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“Super-Fast” Debt Clearance Plan

MoneyHero.com.hk Exclusive OfferSponsored Product
MoneyHero.com.hk Exclusive Offer:
Up to HK$5,000 cash rebate (including HK$3,200 exclusive reward) for successful applications via MoneyHero.com.hk during 1 to 30 June 2019. Please click “See more” for more details.

Features

From 1 to 30 June 2019, customers are entitled to following offers:
  1. APR as low as 2.91%
  2. Repayment period of up to 72 months
  3. Loan amount of up to 21 times your monthly basic salary (maximum HK$1,200,000)
  4. New customers of The Bank of East Asia are entitled to following exclusive offers for successful applications via MoneyHero.com.hk during 1 to 30 June 2019 and drawn down before 31 July 2019
Draw Down Loan Amount (HK$) Cash rebate for 12 to 24 months repayment period
1,000,000 – 1,200,000 HK$2,650
500,000 – 999,999 HK$1,250
200,000 – 499,999 HK$850
50,000 – 199,999 HK$450
Draw Down Loan Amount (HK$) Cash rebate for 36 months or above repayment period
1,000,000 – 1,200,000 HK$5,000
500,000 – 999,999 HK$2,050
200,000 – 499,999 HK$1,300
50,000 – 199,999 HK$600
*“New customers” refers to those customers who have not held any BEA deposit account, mortgage loan, consumer loan, credit card, or MPF account in the 6 months prior to the application submission date. BEA reserves the final right to interpret the definition of “new customers”.
The welcome offers for BEA new customers and rewards for online applications cannot be entitled if customers are rewarded for MoneyHero.com.hk exclusive offers.
Cash rebate(s) will be credited to the customer’s repayment account 4 - 6 weeks after the loan draw down date.
The Annualized Percentage Rate ("APR") of 2.91% is calculated based on a monthly flat rate of 0.03%, a loan amount of HK$100,000 and a 12-month repayment period. The APR 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. Please note that the actual APR may differ.
In the event of any dispute, the decision of MoneyHero.com.hk and BEA shall be final and conclusive.

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.

Balance Transfer

MoneyHero.com.hk Exclusive OfferSponsored Product
MoneyHero.com.hk Exclusive Offer:
Up to HK$4,000 Wellcome cash coupon for successful applications via MoneyHero.com.hk
Annualized Percentage Rate as low as 2.23% and monthly flat rate 0.1% (calculation included 30% interest discount); The Actual APR may vary for individual customers
Annualized Percentage Rate as low as 2.23% and monthly flat rate 0.1% (calculation included 30% interest discount); The Actual APR may vary for individual customers

Features

From 1 to 30 June 2019, customers are entitled to exclusive supermarket coupon by successful application via MoneyHero.com.hk. Details are as followed:
Loan Amount successfully applied and approved via MoneyHero.com.hkExclusive Supermarket coupon
HK$800,000 or aboveHK$4,000
HK$500,000 to HK$799,999HK$2,000
HK$300,000 to HK$499,999HK$1,500
HK$200,000 to HK$299,999HK$1,000
30% off on total interest payment, $0 handling fee
Loan amount up to 21X of your monthly salary or HK$1,200,000
Repayment term up to 72 months
The 30% Interest Discount is applicable to customers who apply during Promotion Period from January 1, 2019 to December 31, 2019 and successfully drawdown a Citi Card Debt Consolidation Loan on or before January 10, 2020.
Offer for reference only
The Annualized Percentage Rate ("APR") of 2.23% is calculated based on the monthly flat rate 0.1% with 30% interest discount. The actual APR applicable may differ. An APR is a reference rate which includes the basic interest rate and other fees and charges of a product expressed as an annualized rate.

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.

Balance Transfer

Latest OfferSponsored Product
Latest Offer:
From now till 31 July, Samsung Galaxy S10+ (128GB) (value HK$6,998) will be rewarded upon successful application
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

Free professional analysis on your current card and loan indebtedness, and suggest the most interest saving and fastest repayment plan
No handling fee, no early settlement fee
Repayment terms up to 60 months
Express approval. Cash will be disbursed within 1 hour from confirmation of loan
For more loan details, please visit PrimeCredit’s website
Money Lender’s License No.: 383/2019
During the promotion period, Samsung Galaxy S10+ (128GB) (value HK$6,998) will be rewarded for customer who successfully apply for and withdraw PrimeCredit’s designated Personal Loan of HK$120,000 net loan amount with tenor 24 instalments or above.
The promotion period is from 10 June to 31 July 2019 (both days inclusive). Terms and conditions apply. The offers cannot be used in conjunction with other promotions. PrimeCredit reserves the right to terminate the offers or amend the details and terms & conditions without prior notice. For the details of the loan and promotion, please contact PrimeCredit. PrimeCredit reserves its absolute rights on the final loan decision and any disputes.

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.

Balance Transfer Program

MoneyHero.com.hk Exclusive OfferSponsored Product
MoneyHero.com.hk Exclusive Offer:
Up to HK$1,800 cash coupon (including HK$800 exclusive reward) for successful applications via MoneyHero.com.hk and drawdown of the approved loan
Annualized Percentage Rate (“APR”) as low as 4.17% (calculated based on monthly flat rate 0.1% with loan amount of HK$100,000 and repayment period of 12 months); Actual APR may vary due to different loan amount and tenor.
Annualized Percentage Rate (“APR”) as low as 4.17% (calculated based on monthly flat rate 0.1% with loan amount of HK$100,000 and repayment period of 12 months); Actual APR may vary due to different loan amount and tenor.

Features

From 7 March to 31 August 2019 (both dates inclusive), new customers* who successfully apply and drawdown specific instalment loan amounts with OCBC Wing Hang Credit Limited will be entitled to supermarket cash coupon from the company as follows:
Loan amount (HK$) Supermarket Cash Coupon (HK$)
300,000 or above 1,000
100,000 to 299,999 300
30,000 to 99,999 100
From 7 March to 31 August 2019, new customers will also be entitled to HK$800 exclusive reward from Moneyhero.com.hk by successful application via MoneyHero.com.hk and drawdown of the approved loan with OCBC Wing Hang Credit Limited.
APR as low as 4.17%
Loan repayment tenor can be as long as 60 months
Loan amount of up to 18 times of your monthly basic salary (maximum HK$1,800,000)
*“new customers” refer to those customers who have not opened or maintained (whether in the customer's sole name or jointly with any third party) any loan account (including but not limited to Instalment Loan, Mortgage and Revolving Credit) with OCBC Wing Hang Credit Limited at any time during the 1 month immediately preceding the date of the new customers' loan application.
The cash coupons from OCBC Wing Hang Credit Limited will be mailed to the new customers' correspondence address within 2 months after the date of drawdown of the loan.
The promotion is only applicable to new customers without any past due within 2 months from the date of drawdown. If the customers' loan account is not in good standing or the customers have made an early settlement of the loan, the customers' right to receive the cash coupons from the Company will be forfeited.
To redeem from MoneyHero.com.hk the exclusive rewards, please send your drawdown letter* to coupon@moneyhero.com.hk and complete the redemption form sent via email for verification and follow-up.
  • *For your information security, please cover your private information, such as home address, but leave your name and reference number to verify that your application has been approved.
  • Promotional period: From 7 March to 31 August 2019
Annualized percentage rate ("APR") is a reference rate which includes the basic interest rates and other fees and charges of a product expressed as an annualized rate.
Before you make request for early repayment for Instalment loan, please refer to "FAQ" of OCBC Wing Hang Credit Limited website.
Terms and conditions apply. For details, please visit OCBC Wing Hang Credit Limited 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.

Balance Transfer Personal Loan

Latest OfferSponsored Product
Latest Offer:
Privileged customers exclusively enjoy fixed monthly flat rate 0.265%
Loan amount up to 21 times of monthly salary. Tenor up to 72 months
Loan amount up to 21 times of monthly salary. Tenor up to 72 months

Features

Privileged customers exclusively enjoy fixed monthly flat rate 0.265%. APR is 7.98% (12-month tenor) and 8.83% (36-month tenor)
Other customers can enjoy fixed personalized interest rate
Loan amount up to 21 times of monthly salary or HK$1,000,000 (whichever is lower)
Cash amount up to 10 times of monthly salary can be directly credited to your designated bank account
Tenor options of 12, 18, 24, 36, 48, 60 and 72 months*
To enjoy the personalized interest rate, handling fee and/or other privileges, customers must submit the application of the loan and successfully drawdown on or before 30 April 2020.
Privileged customers include Civil Servants, staff of Hospital Authority and designated professionals (including doctors, dentists, pharmacists, accountants, lawyers, actuaries and full-time teachers) with designated credit quality defined by Fubon Bank (Hong Kong) Limited (the “Bank”) and drawdown amount of HK$200,000 or above. The Bank reserves the right to interpret the definition of designated credit quality and Professionals and obtain documentary proof of occupation and qualification from the customer when necessary.
Personalized interest rate offered is determined based on customers’ credit quality and the personal information submitted. APR for monthly flat rate 0.166% is 5.68% (12-month tenor), 5.83% (18-month tenor), 6.34% (24-month tenor), 6.44% (36-month tenor), 6.50% (48-month tenor), 6.54% (60-month tenor) and 6.58% (72-month tenor) respectively. APR, calculated in accordance with the guidelines as set out in the Code of Banking Practice, is a reference rate expressed as an annualized rate which includes the basic interest rate of the loan and the non-refundable handling fee deducted from loan amount.
Handling fee calculation is based on loan tenor and charged based on 1% of the loan amount (for tenor of 12 and 18 months) or 1.2% of the loan amount (for tenor of 24, 36, 48, 60 and 72 months) annually, and it will be deducted from loan amount (if applicable).
The interest rates and repayment amounts are for reference only.
* If customer inputs a tenor option which is not offered by the Bank, the above monthly flat rate and APR will be determined according to the nearest tenor option available by the Bank. The total repayment and monthly repayment amounts will also be calculated according to the monthly flat rate of the respective tenor option offered by the Bank.
Terms and conditions apply. For details, please visit Fubon Bank 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.

DreamCash Balance Transfer

Latest Offer
Latest Offer:
Up to HK$6,000 Credit Rebate for loan drawdown
Consolidate your outstanding credit card and personal loan balances to a single account; Fixed monthly repayment; Shorten entire repayment period
Consolidate your outstanding credit card and personal loan balances to a single account; Fixed monthly repayment; Shorten entire repayment period

Features

Loan Amount up to HK$1,200,000 or 21 times of monthly salary (whichever is lower)
Customers successfully apply DreamCash Balance Transfer during the promotion period from 25 April 2019 to 31 August 2019 and drawdown on or before 30 September 2019 can get the fabulous offers below:
  1. Transfer each outstanding balance of other banks’ credit card with the amount of HK$50,000 or above to DreamCash Balance Transfer is entitled to HK$200 Credit Card Credit Rebate, up to HK$3,000 Credit Card Credit Rebate.
  2. Extra HK$2,800 Credit Card Credit Rebate for online application.
  3. Extra HK$200 Credit Card Credit Rebate by using the account in Bank of Communications for disbursement and repayment.
Flexible repayment tenor up to 72 months
The final loan amount will be subject to the circumstance of individual customer. The approval of the loan (as well as the final approved loan amount) is subject to the Bank's final decision.
The Bank reserves the rights to terminate the relevant offer without prior notice.

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.

Debt Consolidation Loan

Latest Offer
Latest Offer:
Earn up to $3,300 Coupons for successful online application
Loan amount up to 21x monthly salary, 72-month repayment
Loan amount up to 21x monthly salary, 72-month repayment

Features

Monthly flat rate as low as 0.04% (Annualised percentage rate: 3.83%)
One-minute approval to get the cash you need
High loan amount up to $2,000,000 or 21x monthly salary (whichever is lower)
Flexible repayment period of up to 72 months
Loan Amount of $50,000 to $299,999 can earn $400 coupon. Loan Amount of $300,000 to $499,999 can earn $800 coupon. Loan Amount of $500,000 to $999,999 can earn $2,000 coupon. Loan Amount of $1,000,000 or above can earn $3,000 coupon
Only customers who successfully apply for Debt Consolidation Loan via DBS Bank (Hong Kong) Limited from 1 to 30 June 2019, and draw down the approved Loan on or before 15 July 2019, will be entitled to extra $300 supermarket cash coupons
Handling Fee: 1.5%
Minimum salary requirement: fixed annual income of $100,000 or above
A redemption letter will be sent to the eligible customer by mail within 2 months after the end of the Promotional Period ( on or before 31 August 2019 ) for the customer to redeem the Coupons at designated redemption center
Coupons are only applicable to customers whose Loan accounts are in good standing and not in default (as determined by the Bank at its sole discretion). If the customer’s credit standing is unsatisfactory or the customer early repays the full amount of the Loan, the Bank reserves the rights to stop issuing the Coupons or deduct the face value of the Coupons awarded to the customers from the relevant Loan account without prior notice
Terms and conditions apply. For details, please visit DBS website
The above information is for reference only, the final approved interest rate, loan amount and instalment period are subject to the financial condition of customers.

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.

Personal Instalment Loan

Latest Offer
Latest Offer:
Up to HK$600 cash rebate for online application and document submission
Loan amount of up to HK$1,500,000 or 12 times of the monthly salary
Loan amount of up to HK$1,500,000 or 12 times of the monthly salary

Features

Promotional period commences on 16 May 2019 and expires on 24 June 2019, both dates inclusive
Monthly flat rate as low as 0.12%^ (APR as low as 2.70%)
Apply online can get cash rebate of up to HK$500*
Submit supporting document(s) to enjoy HKD100 cash rebate#
HK$0 handling fee”
Loan amount of up to HK$1,500,000 or 12 times of the monthly salary
Choice of repayment period from 6 months to 60 months
1-minute approval and no income proof is required if customer maintained an auto payroll account with HSBC for one month or above
30-day service pledge – early redemption fees waiver
Cash withdrawal from over 1,000 HSBC's ATMs and branches
^Only applicable to customers who have successfully applied for and drawn down the loan during the promotional period with an approved loan amount of HK$800,000 or above. Monthly flat rate is 0.12% and Annualised Percentage Rate (APR) is 2.70% for a repayment period of 12 months.
*A customer is entitled to HK$100 cash rebate for approved loan amount of HK$100,000 to less than HK$200,000, or is entitled to HK$200 cash rebate for approved loan amount of HK$200,000 to less than HK$500,000, or is entitled to HK$500 cash rebate for approved loan amount of HK$500,000 or above.
#To be eligible for HK$100 cash rebate, a customer must have successfully submitted supporting document(s) required by HSBC for the loan application via HSBC website or HSBC Personal Internet Banking during the Promotional Period with an approved loan amount of HK$100,000 or above
“HK$0 handling fee is not applicable to any re-drawn part of the loan. Any re-draw of the repaid loan amount is subject to a re-draw change
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.

Debts Consolidation Loan

Latest Offer
Latest Offer:
Loan amount up to HK$2,000,000; Repayment terms up to 84 months

Features

UA all-round solutions help you to clear all credit card debts instantly
Minimize your interest expenses
Flexible repayment terms
Tailor-made interest rate
Loan amount of up to HK$2,000,000
Flexible repayment term of up to 84 months; No handling fee
Money Lender's Licence No.: 0871/2018

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.

Standard Chartered Debt Consolidation Program

MoneyHero.com.hk Exclusive Offer
MoneyHero.com.hk Exclusive Offer:
Up to HK$1,000 + exclusive HK$1,800 supermarket cash coupon for successful applications of specific loan amounts via MoneyHero.com.hk
Monthly flat rate as low as 0.164%; Loan amount up to 18X monthly salary; 72 months repayment
Monthly flat rate as low as 0.164%; Loan amount up to 18X monthly salary; 72 months repayment

Features

From 1 to 30 June 2019, new applicants who successfully apply loan amount of HK$200,000 to HK$499,999 is entitled for welcome offer HK$500 supermarket cash coupon from Standard Chartered Bank; welcome offer of HK$1,000 supermarket cash coupon for loan amount of HK$500,000 or above
Applicants who successfully apply loan amount less than HK$200,000 via MoneyHero.com.hk is entitled for exclusive HK$800 supermarket cash coupon; exclusive HK$1,800 supermarket cash coupon for loan amount of HK$200,000 or above
0% handling fee
Maximum loan amount of up to 18X monthly salary or HK$2,000,000 (whichever is lower)
Max Loan Repayment Tenure: 72 months
Online Service Pledge for application submitted before noon will be followed up within the same business day
To redeem from MoneyHero.com.hk the exclusive rewards, please send your drawdown letter to coupon@moneyhero.com.hk and complete the redemption form sent via email for verification and follow-up.
For your information security, please cover your private information, such as home address, but leave your name, drawdown amount and reference number to verify that your application has been approved.
Promotional period: 1 to 30 June 2019
The APR and Monthly Flat Rate shown in HK$700,000 or above are the special offer to selected clients who are also holding a mortgage loan.
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.

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 Debt Consolidation Loan?

A debt consolidation loan is a type of personal loan which, as the name suggests, you can use for debt financing. Consolidate all of your other loans such as credit card debt or smaller personal loans into one. With a debt consolidation loan, you are essentially refinancing your old loans into one with better terms. It's one of the best options to clean out your debts and ease your repayments. There are a several ways a debt consolidation loan can help you. First, you only have to make one payment on the same date every month. This is far more convenient than making one payment on different loans. You then only have to calculate and keep track of one interest rate instead of several. The biggest benefit here is that the interest on a debt consolidation loan is usually much lower than, say, the interest rate on your credit card. You could cut down on interest payments which could help you manage your debt and have a brighter financial future.

How to compare Debt Consolidation Loan from various loan providers in Hong Kong?

On MoneyHero.com.hk, you'll find debt consolidation loans offered by HK banks and lenders. You can compare the services from Citibank, Dah Sing Bank, China Construction Bank, DBS, Standard Chartered and more. Learn about their interest fees, monthly rate, repayment schedule and special offers such as cash coupons and cash rebates, all in an easy to understand format. Use the loan calculator on the MoneyHero.com.hk personal loan page and specify how much you plan to borrow and how you want to make your payment. Your monthly repayment and total repayment will be computed so you can easily compare the loans from different providers. It's easy to compare the loans based on which ones offer the lowest monthly flat rate or the one that offers the lowest monthly repayment on your loan.

How to Apply for a Debt Consolidation Loan in Hong Kong?

Review your debt consolidation loan options here and click on the 'Apply Now' button on the plan of your choice. This will take you to a personal loan application form which you will have to fill out. A bank representative will get in touch with you shortly to help you complete the application process and explain their services in detail. No need to waste time walking to the bank and waiting in line to apply for a personal loan if you apply online. Hong Kong lenders vary in the requirements that they will look for when you apply for debt financing. Typically, you would have to be a permanent resident of Hong Kong aged 18 or above to qualify for a loan. Providers may also require a proof of income from you so be ready with these documents if you plan to apply for a debt consolidation loan. Help yourself get out of debt and realize your financial management goals by getting a debt consolidation loan. Apply for a loan on MoneyHero.com.hk and take control of your debts today!

What are the differences between a debt consolidation loan and a general personal loan?

Many people own more than one credit card; when over-consumption is common and they only pay off the minimum payment due amount, the interest amount can cost much more than the original credit card debt. Since the interest rates of personal loans are lower than those of credit cards, applying for a personal loan is a popular way to pay off credit card debt. A debt consolidation plan transfers all your outstanding credit card and loan balances to one loan account, while you can have fixed monthly repayment and repayment period to save interest expenses and have a clear repayment goal for better financial planning.

What are the requirements for a debt consolidation loan application?

Generally, the application processes of a debt consolidation loan are simple; even though you don't have a bank account at a specific bank; if you are a Hong Kong permanent resident aged 18 or above and you could provide any income proof, you could get a debt consolidation loan. You should also check if other costs are involved in the loan, such as service charge and early repayment fee.

Who should apply for a debt consolidation loan?

Banks and financial institutions offer debt consolidation loans mainly for people who have multiple outstanding credit card debts, which allow them to pay lower rates of interest and repay credit card debts sooner.

How does debt consolidation works?

A debt consolidation loan means a bank or financial institution combines all your debts into one single loan, and you have to make one fixed monthly payment. The interest rate of a debt consolidation loan is generally much lower than that of the penalty interest rate for late repayment, which possibly cut your interest at half.

Which type of debt consolidation loan should I choose if my repayment capacity is low?

You should choose a debt consolidation loan based on your ability to repay. If your repayment capacity is low, you should choose a long-term loan to extend your repayment and reduce the burden.

What are the fees and charges for a debt consolidation loan?

There is no such thing as a free lunch; a debt consolidation loan usually charges a handling fee of every year. Furthermore, many loan plans claim to be 'interest-free', you should keep in mind that these are limited-time deals and you will be charged a higher rate of interest afterwards -- please be financially prepared to avoid penalties.

Will a debt consolidation loan affect my credit score?

your credit score reflects your financial health, including your loan portfolio and repayment record, so a debt consolidation loan may be reflected on your credit score. Paying off credit card debts fast and cancelling extra credit cards may improve your credit score.

Confused about personal loan terms?

Glossary terms to know for first-time personal loan applicants