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PrimeCredit Property Owner's Personal Loan

PrimeCredit Property Owner's Personal Loan

Latest Offer
PrimeCredit Property Owner's Personal Loan
Total Repayment (as low as)
Monthly Repayment (as low as)
APR (as low as)Monthly Flat Rate: 0.1%
Latest Offer:
Up to HK$8,000 cash bonus will be rewarded upon successful application
Express approval within 1 hour; Repayment terms up to 84 months
Express approval within 1 hour; Repayment terms up to 84 months
MoneyHero 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.
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What is the difference between mortgage and home ownership loan?

A mortgage is a secured loan in which you agree to give the property as security while a home ownership loan is an unsecured loan in which you don't have to use your home as collateral for the loan. In Hong Kong, many banks and lending companies provide personal loans for property owners such as Bank of China's BOC Express Cash Property Owner Loan, BEA's Property Owner Instalment Loan and Prime Credit's Property Owner Personal Loan.

Do I qualify for a Home Ownership Loan?

In general, if you are a tenant of public rental housing or own a Home Ownership Scheme flat or a private domestic property, you can apply for a Home Ownership Loan.

What should you pay attention to during application?

You should check if the lending institution will charge additional fees such as handling fee, appraisal fee, attorney's fees and early repayment fees. Some banks and lending companies offer cash rebate to new customers or applicants who successfully apply online.

What is the interest rate for a Home Ownership Loan?

The interest rate for a home ownership loan is normally 4% - 18%, 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.

Does it take a long time to approve a home ownership loan?

The approval time of a home ownership loan depends on a specific bank or financial institution's usual practices. As a home ownership loan is not limited by monthly salary or income proof like a personal loan, sometimes a home ownership loan can be approved within one hour.

Confused about personal loan terms?

Glossary terms to know for first-time personal loan applicants

Disclaimer: MoneyHero makes every effort to keep information on our website accurate and up-to-date. This information may be different from what you see when you visit a financial institution or service provider’s site. APR and monthly payments shown in personal instalment loan comparison pages are estimated based on calculation of information you enter. All financial products and services are presented without warranty. When evaluating offers, please review the financial institution’s Terms and Conditions. If you find discrepancies in information, please contact the financial institution directly.

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