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Best Tax Loans in Hong Kong 2021

Compare tax loan plans and enjoy lower rates compared with personal loans in tax seasons! Read More
100,000 personal loan Paid over 12 Months
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We found 6 Personal Loans for you!
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安信信貸 logo

Monthly Payment

HK$8,433

MoneySmart Exclusive

PrimeCredit Fixed Loan (Tax Season Loan)

APR*
2.38%
Total Amount Payable
HK$101,200
Total Interest Payable
HK$1,200
Monthly Payment
HK$8,433
Up to $8000 Cash Bonus will be rewarded upon successful applications via MoneySmart！
Valid until 30 Jun 2021 - See more details below
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中國建設銀行(亞洲) logo

Monthly Payment

HK$8,403

Instant approval and same day funds disbursement

CCBA Tax Season Loan

APR*
1.56%
Total Amount Payable
HK$100,840
Total Interest Payable
HK$840
Monthly Payment
HK$8,403
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恒生銀行 logo

Monthly Payment

HK$8,493

Hang Seng Tax Season Loan

APR*
3.58%
Total Amount Payable
HK$101,920
Total Interest Payable
HK$1,920
Monthly Payment
HK$8,493
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邦民日本財務 logo

Monthly Payment

HK$8,533

Welcome Offer
Instant Approval Online◉

Promise Personal Loan (Available for Tax Season)

APR*
4.49%
Total Amount Payable
HK$102,400
Total Interest Payable
HK$2,400
Monthly Payment
HK$8,533
Welcome Offer:
 Up to HK$5,000 instant cash reward to new customers▲ Apply with HKID and mobile phone number only# Instant Money Transfer upon approval^
Valid until 30 Jun 2021 - See more details below
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BEA 東亞銀行 logo

Monthly Payment

HK$8,413

0% handling fee

BEA Tax Season Loan

APR*
1.78%
Total Amount Payable
HK$100,960
Total Interest Payable
HK$960
Monthly Payment
HK$8,413
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BOC 中國銀行 logo

Monthly Payment

HK$8,413

APR as low as 1.78%

BOC "iSmart" Tax Loan

APR*
1.78%
Total Amount Payable
HK$100,958.80
Total Interest Payable
HK$958.80
Monthly Payment
HK$8,413
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Disclaimer: At MoneySmart.hk, we strive to keep our information accurate and up to date. This information may be different than what you see when you visit a financial institution, service provider or specific product’s site. For any discrepancy in product information, please refer to the financial institution’s website for the most updated version. All financial products and services are presented without warranty. Additionally, this site may be compensated through third party advertisers. However, the results of our comparison tools which are not marked as sponsored are always based on objective analysis first.

What is Tax Loan?

Tax loan is type of loan offered during tax season to help applicants cover their tax bills. Check out this guide on how to pay tax and compare tax loans for more information.

Compare Tax Loans 2020

BankTax loan plansLowest APR / Repayment period (months)
Dah SingTax Loan1.38% / 12
HSBCPersonal Tax Loan1.62% / 6 to 24
CitibankTax Season Loan1.78% / 6 to 60
BEATax Season Loan1.78% / Up to 60
BOC"iSmart" Tax Loan1.78% / 6 to 18
DBSTax Season Loan2.53% / 12 to 24

Why should I apply for tax loans?

1. Tax loan programmes are launched in October and November every year by major banks. To attract customers, it usually comes with a very low rate and cash rebate.

2. The APR of tax loans can be as low <2%. The higher the loan amount, the lower the rate.

3. The loan amount is very high - between HK$2M-4M. It can be used not only for tax payment but also for your other plans in life.

4. The repayment period is shorter than personal loan, but it is between 6-24 months

Why do we need tax loans?

Paying tax

During the tax season, Hong Kong banks and private financial lenders provide tax loans in a lower interest rate with longer repayment, some of them even extend to 48 months. So that you are able to manage cash flow with higher flexibility.

Simpler and more flexible loan application

Lower interest rates, simpler application and fewer limitations are highlights. As long as you’re age 18+ and earning HK$60,000+/year or HK$5,000+/month, you’re welcomed to apply for tax loans. Bring a copy of your latest tax slip and you’re good to go!

How to pick the best tax loan?

Interest rate is not the ONLY factor for comparing tax loans

Comparing loan plans are not only about interest rates but the total costs of your loan, such as the total amount, repayment period, and handling fee. So, Annual Percentage Rate (APR) expressed as a percentage of the actual yearly cost of a loan over the term. It is the best indicator when doing the comparison of different loan plans.

Are Tax loans only for tax payment?

Tax loans are not only for tax payment. It can be used for funds for your other plans, such as a home renovation, marriage, further education or additional cash flow.

Tips for Getting Tax Loans and Comparing Tax Loans

Tip #1Annual Percentage Rate (APR) is the key to compare loans

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

Tip #2Different loan promotions launch in tax seasons

Banks and private lenders usually launch tax loan offers from October to April of the next year. Out of all loan promotions, cash rebate is the most common one – the more you borrow, the more rebates you can get.

Tip #3Be aware of the terms and conditions in loans

Some tax loans may look attractive with an extremely low interest rate. But everything come at a price — the banks will ask you to set up an account and make a huge deposit first; or they’ll set a bottom limit to your borrowing amount, then you’ll have to borrow a loan of $1,000,000+ to get the lowest interest rate.

How can I apply for Tax Loan? Can I apply online?

You can apply for a tax loan through bank branches, websites or mobile apps. You may be required to submit a copy of your tax return when applying for a tax loan. It is important to "shop around" comparing relevant information and terms provided by different banks before applying. You can have a quick overview of all the major tax loan programmes available on MoneySmart before you make your decision.
You can also apply for tax loan online via MoneySmart online. Successful applicants to certain tax loan products such as Citi Tax Loan can even earn extra cash vouchers.

Frequently Asked Questions

Am I qualified for tax loan applications?

If you’re 18+ and earning HK$60,000+/year or HK$5,000+/month, simply bring a copy of your latest tax slip, you’re qualified.

Where can I get a tax loan?

Banks and financial lenders usually launch tax loan offers from October to April of the next year.

How much can I borrow from a tax loan?

It depends on your salary. Banks and financial lenders can borrow you a tax loan at maximum 8x to 12x of your monthly salary.

How long can my tax loan repayment period be?

Normally it’s 6 to 24 months for tax loans. Banks and financial lenders will set you a fixed repayment amount. The longer the repayment period, the lower the monthly repayment amount, and the higher the interest rate.

Do tax loans have any extra handling fee?

Some banks not only calculate interest with monthly flat rate, but they also charge you a handling fee, which is usually 1% of your loan amount.

What are the interest rates of tax loans?

The annualised percentage rate of tax loans is between 2% to 11%, depending on your loan amount and repayment period.

What do I need to prepare for my tax loan application?

You’ll need these are the documents for your tax loan:
  • Photocopy of your HKID card (both sides);
  • If you’re an employee, you’ll need your salary proof or your bank statement for the last 3 months and the latest tax slip.
  • If you’re self-employed, you’ll need your full set of latest Profits Tax Demand Note for the last 2 years and your bank statement for the last 6 months.