Loans for Bad Credit Score in Hong Kong
Bad credit loans are products designed especially for people with a poor credit report. These loans come with higher interest rates and greater restrictions to mitigate the risk of you not paying back your loans. Check out the available loans below.
Loans without Credit Check/for people with bad credit in HK
Grantit Non-TU and Express Personal Loan App
- APR*
- 4.2%
- Total Amount Payable
- HK$209,120
- Total Interest Payable
- HK$9,120
- Monthly Payment
- HK$8,713
【Welcome offer Exclusive for MoneySmart Users】From now until 28 April 2024, download the Grantit App and use the promo code 【 Moneysmart100 】to get a $100 cash reward upon approval and signing of the loan contract in the app. Get extra HK$500 PARKnSHOP Supermarket vouchers when drawdown the loan amount HK$5,000 or above successfully within the promotion period! Total rewards up to HK$600!
PrimeCredit Fixed Loan
- APR*
- 1.18%
- Total Amount Payable
- HK$202,400
- Total Interest Payable
- HK$2,400
- Monthly Payment
- HK$8,433
Selected customers can receive up to HK$12,000 Cash Rebate upon successful draw down!
【Last Chance! Apply for Personal Loan at the Beginning of the Year of Loong! 🐲】Earn with Your Personal Loan Application.
From now until 30 April, apply for designated loans from Prime Credit via MoneySmart, you can earn the application bonus of HK$800 vouchers (given out as 5,000 SmartPoints) regardless of approval! if the final status of application is cancelled, the customer would not be eligible to the rewards of this promotion. But that's not all - SmartPoints can be freely exchanged for cash vouchers from 20+ brands! Click here to learn more.
Promise Easy Loan
- APR*
- 4.49%
- Total Amount Payable
- HK$209,600
- Total Interest Payable
- HK$9,600
- Monthly Payment
- HK$8,733
Promise No-doc Loan
- APR*
- 4.49%
- Total Amount Payable
- HK$209,600
- Total Interest Payable
- HK$9,600
- Monthly Payment
- HK$8,733
WeLend Personal Loan
- The lowest APR
- 1.88%
- Total Amount Payable
- HK$205,760
- Total Interest Payable
- HK$5,760
- Monthly Payment
- HK$8,573
Selected customers can receive up to HK$16,000 Cash Rebate upon successful draw down!
【Last Chance! Apply for Personal Loan at the Beginning of the Year of Loong! 🐲】Earn with Your Personal Loan Application.
From now until 30 April, apply for designated loans from Welend via MoneySmart, you can earn the application bonus of HK$1,000 vouchers (given out as 10,000 SmartPoints) regardless of approval! But that's not all - SmartPoints can be freely exchanged for cash vouchers from 20+ brands or converted into HK$666cash! Click here to learn more.
Why does Credit Score Matter?
Credit score should be on your radar when it comes to applying for personal loans. This information is useful for lenders to evaluate their risks when lending money to you. They will also use this information to determine the loan amount, tenor and interest rate.
How to Improve My Credit Score?
- Settle your bills on time
- Check your credit report on a regular basis and amend questionable data timely
- Avoid excessive credit card applications
Check out more about improving your credit score on this Complete Credit Score Guide.
FAQ
What impacts my credit score?
- It will be affected by your payment records, total credit/loan balance, the length of the credit history and your credit accounts.
What is a credit report?
- A credit report is a financial dossier that details your credit activities. It will help banks or finance institutions to evaluate the credit risk of a customer.
Who can access my credit report?
- When you apply for loans, credit providers may request to access your credit report.
What should I do if the information in my credit report is questionable?
- You can request for data correction with TransUnion. It usually takes around 40 days to complete the investigation.
For how long is a credit score valid?
- Generally, it is valid for 5 years. The credit score will be adjusted based on the growth of your credit history and changes in your payment record.
