unsecured installment loans

A government loan that is designed to allow you to relieve anxiety that is financial these a down economy.

A government loan that is designed to allow you to relieve anxiety that is financial these a down economy.

The 100% Personal Loan Guarantee Scheme, introduced by HKMC Insurance Limited (HKMCI), was created to assist clients that are unemployed plus in need of that loan of these challenging circumstances.

Preferential interest levels

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

Preferential rate of interest for 100% Personal Loan Guarantee Scheme

Monthly payment quantity for each and every HKD10,000 lent (considering that loan tenor of 72 months and APR of just one%)

For the first one 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 almost any HKD10,000 lent (considering that loan tenor of 72 months and APR of just one%)

being an example, the month-to-month payment quantity as well as the Annualised Percentage price (APR) are determined predicated on 72-month payment duration and loan number of every 10,000. The month-to-month payment quantity is curved as much as 1 decimal spot. The APR is determined making use of technique specified in appropriate instructions 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 a guide price, including all relevant rates of interest, fees and fees for the item, expreed as an annualised price. Take note that the particular month-to-month payment quantity may vary. Clients can make reference to the loan verification page for real information that is related.

Features

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

Have a 12-month principal repayment holiday

Receive a complete rebate on the premium interest once the mortgage happens to be settled in complete

Simple tips to use

Application hotline

Papers installment loans Florida no credit needed

Eligibility

To use for that loan underneath the 100% Personal Loan Guarantee Scheme, you need to:

  • be A hsbc that is existing consumer
  • be a Hong Kong resident
  • be at the very least 18 years old
  • have now been used in Hong Kong for at the least three months between 2020 and February 2021 january
  • Have been unemployed for at least 2 months at the right time of the job submiion
  • never be bankrupts that are undischarged susceptible to 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)
  • Item information

    Papers needed

    Automobile payroll clients

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

      1. A duplicate of your HKID showing residency status that is permanent
      2. Evidence of your latest domestic addre
      3. Proofs of jobless status
      4. Proofs of one’s past employment/occupation and primary income that is recurring
      5. ۱٫ HKID card

        A duplicate of your HKID card showing that you’ve got permanent residency status.

        ۲٫ Evidence of your latest domestic addre

        • Proof of your latest addre that is residential your name (valid within a few months through the period of the application), eg bills, government lease or prices need note, a duplicate of this tenancy contract or leasing receipt, any communication iued by any federal government division (eg a taxation demand note iued because of the Inland income Department) or any public figures for your requirements
        • If you are just able to offer proof of your latest domestic addre into the title of this other person (eg a member of family) living to you, please give a statement in your application for the loan explaining the specific situation and a duplicate of the bank declaration iued for your requirements this kind of domestic addre

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