Personal Loan

You can fully utilize the benefits of personal loan in many ways, such as it can be used for business purposes, personal purchases or investment. You can search for the right personal loan here, regardless of what are your motives for getting a personal loan. Once you have got the right choice, click on the "Apply Now" button to begin the application process.

Product: Personal Loan Monthly Interest Rate Annual Interest Rate Maximum Loan Amount in X-monthly Salaries Maximum terms of repayment in months Administration Fee Apply Now
DBS
Personal Loan
0.05 % 3.92 % 8.00 1.50 %
Apply Now
DBS
Personal Loan
0.13 % 2.91 % 8.00 60.00
HK$0.5/Day
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DBS
Personal Loan
0.26 % 5.80 % 12.00 36.00
Apply Now
AEON
Personal Loan
0.90 % 19.94 % 36.00
Free
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Wing Lung Bank
Personal Loan
0.30 % 6.33 % 3.00 18.00
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Winton Financial
Personal Loan
0.50 % 60.00
Free
Apply Now
ICBC Asia
Personal Loan
0.19 % 4.26 % 8.00 60.00
Free
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ICBC Asia
Installment Plan
0.14 % 3.13 % 10.00 60.00
Apply Now
ICBC Asia
Personal Loan
0.14 % 3.13 % 12.00
Apply Now
Bank of East Asia
Installment Plan
0.55 % 36.00
Preferential Fee
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Wing Hang Bank
Personal Loan
0.28 % 6.28 %
Free
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Wing Hang Bank
Personal Loan
0.27 % 6.89 % 48.00 1.00 %
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Wing Hang Bank
Personal Loan
5.76 % 60.00 1.00 %
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Wing Hang Bank
Personal Loan
0.03 % 2.46 % 72.00
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Nanyang Commercial Bank
Installment Plan
0.30 % 8.81 % 12.00 48.00 2.00 %
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CITIC International
Installment Plan
0.04 % 2.88 % 10.00 72.00 1.00 %
Apply Now
Chong Hing Bank
Personal Loan
0.17 % 6.67 % 4.00 24.00
Free
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Chong Hing Bank
Personal Loan
0.22 % 4.62 % 5.00 48.00
Free
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Chong Hing Bank
Personal Loan
0.18 % 3.76 % 5.00 48.00
Free
Apply Now
Dah Sing Bank
Installment Plan
0.80 % 7.10 % 6.00 3.00 %
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Dah Sing Bank
Personal Loan
0.16 % 6.12 % 21.00 84.00
Apply Now
Bank of China
Personal Loan
0.38 % 10.70 % 36.00 1.00 %
Included in the annual interest rate
Apply Now
Bank of China
Personal Loan
0.06 % 2.39 % 18.00 96.00 0.75 %
Included in the annual interest rate
Apply Now
Hang Seng Bank
Personal Loan
0.25 % 7.63 % 24.00 1.00 %
Apply Now
Hang Seng Bank
Installment Plan
0.45 % 12.71 % 21.00 64.00 1.00 %
Included in the annual interest rate
Apply Now
Hang Seng Bank
Installment Plan
5.25 % 36.00 0.25 %
Apply Now
Hang Seng Bank
Installment Plan
0.16 % 3.81 % 8.00 60.00
Free
Apply Now
Fubon Bank
Personal Loan
0.18 % 6.00 % 14.00 72.00 1.00 %
Apply Now
Fubon Bank
Personal Loan
0.22 % 4.95 % 12.00 60.00
Free
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Fubon Bank
Installment Plan
10.71 % 36.00 0.50 %
Apply Now
China Construction Bank
Installment Plan
0.14 % 2.23 % 12.00 84.00
Free
Apply Now
Bank of Communications
Installment Plan
0.25 % 7.63 % 6.00 48.00 2.00 %
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Bank of Communications
Personal Loan
0.04 % 2.83 % 10.00 60.00
Free
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Bank of Communications
Personal Loan
3.76 % 36.00 0.18 %
Monthly
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Public Bank Hong Kong
Personal Loan
0.16 % 5.54 % 1.00 %
Apply Now
Public Bank Hong Kong
Personal Loan
0.16 % 3.58 % 12.00 36.00
Apply Now
Public Bank Hong Kong
Personal Loan
5.81 % 36.00 0.25 %
Apply Now
Public Bank Hong Kong
Personal Loan
0.19 % 6.01 % 1.00 %
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Public Bank Hong Kong
Personal Loan
10.17 % 24.00
HK$500/Year
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ANZ Bank
Personal Loan
0.09 % 3.91 % 12.00 72.00 1.00 %
Included in the annual interest rate
Apply Now
Standard Chartered
Personal Loan
6.01 % 48.00 0.25 %
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Standard Chartered
Personal Loan
0.12 % 4.00 1.00 %
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Standard Chartered
Installment Plan
0.03 % 3.89 % 10.00 60.00 1.50 %
Included in the annual interest rate
Apply Now
Citibank
Cash Loan
5.38 % 3.00
Free for the first year
Apply Now
Citibank
Cash Loan
0.13 % 2.91 % 48.00
Apply Now
Citibank
Personal Loan
0.14 % 3.28 % 21.00 60.00 1.00 %
Apply Now
Bank of China
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29.00 % 39.00 % 57.67 34.66 22.00 %
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Personal Loans in Hong Kong

People normally set aside a sum of money to finance any need that may come their way. Unfortunately, savings may not be enough for unexpected expenses like medical bills or take too long to accumulate to answer a pressing need such as owning a car. Personal loans offer a quick way to bridge this gap.

In Hong Kong, around one third of the residents owe debt other than housing mortgage loans with an annualized 40% surge in bank lending on June of this year. For those interested, information is the key to getting a product suitable to your needs.

Secured vs Unsecured Loans

Personal loans can be classified as either secured or unsecured. Secured loans have lower interest rates but require security, like your house, in exchange for the money you borrow. Defaulting on your payments could risk losing your collateral. As such, many people opt for unsecured loans with higher interest rates instead. Unsecured loans are issued by financial institutions based on your income, credit rating, and other specified criteria.

Types of Unsecured Loans

Unsecured loans are classified as a personal line of credit or personal cash instalment loan. Personal line of credit allows people to draw as much credit available and pay interest only on the used amount. This is an option that can be included on a card or a current account.

A personal instalment loan, on the other hand, lends a fixed amount which needs to be paid in fixed monthly instalments within a chosen tenure. The rate and the maximum amount will depend on your income, credit score, and chosen tenure. Different institutions impose different loan caps, repayment periods, and internal requirements so being rejected from one doesn’t necessarily mean a rejection from all.

Application Process

Financial institutions have made the application process relatively easy by providing online application alternatives. You need to fill up the form and submit it together with a copy of your identity card, income documents, and proof of residence such as a utility bill. The application will be assessed and money will be disbursed upon approval.

Savings Tips

Talk to your chosen lender who can help assess your requirements. The person can explain the different repayment options and calculate the interest payments for different tenures. In addition, since approval and interest rates depend on your credit rating, make a habit of checking your credit score to ensure that everything is in order. Remember to compare different offers in the market for the best deals before applying. Simultaneous applications to different institutions will increase inquiry amount in your credit report which could prompt institutions to offer you a higher interest rate. If you have no credit history or have a less than ideal credit rating, try applying to non-bank lenders that have less stringent requirements. Finally, make sure to read the fine print for hidden fees. An application charge is often imposed on the disbursed loan amount as well as early repayment charges if you decide to pay off your loan before the maturity. Late penalties will also be incurred for overdue payments. As always, borrow only what you need and what you can afford to repay. Happy hunting!