The 100% Personal Loan Guarantee Scheme, introduced by HKMC Insurance Limited (HKMCI), was created to assist clients that are unemployed plus in need of financing of these challenging circumstances.
Preferential rates of interest
An percentage that is annualised (APR) of just one% p.a.
Preferential rate of interest for 100% Personal Loan Guarantee Scheme
Month-to-month payment quantity for almost any HKD10,000 lent (according to that loan tenor of 72 months and APR of just one%)
For the first one year: HKD4.9
Through the month that is 13th: HKD171.6
Preferential interest for 100% Personal Loan Guarantee Scheme
Month-to-month payment quantity for almost any HKD10,000 lent (considering a loan tenor of 72 months and APR of just one%)
The monthly repayment amount and the Annualised Percentage Rate (APR) are calculated based on 72-month repayment period and loan amount of every 10,000 as an illustration. The month-to-month payment quantity is curved as much as 1 decimal destination. The APR is determined utilizing technique specified in appropriate tips iued by The Hong Kong Aociation of Banking institutions, 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 interest levels, costs and fees for the item, expreed being an annualised price. Take note that the specific repayment that is monthly may vary. Clients can make reference installment loans Iowa to the mortgage verification page for real information that is related.
Features
Optimum loan quantity is 6 times the common month-to-month earnings for any three months from January 2020 to February 2021, or 6 times the common monthly aeable earnings as determined with regards to the income income tax demand note when it comes to monetary 12 months 2019-2020, or HKD80,000, whichever is leaner
Like a 12-month principal repayment holiday
Get a full rebate on the paid interest once the mortgage happens to be settled in complete
Just how to use
Application hotline
Papers needed
Eligibility
To try to get financing beneath the 100% Personal Loan Guarantee Scheme, you need to:
- be A hsbc that is existing client
- be a Hong Kong resident
- be at the very least 18 yrs old
- have now been used in Hong Kong for at the very least three months between 2020 and February 2021 january
- Have been unemployed for at least 2 months at the right period of the job submiion
- never be undischarged bankrupts nor at the mercy of any bankruptcy petition or procedures during the time of application for the loan
- never be a busine owner who’s got subsisting credit facilities 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 duplicate 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
- Evidence of your latest domestic addre in your name (valid within a few months through the time of the application), eg bills, federal government lease or prices need note, a duplicate associated with tenancy contract or leasing receipt, any communication iued by any federal government division (eg an income tax demand note iued because of the Inland sales Department) or any general public figures to you personally
- If you are just in a position to offer evidence of your latest domestic addre within the title associated with the other person (eg a member of family) residing to you, please give a declaration in your application for the loan describing the specific situation and a duplicate of the bank declaration iued for your requirements this kind of domestic addre
Item information
Papers needed
Car payroll clients
Non-auto payroll customers
1. HKID card
A duplicate of one’s HKID card showing that you have got permanent residency status.
2. Evidence of your latest addre that is residential