Compare Debt Consolidation Loans in Hong Kong 2023

Looking for ways to get out of debts? Compare Debt Consolidation Loans now to clear your debts with a lower APR and loan rate. Read More
300,000 personal loan Paid over 24 months
HK$
We found 15 Personal Loans for you!
DBS 星展銀行 logo

Monthly Payment

HK$13,070

Monthly Payment
MoneySmart Exclusive
Loan amount up to HK$2,000,000
APR*
6.48%
Total Amount Payable
HK$300,000
Total Interest Payable
HK$13,680
Monthly Payment
HK$13,070

New customers who successfully apply and drawdown DBS Debt Consolidation Loan via MoneySmart can get up to HK$13,800 rewards + Extra up to HK$8,200 Supermarket Cash Voucher/Apple Gift Card! Get up to a total HK$22,000 reward!

Valid until 30 Jun 2023 - See more details below
Apply Now
WeLab Bank logo

Monthly Payment

HK$12,740

Monthly Payment
MoneySmart Exclusive
APR*
1.68%%
Total Amount Payable
HK$305,760
Total Interest Payable
HK$5,760
Monthly Payment
HK$12,740

From 2 June 2023 till 30 June 2023, successfully draw down the loan using MoneySmart unique code "NLSMRT" could enjoy up to HK$13,888 cash rebate offered by WeLab Bank and MoneySmart exclusive rewards  up to HK$14,500 Supermarket Vouchers / HK$14,500 Apple Gift Carrd /  Devialet Phantom II 98DB Wireless Speaker!  Designated loan amount are offered LG Dehumidifier or Bose QuietComfort 45 headphones!



Exclusive Interest saving guarantee! Clear your card debts and save HKD 50,000 interest expenses, or get HKD 50,000 cash! Also enjoy up to HK$28,388 rewards!

Upon your submission of the gift redemption form, you acknowledge and agree the information entered in this form may be shared to business partners for validation and that business partners may share their results back to us for fulfilment purposes in accordance with our privacy policy“

Valid until 30 Jun 2023 - See more details below
Apply Now
天星銀行Airstar Bank logo

Monthly Payment

HK$12,890

Monthly Payment
APR*
2.99%
Total Amount Payable
HK$309,360
Total Interest Payable
HK$9,360
Monthly Payment
HK$12,890
Apply Now
富邦銀行 logo
Fixed rate for privileged customers
Apply Now
BOC 中國銀行 logo

Monthly Payment

HK$13,760

Monthly Payment
MoneySmart Exclusive
Up to HK$23,988 Cash Rebate
APR*
10.01%
Total Amount Payable
HK$324,228
Total Interest Payable
HK$24,228
Monthly Payment
HK$13,760
【Limited Offer】Apply BOC Express Cash Instalment Loan Balance Transfer via MoneySmart website, with insert reference code “AS”, can enjoy up to HK$23,888 Cash Rebate in total!
Valid until 03 Jul 2023 - See more details below
Apply Now
WeLend logo

Monthly Payment

HK$12,860

Monthly Payment
MoneySmart Exclusive
The lowest APR
1.88%
Total Amount Payable
HK$308,640
Total Interest Payable
HK$8,640
Monthly Payment
HK$12,860
Consolidate debt in 1 second^ to save interest. Boost your credit score in just one step! Selected customers can receive up to HK$16,000 Cash Rebate upon successful draw down! 
Valid until 30 Jun 2023 - See more details below
Apply Now
中信銀行(國際) logo

Monthly Payment

HK$13,389

Monthly Payment
MoneySmart Exclusive
APR*
6.77%
Total Amount Payable
HK$315,336
Total Interest Payable
HK$15,336
Monthly Payment
HK$13,389

【MoneySmart Exclusive Offer 】- Get total reward up to HK$4,000!
Customers successfully apply for loan via MoneySmart and draw down the designated loan amount could enjoy up to HK$4,000 Supermarket Voucher / HK$4,000 Apple Gift Card /  SAMSUNG Galaxy Tab S7 FE Tablet
(retail price: HK$3,998) !

Valid until 30 Jun 2023 - See more details below
Apply Now
 安信信貸 logo

Monthly Payment

HK$12,650

Monthly Payment
MoneySmart Exclusive
APR*
1.18%
Total Amount Payable
HK$303,600
Total Interest Payable
HK$3,600
Monthly Payment
HK$12,650
 [MoneySmart Exclusive Offer] Up to HK$12,000 Cash Bonus + exclusive HK$4,000 Apple Store Gift Card for successful application via MoneySmart! 
Valid until 30 Jun 2023 - See more details below
Apply Now
邦民日本財務 logo

Monthly Payment

HK$12,650

Monthly Payment
MoneySmart Exclusive
Instant Approval Online◉
APR*
1.12%
Total Amount Payable
HK$303,600
Total Interest Payable
HK$3,600
Monthly Payment
HK$12,650
[Get $30,000 loan with $1,000 Cash Rewards] Successfully apply for Promise Loan and drawdown with the loan amount of HK$30,000, can enjoy $1,000 cash rewards▲. Welcome Hong Kong non-permanent residents with 3 months and above working visa validity ※ 
Valid until 30 Jun 2023 - See more details below
Read More
Citibank 花旗銀行 logo

Monthly Payment

HK$13,070

Monthly Payment
MoneySmart Exclusive
APR*
6.78%
Total Amount Payable
HK$313,680
Total Interest Payable
HK$13,680
Monthly Payment
HK$13,070

【Highest offer in June 2023 and the highest rewards is as high as HK$19,899】New customer who successfully apply for Citi Speedy Cash/Citi Card Debt Consolidation Loan and successfully draw down on or before 14 July would be rewarded with Apple iPhone 14 Pro Max 512 GB / $11,500 Apple Gift Card / Supermarket vouchers!

Other physical gift options for choosing include DYSON HP09 Purifier Hot+Cool Formaldehyde/ iPad Pro/ DYSON Digital Slim™ Fluffy Stick Vacuum Cleaner /KEF EGG Duo speakers!

Valid until 30 Jun 2023 - See more details below
Apply Now
SCB 渣打銀行 logo

Monthly Payment

HK$13,105

Monthly Payment
Up to HK$8,000 cash rebate for online application
APR*
4.67%
Total Amount Payable
HK$314,508
Total Interest Payable
HK$14,508
Monthly Payment
HK$13,105
Apply Now
大新銀行 logo

Monthly Payment

HK$13,112

Monthly Payment
MoneySmart Exclusive
Monthly flat rate as low as 0.11%
APR
4.83%
Total Amount Payable
HK$307,920
Total Interest Payable
HK$8,094.24
Monthly Payment
HK$13,112

【Welcome Offer Exclusive for MoneySmart Users】From now until 30 June 2023, customers who successfully apply for Credit Mastermind Instalment Loan via MoneySmart and drawdown the loan on or before 31 July 2023 can enjoy up to HK$2,200 Supermarket Voucher or Apple Gift Card!

Valid until 30 Jun 2023 - See more details below
Apply Now
livi logo

Monthly Payment

HK$12,890

Monthly Payment
APR*
2.9%
Total Amount Payable
HK$309,360
Total Interest Payable
HK$9,360
Monthly Payment
HK$12,890
Apply NowApply directly on MoneySmart
恒生銀行 logo

Monthly Payment

HK$13,100

Monthly Payment
APR*
6.68%
Total Amount Payable
HK$314,400
Total Interest Payable
HK$14,400
Monthly Payment
HK$13,100
Apply Now
AEON信貸財務(亞洲) logo

Monthly Payment

HK$13,100

Monthly Payment
Bank Promo
APR*
4.64%
Total Amount Payable
HK$314,400
Total Interest Payable
HK$14,400
Monthly Payment
HK$13,100
Bank Promo:
 Successfully applied and drawdown of AEON Debt Consolidation Loan will be eligible to receive up to HK$12,000 cash rebate#!
Valid until 31 Aug 2023 - See more details below
Apply Now

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Best Debt Consolidation Loans in HK

DEBT CONSOLIDATION LOAN PLANSAPRFeatures
Citibank Card Debt Consolidation Loans3.13%Repayment term up to 72 months
PrimeCredit Balance Transfer Loan2.38%Repayment terms up to 60 months
CNCBI $mart Plus Personal Installment Loan – Debt Consolidation7.19%HK$2,000,000 or 21 times of your monthly salary
WeLend Card Debt Consolidation Loan2.79%Interest savings plan save up to 90% interest-savings
DBS Debt Consolidation Loan4.27%Up to HK$4,500 reward for applying
Promise Debt Consolidation Loan4.49%Instant transfer once loan is approved
CCBA Balance Transfer Loan Program4.80%up to HKD1,200,000 or 21 times of your monthly salary

How to Pick the Best Debt Consolidation Loan?

What is a debt consolidation loan?

Debt consolidation (also known as balance transfer) is a way to transfer higher-interest debt to a lower-interest debt repayment by gathering all your outstanding, unsecured debt from credit cards and personal loans into one monthly payment. You will save on interest, enjoy a reduced repayment amount and a shortened repayment period. Banks or money lenders will pay your former creditors directly via bank transfers or promissory notes.

Why Do We Need Debt Consolidation Loans?

Avoid snowballing your debts

Try to pay attention to your lowest interest rate cards to consider transferring a higher-interest bill to that one by having APR at 12% instead of the one at 30%. Otherwise, get a debt consolidation to pay off all outstanding, unsecured debts then pay back the loan in fix-rate instalments over a set of terms. By clearing all debts on time, you can also improve your credit score.

Simpler and more flexible loan application

As long as you’re 18+ and earning HK$5,000+/month, you’re welcomed to apply for debt consolidation loans. Simply bring your identity card, residential address proof, bank statement, and salary slip and you’re good to go!

Tips for Getting Debt Consolidation Loans

Tip #1

Compare Annual Percentage Rate (APR)

The calculation of APR includes all the interests, admin fees and handling fees of a loan. That’s why APR is the best way to compare the actual expenses of personal loans.

Tip #2

Compare debt consolidation rebates

Debt consolidation loans typically come with lower interest rates than balance transfer credit cards. Also, different banks offer rebates that would lower your costs of monthly loan repayments.

Frequently Asked Questions

What exclusive offers can I enjoy if I apply for debt consolidation loans via MoneySmart?

You can enjoy various exclusive offers by applying for debt consolidation loans through MoneySmart: New customers who apply and draw drawdown Citi Card Debt Consolidation Loan through us can enjoy up to $12,000 cash vouchers; apply and drawdown SCB Debt Consolidation Program can enjoy up to $14,000 cash rebate! Check out more offers on MoneySmart NOW!

Am I qualified for debt consolidation loan applications?

If you’re 18+ and earning HK$5,000+/month, you’re welcomed to apply for debt consolidation loans. Simply bring your identity card, residential address proof, bank statement, and salary slip, and you’re good to go.

How much can I borrow from a debt consolidation loan?

It depends on your salary and the loan cap of banks or money lenders. The loan amount can be 18x to 21x of your salary.

How long can my loan repayment period be?

Normally, it’s 72 months. Banks and money lenders will set a fixed monthly repayment amount. The longer the repayment period, the lower the repayment amount, and the higher the interest rate.

How much interest expenses can a debt consolidation loan save for me?

Debt consolidation loans APR can be as low as 4% in Hong Kong, which is far lower than credit card 30% interest rate. Some loan plans can save up to 80% interest expenses for you, but it depends on your approved APR and credit score.

What do I need to prepare for my debt consolidation loan application?

You’ll need these are the documents for your debt consolidation loan:
  • Photocopy of your HKID card (both sides);
  • Residential address proof (e.g. electricity bill, demand notes for rates);
  • Salary proof of the latest month (e.g. salary proof, bank statement).
If you’re self-employed, you may need to submit a full set of the latest Profits Tax Demand Note.

Where can I get a debt consolidation loan?

You can apply to banks and money lenders in-person or online for debt consolidation loans.