Only applicable to the customers who submit the Loan applications and have the Loan applications approved on or before 31 December 2009 and successfully draw down the entire Loan amount of HK$100,000 or above and with a repayment period of 12 months on or before 30 April 2010. The applicable months of interest rebate varies according to the approved loan amount and repayment period. Please refer to the monthly repayments table for details.
2.
Applications have to be submitted during the Bank's service hours (Mon-Fri 9am - 8pm, Sat 9am - 1pm, except public holidays, or individual branch's opening hours) with all required information (including without limitation a valid HSBC banking account number) and documents. Actual turnaround time starts when all the required information is successfully input into the Bank's application evaluation system. Processing time may vary in some cases depending on the actual circumstances of individual applications.
3.
No income proof is required for regular income earners if they have maintained an autopayroll account with HSBC for the past month. For irregular income earners (including customers working on a part-time, commission or profit-sharing basis), no income proof is required if they have maintained an autopayroll account in HSBC for at least three months.
4.
Hotline business hours: Monday to Friday 9am to 8pm; Saturday 9am to 5pm.
5.
Visit our website www.hsbc.com.hk/loan and logon to HSBC Personal Internet Banking to apply online. If you are not a current HSBC Personal Internet Banking user, you can register instantly to access to Internet Banking services.
6.
According to the Oracle 2008 personal loans research report.
Remarks of the monthly repayments table:
(i)
The above interest rate table applies to customers (the "Customers") who apply for a personal tax loan (the "Loan") during the promotional period which commences on 3 November 2009 and expires on 28 January 2010, both dates inclusive (the "Promotional Period"), with the Loan successfully approved and have a minimum Loan amount of HK$5,000. The handling charge is to be deducted from the approved Loan amount.
(ii)
The interest rebate for early application (the "Early Application Interest Rebate") is only applicable to Customers who submit their Loan applications and have the Loan applications approved on or before 31 December 2009 and successfully draw down the entire Loan amount of HK$20,000 or above and with a repayment period of 12 months on or before 30 April 2010. The applicable months of interest rebate varies according to the approved loan amount and repayment period. Please refer to the rate table above for details.
(iii)
A handling charge equivalent to 1.5% per annum for the repayment period on the approved Loan amount will be calculated on a pro rata basis, rounded up to one decimal place and deducted from the approved Loan amount as a one-off payment when the Loan is drawn down. The deduction will be made from the approved Loan amount when the loan is drawn down unless the handling charge is to be advanced as a further loan in which case the deduction will be made from the total Loan amount.
(iv)
The interest rate that will apply (the "Interest Rate") and the amount of interest that will be charged (the "Interest Amount") will be calculated based on the approved Loan amount and the repayment period. If the handling charge is advanced as a further loan, the Interest Rate will be based on the approved Loan amount while the Interest Amount will be based on the total Loan amount.
(v)
The monthly repayment amount and the Annualised Percentage Rate (APR) is calculated based on 6, 9 and 12-month repayment period. The monthly repayment amount is rounded up to one decimal place. The APR is calculated according to the method set out in the relevant guidelines referred to in the Code of banking Practice, and is rounded up or down to the nearest two decimal places. The APR calculation includes the Early Application Interest Rebate (where applicable) and the handling charge. Please visit any HSBC branch in Hong Kong for further details of the repayment table and cases where the handling charge will be advanced as a further loan and added to the approved Loan amount. Please note that the actual APR and monthly repayment amount applicable may differ, Customers can refer to the Loan confirmation letter for the actual related information.
(vi)
Please refer to the Promotional Terms and Conditions for further details.
1.
The promotional period commences on 3 November 2009 and expires on 28 January 2010, both dates inclusive (the "Promotional Period").
2.
A customer ("Customer") who submits the Loan application and have the Loan application approved on or before 31 December 2009, and successfully draw down the entire Loan amount on or before 30 April 2010, subject to Clauses 3, 4, 5 and 6 below, will be eligible for interest rebate (the "Early Application Interest Rebate") (if applicable). The applicable months of interest rebate varies according to the approved Loan amount and repayment period. Please refer to the monthly repayments table for details.
3.
Interest will be charged on the Loan on a monthly basis and the amount of the Early Application Interest Rebate (if applicable) will be reimbursed to eligible Customers as a one-off payment and is calculated as follows:
Approved Loan amount at the time of account opening X interest rate (monthly flat rate) X number of months of Early Application Interest Rebate (Please refer to the monthly repayments table for number of months of interest rebate details)
4.
The Early Application Interest Rebate amount (if applicable), will automatically and without further notice, be credited to each eligible Customer's Loan repayment account by 30 June 2010 (the "Credit Date").
5.
Customers who close their new Loan accounts on or before the Credit Date will not be eligible for any Early Application Interest Rebate (if applicable).
6.
Customers who repay the entire Loan prior to the final Loan repayment date shall immediately repay to the Bank:
-
the full amount of the Early Application Interest Rebate (if applicable); and
-
the charges to be paid to the Bank in case of early repayment of the Loan as specified in Clause 5 of the Bank's Personal Tax
Loan Terms and Conditions which includes:
i. the outstanding principal amount of the Loan; and
ii. a sum equal to 2% of the initial approved Loan amount as stated in the Confirmation Letter.
The Bank reserves the right to debit such amounts from the Customer's Loan repayment account or other accounts with the Bank (if applicable).
7.
A handling charge equivalent to 1.5% per annum for the repayment period on the approved Loan amount will be calculated on a pro rata basis, rounded up to one decimal place and deducted from the approved Loan amount as a one-off payment when the Loan is drawn down. The deduction will be made from the approved Loan amount when the Loan is drawn down unless the handling charge is to be advanced as a further loan in which case the deduction will be made from the total Loan amount.
8.
The Bank reserves the right to amend these Promotional Terms and Conditions at any time with appropriate notice.
9.
Employees of the Bank and other members of the HSBC Group are not eligible for this promotion.
10.
In case of any dispute, the decision of the Bank shall be final.
11.
In case of discrepancy between the English and Chinese version of these Terms and Conditions, the English version shall prevail.
12.
These Terms and Conditions are governed by and will be construed in accordance with the laws of the Hong Kong Special Administrative Region.
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