We found 5 Results for

Sort By

Refine

MoneyHero.com.hk's Providers

Revolving Loan

Latest OfferSponsored Product
Latest Offer:
New customer could get up to HK$1,100 cash rebate
Loan amount up to 8x monthly salary
Loan amount up to 8x monthly salary

Features

From 1 June to 31 August 2019, customers are entitled to the following offers:
Enjoy 0% interest for the first 6 months, with a fixed monthly handling fee as low as HK$100
Up to a 4-month fixed monthly handling fee rebate
Perpetual withdrawal fee waiver
First year waiver for annual fee
Credit limit of up to 8 times your monthly basic salary (maximum HK$500,000)
HK$500 cash rebate for new BEA customers
Successfully apply online and get extra HK$600 cash rebate

The information displayed above is for reference only. The actual rates offered to you will be based on your credit score and is subject to the provider's approval.

Revolving Loan

Latest Offer
Latest Offer:
No income proof is required for loan amounts of $50,000 or less
Straight through online application, face recognition identification, 7x24 direct transfer cash via FPS
Straight through online application, face recognition identification, 7x24 direct transfer cash via FPS

Features

Instant approval and withdrawal, no income proof is required for loan amounts of $50,000 or less
Minimum monthly repayment
No fixed repayment period, instant cash withdrawal
7x24 Direct transfer cash for revolving loan account to any other back account
No handling fee, first year waiver for annual fee, no early settlement fee
For more loan details, please visit PrimeCredit’s website
Money Lender’s License No.: 383/2019

The information displayed above is for reference only. The actual rates offered to you will be based on your credit score and is subject to the provider's approval.

Revolving Credit Facilities

Latest Offer
Latest Offer:
Up to HK$200 cash rebate for online application and document submission
Loan amount of up to HK$1,200,000 or 10 times of the monthly salary
Loan amount of up to HK$1,200,000 or 10 times of the monthly salary

Features

Loan amount of up to HK$1,200,000 or 10 times of the monthly salary
First 3-month introductory interest rate 1.90% p.a. Annualized percentage rate is 1.91%.
Apply online to enjoy HK$100 cash rebate*
Submit supporting document(s) required by the Bank for the loan application to enjoy HK$100 cash rebate#
An annual fee of 1% of approved credit limit per annum shall apply (up to a maximum of HK$1,000), subject to a first- year annual fee waiver
Interest calculated daily on outstanding amount only and no handling fee
1-minute approval and instant cash withdrawal
Promotional period commences on 22 February 2019 and expires on 31 July 2019, both dates inclusive
*Only applicable to successful loan applicants via website with an approved loan amount of HK$50,000 or above
# Only applicable to any customer who successfully submit supporting document(s) required by the Bank for the loan application with an approved amount of HK$50,000 or above
Terms and Conditions apply. For details, please visit HSBC website

The information displayed above is for reference only. The actual rates offered to you will be based on your credit score and is subject to the provider's approval.

Overdraft Facilities

Features

Full waiver of the arrangement fee for the first year (1% p.a. on the credit limit thereafter, minimum HK$200)
Max Loan Amount: the lower of 8X monthly salary or HK$1,000,000

The information displayed above is for reference only. The actual rates offered to you will be based on your credit score and is subject to the provider's approval.

Refill Cash Revolving Credit

Features

Standardized annual rate of 4.8% for the first 3 months
Withdrawal fee waiver
Maximum credit limit up to HK$ 1,000,000 or 8 times of monthly salary
Annnual Fee: 1% of the approved credit limit (Min of HK$100)
Lowest APR: 7.02%

The information displayed above is for reference only. The actual rates offered to you will be based on your credit score and is subject to the provider's approval.
MoneyHero.com.hk compares loans that can be paid back over terms of between 12 and 84 months. The APR interest rate you will be charged will depend on your personal circumstances, and will be between APR: 2% and APR: 59%. This is a representative example of what it may cost: a Loan of HK$200,000 over 12 months at 7.02% APR and monthly interest rate at 0.31% would equate to monthly repayments of HK$17,287, and the total repayment of the loan that you pay back would be HK$207,444.

Need some help?

No worries, we've got you covered!

What is a Line of Credit?

A line of credit, or a credit line, is a source of funds that a borrower can tap into any time they wish. They are a flexible type of loan, and you only need to apply for it once to get money whenever you need it. It works like a credit card in the sense that you have a maximum credit limit, and monthly fees that you need to pay. The difference is that you don't need a plastic card to charge your purchases with, because you get the actual amount in cash instead. Credit lines are also called revolving loans where the amount that you borrow will be subject to a maximum loan amount and no fixed tenor for some credit line offers. You may be subject to a minimum payment requirement when you do take funds from your credit line, it all depends on the bank or company. Credit lines are still loans, however. Aside from the monthly interest and other fees you might have for taking out a credit line, you might also be asked for a collateral for a secured line of credit. Unsecured lines of credit will not have collateral, but will have a higher interest rate to account for the greater risk to the lender.

What are the different Credit Line Loans in the market?

There are a number of banks and lenders that offer consumers a line of credit here in Hong Kong. Check out MoneyHero.com.hk's Personal Loan page and click on the Credit Line tab to see all available offers. Compare the offers from Dah Sing Bank, DBS, Hang Seng Bank, HSBC, and Standard Chartered among others. Don't limit yourself with the bank you currently have an account with or that you have used over time, always compare all the banks and their different products. MoneyHero.com.hk's comparison tool will let you compare different interest rates, tenor periods, and total repayment values of different loan offers. You can also find out about the special deals from these banks, such as welcome gifts for successful application on your credit line, special rates, switch between secured and unsecured loans, special business offers and other promotions and privileges. The comparison tool is easy to use: you'll easily find the right credit line with the lowest interest rates that fits your needs, we help make your banking easier.

How to apply for a Personal Line of Credit?

Applying for a loan with MoneyHero.com.hk is easy. Just go to the Personal Loan page and click on the Credit Line tab. Use the filters to refine your search and to calculate your monthly interest rate, your monthly repayment fees, the annual percentage rate, and the total repayment you will be making. Once you've decided on which credit line you want, just click on the Apply Now button and start with your banking in now time! Applicants for a revolving loan or a line of credit must be between 18 years of age and 65 years, and should also be a resident of Hong Kong. During your application, you might be asked to submit a few additional documents. These documents depend on which loan provider you apply for. Loan providers may ask for proof of income and proof of residence, so be ready with copies of these documents just in case. So what are you waiting for? Compare and apply for your personal line of credit today!

What kind of Revolving Loans are in the market?

Revolving Loan can be further categorized into overdraft account, which has cheque facility; and standby credit line which usually appears in form of a cash card.

Who will choose a personal line of credit?

People with periodic short term fund needs such as SME(small and medium sized enterprise) owners or day traders could choose credit line / revolving loan to fit their short term liquidity needs with repayment flexibility.

What should I keep in mind about a personal line of credit?

A personal line of credit is a flexible borrowing tool that you could withdraw loan money anytime and there is no penalty for early repayment. But banks and financial institutions usually charge an annual fee and withdrawal fee, and they have a minimum monthly payment as a reference to adjust the interest rate. You should compare the fees and charges of different banks and financial institutions before applying for the loan.

How much can I borrow from a personal line of credit?

Banks and financial institutions offer personal lines of credit in amount ranging from HK$50,000 to HK$3,000,000 or 3 - 12 times your monthly salary. They will also adjust the loan amount based on your repayment record.

What is the interest rate for a personal line of credit?

The interest rate for a personal line of credit is normally 5% - 16%, depending on your loan amount -- you pay lower interest rates when you borrow more. Some banks and financial institutions also offer low interest rates or interest-free deals for the first few months.

Who shouldn't apply for a personal line of credit?

There is no specific repayment period for a personal line of credit, which means you can borrow again and again as long as you don't exceed the credit limit. If you are those consumers who can't resist temptation, you should apply for a personal instalment loan which allows you to have a regular repayment schedule and avoid over-borrowing.

What are the differences between a personal line of credit and a credit card overdraft?

Both personal line of credit and credit card overdraft have a credit limit and their interest rates are calculated on a daily basis, and Both ways have a minimum payment. the interest rate of a personal line of credit is generally lower than that of a credit card overdraft.

Confused about personal loan terms?

Glossary terms to know for first-time personal loan applicants