Get Online Loans in HK: Instantly Approved Low Interest Loans

There are a wide range of personal loans available in the market. To make the entire loan application process easier, most banks and moneylenders have introduced online loans. Online loans are characterised by instant approval, lower interest rate, free from documents, etc. MoneySmart has put together a summary for you to have a better grasp of the different online loans available in the market.

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What are Online Loans?

The borrowing process of online loans is done primarily online, from application, instant approval to funding. You may even be able to get your funds as soon as the same business day. This stands different from most loans that you would apply for through a brick-and-mortar location. Online loans can help you to weather the storm when you’re facing emergency expenses.

Pros of Online Loans

What are the benefits of online loans? Why is the interest rate lower? Is it free from TU? MoneySmart has put together an arsenal of answers for you:

1. Lower borrowing cost

As the name suggests, the entire borrowing process of online loans is done completely online. That is why its operating cost is much lower than its brick-and-mortar counterparts, enabling it to launch loans such as WeLend Personal Loan and UA i-Money Express Online Personal Loan that are characterized by lower or no interest rates and free of any administrative charges.

2. Instant Approval and Disbursement + TU Free

Some online loans don't require proof of income or TU, making the entire application process so much easier, which is ideal for applicants facing emergency expenses. However, it is important to note that these loans usually come with higher interest rates. Therefore, you should think twice before taking out these loans.

3. Online Loan applications are open even during weekend

The entire borrowing process of online loans is not done manually. That’s why it’s not restricted to working hours. Applicants can apply online loans anytime, even during weekends. Many money lenders even offer instant approval and disbursement loans on weekends such as PrimeCredit Fixed Loan.

4. Enjoy Cashback

Enjoy extra cashback when applying loans online. For example, if you apply for UA "NO SHOW" Personal Loan via MoneySmart before 31 Aug 2021, you can enjoy up to HK$5,000 Welcome Cash Reward + Extra Nintendo Switch Lite or HK$1,500 supermarket voucher.

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Best Online Loan Provider

Online Money Leaders/Banks Platform Features Loan Features
Welend Infinite A.I. seamless, fully-online experience from quotation, approval and disbursementColumn No income or address proof required for HK$300,000 or below3
UA Finance Established in 1993 and a member of Sun Hung Kai Properties No need to show up for loan application, no documents are required
PrimeCreditLed by China Travel Financial Investment and formed by Pepper Group and York Capital Management Global AdvisorsOnline instant loan approval and 24x7 cash delivery
Promise Established in 1992 and a member of Sumitomo Mitsui Financial Group (SMFG) - one of the leading finance institutions in Japan.No supporting document is required, apply for a loan with HKID and mobile number only.
DBS BankCan apply online or via mobile apps Interest rate as low as 1.56% and instant approval
Citibank Can apply online or via telephone Interest rate as low as 1.78% and same day approval

Must Read Before Applying Loans on the Internet

Unlike applying for loans in person, there is no one walking you through the details such as APR, monthly interest rate, or any charges applicable to your loan application when applying online. However, you can leave this with MoneySmart. You can compare different loans available in the market on the platform.

Best Online Loans

LoansAPRHow to Sign Contracts
Promise Easy LoanAs low as 4.49%Online
UA i-Money Express Online Personal LoanAs low as 6.18%Online
PrimeCredit Fixed LoanAs low as 2.38%Online
DBS Personal Instalment LoanAs low as 1.56%Online
Citi Speedy CashAs low as 1.78%Online

Online Loans offers

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Selected customers who have successfully applied can get HK$300 supermarket cash coupon, no matter the loan is approved or not! You can receive up to HK$12,000 Cash Rebate upon successful draw down!

Valid until 03 Jul 2022
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New customer who successfully apply and drawdown Citi Speedy Cash/Citi Card Debt Consolidation Loan can get KEF Q750 Speaker / AirPods 3rd generation + iPadAir 256GB + Apple Pencil (2nd generation) / MacBook Air 13”/ iPhone SE 128GB + Nintendo Switch Game Console (OLED) – White / Sony WH-1000XM5 + Marshall ACTON II Wireless Speaker / AirPods 3rd generation/ **up to HK$10,000 Voucher!!!**

Valid until 31 Jul 2022

Banks VS Licensed Money Leaders |Can you trust HK Money Lenders?

The benefits of borrowing from a licensed moneylender in HK are that they offer instant approval and they usually come with fewer restrictions with regard to your income, credit history and the documents required. Usually, banks would only extend personal loans to applicants with a stable income and good credit history. 

With licensed moneylenders, you can even get the loan approved and funds within minutes, and they don’t scrutinise your credit history as much as the bank does. However, you usually end up paying higher interest rates than you would at a bank. 

So personal loans should only be taken out for a specific purpose, with a focused plan on repayment. Find the best Personal Loan for you on MoneySmart, where you can compare all interest rates at one glance!


What offers can I enjoy if I apply for online loans via MoneySmart?

Apply through MoneySmart to enjoy extra cashback. For example, if you apply for UA "NO SHOW" Personal Loan through MoneySmart on or before 31 Aug 2021, you can enjoy up to HK$5,000 Welcome Cash Reward + Extra Nintendo Switch Lite or HK$1,500 supermarket voucher! Apply for Citibank Personal Loan and you can enjoy up to HK$12,000 exclusive cash rewards!

Without proof of income, can I still apply for online loans?

Yes, you may be eligible to apply for some online loans from some moneylenders such as UA. It doesn’t require proof of income, even full-time workers without fixed income, students, freelancers, housewives, etc. are eligible to apply.

Which money lenders provide instant online loans?

Money lenders such as PrimeCredit, UA, WeLend, etc. offer instant approval and disbursement.

What should I do if I need urgent loans for emergencies on weekends?

You can consider online loans such as PrimeCredit Fixed Loan which can be approved as fast as 10 minutes and the funds will be released in an hour.

What can be used as proof of address?

Utility bills of the last 3 months with your names clearly printed can be used as proof of address.

Why do money lenders charge higher interest rates than banks?

Yes, they are eligible for some online loans such as UA "NO SHOW" Personal Loan which doesn’t require income proof.

Will your credit history affect your online loans application?

Yes. When you apply for online loans, a lender usually runs a check on your credit history to determine whether you qualify for a loan or the final interest rate applies to you.