The 100% Personal Loan Guarantee Scheme, introduced by HKMC Insurance Limited (HKMCI), is made to assist clients that are unemployed plus in need of financing over these circumstances that are challenging.
Preferential interest levels
An percentage that is annualised (APR) of 1% p.a.
Preferential rate of interest for 100% Personal Loan Guarantee Scheme
Month-to-month payment quantity for almost any HKD10,000 lent (predicated on that 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 amount for each HKD10,000 lent (predicated on that loan tenor of 72 months and APR of just one%)
The monthly repayment amount and the Annualised Percentage Rate (APR) are calculated based on 72-month repayment period and loan amount of every 10,000 as an illustration. The month-to-month payment quantity is curved as much as 1 decimal spot. The APR is determined method that is using in appropriate tips iued by The Hong Kong Aociation of Banking institutions, and it is curved up or down seriously to the nearest 2 decimal places. An APR is just a guide price, including all relevant interest levels, costs and costs of this item, expreed as an annualised price. Take note that the specific repayment that is monthly may vary. Clients can make reference to the mortgage verification page for real relevant information.
Features
Optimum loan quantity is 6 times the common month-to-month earnings for any a couple of months from January 2020 to February 2021, or 6 times the common monthly aeable earnings as calculated with regards to the income income tax demand note when it comes to economic 12 months 2019-2020, or HKD80,000, whichever is leaner
Enjoy a principal that is 12-month holiday
Be given a complete rebate on the paid interest once the mortgage happens to be settled in complete
How exactly to use
Application hotline
Papers needed
Eligibility
To try to get that loan underneath the 100% Personal Loan Guarantee Scheme, you have to:
- be A hsbc that is existing client
- be considered a Hong Kong resident
- be at the least 18 yrs old
- have now been used in Hong Kong for at the least a few 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’s got subsisting credit facilities guaranteed in full beneath the SME Financing Guarantee Scheme (SFGS)
- A duplicate of your HKID showing residency status that https://installmentloansgroup.com/installment-loans-ca/ is permanent
- Evidence of your latest addre that is residential
- Proofs of jobless status
- A duplicate of your HKID showing permanent residency status
- Evidence of your latest domestic addre
- Proofs of unemployment status
- Proofs of the past employment/occupation and primary income that is recurring
- Evidence of your latest addre that is residential your name (valid within three months through the time of the job), eg bills, federal federal government lease or prices need note, a duplicate associated with tenancy contract or leasing receipt, any communication iued by any government division (eg a tax demand note iued by the Inland sales Department) or any general general public systems to you personally
- If you should be just in a position to provide evidence of your latest domestic addre when you look at the name regarding the other person (eg a member of family) residing to you, please supply a statement in your application for the loan describing the specific situation and a duplicate of the bank declaration iued for your requirements such domestic addre
Item information
Papers needed
Car payroll customers
Non-auto payroll clients
1. HKID card
A duplicate of one’s HKID card showing that you’ve got permanent residency status.
2. Evidence of your latest addre that is residential
