Compare Debt Consolidation Loans in Hong Kong 2022

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
100,000 personal loan Paid over 12 Months
HK$
We found 14 Personal Loans for you!
DBS 星展銀行 logo

Monthly Payment

HK$8,353

Monthly Payment
Loan amount up to HK$2,000,000
APR*
4.27%
Total Amount Payable
HK$100,000
Total Interest Payable
HK$240
Monthly Payment
HK$8,353
Apply Now
Citibank 花旗銀行 logo

Monthly Payment

HK$8,473

Monthly Payment
MoneySmart Exclusive
Repayment term up to 72 months
APR*
3.13%
Total Amount Payable
HK$101,680
Total Interest Payable
HK$1,680
Monthly Payment
HK$8,473

New customers who successfully apply and drawdown the Citi Speedy Cash/Citi Card Debt Consolidation Loan can get Macbook Air M2 chip, 512 GB / Macbook Air M2 chip, 256GB / Herman Miller Sayl Office Chair / Sony PlayStation® 5 Game Console / AirPods 3rd generation/ **up to HK$10,000 Voucher/ Apple Gift Card!!!**

Valid until 16 Oct 2022 - See more details below
Apply Now
WeLend logo

Monthly Payment

HK$8,513

Monthly Payment
MoneySmart Exclusive
APR*
4.03%
Total Amount Payable
HK$102,160
Total Interest Payable
HK$2,160
Monthly Payment
HK$8,513

【MoneySmart x WeLend Flash Sales!!!】Consolidate debt in 1 second^ to save interest. Boost your credit score in just one step! Selected customers who have successfully applied for and drawn down can receive up to HK$3,000 Supermarket voucher. Welcome offer cash rebate up to HK$16,000, total reward is up to HK$19,000!

Valid until 31 Oct 2022 - See more details below
Apply Now
 安信信貸 logo

Monthly Payment

HK$8,433

Monthly Payment
MoneySmart Exclusive
Professional suggestions on best repayment plan
APR*
2.38%
Total Amount Payable
HK$101,200
Total Interest Payable
HK$1,200
Monthly Payment
HK$8,433
 【MoneySmart Exclusive Offer】Up to HK$12,000 Cash Bonus will be rewarded for successful application! 
Valid until 31 Dec 2022 - See more details below
Apply Now
天星銀行Airstar logo

Monthly Payment

HK$8,467

Monthly Payment
APR*
2.99%
Total Amount Payable
HK$101,608
Total Interest Payable
HK$1,608
Monthly Payment
HK$8,467
Apply Now
中信銀行(國際) logo

Monthly Payment

HK$8,546

Monthly Payment
MoneySmart Exclusive
Repayment period up to 72 Months
APR*
6.77%
Total Amount Payable
HK$102,556
Total Interest Payable
HK$2,556
Monthly Payment
HK$8,546

【MoneySmart Exclusive Offer 】- Get total reward up to HK$20,000!
Customers successfully apply for loan via MoneySmart and draw down the designated loan amount could enjoy up to HK$20,000 Supermarket Voucher / HK$20,000 Apple Store Gift Card / ASUS Zenbook Pro 14 Duo OLED Notebook (retail price: HK$19,998) !

Valid until 31 Oct 2022 - See more details below
Apply Now
恒生銀行 logo

Monthly Payment

HK$8,617

Monthly Payment
APR*
6.44%
Total Amount Payable
HK$102,400
Total Interest Payable
HK$2,400
Monthly Payment
HK$8,617
Read More
BOC 中國銀行 logo

Monthly Payment

HK$8,957

Monthly Payment
Loan amount up to $2,000,000
APR*
16.61%
Total Amount Payable
HK$107,486.80
Total Interest Payable
HK$7,486.80
Monthly Payment
HK$8,957
Apply Now
邦民日本財務 logo

Monthly Payment

HK$8,383

Monthly Payment
MoneySmart Exclusive
Approval on Sundays
APR*
1.12%
Total Amount Payable
HK$100,600
Total Interest Payable
HK$600
Monthly Payment
HK$8,383
Welcome Offer worth up to HK$13,000! New customers who withdraw their loans before 31 December 2022, will receive a cash reward of up to HK$10,000▲ + HK$3,000 Apple Store Gift Card. Welcome Hong Kong non-permanent residents with 3 months and above working visa validity ※ 
Valid until 31 Dec 2022 - See more details below
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大新銀行 logo

Monthly Payment

HK$8,536

Monthly Payment
MoneySmart Exclusive
Monthly flat rate as low as 0.11%
APR* (include cash rebate)
4.61%
Total Amount Payable
HK$101,320
Total Interest Payable
HK$1,334.52
Monthly Payment
HK$8,536

【Welcome Offer Exclusive for MoneySmart Users】From now until 31 October 2022, customers who successfully apply for loan via MoneySmart and drawdown the loan on or before 30 November 2022 can enjoy up to HK$2,200 Supermarket Voucher or Apple Gift Card!

Valid until 31 Oct 2022 - See more details below
Apply Now
SCB 渣打銀行 logo

Monthly Payment

HK$8,754

Monthly Payment
Up to HK$8,000 cash rebate for online application
APR*
9.6%
Total Amount Payable
HK$105,052
Total Interest Payable
HK$5,052
Monthly Payment
HK$8,754
Apply Now
AEON信貸財務(亞洲) logo
Flexible repayment period to 60 months
Apply Now
中國建設銀行(亞洲) logo

Monthly Payment

HK$8,540

Monthly Payment
APR*
4.8%
Total Amount Payable
HK$102,484
Total Interest Payable
HK$2,484
Monthly Payment
HK$8,540
Read More
WeLab logo

Monthly Payment

HK$8,413

Monthly Payment
MoneySmart Exclusive
APR*
1.68%
Total Amount Payable
HK$100,960
Total Interest Payable
HK$960
Monthly Payment
HK$8,413

【MoneySmart Exclusive Offer】Up to HK$6,388 rewards upon successful application and drawdown of WeLab Bank designated personal loan via MoneySmart!
From now until 31 October 2022, customers enter referral code "NLSMRT" to successfully apply for loan and draw down the $500,000 loan could win you up to HK$6,388 rewards (Including $3,000 draw down cash rebate from WeLab Bank and HK$3,000 supermarket vouchers / PHILIPS ADD6910DG RO Water Dispenser from MoneySmart);



WeLab Bank客戶凡成功申請及獲批貸款金額HKD 80,000或以上,及還款期為24個月或以上,並於批核後7日內提取貸款可享高達HKD3,000 現金回贈

New Welab bank customers enter referral code "NLSMRT" to successfully open an account could get an extra $300 account opening spending rebate.

*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 31 Oct 2022 - 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.