Find The Best Tax Loans In Hong Kong
Updated: 25 Aug 2025
Loan | Monthly Repayment | MoneyHero Reward | Total Cost of Loan | EIR | |||
|---|---|---|---|---|---|---|---|
 | CNCBI $mart Plus Personal Installment Loan | HK$12,596 | HK$1,000 | HK$2,304 | 1.65 % | ||
 | WeLend Instant Personal Loan | HK$12,746 | HK$15,300 | $5,904 | 1.00 % | ||
 | Citi Speedy Cash Personal Loan | HK$12,710 | HK$6,500 | HK$5,040 | 1.40 % | ||
 | OCBC Bank Personal Loan | HK$12,943 | HK$8,050 | HK$4,536 | 1.88 % | ||
 | BEA Instalment Loan | HK$12,950 | HK$1,000 | HK$10,800 | 3.36 % | ||
 | Standard Chartered Personal Instalment Loan | HK$12,749 | HK$7,180 | HK$5,976 | 1.85 % | ||
 | CreFIT Cash Loan (For Civil Servants and Professionals) | HK$12,767 | HK$22,400 | HK$6,408 | 1.38 % | ||
 | PrimeCredit Fixed Loan | HK$12,650 | HK$30,000 | HK$3,600 | 1.18 % | ||
 | UA i-Money Express Online Personal Loan | HK$12,645 | HK$8,000 | HK$3,478 | 1.10 % | ||
 | WeLab Bank Personal Instalment Loan | HK$12,740 | HK$7,000 | HK$5,760 | 0.78 % | ||
 | Mox Instant Loan (New customers) | HK$12,686 | HK$4,500 | HK$4,464 | 1.28 % | ||
 | HSBC Personal Instalment Loan | HK$13,280 | HK$1,100 | HK$18,720 | 6.05 % |
- APR as low as 1.65%
- Loan amount as high as HK$2,000,000 or 18 times of your monthly salary (whichever is lower)
- Flexible repayment period of 6 to 60 months
- Same day disbursement to your CNCBI account
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 CNCBI $mart Plus Personal Installment Loan
- The APR is calculated in accordance with the practices and methods set out in the relevant guidelines issued by the Hong Kong Association of Banks. An APR is a reference rate which includes the basic interest rate and other applicable fees and charges expressed as an annualized rate. The respective APRs are rounded to the nearest two decimal places.
- The APR 1.65% is calculated based on loan amount HK$2,000,000, a repayment tenor of 12 months and a monthly flat rate of 0.032%, including a handling fee of 0.5% per annum. The handling fee of 0.5% is only applicable for a repayment tenor of 12 months and a loan amount of HK$2,000,000. The handling fee of 1% is for other scenario.
- Handling Fee is charged 1% per annum based on loan amount and shall be deducted upon loan drawdown.
- Same-day fund disbursement service is applicable to customers who use CNCBI bank account for fund disbursement, and it only applies to our Bank’s service hours (Monday to Friday from 9:00 am to 8:00 pm and except Saturday, Sunday and public holidays). The processing time starts when the approved loan is confirmed with the Bank.
- Terms and conditions apply. To borrow or not to borrow? Borrow only if you can repay! Please visit the website
- Enjoy Cash Reward up to HK$33,800 upon successfully draw down
- Accurately calculate the customer's income and repayment ability using A.I. and big data
- Income and address proof waiver when borrowing HK$300,000 or below
- A.I. fully automated loan with simplified loan process; from application, approval to disbursement, all done online.
- A.I. processes loan quickly, cash is transferred automatically and instantly once the loan is confirmed.
- Utilizing A.I. big data to calculate personalized quotations, ensuring the loan amount based on your needs.
- WeScore new credit indicator, assist you to restore long term financial health by using 400 million sets of data!
(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.
- The above interest rates and repayment information are for reference only. The final terms will be determined based on the customer's application information and personal credit records.
- WELEND LIMITED reserves its absolute right on any loan approval decision and any disputes.
- Warning: You have to repay your loans. Don’t pay any intermediaries.
- Customer Service/ Complaint Hotline: 3590 6396
- Money Lender's License: 0900/2025
- Same-day approval and same-day loan disbursement
- The loan amount is up to 12 times of the monthly salary or HK$3,500,000, whichever is lower
- Repayment term up to 60 months, HK$0 handling fee
- No hidden terms and conditions
- Hong Kong Identity Card
- Income proof (for example: latest month's payroll slip, latest salary tax demand note, latest MPF contribution proof or latest three months' payroll account bank statement/account passbook (with first page showing your name and account number))
- Latest three months' full set of main bank statement/account passbook (with first page showing your name and account number)
- Latest residential address proof (for example: electricity bill or bank statement)
- Any other documents or certificates deemed appropriate.
- The Offer for Citigold Private Client/ Citigold Client / Citi ULTIMA cardholder is only applicable to the applicant who fulfill the following requirement from the date of application to the issue date of redemption letter (both dates inclusive):
- Citigold Private Client should maintain the account balance at HK$8,000,000 or above, Citigold Client should maintain the account balance at HK$1,500,000 or above, and Citi ULTIMA cardholder needs to hold the Citi ULTIMA card.
- Offers are only applicable to customers who do not hold any Personal Loan account offered by Citibank (Hong Kong) Limited at the time of application
- A cash coupon redemption letter will be mailed to the eligible customers' Hong Kong correspondence address according to Citibank's record
- Each eligible customer can enjoy the Reward once during the promotion period
- “Instant Disbursement Upon Loan Approval” is only applicable for disbursement to participating banks of Faster Payment System (FPS), and is subject to Citi’s loan approval and availability of FPS, while the crediting to the recipient’s account is subject to the recipient bank’s handling. Processing time may vary in some cases depending on the actual circumstances of individual applications
- The Annualised Percentage Rate ("APR") is as low as 1.40% (including a HK$3,000 cash rebate) or 1.56% (excluding any cash rebate), based on a monthly flat rate of 0.07%, a loan amount of HK$3,500,000, and a repayment period of 12 months.
- To borrow or not to borrow? Borrow only if you can repay!
- APR as low as 1.88%
- Loan amount up to HK$2,000,000 or 20X of your monthly salary (whichever is lower)
- Repayment tenor up to 60 months
- Personal Identification Document: HKID card or passport
- Income Proof: Recent pay slip, your bank statement or bank book (with your name and account number) showing your recent income, your recent income tax bill, proof of your last MPF contribution, employment letter or contract, etc.
- Address Proof: Recent bank statement, credit card statement, water bill, telephone bill etc. If your address is shown on your income proof, you will be exempted from submitting the address proof.
- Other documents (if necessary)
- For more details, please click here
- APR is calculated according to the method set out in the relevant guidelines under the Code of Banking Practice issued by the Hong Kong Association of Banks as the basis.
- If the loan amount is $1,500,000, the monthly flat rate for 12 months is 0.063%, if the loan is approved finally by the Company, the APR for 12 months is 3.30%, with a handling fee of 1% per annum included, the total loan repayment amount is HK$1,511,340.
- Example is for reference only, APR may differ with different loan amounts and tenors.
- For enquiries, please refer to OCBC Bank (Hong Kong) Limited - Personal Loan website.
- To borrow or not to borrow? Borrow only if you can repay!
- Fixed monthly flat rate as low as 0.15% with any loan amount
- APR as low as 3.36% and repayment period up to 60 months
- Rewards up to HK$3,000
- Loan amount up to HK$2,000,000
- 0% handling fee for online application
- No income proof required for property owners/BEA auto-payroll customers
- Hong Kong Identity Card
- Income Proof
Additional documents may be required for approval of application
The Annualised Percentage Rate ("APR") as shown is calculated according to the standard method set out in the Code of Banking Practice and is rounded up or down to the nearest 2 decimal places, and includes the full arrangement fee waiver. The APR is for reference only. Please note that the APR stated in the loan confirmation letter will not include any cash rebate. Actual APRs and monthly repayments may differ, and the details stated in the loan confirmation letter shall prevail.
- The loan amount can be up to 16 times the applicant’s basic monthly salary (maximum HK$2,000,000). The final approved loan amount, based on a multiple of the applicant’s monthly salary, is subject to change in accordance with individual circumstances.
- If the requested loan amount is approved in full, The Bank of East Asia, Limited will not notify the applicant. The Loan amount will be credited to the applicant’s designated bank account directly.
- In case of dispute, the decision of MoneyHero and BEA shall be final and conclusive
- Terms and conditions apply. To borrow or not to borrow? Borrow only if you can repay!
- Maximum loan amount of up to 18X monthly salary or HK$4,000,000 (whichever is lower)
- Max Loan Repayment Tenure: 60 months; 0% handling fee
- 7-Day Cooling-off Period - Early redemption fees and changes waiver with waiver on early redemption fee and charges
1. Hong Kong Permanent Identity Card
2. Latest residential address proof showing your name
3. For regular income earners, please enclose latest 1 month’s computer generated Payroll Slip or latest 1 month’s Bank Statements / Passbook showing name, account number and salary entries;
For irregular income earners, please enclose latest 3 months’ computer generated Payroll Slip or latest 3 months’ Bank Statements / Passbook showing name, account number and salary entries;
For self-employed applicants, please enclose a Business Registration Certificate AND latest Profits Tax Demand Note
- The Annualised Percentage Rate is 1.85% (for clients with loan amount of HK$1,500,000 or above and tenor of 12 months). APRs are reference rates which include the basic interest rate and other applicable fees and charges of a product expressed as an annualised rate. This APR does not include cash rebate. The preferential interest rates are only applicable to clients who are not holding any Standard Chartered Credit Cards at the time of this application, or clients who use the Bank’s auto-payroll services or SCB Priority Private / Priority Banking Customers. The Bank reserves the right to determine the applicable interest rate and handling fee, and to approve a loan application, which is to be considered on a case-by-case basis in accordance with the client’s credit records and other relevant factors as the Bank may consider in its absolute discretion. All offers are subject to Terms and Conditions
- The Annualised Percentage Rates (“APR”) are reference rates which include the basic interest rate and other fees and charges of a product expressed as an annualised rate (if applicable).
- Standard Chartered Bank reserves the right to determine the applicable interest rate and handling fee and acceptance of a loan application, which is to be considered on a case-by-case basis in accordance with the client’s credit records and other relevant factors.
- Eligibility: With fixed annual income of HK$96,000 or above; and Hong Kong permanent residents aged 20 or above
- The monthly flat rate shown above was rounded to 2 decimal places and for reference only.
- To borrow or not to borrow? Borrow only if you can repay!
- Cash Loan Approval Pledge^
- Incognito mode quotation with no impact on credit rating#, No income proof required.
- Repayment tenor of 6, 12, 18, 24, 30, 36, 42 or 48 months
- Loan amounts up to HK$500,000
- No extra and hidden fee
- #No credit report checks on Incognito mode quotation stage and authorize the credit report to complete the approval after that
(1) HKID Card
(2) Mobile phone
- For example, if the loan amount is HK$200,000 with repayment period in 24 months, and the calculation is based on 365 or 366 days in a year, the APR and Monthly Flat Rate (calculated using relevant guidelines from the Hong Kong Association of Banks) are 8% and 0.343% respectively. In this case, the monthly repayment amount and the total interest paid over the loan period would be HK$9,019.33 and HK$16,464.00 respectively.
- There is no drawdown fee or annual fee for this loan product. If the loan instalment is not fully repaid on the due date, a fixed late fee of HK$300 will be charged for each overdue instalment and late interest.
- CreFIT Cash Loan Applicant Requirements: Aged 18 or above, Hong Kong Permanent Resident, Hong Kong local mobile phone number, Average monthly salary of HK$5,000
- APR 1.98% - 36.00% in general
- Terms and Conditions apply
Warning: You have to repay your loans. Don’t pay any intermediaries.
- Inquiries and complaints hotline: 6369 2338
- Money Lender's License Number: 0819/2025
- VCREDIT Finance Limited
- Online application with 24/7 instant approval and loan disbursement
- No income proof is required
- Repayment terms up to 72 months
- No handling fee, no early settlement fee
- Only applicable to eligible customers. For more loan and offer details, please visit the PrimeCredit website
- All examples and information of interest rate are for reference only, and final approval is subject to actual circumstances of individual personal loan applicant
(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)
- 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
- Whole loan process is completed 24x7 online
- Apply online anytime anywhere, no face-to-face contact is required
- Property owners enjoy a large loan amount up to HK$1,500,000 with flexible cash out. No property deed is required
- Flexible repayment term of up to 24 months
- "MGM Program": Up to HK$60,000 for successful referral. Enjoy unlimited rewards with more
- ^Cash Reward Offer is subject to terms and conditions. For details, please click here.
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
- 1. The minimum and maximum repayment period is 3 months and 60 months respectively.
2. According to the Money Lenders Ordinance, the maximum annual percentage rate is 48%.
3. A representative example of total cost for a loan below is for reference only: - o Loan amount: HK$10,000
o Monthly installment of HK$1,672 for 6 months
o Interest rate: 0.092% per month
o Annual percentage rate: 1.1%
o Total repayment amount: HK$10,032 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
- APR as low as 0.78%*
- Loan amount up to HK$1,500,000 or up to 18x monthly salary (whichever is lower)
- Enjoy up to HK$29,586 rewards upon successful application and drawdown of specified loan amount
- Complete your application in as fast as 3 steps
- **After get your loan in 1 day at the earliest with HKD 0 handling fee
- Smart Management in 1 App - Complete loan applications, approvals, and management in 1 app, truly simple and convenient!
- Intelligent Financial Health Analysis - Free and unlimited access to credit score assessments.^
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
- **The estimated period is calculated from the day the loan agreement is signed. The actual approval period and the actual time the loan is disbursed may vary upon information provided by the applicants.
- The above APR is applicable for designated loan product with loan amount of HKD 600,000 and tenor of 39 months, including a cash rebate of HKD 9,000 and total repayment amount will be HKD 616,818.60. The APR will be 0.78% (including a cash rebate of HKD9,000) or 1.68% (without any cash rebate). The APR is calculated according to the guidelines issued in respect of the Code of Banking Practice and rounded to the nearest 2 decimal places and may vary for individual customers. The APR is a reference rate, which includes all applicable interest rates, fees and charges of the product, expressed as an annualized rate.
- We reserve the right to request customers to provide additional supporting documents for the loan application. The actual time for loan approval and the loan disbursement may vary depending on the information provided by the customer and are subject to the credit assessment result. Any loan application is subject assessment against normal lending criteria.
- ^Subject to terms and conditions. Customers must meet specified requirements, and actual circumstances may vary depending on individual situations. For details, please refer to the relevant terms and conditions on the WeLab Bank official website.
- To borrow or not to borrow? Borrow only if you can repay!
- Open a Mox Account successfully with the invitation code "MHCASH10", successfully apply for Mox Instant Loan via MoneyHero from now till 1 September 2025, after successful approval to enjoy up to HK$4,500 MoneyHero Exclusive Offer.
- Existing Mox customers can also earn HK$1,000 upon a successful loan application of HK$70,000 or above !
- The APR in app is "What you see what you get ", which means we are very transparent of the rate we can offer, compared to other banks that need to wait few hours or days to get the quotation.
- A guranteed 3.33% apr for all instant loan 500k, regardless of tenor
- Convenient to apply - in app, 24/7. Get your application result instantly, Get the cash as quick as one second to your Mox Account upon approval
- HKD 0 handling fee, receive the loan for the exact amount you apply for
- A flexible repayment period from 3 to 60 months
- Live chat available in the app if they want to know more
- Min to Max loan amount is 5k-2M
- No extra documents required apart from HKID. No extra documents required to top up instant loan. Complete the loan application in 5 mins!
- For an Instant Loan of HKD100,000 split into 60 monthly instalments, the Annualised Percentage Rate (APR) is 4.46%. With interest calculated on 365 days per year, the estimated daily interest amount is HKD6.31 (rounded to the nearest whole number).
- The fees for Instant Loan will be reviewed from time to time. General terms and conditions (in particular, Part B: Instant Loan of Schedule 3) and the Instant Loan Key Facts Statement apply. Details are available in the ‘Legal documents’ section of our website.
HKID
- You need to have a Mox Credit account. Your maximum loan amount depends on your available credit limit.
- Instant Loan Cash Reward Promotion Terms and Conditions apply. For an Instant Loan on a Mox Credit transaction of HKD500,000 spilt into 60 monthly instalments, the Annualised Percentage Rate (APR) is as low as 2.90% (which includes the cash reward of HKD6,888 which will be credited to your Mox Account on or before 31 July 2025), while the APR excluding cash rewards of Instant Loan Cash Reward Promotion is as low as 3.47%. If you apply to top up your active Instant Loan(s), the Eligible Instant Loan Amount applicable for this promotion will be additionally borrowed principal amount on top of the outstanding principal amount of your active Instant Loan(s)
- The fees for Instant Loan will be reviewed from time to time. General terms and conditions (in particular, Part B: Instant Loan of Schedule 3) and the Instant Loan Key Facts Statement apply. Details are available in the ‘Legal documents’ section of our website.
- The actual turnaround time may vary depending on the actual circumstances of individual applications.
- Terms and conditions apply, please refer to Mox website or Mox app for details.
- To borrow or not to borrow? Borrow only if you can repay!
- APR as low as 1.99% (monthly flat rate as low as 0.11%); HK$0 handling fee
- 1-minute approval; no income proof is required if you have maintained an auto payroll account with HSBC for one month or above
- Borrow up to HK$3,000,000 or 23 times your monthly salary, whichever is lower
- Flexible repayment period from 6 months to 60 months
- Cash withdrawal from over 1,000 HSBC's ATMs and branches
-
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.
- Processing time may vary in some cases depending on the actual circumstances of individual applications
- Minimum redraw is HK$3,000 and you must have had a Personal Instalment Loan account for at least 3 months. The Bank reserves the final right of allowing customers to redraw or not and has sole discretion to determine the redrawn amount and tenor
- Applications have to be submitted during the Bank’s service hours (Monday to Friday: 9 am - 8 pm, Saturday: 9 am - 5 pm, Sunday and public holidays: 12 noon - 12 midnight, or individual branch’s opening hours) with all required information (including without limitation a valid HSBC banking account number) and documents. The actual turnaround time starts when all the required information is successfully inputted into the Bank’s application evaluation system and the Bank may provide the instant application result and fund disbursement. Processing time may vary in some cases depending on the actual circumstances of individual applications.
- The actual repayment amount is subject to final approval
- Offer examples above are for reference only.
- Terms and conditions apply. For details, please refer to HSBC’s website. The monthly repayment amount, monthly flat rate, Annualised Percentage Rate (APR) and total interest amount shown are for indication only and are not meant to be final.
-
Terms and conditions apply. Please visit our website hsbc.com.hk/loan for all details, and terms and conditions regarding this promotion.
- Issued by The Hongkong and Shanghai Banking Corporation Limited
- To borrow or not to borrow? Borrow only if you can repay!
Tax Loan Information
What is tax loan?
Tax loans are typically offered by banks and lending companies during the tax season, designed to help individuals or businesses manage their tax-related expenses. Tax loans can assist you in covering your tax-related payments, such as Salaries Tax, Property Tax and Profits Tax, when you may not have the immediate funds to do so.
In addition to giving a helping hand in tax obligations, tax loans are increasingly used for various purposes, such as home improvements, education expenses, or medical bills, you may also use tax loans for accessing funds for investment opportunities, business ventures, or personal expenses. The flexibility of tax loans makes it a versatile financial tool, providing quick access to funds with low interest rates for a wide range of needs.
What is the difference between instalment loans and tax loans?
There are differences and similarities between the types of loans, in terms of application periods, purposes, repayment structures, documentation & approval as well as interest rates & fees:
|
Instalment Loans |
Tax Loans |
|
|
Application Period |
All year |
Tax season, mid-October to April next year |
|
Purpose |
General-purpose, for personal/business needs |
Mainly for tax-related expenses, but increasingly used for other purpose |
|
Repayment Structure |
Regular fixed instalments over a repayment period ranging from 3 months to 72 months |
Regular fixed instalments over a repayment period up to 24 months.
|
|
Documentation & Approval |
ID card, proof of income, proof of address |
ID card, proof of income, proof of address, tax slip |
|
Interest Rates |
Higher |
Lower |
When are tax loans available?
The availability and specific terms of tax loans in Hong Kong can vary among different financial institutions. Generally, these loans are available from October to April of the following year. For instance, financial institutions may begin offering tax loans from October 2024, up until April 2024 when the tax season in Hong Kong ends.
How do I apply for tax loans?
Applying for tax loans is usually easy. You can start by searching for the best tax loans offered by various financial institutions on MoneyHero's website, compare and choose the one that suits you best. Typically, you'll need to provide some documents related to your taxes, like tax slips or tax assessment notices. Once you've applied and been approved, the bank or lending company will let you know how you'll receive the money and when you need to repay it.
The application process can be divided into four steps, starting from the application submission and ending with loan approval:
1. Application Form: Complete the tax loan application form provided by the financial institution.
2. Supporting Documentation: Gather the necessary supporting documents as required. These documents may include tax returns, tax assessment notices, proof of income, bank statements, identification documents, and any other documentation specified by the lender.
3. Loan Amount and Repayment Plan: Determine the loan amount you require to cover your tax obligations. Some financial institutions may have a maximum loan limit based on your income or the expected tax refund amount. Additionally, discuss and decide on the repayment period that suits your financial situation
4. Loan Approval and Disbursement: After submitting your application and supporting documents, the financial institution will evaluate your application. If approved, you will receive a loan offer outlining the loan amount, interest rate, fees, and repayment terms. Upon acceptance of the tax loan offer, the funds will be disbursed to you, either directly to your bank account or through another agreed-upon method.
What are the requirements for tax loan applications?
When applying for a tax loan, financial institutions will require a variety of details and documents. Generally speaking, applicants will need to provide identification documents, personal contact information, employment details, proof of tax obligations, and proof of income.
Overview of Popular Loan Products on MoneyHero: Repayment Periods and Maximum Annual Percentage Rates (APR)
| Loan product | Repayment period | Highest APR | Example |
| Promise Easy Loan | 3 Months - 84 Months | 4.49% or above, the highest is 48% | Loan amount of HK$200,000 with a 36-month repayment period, at an APR of 4.49%, the monthly repayment amount is HK$5,940, and a total repayment amount of HK$213,840 |
| PrimeCredit Fixed Loan | 3 Months - 72 Months | 1.18% or above，the highest is 48% | The monthly repayment amount is HK$839, the total interest expense is HK$68, and the total repayment amount is HK$10,068 for a Loan amount of HK$10,000 with an interest rate of 0.6% per annum and a repayment period of 12 months |
| WeLend Personal Loan | 3 Months - 84 Months | 1.88% or above, the highest is 48% | Loan amount of of HK$240,000 with a 36-month repayment period, at an APR of 3.03%, the total repayment amount is HK$251,189 |
| DBS Debt Consolidation Loan | 3 Months - 84 Months | 6.38% or above, the highest is 30.57% | Loan amount of HK$200,000 with a 48-month repayment period, at an APR of 10.42%, inclusive of a 2% loan opening fee, a monthly repayment amount of HK$4,967, and a total interest expense of HK$38,416 |
| UA「NO SHOW」Personal Loan | 3 Months - 60 Months | 1.68% or above, the highest is 48.00% | Loan amount of HK$10,000, at an APR of 30%, 6 months instalment, the monthly repayment amount is HK$1,815, total repayment of HK$10,890 |
| Standard Chartered Personal Instalment Loan | 12 Months - 60 Months | 1.85% or above, the highest is 36% | Loan amount of HK$200,000 with a 24-month repayment period, at an APR of 6.28%, the monthly repayment amount is HK$8,873.33 repayment per month and a total interest expense of HK$12,960 |
| CNCBI $mart Plus Personal Instalment Loan | 12 Months - 72 Months | 1.65% or above, the highest is 38.08% | Loan amount of HK$200,000 with a 24-month repayment period, at an APR of 5.03%, handling fee of 1% of loan amount per annum, handling fee of HK$4,000 for the whole term, flat rate per month: 0.129%, total interest for the whole period of HK$6,192 |
| Citi Speedy Cash Personal Loan | 6 Months - 60 Months | 1.78% or above, the highest is 35.78% | Loan amount of HK$3,500,000 with a 12-month repayment period, at an APR as low as 1.78% |
| PrimeCredit Civil Servant & Professional Loan | 3 Months - 72 Months | 1.18% or above, the highest is 48% | Loan amount of HK$10,000 with a 12-month repayment period, at an interest rate of 0.6% per annum, the monthly repayment amount is HK$839, the total interest expense is HK$68, and the total repayment amount is HK$10,068 |
| CNCBI $mart Plus Personal Installment Loan - Debt Consolidation | 12 Months - 60 Months | 7.33% or above, the highest is 38.08% | Loan amount of HK$20,000 with a 60-month repayment period, at an APR of 6.89%, fixed monthly fee of 0.20%, inclusive of 1% handling fee per annum, monthly repayment amount is HK$373 |
| BOC Express Cash Instalment Loan Balance Transfer | 12 Months - 60 Months | 5.93% or above, the highest is 32.51%。 | Loan amount of HK$20,000 with a 24-month repayment period, at an APR of 10.01%, inclusive of 1% handling fee per annum, monthly repayment amount is HK$9,173 |
| CCB (Asia) Personal Instalment Loan | 6 Months - 60 Months | 1.56% or above, the highest is 13.00% | Loan amount of HK$400,000 with a repayment period of 60 months, with a monthly repayment amount of HK$7,747 |
| WeLend Card Debt Consolidation Loan | 3 Months - 84 Months | 1.88% or above, the highest is 48% | Loan amount of HK$360,000 with a repayment period of 60 months, at an APR of 8.05%, and the total repayment amount is HK$422,578 |
| PrimeCredit Balance Transfer Loan | 3 Months - 72 Months | 1.18% or above, the highest is 48% | Loan amount of HK$10,000 with a repayment period of 12 months, at an interest rate of 0.6% per annum, the monthly repayment amount is HK$839, the total interest expense is HK$68, and the total repayment amount is HK$10,068 |
| AEON Flexi Loan | 6 Months - 60 Months | 4.49% or above, the highest is 36% | Loan amount of HK$600,000 with a repayment period of 12 months, at an APR of 4.49%, total interest of HK$14,400 and total repayment of HK$614,400. |
| Hang Seng Debt Consolidation Instalment Loan | 6 Months - 72 Months | 6.68% or above, the highest is 36% | Loan amount of HK$150,000 with a repayment period of 72 months, at an APR of 4.63%, and a total loan repayment amount of HK$171,604.80. |
| UA i-Money Express Online Personal Loan | 3 Months - 60 Months | 1.68% or above, the highest is 36% | Loan amount of HK$10,000 with a repayment period of 6 months, at an APR of 30%, a monthly repayment amount of HK$1,815, and a total repayment amount of HK$10,890 |
| Promise Easy Loan | 3 Months - 84 Months | 1.12% or above, the highest is 48% | Loan amount of HK$200,000 with a repayment period of 36 months, at an APR of 4.49%, a monthly repayment amount is HK$5,940 and a total repayment amount of HK$213,840 |
| CreFIT ClearCard Debt | 3 Months - 24 Months | 1.98% or above, the highest is 36% | Loan amount of HK$200,000 with a repayment period of 24 months, at an APR of 8%, a monthly repayment amount is HK$9,019.33 and a total repayment amount of HK$16,464.00 |
| OCBC Bank Personal Loan | 6 Months - 60 Months | 2.16% or above, the highest is 36% | Loan amount of HK$1,500,000 with a repayment period of 12 months, at an APR of 2.16% (including HK$9,000 cash rebate) or 3.30% (excluding cash rebate), inclduing the annual 1% handing fee, total repayment amount is HK$16,464.00 |
Tax Loan Calculator
Having trouble calculating the repayment? Hoping to learn more about loan formula? We’ll handle the task of filtering precise loan offers tailored to your profile and needs. Simply use our free tax loan calculator. With a few clicks, we will present you with a comprehensive list of available loan options for you, enabling you to confidently choose the most suitable one.
Best Tax Loans Offers
When comparing tax loans, consider factors such as interest rates, fees, and repayment terms for your needs. MoneyHero has narrowed down the best tax loan offers of 2024 so you can secure the most favourable terms and maximise the benefits of borrowing against your expected tax refund.
Having questions when selecting Tax Loans?
When applying for a tax loan, consider the following factors to ensure that you are getting the best tax loan for your financial needs.
Loan Terms and Interest Rates: Understand the loan terms, including the repayment period, interest rates, and any additional fees or charges associated with the loan. Compare the terms offered by different lenders to ensure you are getting the best tax loan package for your needs.
Repayment Options: Consider the repayment options available for the tax loan. Assess your financial situation and choose an option that aligns with your ability to make timely payments. Keep in mind that late payments will incur penalties which can affect the future chances of getting tax loans with favourable offers/lower APR.
Terms and Conditions: Carefully read and understand all the terms and conditions associated with the tax loan. Pay attention to any clauses related to early repayment, late payment penalties, or loan refinancing.
Tax loans may also be used for other purposes not related to taxes. You may choose to use tax loans for purposes like debt consolidation, where they can combine high-interest debts into a single and more manageable loan. Or may opt to fund home improvement projects or cover unexpected emergency expenses, such as medical bills or car repairs. Additionally, tax loans could also be used for education-related expenses, investment in small businesses, or even travel and vacation costs. However, you should still check with the specific lender for their policies and terms, as they may vary.
Typically, the lowest APR that a tax loan can offer is lower than that of a personal loan. However, it is not guaranteed that tax loans will always provide more favourable interest rates compared to personal loans. The interest rates for tax loans and personal loans can vary depending on various factors, including the lender, your creditworthiness, the loan amount, and the repayment term.
Applying for a tax loan online is far more convenient than traditional in-person and paper applications. Online applications can be made from anywhere with internet access, benefiting those in remote areas or with limited branch access.
Another advantage is saving significant time, allowing you to complete forms, upload required documents, and submit everything with just a few clicks, even outside of regular business hours. Furthermore, online tax loans are typically processed faster than paper applications, as digital submissions allow for instant review and more efficient processing. The use of digital documentation eliminates physical paperwork, reducing the risk of document loss, and streamlining the process for lenders who receive information in a digital format.
MoneyHero lets you compare the best tax loan offers available on the market, ensuring that you get the best deals that cater to your financial needs. By applying through MoneyHero, you can research multiple lenders, and review their interest rates, terms, and fees. In addition, discover exclusive tax loan offers that you will not find on other online platforms.