The Hongkong and Shanghai Banking Corporation Limited
Intro
About this product
A personal loan from The Hongkong and Shanghai Banking Corporation Limited. Tenors run 6–60 months. The APR is 1.88%–31.71%. On fees, handling fee HK$0, early repayment handling fee 2%, late payment fee HK$400. On early repayment, The earlier the early repayment, the more outstanding interest is saved, but the early repayment handling fee involved must also be considered; the Bank uses the straight-line method or the Rule of 78 to calculate the ratio of interest to principal in each monthly repayment.
Fit
Who it suits
Borrowers who prefer a longer tenor (up to 60 months)
Strong-credit borrowers aiming for an APR as low as 1.88%
Borrowers who want the handling fee waived
Key facts
Key facts
Cost
APR
1.88%–31.71%
Monthly flat rate
To be verified
handling fee HK$0 · No handling fee during the flexible repayment period; the service charge table likewise states that the handling fee is subject to promotional offer terms
early repayment handling fee 2% · Charged at 2% of the outstanding principal upon early repayment, and any applicable promotional offers must be returned
late payment fee HK$400 · When the full monthly repayment is not paid on time, a late repayment handling fee of HK$400 is charged each time, plus interest at 2.25% per month on the overdue monthly repayment amount
Repayment
Tenor
6–60
The earlier the early repayment, the more outstanding interest is saved, but the early repayment handling fee involved must also be considered; the Bank uses the straight-line method or the Rule of 78 to calculate the ratio of interest to principal in each monthly repayment.
The early repayment handling fee is 2% of the outstanding principal, and any applicable promotional offers must be returned.
This page lists no advance-notice period; before deciding whether to repay early, please first enquire with the Bank for the total early repayment amount (including the remaining loan balance, the early repayment handling fee and other charges) and the outstanding interest.
Customers may call the designated hotline to cancel the loan within seven calendar days of loan disbursement (the cooling-off period).
The Hongkong and Shanghai Banking Corporation Limited