The 100% Personal Loan Guarantee Scheme, introduced by HKMC Insurance Limited (HKMCI), is made to assist clients that are unemployed and in need of that loan over these challenging circumstances.
Preferential interest levels
An percentage that is annualised (APR) of 1% p.a.
Preferential rate of interest for 100% Personal Loan Guarantee Scheme
Month-to-month payment quantity for each and every HKD10,000 lent (considering that loan tenor of 72 months and APR of just one%)
When it comes to first year: HKD4.9
Through the 13th thirty days onwards: HKD171.6
Preferential interest for 100% Personal Loan Guarantee Scheme
Month-to-month payment quantity for virtually any HKD10,000 borrowed (predicated on a loan tenor of 72 months and APR of just one%)
being an example, the month-to-month payment quantity as well as the Annualised portion price (APR) are determined centered on 72-month payment duration and loan quantity of every 10,000. The month-to-month payment amount is curved up to 1 decimal destination. The APR is determined method that is using in appropriate recommendations iued by The Hong Kong Aociation of Banks, and it is curved up or down seriously to the nearest 2 decimal places. An APR is just a guide price, which include all relevant rates of interest, charges and costs regarding the item, expreed as a rate that is annualised. Please be aware that the particular repayment that is monthly may vary. Clients can relate to the mortgage verification page for real information that is related.
Features
Optimum loan amount is 6 times the common income that is monthly any a couple of months from January 2020 to February 2021, or 6 times the common monthly aeable earnings as determined with regards to the tax demand note for the monetary year 2019-2020, or HKD80,000, whichever is gloomier
Enjoy a 12-month principal repayment holiday
Get a complete rebate on the premium interest once the mortgage happens to be settled in complete
Just how to use
Application hotline
Papers needed
Eligibility
To use for financing beneath the 100% Personal Loan Guarantee Scheme, you need to:
- be A hsbc that is existing consumer
- be considered a Hong payday cash loans advance Tennessee Kong resident
- be at the very least 18 years old
- were used in Hong Kong for at the very least a couple of months between 2020 and February 2021 january
- Have been unemployed for at least 2 months at the right time of the application submiion
- never be undischarged bankrupts nor at the mercy of any bankruptcy petition or procedures during the time of application for the loan
- not be a busine owner that has credit that is subsisting fully guaranteed beneath the SME Financing Guarantee Scheme (SFGS)
- A duplicate of your HKID showing permanent residency status
- Evidence of your latest addre that is residential
- Proofs of jobless status
- A copy of your HKID showing residency status that is permanent
- Evidence of your latest addre that is residential
- Proofs of jobless status
- Proofs of one’s past employment/occupation and primary recurring earnings
- Proof of your latest addre that is residential your name (valid within three months through the time of the application), eg utility bills, federal government lease or prices need note, a duplicate associated with the tenancy contract or rental receipt, any communication iued by any federal federal government division (eg a taxation demand note iued by the Inland sales Department) or any general public figures for your requirements
- If you are just in a position to offer proof your latest domestic addre when you look at the title associated with the other person (eg a member of family) residing with you, please give a statement in your application for the loan describing the specific situation and a duplicate of the bank declaration iued to you personally this kind of domestic addre
Item information
Papers needed
Automobile payroll clients
Non-auto payroll customers
1. HKID card
A duplicate of one’s HKID card showing that you’ve got permanent residency status.
2. Evidence of your latest addre that is residential
