A government loan that aims to assist you to relieve anxiety that is financial these a down economy.

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A government loan that aims to assist you to relieve anxiety that is financial these a down economy.

A government loan that aims to assist you to relieve anxiety that is financial 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 of these circumstances that are challenging.

Preferential interest levels

An annualised portion price (APR) of just one% p.a.

Preferential interest for 100% Personal Loan Guarantee Scheme

Month-to-month payment quantity for virtually any 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 every single HKD10,000 lent (according to that 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 place that is decimal. The APR is determined making use of 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 really a guide price, which include all relevant rates of interest, costs and fees associated with product, expreed as an annualised price. Please be aware that the specific month-to-month payment quantity may vary. Clients can reference the mortgage confirmation page for real information that is related.

Features

Optimum loan quantity is 6 times the common monthly earnings for any three months from January 2020 to February 2021, or 6 times the common monthly aeable income as calculated with regards to the income income tax demand note when it comes to economic 12 months 2019-2020, or HKD80,000, whichever is gloomier

Have a 12-month principal repayment holiday

Get 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 try to get financing beneath the 100% Personal Loan Guarantee Scheme, you need to:

  • be a current hsbc client
  • be described as a Hong Kong resident
  • be at the very least 18 years of age
  • have now been 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
  • not be bankrupts that are undischarged at the mercy of any bankruptcy petition or procedures during the time of application for the loan
  • never be a busine owner who may have subsisting credit facilities guaranteed in full beneath the SME Financing Guarantee Scheme (SFGS)
  • Item information

    Papers needed

    Automobile payroll customers

    1. A duplicate of your HKID showing permanent residency status
    2. Evidence of your latest addre that is residential
    3. Proofs of jobless status
    4. Non-auto payroll clients

      1. A duplicate of your HKID showing permanent residency status
      2. Evidence of your latest addre that is residential
      3. Proofs of jobless status
      4. Proofs of the past employment/occupation and primary income that is recurring
      5. 1. HKID card

        A duplicate of one’s HKID card showing that you have got permanent residency status.

        2. Evidence of your latest residential addre

        • Evidence of your latest domestic addre in your name (valid within a couple of months through the period of the application), eg bills, federal government lease or prices demand note, a duplicate of this tenancy contract or leasing receipt, any communication iued by any federal federal government division (eg an income tax demand note iued because of the Inland sales Department) or any general https://www.installmentloansgroup.com/installment-loans-or general public systems to you personally
        • If you should be just in a position to offer evidence of your latest domestic addre when you look at the title regarding the other person (eg a member of family) residing in such residential addre with you, please provide a declaration in your loan application explaining the situation and a copy of a bank statement iued to you

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