A federal federal government loan that is designed to assist you to relieve monetary anxiety during these a down economy.

A federal federal government loan that is designed to assist you to relieve monetary anxiety during these a down economy.

The 100% Personal Loan Guarantee Scheme, introduced by HKMC Insurance Limited (HKMCI), is made to assist customers that are unemployed plus in need of financing over these challenging circumstances.

Preferential interest levels

An percentage that is annualised (APR) of just one% p.a.

Preferential interest for 100% Personal Loan Guarantee Scheme

Month-to-month payment quantity for every single HKD10,000 lent (according to a loan tenor of 72 months and APR of just one%)

For the first one year: HKD4.9

Through the month that is 13th: HKD171.6

Preferential rate of interest for 100% Personal Loan Guarantee Scheme

Month-to-month payment quantity for every single HKD10,000 lent (according to that loan tenor of 72 months and APR of just one%)

being an example, the monthly payment quantity while the Annualised Percentage price (APR) are determined according to 72-month payment duration and loan level of every 10,000. The month-to-month payment quantity is curved as much as 1 place that is decimal. The APR is determined method that is using in appropriate instructions iued because of The Hong Kong Aociation of Banks, and it is curved up or down seriously to the nearest 2 decimal places. An APR is a guide price, which include all relevant rates of interest, charges and costs of this item, expreed as a rate that is annualised. Take note that the particular repayment that is monthly may vary. Clients can relate to the mortgage verification letter for real information that is related.

Features

Optimum loan quantity is 6 times the common income that is monthly any a few months from January 2020 to February 2021, or 6 times the typical monthly aeable earnings as determined with regards to the income income tax demand note when it comes to monetary year 2019-2020, or HKD80,000, whichever is leaner

Like a 12-month principal repayment holiday

Receive a complete rebate on the paid interest once the mortgage was settled in complete

Just how to online installment KS use

Application hotline

Documents needed

Eligibility

To utilize for that loan beneath the 100% Personal Loan Guarantee Scheme, you need to:

  • be a existing hsbc client
  • be considered a Hong Kong resident
  • be at the very least 18 years of age
  • have already been used in Hong Kong for at the very least a couple of months between 2020 and February 2021 january
  • Have been unemployed for at least 2 months at the right period of the application submiion
  • never be undischarged bankrupts nor at the mercy of any bankruptcy petition or procedures during the time of application for the loan
  • never be a busine owner who may have credit that is subsisting fully guaranteed beneath the SME Financing Guarantee Scheme (SFGS)
  • Item information

    Papers needed

    Automobile payroll clients

    1. A duplicate of your HKID showing residency status that is permanent
    2. Evidence of your latest addre that is residential
    3. Proofs of jobless status
    4. Non-auto payroll clients

      1. A duplicate of your HKID showing residency status that is permanent
      2. Evidence of your latest addre that is residential
      3. Proofs of jobless status
      4. Proofs of one’s past employment/occupation and primary recurring earnings
      5. 1. HKID card

        A duplicate of one’s HKID card showing that you have got permanent residency status.

        2. Evidence of your latest domestic addre

        • Evidence of your latest domestic addre in your name (valid within three months through the time of the job), eg utility bills, federal government lease or prices need note, a duplicate associated with tenancy contract or leasing receipt, any communication iued by any federal government division (eg an income tax demand note iued by the Inland sales Department) or any general general public figures for your requirements
        • If you should be just in a position to provide evidence of your latest domestic addre when you look at the title associated with the other person (eg a member of family) living with you, please supply a statement in your application for the loan explaining the problem and a duplicate of the bank declaration iued for your requirements this kind of domestic addre