A federal federal government loan that aims to help you relieve economic anxiety during these a down economy.
The 100% Personal Loan Guarantee Scheme, introduced by HKMC Insurance Limited (HKMCI), is made to assist clients who’re unemployed plus in need of that loan over these challenging circumstances.
Preferential rates of interest
An annualised portion rate (APR) of just one% p.a.
Preferential interest for 100% Personal Loan Guarantee Scheme
Month-to-month payment quantity for every single HKD10,000 lent (predicated on that loan tenor of 72 months and APR of just one%)
When it comes to first one year: HKD4.9
Through the 13th thirty days onwards: HKD171.6
Preferential rate of interest for 100% Personal Loan Guarantee Scheme
Month-to-month payment quantity for each HKD10,000 lent (predicated on 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 monthly payment amount is curved as much as 1 place that is decimal. The APR is determined utilizing technique specified in relevant directions iued because of 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 associated with the item, expreed as a rate that is annualised. Take note 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 quantity is 6 times the common income that is monthly any a couple of months from January 2020 to February 2021, or 6 times the typical monthly aeable earnings as determined with regards to the tax demand note when it comes to monetary 12 months 2019-2020, or HKD80,000, whichever is leaner
Have a principal that is 12-month holiday
Receive a rebate that is full the premium interest once the mortgage happens to be settled in complete
How exactly to use
Application hotline
Papers needed
Eligibility
To utilize for that loan underneath the 100% Personal Loan Guarantee Scheme, you need to:
- be a current hsbc consumer
- be considered a Hong Kong resident
- be at the very least 18 yrs old
- have now been used in Hong Kong for at the 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
- not 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 that has subsisting credit facilities assured underneath the SME Financing Guarantee Scheme (SFGS)
- A duplicate of your HKID showing residency status that is permanent
- Evidence of your latest domestic addre
- Proofs of unemployment status
- A duplicate of your HKID showing residency status that is permanent
- Proof of your latest domestic addre
- Proofs of jobless status
- Proofs of the past employment/occupation and main recurring earnings
- Evidence of your latest domestic addre in your name (valid within a couple online installment loans Oklahoma of months through the period of the job), eg bills, federal federal government lease or prices demand note, a duplicate associated with the tenancy contract or leasing receipt, any communication iued by any federal government division (eg an income tax demand note iued because of the Inland income Department) or any general general public systems to you personally
- If you should be just in a position to offer evidence of your latest domestic addre within the name regarding the other person (eg a member of family) living with you, please supply a statement in your application for the loan explaining the specific situation and a copy of a bank statement iued to you personally such domestic addre
Item information
Papers required
Car payroll clients
Non-auto payroll clients
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