Promotion Period: From 18 November 2024 until 31 March 2025 (inclusive of both dates)
- Preferential Loan Interest Rate
Using designated banking services^ to enjoy annualised percentage rate (APR) as low as 1.88%
- High Loan Amount
As high as HKD2,000,000 or 8 times of monthly income (whichever is lower)
- Loan Handling Fee Waiver
- Up to 24 Months Repayment Period
Interest Rate Table
| Loan Amount (HKD) |
Loan Tenor |
12 Months |
18 Months |
24 Months |
1 time of the tax payable amount or below and HKD200,000 or above |
Annualised Percentage Rate（APR） |
1.88% |
/ |
/ |
| Monthly Flat Rate |
0.0841% |
/ |
/ |
| Monthly Instalment Amount*（HKD） |
841.74 |
/ |
/ |
Above 1 time of tax payable amount and HKD1,000,000 or above |
Annualised Percentage Rate（APR） |
2.68% |
2.73% |
2.78% |
| Monthly Flat Rate |
0.1201% |
0.1195% |
0.1203% |
| Monthly Instalment Amount*（HKD） |
845.34 |
567.51 |
428.70 |
Above 1 time of tax payable amount and HKD500,000 to HKD999,999 |
Annualised Percentage Rate（APR） |
3.88% |
3.93% |
3.98% |
| Monthly Flat Rate |
0.1731% |
0.1714% |
0.1718% |
| Monthly Instalment Amount*（HKD） |
850.64 |
572.70 |
433.85 |
Above 1 time of tax payable amount and HKD200,000 to HKD499,999 |
Annualised Percentage Rate（APR） |
4.28% |
4.33% |
4.38% |
| Monthly Flat Rate |
0.1906% |
0.1884% |
0.1887% |
| Monthly Instalment Amount*（HKD） |
852.39 |
574.40 |
435.54 |
^ Designated banking services include securities account, personal internet banking and e-Statement service.
@ The monthly instalment amounts are calculated by every HKD10,000 loan amount and the basis of "Rule of 78" on the apportionment of principal and interest, and are rounded to the nearest 2 decimal places and for reference only. For details of "Rule of 78", customers may refer to Frequently Asked Questions or the "Smart Consumers / Personal Credit" in the Hong Kong Monetary Authority's website.
Loan Enquiry
Application Documents
Please submit a copy of the following documents (together with application form) to branches for handling loan application:
- Hong Kong Permanent Identity Card
- Residential address proof issued within latest 3 months
- Latest 3 months salary proof (salary slip / bank statement or savings passbook showing salary record)
- 2023/24 personal notice of assessment and demand for tax
- Latest mortgage loan repayment slips or annual statement (for mortgaged property owners)
Note:
- All application document(s) submitted are not returnable, regardless of whether the application is approved or not.
- Joint application is only applicable to married couple, and is required to submit individual application form together with the required document(s).
- The Bank may require customer(s) to submit additional application document(s).
Early Repayment
- Early repayment of the Loan is permissible subject to repayment of the outstanding principal amount of the Loan, the interest that would otherwise have been payable on the next monthly repayment date and a sum equal to 2% of the outstanding principal amount of the Loan with a minimum of HKD500 on the date of actual repayment.
- Customers should consider whether the interest saved from early repayment might be unable to cover the early repayment fee/interest involved before deciding whether to pay off the loan early or not.
- Customers can check with the Bank about total amount involved in early repayment (including outstanding loan balance, early repayment charge, next month payable interest) and the amount of outstanding interest before making a decision of repaying early or not. Please refer to Frequently Asked Questions.
- The promotion period is from 18 November 2024 until 31 March 2025, inclusive of both dates ("Promotion Period").
- Customers who submit application for Personal Tax Loan ("Loan") of Shanghai Commercial Bank Limited (the "Bank") within Promotion Period, and drawdown the Loan on or before 30 April 2025, with loan amount of HKD200,000 or above, and fulfill the following requirements ("Eligible customers") are entitled to enjoy the preferential interest rate including full loan handling fee waiver. The requirements include:
| I. |
Set up securities account of the Bank before drawdown; and |
| II. |
Set up personal internet banking of the Bank and register e-Statement Service before drawdown
| Loan Tenor |
12 Months |
18 Months |
24 Months |
| Loan Amount (HK$) |
Annualised percentage rate (APR) |
| 1 time of the tax payable amount or below and HKD200,000 or above |
1.88% |
Not Applicable |
Not Applicable |
| Above 1 time of tax payable amount and HKD1,000,000 or above |
2.68% |
2.73% |
2.78% |
| Above 1 time of tax payable amount and HKD500,000 to HKD999,999 |
3.88% |
3.93% |
3.98% |
| Above 1 time of tax payable amount and HKD200,000 to HKD499,999 |
4.28% |
4.33% |
4.38% |
|
- Risk Disclosure Statement: Investment involves risks. The prices of securities fluctuate, sometimes dramatically. The price of a security may move up or down, and may become valueless. Customers should not only base on this marketing material alone to make any investment decision. This promotional content has not been reviewed by Securities and Futures Commission. Terms and Conditions apply. For details, please contact our bank staff.
- For customers who fail to meet the aforementioned requirements, the annualised percentage rate under the Personal Instalment Loan applies. For more details, please refer to Rates of Personal Instalment Loan in the Bank's website (Personal Banking→ Borrow→ Personal Instalment Loan→ Rates).
- Loan amount is up to HKD2,000,000 or 8 times of monthly income, whichever is lower.
- Customers can choose a loan tenor of 12, 18 or 24 months for this promotion.
- An annualised percentage rate (APR) is a reference rate which includes the basic interest rate and other fees and charges of a banking product expressed as an annualised rate. The APR is calculated based on the guidelines as set out in the Code of Banking Practice, including the loan handling fee waiver, and is rounded to the nearest two decimal places.
- The interest rates (including APRs and the monthly flat rates) listed in the Interest Rate Table is applicable to designated loan amount and is for reference only. The APRs may vary for individual customers. The Bank will consider the loan applications on a case-by-case basis in accordance with the customer's credit records and other relevant factors. The final interest rate, tax loan amount and loan tenor offered will be subject to the details stated on Loan Confirmation Letter. The Loan will also be subject to the applicable terms and conditions.
- The APRs listed in the Interest Rate Table is for reference only. Under same monthly flat rate and loan tenor, the APR may vary upon different loan amount. The final interest rate offered will be subject to the details stated on Loan Confirmation Letter.
- Early repayment of the Loan is permissible subject to repayment of the outstanding principal amount of the Loan, the interest that would otherwise have been payable on the next monthly repayment date and a sum equal to 2% of the outstanding principal amount of the Loan with a minimum of HKD500 on the date of actual repayment. Customers can check with the Bank about total amount involved in early repayment and the amount of outstanding interest before making a decision of repaying early or not.
- The promotion offer is not applicable to all the Bank staff or their relatives.
- The Bank reserves the right to decide whether to accept or reject the application with reference to the applicant's credit report and the information provided by the applicant. If necessary, The Bank reserves the right to request the applicant to provide extra documents for further approval purposes. The loan is subject to the terms set out in the loan document agreed between the loan applicants.
- The Bank reserves the right to terminate or amend the promotion offers and terms and conditions without prior notice. In case of any disputes, the decision of the Bank shall be final.
- In case of any discrepancy between the Chinese and English versions of this Terms and Conditions, the English version shall prevail.
Key Facts Statement
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Terms and Conditions
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Frequently Asked Questions
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Reminders about Responsible Borrowing
- You should have a clear understanding of your financial condition, daily expenses, and actual borrowing needs.
- You should have assessed your repayment ability and avoid over-borrowing.
- You should repay any outstanding balance on time to avoid late payment charges and additional overdue interest charged by the bank.
- To borrow or not to borrow? Borrow only if you can repay!
In case you wish to enquire whether a third party is appointed by our Bank for referring loan application, please contact customer service hot line 2818 0282.
