Low Interest Rate Loan 2021

Looking for personal loans with low interest rate? Check out the best low interest rate loan below and FAQs before getting a loan.

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What is a low interest rate loan?

A low interest rate loan only focuses on interest rate alone, but handling and administrative fees are not taken into account. To make an informed decision, loan borrowers are recommended to compare the Annual Percentage Rates (APR) of personal instalment loans when choosing the best personal loan.

What is Annual Percentage Rate (APR)?

APR reflects all expenses of your loans including interest rate, admin fees, handling fees etc. If you only consider the monthly flat rate when comparing the personal loan that you would like to apply for, you may be surprised by the hidden charges.

BEA "Super-Fast" Instalment Loan

  • APR*

  • Total Amount Payable

  • Total Interest Payable

BEA "Super-Fast" Instalment Loan offers APR as low as 1.78% with no handling fee. For loan amounts HK$30,000 or below, existing BEA customers can withdraw funds by using BEA’s unique Cardless ATM withdrawal service. Apply through MoneySmart and enjoy up to HK$3,000 exclusive supermarket cash coupons.

PrimeCredit Civil Servant & Professional Loan

  • APR*

  • Total Amount Payable

  • Total Interest Payable

PrimeCredit Civil Servant & Professional Loan offers as low as 0.1% monthly flat rate with 0% handling fee or early settlement fee. Enjoy unlimited 14-day extension of repayment period with no penalty. Apply through MoneySmart and enjoy up to HK$12,000 Cash Bonus + exclusive HK$500 octopus top-up value.

Citi Speedy Cash

No hidden terms and conditions

Citi Speedy Cash

  • APR*

  • Total Amount Payable

  • Total Interest Payable

Citi Personal Instalment Loan customises a plan for loan borrowers. The maximum loan amount is 12X or HK$2,000,000. Apply through MoneySmart and enjoy up to HK$3,000 welcome offer + HK$4,000 MoneySmart reward = total HK$7,000 cash voucher!

WeLend Personal Loan

Income proof free for designated loan amount

WeLend Personal Loan

  • APR*

  • Total Amount Payable

  • Total Interest Payable

WeLend Personal Loan doesn’t require proof of income. The entire application process can be done online anytime anywhere. For loan amounts under HK$100,000, loan borrowers can enjoy instant approval and immediate cash delivery. Apply through MoneySmart to get a HK$300 supermarket cash coupon.

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Frequently Asked Questions on Loan with Low Interest Rate

Should I choose a personal instalment loan with the lowest monthly interest rate?

Monthly interest rate should not be the only criterion when it comes to choosing personal instalment loan. You also need to take handling fees into consideration so MoneySmart suggests that borrowers should compare the Annual Percentage Rates (APR) of personal instalment loans instead.

How to calculate monthly interest of personal loan?

To calculate monthly interest, you need to know the total loan amount, monthly flat rate and repayment period of the loan plan.

What should I consider before applying for a personal instalment loan?

It is important to understand your financial situation and repayment ability before taking out a loan. It is important not to apply for a loan from a financial institution with a bad reputation. You can read more tips about getting a personal loan on MoneySmart.