Updated: 6 Aug 2025
(1) HKID Card
(2) Proof of address: such as utility bills, bank statements, etc., which need to show your name and most recent address.
(3) (Optional) Proof of income can be waived (subject to meeting credit record requirements)
HKID
(1) HKID Card
(2) Mobile phone
(3) ATM card
Parts of the cash rebate will be distributed by WeLab Bank, all cash rebate is subject to the terms & conditions.
1. HKID card
2. Latest 3 months’ income proof
3. Address proof (issue date within 6 months)
4. Practicing certificate issued by relevant association, if you are a professional (e.g. medical doctor, accountant, lawyer or engineer)
5. Banking statement / passbook showing your name and account number
1. HKID card / passport / other identification document
2. Bank statement or passbook showing your latest 1-month income proof (including the copy of front cover page of your passbook which shows your name and account number) or any type of income proof.
Please provide the latest 2-month income proof if you are commission based income earner
3. If you are self-employed, please provide Business registration certificate and the latest profits tax demand note, and
the latest 3-month company account statements
4. Residential address proof showing your name issued within the latest 3 months (e.g. electricity bills or bank statements)
5. Proof of professional qualification (For professionals only)
6. If you are not holder of Hong Kong permanent identity card, please submit passport/ Exit/ Entry Permit for Travelling to and from Hong Kong and Macau/ identity card of place of origin and working visa issued by the Hong Kong SAR Government
7. Full copy of the front cover page of passbook / bank statement of the loan disbursement account
8. Autopay authorization form
9. Loan confirmation letter(s) or latest 1-month statement(s) (showing your name and account number) of credit
card(s) and loan(s) that you wish to transfer to $martPlus Debt Consolidation
1. HKID card
2. Latest 3 months’ income proof
3. Address proof (issue date within 6 months)
4. Practicing certificate issued by relevant association, if you are a professional (e.g. medical doctor, accountant, lawyer or engineer)
5. Banking statement / passbook showing your name and account number
The promotional period for the offers is from 7 August 2025 to 2 September 2025. Only applicable to selected Payroll customers who successfully apply for and draw down an approved loan of HK$1,500,000 or above during the promotional period. For a repayment period of 12 months, the monthly flat rate is 0.11%, the Annualised Percentage Rate (APR) is 2.47% (without any cash rebate and RewardCash) or 1.99% (taking into account HK$2,500 cash rebate and $1,300 RewardCash). The APR is calculated using method specified in relevant guidelines issued by The Hong Kong Association of Banks, and is rounded up or down to the nearest two decimal places. An APR is a reference rate, which includes all applicable interest rates, fees and charges of the product, expressed as an annualised rate. For your eligible rates, please call our hotline 2748 8080, log on to HSBC Online Banking or the HSBC HK App for details.
It comprises the total sum of up to HK$12,000 cash rebate and $4,000 RewardCash under the Successful Application Offer. Payroll customers who successfully apply for and draw down an approved loan of HK$1,500,000 or above with a repayment period of 60 months during the promotional period will be eligible for a total sum of up to $16,000 rebate. Terms and conditions apply.
Terms and conditions apply. Please visit our website hsbc.com.hk/loan for all details, and terms and conditions regarding this promotion.
To borrow or not to borrow? Borrow only if you can repay!
The above example is for reference only. The actual APR, total interest and repayment amount may vary for individual customer and subject to the loan amount, repayment period and credit condition of the customer, please contact the staff of the Bank for details.
(1) HKID Card
(2) Mobile phone
Warning: You have to repay your loans. Don't pay any intermediaries
Enquiry and Complaint Hotline: 2111 2999
Money Lender's Licence No.: 647/2025
Professionals
Warning: You have to repay your loans. Don't pay any intermediaries
Enquiry and Complaint Hotline: 2111 2999
Money Lender's Licence No.: 647/2025
Property deeds and Land Registry registration are not required, avoiding extra expenses
The above interest rates and repayment information are for reference only.
New and existing customers refer to the customers who have not any loan transaction with the Company in the past 24 months from the date of application. For e-Cash Revloving Loan applicants who open account, before Personal Instalment Loan application, within the Promotion Period is granted for exemption to entitle the above reward.
New and existing customer is entitled for the Welcome Offer if the following requirements are satisfied within the Promotion Period:
The account opening cash reward only applicable to New Customers who successfully opened an e-Cash Revolving Loan Account
New and existing customers who successfully drawdown personal instalment loan are eligible to drawdown the cash reward, and such reward shall be calculated according to the amount of personal instalment loan
Loan approval and electronic transfer service is available from Monday to Friday (9:00am-6:30pm), Saturday (9:00am-12:30pm) and except to Sunday & public holidays. The actual date of transfer is subject to the transfer servicing hours of each individual bank. United Asia Finance Limited reserves the right to make final decision on loan approval
United Asia Finance Limited reserves the right to make final decision on loan approval
Warning: You have to repay your loans. Don't pay any intermediaries.
Enquiry and Complaint Hotline: 2681 8888
Money Lender’s Licence No.: 0805/2025
1. Hong Kong Identity Card
2. Recent income proof, e.g., payroll slip, tax demand note, monthly bank account statement/passbook with your salary or MPF statement
3. Employment proof
4. Current residential proof, e.g. utility bills, bank statement
New and existing customers refer to the customers who have not any loan transaction with the Company in the past 24 months from the date of application. For e-Cash Revloving Loan applicants who open account, before Personal Instalment Loan application, within the Promotion Period is granted for exemption to entitle the above reward.
New and existing customer is entitled for the Welcome Offer if the following requirements are satisfied within the Promotion Period:
The account opening cash reward only applicable to New Customers who successfully opened an e-Cash Revolving Loan Account
New and existing customers who successfully drawdown personal instalment loan are eligible to drawdown the cash reward, and such reward shall be calculated according to the amount of personal instalment loan
Loan approval and electronic transfer service is available from Monday to Friday (9:00am-6:30pm), Saturday (9:00am-12:30pm) and except to Sunday & public holidays. The actual date of transfer is subject to the transfer servicing hours of each individual bank.United Asia Finance Limited reserves the right to make final decision on loan approval
United Asia Finance Limited reserves the right to make final decision on loan approval
Warning: You have to repay your loans. Don't pay any intermediaries.
Enquiry and Complaint Hotline: 2681 8888
Money Lender’s Licence No.: 0805/2025
New and existing customers refer to the customers who have not any loan transaction with the Company in the past 24 months from the date of application. For e-Cash Revloving Loan applicants who open account, before Personal Instalment Loan application, within the Promotion Period is granted for exemption to entitle the above reward.
New and existing customer is entitled for the Welcome Offer if the following requirements are satisfied within the Promotion Period:
The account opening cash reward only applicable to New Customers who successfully opened an e-Cash Revolving Loan Account
New and existing customers who successfully drawdown personal instalment loan are eligible to drawdown the cash reward, and such reward shall be calculated according to the amount of personal instalment loan
Loan approval and electronic transfer service is available from Monday to Friday (9:00am-6:30pm), Saturday (9:00am-12:30pm) and except to Sunday & public holidays. The actual date of transfer is subject to the transfer servicing hours of each individual bank.United Asia Finance Limited reserves the right to make final decision on loan approval
United Asia Finance Limited reserves the right to make final decision on loan approval
Warning: You have to repay your loans. Don't pay any intermediaries.
Enquiry and Complaint Hotline: 2681 8888
Money Lender’s Licence No.: 0805/2025
Employed - Regular Income:
Latest 1 month income proof, and
A recent address proof issued within the last 3 months
Freelancer or Employed - Variable income:
Latest 6 months income proof, and
A recent address proof issued within the last 3 months
Business Owner:
Latest 3 months personal bank statement, and
Latest 6 months company bank statements or salary tax demand note, and
A recent address proof issued within the last 3 months
As everyone’s financial situation and needs are unique, there are no one-size-fits-all loans. Rates and requirements for loan applications vary depending on circumstances, making certain loans a better fit for you. MoneyHero brings you what you need to know about personal loans, as well as elements to consider so that you can find the loan that best suits you.
Depending on your credit rating, your APR can be affected. This will influence your interest rate as well as limit how much you can borrow.
Rating |
Class |
Credit Score |
Estimated APR Range |
A |
Excellent |
3526 – 4000 |
1-10% |
B |
Good |
3417 – 3525 |
10-15% |
C |
3240 – 3416 |
||
D |
Fair |
3214 – 3239 |
15-20% |
E |
3143 – 3213 |
||
F |
3088 – 3142 |
||
G |
Poor |
2990 – 3087 |
20-25% |
H |
2868 – 2989 |
||
I |
Very Poor |
1820 -2867 |
25%+ (Or rejection) |
J |
1000-1819 |
MoneyHero brings you statistics on some of the best personal loan rates available this month offered by major financial institutions.
Lender |
APR as low as |
Minimum Annual Income (HKD) |
1.85% |
$96,000 |
|
1.56% |
$72,000 |
|
1.65% |
$84,000 |
|
1.98% |
$60,000 |
|
1.68% |
(None) |
|
1.18% |
$96,000 |
|
6.38% |
$100,000 |
With so many offers available to you, consider the following factors to determine which deal is best for you.
APR, or Annual Percentage Rate, is a crucial financial metric used to express the total cost of a loan over a year, including both the interest rate and any additional fees that may be associated with borrowing. APR provides you with a standardised way to compare different loan offers, allowing them to understand the true cost of borrowing more clearly.
When evaluating personal loan deals, considering the APR is essential because it takes into account not only the nominal interest rate but also any processing fees, closing costs, and other charges that may apply. This comprehensive view ensures that you are not misled by a lower interest rate that might be offset by hidden fees, which could make one loan significantly more expensive than another.
The monthly payment represents the amount a borrower needs to repay each month over the loan's term. In the context of personal loans, this payment typically includes both the principal amount (the original loan amount) and the interest charged. Understanding your monthly payment is crucial for managing your budget, as it directly affects your cash flow and financial stability.
When comparing personal loan deals, the monthly payment plays a significant role because borrowers need to ensure they can comfortably afford it within their existing budget. A lower monthly payment might seem appealing, but it could extend the loan term and increase the total interest paid over time, potentially making the loan more expensive in the long run.
Fees are charges imposed by lenders in addition to the principal and interest costs of a loan. In the context of loans, these fees can significantly impact the total cost of borrowing and should be carefully considered when comparing personal loan deals. A loan with a low interest rate may still be expensive if it has high fees.
Common types of fees include late payment fees and prepayment penalties. Late payment fees occur when a borrower misses a payment deadline and can add an additional financial burden. Prepayment penalties may be applied if a borrower pays off the loan early, which can deter individuals from paying off debt sooner to save on interest.
Funding time refers to the duration it takes for a lender to disburse the approved loan amount to the borrower after a loan application is submitted. This timeframe varies significantly among lenders and can range from a few hours to several days, depending on the lender’s policies, the type of loan, and the complexity of the application.
If you are in urgent need of funds—such as for medical emergencies, unexpected expenses, or significant purchases—a quicker funding time can be critical. A loan that offers rapid approval and same-day funding might be more appealing than one with a lower interest rate but a longer processing time.
Payment flexibility refers to the options and terms a lender offers regarding how you can manage your loan repayments. In the context of loans, payment flexibility can include aspects such as the ability to make extra payments without penalties, adjust payment schedules, and choose between fixed or variable repayment amounts.
Considering payment flexibility is crucial when comparing personal loan deals because it directly impacts a borrower’s ability to manage their finances effectively. For instance, a loan with flexible repayment options allows borrowers to make additional payments when they have extra funds, which helps them pay off the debt faster and reduce interest costs. This feature can be particularly beneficial for those who may experience fluctuations in income.
Some loans may offer other consumer-friendly features that enhance the borrowing experience and provide more value to the borrower. These features can significantly affect the overall satisfaction and financial implications of a loan. One common example of this is rewards programs, which may offer cash back or points for on-time payments, allowing borrowers to earn benefits while managing their debt.
Pros |
Cons |
---|---|
|
|
Understand your creditworthiness as it influences the loan terms and interest rates you'll qualify for.
Clearly define why you need the loan and how much you require. This helps in choosing the right loan amount.
Be aware of any origination fees, interest rates, and other costs associated with the loan.
Ensure your monthly debt payments are manageable relative to your income. Lenders often consider this ratio when approving loans.
Compare different lenders to find the best personal loan rates and terms that suit your financial situation.
If your credit score is holding you back from better rates and higher limits, having a co-signer or co-borrower may improve your chances.
Gather necessary documentation like proof of income, employment details, and identification (e.g. Hong Kong ID card or passport), as these will be required during the application process.
Have a solid plan in place for how you will repay the loan, taking into account your monthly budget and any potential changes in your financial situation.
It may be daunting when you’re thinking about loan repayments before you borrow. Consider the following elements while assessing your options to ensure that you can make the most of your loan.
Budget assessment involves a comprehensive evaluation of your income, expenses, and financial obligations to determine how much you can feasibly allocate toward loan repayments. The first step in budget assessment is to calculate your total monthly income, which includes salaries, bonuses, and any additional sources of revenue.
Next, list all your monthly expenses, categorising them into fixed expenses (like rent or mortgage, utilities, and insurance) and variable expenses (such as groceries, entertainment, and discretionary spending). This helps identify areas where you may cut back to make room for loan payments. It's essential to ensure that your total monthly expenses, including your new loan payment, do not exceed a sustainable percentage of your income.
The loan amount refers to the total money you borrow, while loan terms encompass the length of time you have to repay the loan and the associated interest rates.
Consider your needs when deciding your loan amount. Borrowing only what you need helps prevent a cycle of debt, as larger loans often lead to higher monthly payments and increased interest costs. Lenders typically base the maximum loan amount on your creditworthiness and income, so it's important to find a balance between your needs and your ability to repay.
Loan terms can significantly affect your monthly payments and total interest paid over the life of the loan. Shorter terms may result in higher monthly payments but lower overall interest costs, while longer terms usually mean lower monthly payments but can lead to paying much more in interest over time.
Repayment options refer to the various methods and schedules available to repay the loan, while repayment terms encompass the duration and conditions under which the loan must be repaid.
One important repayment option is the choice between fixed and variable interest rates. Fixed rates provide consistency, ensuring that your monthly payments remain the same throughout the loan's life, making budgeting easier. In contrast, variable rates can fluctuate based on market conditions, potentially leading to lower initial payments but uncertainty over time.
A personal instalment loan, also known as an unsecured loan, is a type of loan that allows you to borrow a specific amount of money and repay it through fixed instalments over a period of time. Unlike a secured loan that requires collateral like a house or car, a personal loan only requires a monthly payment that includes both the loan's principal and interest.
If you can pay off the loan principal and interest on time, you can use the money from your loan to finance your personal goals, such as renovating your home or planning your next dream vacation. Instead of paying off the loans in one lump sum, repaying them as instalments over 1 to 5 years could help ease your financial burden.
Personal loans can be applied in a majority of banks and lending companies here in Hong Kong. Popular lenders include the likes of Citibank, Hongkong and Shanghai Banking Corporation(HSBC), China Construction Bank, Standard Chartered Bank, Hang Seng Bank,vDBS Bank, WeLend, Promise, United Asia Finance, and many more. They provide loans at competitive rates and are often paired with equally tempting promotions and offers. You can also use MoneyHero's online comparison tool to easily find out the interest rates, loan amounts, total repayment values, and terms offered by various personal loan providers in Hong Kong, then instantly select the right personal instalment loan with the lowest monthly rates to suit your needs.
While low monthly interest rates may seem appealing for a personal instalment loan, they may not always offer the best overall deal. Additional factors such as handling and administrative fees, should be taken into consideration, as they can significantly impact the total cost. To make an informed decision, you can compare the Annual Percentage Rates (APR) of different loans, as they provide a more accurate representation of the borrowing costs. Additionally, be sure to watch out for any hidden charges that could potentially increase your expenses.
While certain financial companies advertise "instant loan approval," this typically refers to passing the initial screening of your application. In reality, you may still need to wait for a period ranging from 10 to 60 minutes to receive the actual approval. Certain banks may take longer, with approval times ranging from 2 to 5 working days.
You will repay the loan monthly with a fixed amount of principal and interest, and the interest for the loan amount will usually be calculated based on a flat monthly rate. If you know your total loan amount, monthly flat rate, and repayment period, you can calculate the monthly interest. You can consider using our free personal loan calculator to help.
Having trouble calculating the repayment amount? Hoping to learn more about loan formulas? We’ll handle the task of filtering precise loan offers tailored to your profile and needs. Our personal loan calculator makes it easy for you to compare different loan options and choose the one that works best for you. It only takes a few clicks to see a complete list of suitable loans that match your criteria.
Formula to calculate monthly loan payment:monthly payment = principal x (interest rate / 12)
Loans are financial products that offer a person or a business the necessary funds to fulfil their financial requirements or needs. Typically provided by financial institutions, loans come with specific repayment terms and conditions. Based on the terms that you agreed to, you will need to repay both the initial loan amount and the accumulated interest.
There are various types of loan products available in Hong Kong. If you are looking to borrow money or take out a personal loan (also known as P loan) for a particular financial goal, you should try to learn and understand the differences between each loan product before deciding the one that is best for your needs:
A personal instalment loan allows you to borrow a fixed amount of money and repay it over a set period of time with
interest, usually in equal monthly instalments. These loans can be used for a wide range of purposes. If you don't have a specific need for a loan, such as paying taxes, clearing credit card debts, buying a car, or requiring quick cash, you may choose personal instalment loans due to its greater flexibility in terms of loan amounts and repayment periods.
Banks and lending companies typically offer personal tax loans to help individuals pay their taxes, particularly during tax season. These loans allow you to borrow a fixed amount and repay it in manageable instalments, easing the financial burden for those with higher income.
This type of unsecured personal loan helps you simplify and manage your debts. It allows you to combine multiple debts into a single loan with a lower interest rate and a fixed repayment plan. This way, you can reduce the overall amount of interest you pay and manage your debts more effectively. This type of loan is usually intended for consolidating existing debts.
A car loan is a type of personal loan provided by a bank to finance a car purchase. You can use the car loan to purchase a vehicle without needing to provide the car as collateral. Car loans have no restrictions on the age and model of the car, allowing you the freedom to choose any vehicle type, regardless of whether it is a new or used car. You are required to repay the initial loan amount and interest in fixed monthly instalments within the repayment period.
Revolving loans, also known as revolving credit or credit line, offer you a flexible pool of funds that you can withdraw within an approved limit. You can borrow and repay it whenever you want, and the credit becomes available again for future use. This helps you manage your cash flow effectively. Interest is only charged on the outstanding balance on a daily basis. A monthly handling fee may apply based on the lender's policy.
Tailored for small and medium-sized enterprises (SMEs) and businesses, these loans are generally used to provide the necessary financial support for businesses for their operations, expansion, or investment. For example, the loans can help them purchase equipment, expand factories, or supplement working capital.
Geared towards assisting students in paying for their education, these unsecured loans enable students to borrow a fixed amount and repay it over a specific period of time with interest. The most common student loan available in Hong Kong is the Grant and Loan Scheme provided by the Student Finance Office. While a “Grant” is a subsidy for tuition fees, a “Loan” provides loans with low interest for university students.
The shortest repayment period for personal loan applications can be 60 days, while some lenders offer a flexible repayment period of up to 84 months.
The maximum loan amount you can borrow is typically 6 to 18 times your monthly income, with a limit of HK$4 million. The actual amount you qualify for depends on factors like your credit score and income status, regardless of the lender's maximum offering. Banks and financial institutions may also consider your Debt Servicing Ratio (DSR) to determine the loan amount. In general, maintaining your DSR below 40% increases your chance of receiving a favourable loan offer. We advise you to maintain your DSR within this percentage.
Bank loans and loans from lending companies are different in terms of interest rates, loan amounts, eligibility criteria, repayment terms, and the application process:
|
Bank Loans |
Lending Company Loans |
Interest Rates |
Generally lower |
Generally higher |
Loan Approval Process |
More strict |
More lenient |
Requirements |
More strict |
More flexible |
Collateral |
Required for some loans |
Often unsecured |
Repayment Terms |
Less flexible |
More flexible |
Customer Service |
Personalized |
Less personalized |
Loan Amount |
Higher depending on collateral |
Lower |
Loan Purpose |
More strict |
More flexible |
The process for a loan application largely depends on the lender and the type of loan you are applying for. Some common steps include comparing loan options, checking the eligibility criteria and required documents for the chosen loan, submitting the loan application form and required documents, and waiting for approval. Both traditional banks and virtual banks offer online loan applications that can be completed through a quick and easy process on their mobile banking apps.
However, not all of them will approve applications solely through the app or online channels. In certain cases, they may require additional steps or direct communication with you to proceed with the application. The approval process may involve connecting with you through phone calls to finalise the application.
The supporting documents needed vary depending on the lender and the type of loan you are applying for. In general, the documents listed below are typically required when applying for a loan:
1. Identity Proof: This could be in the form of a Hong Kong ID card or a passport.
2. Proof of Income: This may include a salary statement, bank statement, or tax returns.
3. Proof of Address: This might involve providing an utility bill or a bank statement.
4. Proof of Employment: This could entail an employment contract or a letter from your employer.
5. Collateral Documents: If the loan requires collateral, you will need to provide documents related to the collateral, such as a property deed or a vehicle registration.
If you've read through our page and are struggling to gain a thorough understanding of which personal loan to select due to the unfamiliar terms and information about personal loans, don't worry; we've got you covered. We have a personal loans glossary where you can find a comprehensive list of terms with easy-to-understand definitions. Our glossary can be a valuable tool for anyone who wants to educate themselves on the world of personal finance. So, if you're confused about any of the terms we use on this page, be sure to check out our personal loans glossary for clarity.
MoneyHero has partnered with the most trusted banks and financial institutions in Hong Kong to help you find the right financial products. Through our comparison engine, you can compare credit cards, personal loans, mortgages, medical insurance, travel insurance, HK stock accounts, US stock accounts, payroll accounts, and other financial products. We provide accurate, up-to-date information and an unbiased overview of financial products in Hong Kong so that you can make the best choice, saving your time and money.