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Frequently asked questions (FAQs)

Why take out a loan?

There are many possible reasons to take out a loan, from covering unexpected short-term expenses to spreading the cost of a large purchase over time. For example, you could use a loan for:

  • buying a car
  • paying your tax bill
  • covering temporary costs while moving home
  • going on holiday
  • getting married
  • covering emergency costs
  • buying expensive household items such as appliances

If you decide to take out a loan, it's important to choose the right kind for your needs and to make sure you can afford the repayments.

 

Apart from fixed monthly loan repayments, are there other repayment methods?

Most loans ask you to repay a set amount each month, which makes it easy to plan your budget and predict your spending. But if fixed monthly payments don't suit your circumstances, you may choose a loan with flexible repayment options, such as a revolving loan or an overdraft facility.

 

How much should I borrow?

There are two main things to consider: how much you need to borrow, and how much you can afford to repay.

It is best to borrow only what you actually need and to resist the temptation to add extra borrowing. Remember that your loan does not have to be for a round figure, so you can usually borrow exactly the amount of any large purchase.

When working out your repayments, look at all your other spending. It is unwise to spend more than 30% of your gross monthly income on all your loan repayments put together - with the possible exception of mortgage repayments, which may be up to 50% of your income.

Make sure that you can afford the extra cost of loan repayments without leaving you unable to meet other financial commitments.

 

How long should I borrow for?

A good general rule is not to borrow for longer than the life of the thing you are paying for. For example, if you have an annual expense such as a tax bill then a loan of 12 months or less would be the best choice - otherwise you will still be paying off your first loan when the next year's tax demand arrives.

With careful budgeting, you can balance the amount you borrow with the period of the loan and the amount you can afford to repay each month.

 

What is the difference between a Personal Instalment Loan and a Revolving Credit Facility?

A Personal Instalment Loan allows you to repay the whole loan amount in a regular monthly amount within a fixed repayment period, enabling you to better manage their finances.

A Revolving Credit Facility provides you with a standby revolving credit limit. You can withdraw the loan from the standby credit limit anytime you wish; there is no fixed monthly repayment amount or repayment period.  Interest will only be charged on the withdrawal amount.

 

What documents do I need when I apply for a loan?

Generally the bank needs the following to process a loan application:

  • Hong Kong Identity Card (HKID) (Not required for existing HSBC customers) ; OR working visa / employment contract / employment letter with details on employment period (for applicants who are not holders of HK Permanent ID Card).
  • Either one of the following proof of income documents:
  1. Bank account statements/passbook explicitly showing the credit of monthly salary in the past one month (or three months for irregular income earners1); OR
  2. Bank account statements/passbook showing monthly deposits for the past one month (three months for irregular income earners1) plus recent salary payroll advice dated within three months of application or valid employment letter confirming job title / income details dated within three months of application or valid Tax Demand Note issued by Inland Revenue Department for the last tax year.

 

HSBC payroll customers with at least one month payroll record (three months for irregular income earners1) immediately prior to the loan application are not required to submit income proof. The Bank, however, reserves the right to request for the same at any time.

 

1Irregular income earners include customers working on a part-time, commission or profit-sharing basis.

 

What if I can't keep up the repayments?

If you find you are unable to keep up the repayments on your loan - for example, if you lose your job or have unexpected new financial commitments - the first step should always be to talk to your bank. There may be a way to make your monthly repayments more manageable, for example, by extending the term of your loan.

 

What is a monthly flat rate?

A monthly flat rate is one of the methods used to calculate the monthly repayment amount for a loan. Most banks and financial institutions adopt this method to provide a fixed monthly repayment.

 

What is an annualised percentage rate (APR)?

The annualised percentage rate is an index of borrowing cost and is calculated on the basis of 365 days or 366 days a year, including interest and all related fees/charges, in accordance with the relevant guidelines of the Code of Banking Practice. APR is used as a way for customers to compare interest rates

 

Why do different loans have different interest rates?

The main reason is that different loans carry different amounts of risk for the lender. For example, a loan granted without any security carries a higher risk of the lender losing its money if you are unable to meet the repayments and so will usually carry a higher rate of interest than a secured loan. 

Another factor is the amount you borrow. A lender's administrative costs are lower for a single large loan than for several small loans to different borrowers, so a large loan may have a lower interest rate than a small one. Remember to check the amount that you'll pay over the course of the whole loan.

 

What other costs are involved in borrowing money?

The cost of a loan is calculated by means of an annualised percentage rate (APR), which takes into account the interest rate plus any extra fees or charges to be paid.

Common extra costs include:

  • Annual Fee/Service Fee

Some loans have a fee (usually annual) for maintaining the loan account.

  • Handling Fee

The bank may charge a fee for processing the loan application, which is usually a one-time payment at the beginning of the repayment period.

  • Early Redemption Penalty

In some cases, if you wish to fully repay a fixed loan earlier than the agreed term, you will have to pay an extra fee to compensate for the interest lost by the bank. 

  • Late Repayment Charge

If you fall behind on your loan repayments, you will be charged interest on the overdue amount on a daily basis, either at a fixed rate or at the prevailing rate, and/or a fee. Therefore, you are encouraged to budget accurately and keep up the repayments.

  • Unauthorised Overdraft Handling Charge

If you exceed your overdraft limit originally assigned to the account, you will have to pay an extra fee to the bank.

 

How should I choose a lender?

The APR should not be your only consideration when choosing a bank for your loan. Other things to consider include:

  • the reputation of the bank
  • convenience - are you able to manage your loan in a branch, online, or on the phone? What are the bank's opening hours?
  • other services available to customers

 

What is the difference between applying online and in a branch?

You can apply online for the following HSBC loans:

 

Overdrafts must be applied for in a branch. For loans where you can apply online, online applications will be processed in the same way as those received at a branch.

 

Can I check my loan account balance online?

You can check your balance online for these loans:

 

How would the Terms and Conditions of "Set-off" affect me?

The Terms and Conditions of set off gives us the right to, without notice, combine or consolidate any outstanding principal or interest on the Loan, as well as any other amounts payable by the Borrower hereunder or in connection with the Loan, with any other accounts which the Borrower maintains with the Bank and set-off or transfer any money standing to the credit of the Borrower’s other accounts in or towards satisfaction of the Borrower’s liability to the Bank in respect of the Loan and such other amounts.

 

I want to redraw from my Personal Instalment Loan account but received an error message: "Please retry or enable JavaScript on your browser. Please refer to the FAQ section for details."

You can retry later or you can redraw from your Personal Instalment Loan account in several ways:

By phone on (852) 2748 80802

At any HSBC branch in Hong Kong

By completing the online application form

 

2Lines are open Mon–Fri 9am-–8pm

Sat 9am–5pm.

 

What should I do when receiving SMS / email notification asking me to submit documents for loan application?

Kindly note that we need some supporting document(s) relating to your personal loan application to facilitate the evaluation and approval of your loan application and we would send you SMS / email notification listing the documents you require to submit for your quick reference. Please submit the copies of requested documents via HSBC website, HSBC Branch or fax to 22693051 within 7 working days. For enquiries regarding your loan application, you may contact us at 22882191.

 

Why do I receive SMS / email asking me to call back for my loan application?

In order to facilitate the evaluation and approval of your loan application, we may need to further clarify some details with you and we would send you SMS / email notification to ask for your call back to our loan application designated hotline 22882191. Please contact us at your convenience within 3 working days upon receiving the notification to expedite your application approval.

Interest calculation method

The proportion of interest and principal in each monthly repayment is calculated according to the Straight-line method (applicable to any loan drawn down or redrawn on or after 2 August 2019) or Rule of 78 (applicable to any loan drawn down or redrawn before 2 August 2019). These are the methods to breakdown the principal and interest in the monthly repayment of Personal Instalment Loan:

  • Straight-line method

In this method, the interest is calculated based on the outstanding principal and allocated to the repayment period. The amount of monthly repayment apportioned to interest is the highest at the beginning and gradually decreases across the repayment periods. 

Illustration of showing the proportion of interest and principal in each monthly repayment using straight-line method:

A customer borrows HK$120,000 for 12 months, at a monthly flat rate of 0.14% and handling fee is waived. As such, the total loan principal is HK$120,000

Monthly interest = HK$120,000 x 0.14% = HK$168

Total interest for the full term = HK$168 x 12 months = HK$2,016

Monthly repayment = HK$(120,000 + 2,016) ÷ 12 = HK$10,168

Details of the interest and principal allocation in each monthly repayment:

No. of repayments
Interest in each instalment
Principal repaid in each instalment
Outstanding Principal
1 HK$308.69
HK$9,859.31
HK$110,140.69
2 HK$283.33
HK$9,884.67
HK$100,256.02
3 HK$257.90
HK$9,910.10
HK$90,345.92
4 HK$232.41
HK$9,935.59
HK$80,410.33
5 HK$206.85
HK$9,961.15
HK$70,449.18
6 HK$181.23
HK$9,986.77
HK$60,462.41
7 HK$155.53
HK$10,012.47
HK$50,449.94
8 HK$129.78
HK$10,038.22
HK$40,411.72
9 HK$103.95
HK$10,064.05
HK$30,347.67
10 HK$78.06
HK$10,089.94
HK$20,257.73
11 HK$52.11
HK$10,115.89
HK$10,141.84
12 HK$26.16
HK$10,141.84
HK$0.00

Details of the interest and principal allocation in each monthly repayment:

No. of repayments
1
Interest in each instalment
HK$308.69
Principal repaid in each instalment
HK$9,859.31
Outstanding Principal
HK$110,140.69
No. of repayments
2
Interest in each instalment
HK$283.33
Principal repaid in each instalment
HK$9,884.67
Outstanding Principal
HK$100,256.02
No. of repayments
3
Interest in each instalment
HK$257.90
Principal repaid in each instalment
HK$9,910.10
Outstanding Principal
HK$90,345.92
No. of repayments
4
Interest in each instalment
HK$232.41
Principal repaid in each instalment
HK$9,935.59
Outstanding Principal
HK$80,410.33
No. of repayments
5
Interest in each instalment
HK$206.85
Principal repaid in each instalment
HK$9,961.15
Outstanding Principal
HK$70,449.18
No. of repayments
6
Interest in each instalment
HK$181.23
Principal repaid in each instalment
HK$9,986.77
Outstanding Principal
HK$60,462.41
No. of repayments
7
Interest in each instalment
HK$155.53
Principal repaid in each instalment
HK$10,012.47
Outstanding Principal
HK$50,449.94
No. of repayments
8
Interest in each instalment
HK$129.78
Principal repaid in each instalment
HK$10,038.22
Outstanding Principal
HK$40,411.72
No. of repayments
9
Interest in each instalment
HK$103.95
Principal repaid in each instalment
HK$10,064.05
Outstanding Principal
HK$30,347.67
No. of repayments
10
Interest in each instalment
HK$78.06
Principal repaid in each instalment
HK$10,089.94
Outstanding Principal
HK$20,257.73
No. of repayments
11
Interest in each instalment
HK$52.11
Principal repaid in each instalment
HK$10,115.89
Outstanding Principal
HK$10,141.84
No. of repayments
12
Interest in each instalment
HK$26.16
Principal repaid in each instalment
HK$10,141.84
Outstanding Principal
HK$0.00
  • Rule of 78

This method puts a decreasing weight on interest and an increasing weight on principal across the repayment periods. The number 78 comes from adding up the number of months of a 12-month-loan:

1 + 2 + 3 + 4 + 5 + 6 + 7 + 8 + 9 + 10 + 11 + 12 = 78

The interest is allocated to the repayment period in a reverse portion, such that 12/78 (first interest portion) of the total interest will be applied to the first month, 11/78 (second interest portion) of the total interest will be applied to the second month, etc. 

Illustration of showing the proportion of interest and principal in each monthly repayment using rule of 78:

A customer borrows HK$120,000 for 12 months, at a monthly flat rate of 0.14% and handling fee is waived. As such, the total loan principal is HK$120,000

Monthly interest = HK$120,000 x 0.14% = HK$168

Total interest for the full term = HK$168 x 12 months = HK$2,016

Monthly repayment = HK$(120,000 + 2,016) ÷ 12 = HK$10,168 

Details of the interest and principal allocation in each monthly repayment:

No. of repayments
Interest in each instalment
Principal repaid in each instalment
Outstanding Principal
1 HK$310.15
HK$9,857.85
HK$110,142.15
2 HK$284.31
HK$9,883.69
HK$100,258.46
3 HK$258.46
HK$9,909.54
HK$90,348.92
4 HK$232.62
HK$9,935.38
HK$80,413.54
5 HK$206.77
HK$9,961.23
HK$70,452.31
6 HK$180.92 HK$9,987.08
HK$60,465.23
7 HK$155.08
HK$10,012.92
HK$50,452.31
8 HK$129.23
HK$10,038.77
HK$40,413.54
9 HK$103.38
HK$10,064.62
HK$30,348.92
10 HK$77.54
HK$10,090.46
HK$20,258.46
11 HK$51.69
HK$10,116.31
HK$10,142.15
12 HK$25.85
HK$10,142.15
HK$0.00

Details of the interest and principal allocation in each monthly repayment:

No. of repayments
1
Interest in each instalment
HK$310.15
Principal repaid in each instalment
HK$9,857.85
Outstanding Principal
HK$110,142.15
No. of repayments
2
Interest in each instalment
HK$284.31
Principal repaid in each instalment
HK$9,883.69
Outstanding Principal
HK$100,258.46
No. of repayments
3
Interest in each instalment
HK$258.46
Principal repaid in each instalment
HK$9,909.54
Outstanding Principal
HK$90,348.92
No. of repayments
4
Interest in each instalment
HK$232.62
Principal repaid in each instalment
HK$9,935.38
Outstanding Principal
HK$80,413.54
No. of repayments
5
Interest in each instalment
HK$206.77
Principal repaid in each instalment
HK$9,961.23
Outstanding Principal
HK$70,452.31
No. of repayments
6
Interest in each instalment
HK$180.92
Principal repaid in each instalment
HK$9,987.08
Outstanding Principal
HK$60,465.23
No. of repayments
7
Interest in each instalment
HK$155.08
Principal repaid in each instalment
HK$10,012.92
Outstanding Principal
HK$50,452.31
No. of repayments
8
Interest in each instalment
HK$129.23
Principal repaid in each instalment
HK$10,038.77
Outstanding Principal
HK$40,413.54
No. of repayments
9
Interest in each instalment
HK$103.38
Principal repaid in each instalment
HK$10,064.62
Outstanding Principal
HK$30,348.92
No. of repayments
10
Interest in each instalment
HK$77.54
Principal repaid in each instalment
HK$10,090.46
Outstanding Principal
HK$20,258.46
No. of repayments
11
Interest in each instalment
HK$51.69
Principal repaid in each instalment
HK$10,116.31
Outstanding Principal
HK$10,142.15
No. of repayments
12
Interest in each instalment
HK$25.85
Principal repaid in each instalment
HK$10,142.15
Outstanding Principal
HK$0.00

The above examples show that a larger proportion of the repayment made in the early stages is allocated to settle the interest expense, with a smaller proportion to repay the principal. Such allocation of the repayment will reverse after more instalments have been made while the total interest expenses will remain unchanged.

The examples are for illustration purpose only. All the figures are rounded up to 2 decimal places.

Do I save interest expenses by making early repayment of personal instalment loan?

Generally speaking, the earlier you make loan repayment, the more outstanding interest payments are likely to be saved. Nevertheless, you should consider the early repayment charges involved before deciding whether to pay off your loans early or not. HSBC uses the Straight-line method or Rule of 78 to calculate the proportion of interest and principal in each monthly repayment. Even though the monthly repayment amount is the same throughout the loan tenor, more interest will, in general, be included in earlier repayments, and less on principal. In other words, where you have been making repayments as scheduled for some time, the amount of outstanding interest is likely to be small. If you choose to pay off the loan early at this point of time, the loss may outweigh the gain as the amount of interest saved may not be enough to cover the relevant charges for early repayment. You may contact us to check about the total amount involved in early repayment (including outstanding loan balance, early repayment charges and other fees, etc.) and the amount of outstanding interest. You should then compare different scenarios and consider carefully before making a decision of repaying early or not.

Why was I charged deferred interest?

If the first repayment date specified by you is more than one month from the date of drawdown, daily deferred interest on the approval loan amount will be charged.

How can I know the drawdown date if I submit an online application?

After approval, we will provide a confirmation letter to advise that the respective loan amount has been credited to the designated repayment account. You can also check the transaction history of the repayment account via Personal Internet Banking. For enquiry, please contact our customer service hotline.

Can I change the repayment date after receiving the confirmation letter so as to avoid the deferred interest?

You can submit the request by completing Early Repayment/Change of Account Information Application Form for Personal Instalment Loan (PIL)/Personal Tax Loan (PTL)/Revolving Credit Facility (RCF).

100% Personal Loan Guarantee Scheme Related FAQs

1. What is the 100% Personal Loan Guarantee Scheme?

The 100% Personal Loan Guarantee Scheme is an initiative by the Hong Kong government to provide financial assistance to Hong Kong residents in the face of the COVID-19 pandemic. For more information about this scheme, visit our website and the 100% Personal Loan Guarantee Scheme website of Hong Kong Mortgage Corporation Limited (HKMC).

 

2. How do I apply for the 100% Personal Loan Guarantee Scheme?

You can apply for the loan under the 100% Personal Loan Guarantee Scheme with us on our website or by calling the application hotline at (852) 2996 7288.

 

3. Where can I find the application form for the 100% Personal Loan Guarantee Scheme on the HSBC website?

You can find the online form by selecting the '100% Personal Loan Guarantee Scheme' option under 'Loan' from the 'Borrowing' menu. Alternatively, you can also access the online form directly.

 

4. I don't have an HSBC bank account. Am I able to apply for a loan under the 100% Personal Loan Guarantee Scheme at HSBC?

We offer our services under the 100% Personal Loan Guarantee Scheme to existing HSBC customers. If you want to apply for a loan under the 100% Personal Loan Guarantee Scheme at HSBC, you can use the HSBC Mobile Banking App to open a bank account.

 

5. Can I provide my passport details instead of my HKID number?

You must provide your HKID number to prove that you are a Hong Kong permanent resident.

 

6. I did not have a payroll account with your bank before my unemployment. Will my application be rejected?

No, as long as you can provide income proof for any three months during the period from January 2020 to February 2021 and other required documents, you are eligible to apply this scheme. 

 

7. If I settle my loan under the 100% Personal Loan Guarantee Scheme early, will I be charged any penalty?

No. There is no early repayment penalty for loans under the 100% Personal Loan Guarantee Scheme.

 

8. Can I opt for a principal repayment holiday period of more than 12 months?

You can choose whether or not to take the principal repayment holiday, but it is fixed at 12 months under conditions set by HKMC Insurance Limited (HKMCI).

 

9. My email address and/or mobile number in the bank's records are wrong. How do I update my contact details?

You will need to update your contact details before you proceed with your application. You can do this using online banking, at a branch or over the phone:

HSBC Jade customers

(852) 2233 3033

HSBC Premier customers

(852) 2233 3322

HSBC One or other customers

(852) 2233 3000

 

10. My residential address in the bank's records is wrong. How do I update it?

You will need to update your residential address before you proceed with your application. You can do this in online banking, at a branch or over the phone:

HSBC Jade customers

(852) 2233 3033

HSBC Premier customers

(852) 2233 3322

HSBC One or other customers

(852) 2233 3000

11. Can I change the total repayment period?

No, the repayment period is fixed at 6 years, with or without a principal repayment holiday.

 

12. Which HSBC account can I use as the repayment/drawdown account for the 100% Personal Loan Guarantee Scheme?

You can use any one of the following HKD savings/current accounts as long as it is an active account under your sole name:

  • HSBC Jade (HKD savings and current accounts)
  • HSBC Premier (HKD savings and current accounts)
  • HSBC One (HKD savings and current accounts)
  • Personal Integrated Account (HKD savings and current accounts)
  • Hong Kong Dollar Savings Account
  • Hong Kong Dollar Current Account
  • Super Ease Account
  • Hong Kong Dollar Statement Savings Account
  • Revolving Credit Facility Account
  • Personal Overdraft Account

All other accounts that are not listed here cannot be used to apply for this scheme.

 

13. Can I edit my details after submitting my application?

Once you have successfully submitted your application, you will not be able to edit it online. If you need to amend or cancel your application, please call our 24-hour service hotline at (852) 2996 7288.

 

14. Can I cancel my application with HSBC?

If you need to amend or cancel your application, you can call our 24-hour service hotline at (852) 2996 7288.

 

15. Will I receive an SMS confirming that I've submitted my application?

You should receive an SMS from us about your application within 2 working days of submitting it successfully.

 

16. I received an SMS asking me to provide required documents. How can I provide this?

If you have received such an SMS, it means we need the required documents from you to process your application. You can provide these documents online or at your nearest branch.

 

17. Where can I check the status of my application?

If you applied for the 100% Personal Loan Guarantee Scheme with us, you can check your application status at any time by calling our 24-hour service hotline at (852) 2996 7288.

 

18. Will I receive a confirmation by SMS that my application was successful?

You will receive confirmation by SMS if your application has been approved by HKMC.

You will also receive a confirmation letter by post. It will set out details of your loan amount, drawdown account, repayment period, repayment schedule and rebate on the interest paid once the loan is settled.

 

19. How is interest calculated under the 100% Personal Loan Guarantee Scheme?

Interest is calculated according to the Rule of 78. This method breaks down the principal and interest in each monthly repayment of the 100% Personal Loan Guarantee Scheme.

 

Rule of 78

This method puts a decreasing weight on interest and an increasing weight on principal across the repayment periods. The number 78 comes from adding up the number of months of a 12-month-loan:

1 + 2 + 3 + 4 + 5 + 6 + 7 + 8 + 9 + 10 + 11 + 12 = 78

The interest is allocated to the repayment period in a reverse portion, such that 12/78 (first interest portion) of the total interest will be applied to the first month, 11/78 (second interest portion) of the total interest will be applied to the second month, etc. 

Illustration of showing the proportion of interest and principal in each monthly repayment using rule of 78:

A customer borrows HKD80,000 for 72 months without 12-month principal repayment holiday, at a monthly flat rate of 0.043% and handling fee is waived. As such, the total loan principal is HKD80,000

Monthly interest = HKD80,000 x 0.043% = HKD34.40

Total interest for the full term = HKD34.40 x 72 months = HKD2,476.80

Monthly repayment = HKD(80,000+2,476.80) ÷ 72 = HKD1,145.60

Details of the interest and principal allocation in each monthly repayment:

No. of repayments
Interest in each instalment (HKD)
Principal repaid in each instalment (HKD)
Outstanding Principal (HKD)
1 68.03 1,077.57 78,922.43
2 67.09 1,078.51 77,843.92
3 66.14 1,079.46 76,764.46
4 65.20 1,080.40 75,684.06
5 64.25 1,081.35 74,602.71
6 63.31 1,082.29 73,520.42
7 62.36 1,083.24 72,437.18
8 61.42 1,084.18 71,353.00
9 60.47 1,085.13 70,267.87
10 59.53 1,086.07 69,181.80
11 58.58 1,087.02 68,094.78
12 57.64 1,087.96 67,006.82
13 56.69 1,088.91 65,917.91
14 55.75 1,089.85 64,828.06
15 54.80 1,090.80 63,737.26
16 53.86 1,091.74 62,645.52
17 52.92 1,092.68 61,552.84
18 51.97 1,093.63 60,459.21
19 51.03 1,094.57 59,364.64
20 50.08 1,095.52 58,269.12
21 49.14 1,096.46 57,172.66
22 48.19 1,097.41 56,075.25
23 47.25 1,098.35 54,976.90
24 46.30 1,099.30 53,877.60
25 45.36 1,100.24 52,777.36
26 44.41 1,101.19 51,676.17
27 43.47 1,102.13 50,574.04
28 42.52 1,103.08 49,470.96
29 41.58 1,104.02 48,366.94
30 40.63 1,104.97 47,261.97
31 ,39.69 1,105.91 46,156.06
32 38.74 1,106.86 ,45,049.20
33 37.80 1,107.80 43,941.40
34 36.85 1,108.75 42,832.65
35 35.91 1,109.69 41,722.96
36 34.96 1,110.64 40,612.32
37 34.02 1,111.58 39,500.74
38 33.07 1,112.53 38,388.21
39 32.13 1,113.47 37,274.74
40 31.18 1,114.42 36,160.32
41 30.24 1,115.36 35,044.96
42 29.29 1,116.31 33,928.65
43 28.35 1,117.25 32,811.40
44 27.40 1,118.20 31,693.20
45 26.46 1,119.14 30,574.06
46 25.51 1,120.09 29,453.97
47 24.57 1,121.03 28,332.94
48 23.62 1,121.98 27,210.96
49 22.68 1,122.92 26,088.04
50 21.73 1,123.87 24,964.17
51 20.79 1,124.81 23,839.36
52 19.84 1,125.76 22,713.60
53 18.90 1,126.70 21,586.90
54 17.95 1,127.65 20,459.25
55 17.01 1,128.59 19,330.66
56 16.06 1,129.54 18,201.12
57 15.12 1,130.48 17,070.64
58 14.17 1,131.43 15,939.21
59 13.23 1,132.37 14,806.84
60 12.28 1,133.32 13,673.52
61 11.34 1,134.26 12,539.26
62 10.39 1,135.21 11,404.05
63 9.45 1,136.15 10,267.90
64 8.50 1,137.10 9,130.80
65 7.56 1,138.04 7,992.76
66 6.61 1,138.99 6,853.77
67 5.67 1,139.93 5,713.84
68 4.72 1,140.88 4,572.96
69 3.78 1,141.82 3,431.14
70 2.83 1,142.77 2,288.37
71 1.89 1,143.71 1,144.66
72 0.94 1,144.66 0.00

Details of the interest and principal allocation in each monthly repayment:

No. of repayments
1
Interest in each instalment (HKD)
68.03
Principal repaid in each instalment (HKD)
1,077.57
Outstanding Principal (HKD)
78,922.43
No. of repayments
2
Interest in each instalment (HKD)
67.09
Principal repaid in each instalment (HKD)
1,078.51
Outstanding Principal (HKD)
77,843.92
No. of repayments
3
Interest in each instalment (HKD)
66.14
Principal repaid in each instalment (HKD)
1,079.46
Outstanding Principal (HKD)
76,764.46
No. of repayments
4
Interest in each instalment (HKD)
65.20
Principal repaid in each instalment (HKD)
1,080.40
Outstanding Principal (HKD)
75,684.06
No. of repayments
5
Interest in each instalment (HKD)
64.25
Principal repaid in each instalment (HKD)
1,081.35
Outstanding Principal (HKD)
74,602.71
No. of repayments
6
Interest in each instalment (HKD)
63.31
Principal repaid in each instalment (HKD)
1,082.29
Outstanding Principal (HKD)
73,520.42
No. of repayments
7
Interest in each instalment (HKD)
62.36
Principal repaid in each instalment (HKD)
1,083.24
Outstanding Principal (HKD)
72,437.18
No. of repayments
8
Interest in each instalment (HKD)
61.42
Principal repaid in each instalment (HKD)
1,084.18
Outstanding Principal (HKD)
71,353.00
No. of repayments
9
Interest in each instalment (HKD)
60.47
Principal repaid in each instalment (HKD)
1,085.13
Outstanding Principal (HKD)
70,267.87
No. of repayments
10
Interest in each instalment (HKD)
59.53
Principal repaid in each instalment (HKD)
1,086.07
Outstanding Principal (HKD)
69,181.80
No. of repayments
11
Interest in each instalment (HKD)
58.58
Principal repaid in each instalment (HKD)
1,087.02
Outstanding Principal (HKD)
68,094.78
No. of repayments
12
Interest in each instalment (HKD)
57.64
Principal repaid in each instalment (HKD)
1,087.96
Outstanding Principal (HKD)
67,006.82
No. of repayments
13
Interest in each instalment (HKD)
56.69
Principal repaid in each instalment (HKD)
1,088.91
Outstanding Principal (HKD)
65,917.91
No. of repayments
14
Interest in each instalment (HKD)
55.75
Principal repaid in each instalment (HKD)
1,089.85
Outstanding Principal (HKD)
64,828.06
No. of repayments
15
Interest in each instalment (HKD)
54.80
Principal repaid in each instalment (HKD)
1,090.80
Outstanding Principal (HKD)
63,737.26
No. of repayments
16
Interest in each instalment (HKD)
53.86
Principal repaid in each instalment (HKD)
1,091.74
Outstanding Principal (HKD)
62,645.52
No. of repayments
17
Interest in each instalment (HKD)
52.92
Principal repaid in each instalment (HKD)
1,092.68
Outstanding Principal (HKD)
61,552.84
No. of repayments
18
Interest in each instalment (HKD)
51.97
Principal repaid in each instalment (HKD)
1,093.63
Outstanding Principal (HKD)
60,459.21
No. of repayments
19
Interest in each instalment (HKD)
51.03
Principal repaid in each instalment (HKD)
1,094.57
Outstanding Principal (HKD)
59,364.64
No. of repayments
20
Interest in each instalment (HKD)
50.08
Principal repaid in each instalment (HKD)
1,095.52
Outstanding Principal (HKD)
58,269.12
No. of repayments
21
Interest in each instalment (HKD)
49.14
Principal repaid in each instalment (HKD)
1,096.46
Outstanding Principal (HKD)
57,172.66
No. of repayments
22
Interest in each instalment (HKD)
48.19
Principal repaid in each instalment (HKD)
1,097.41
Outstanding Principal (HKD)
56,075.25
No. of repayments
23
Interest in each instalment (HKD)
47.25
Principal repaid in each instalment (HKD)
1,098.35
Outstanding Principal (HKD)
54,976.90
No. of repayments
24
Interest in each instalment (HKD)
46.30
Principal repaid in each instalment (HKD)
1,099.30
Outstanding Principal (HKD)
53,877.60
No. of repayments
25
Interest in each instalment (HKD)
45.36
Principal repaid in each instalment (HKD)
1,100.24
Outstanding Principal (HKD)
52,777.36
No. of repayments
26
Interest in each instalment (HKD)
44.41
Principal repaid in each instalment (HKD)
1,101.19
Outstanding Principal (HKD)
51,676.17
No. of repayments
27
Interest in each instalment (HKD)
43.47
Principal repaid in each instalment (HKD)
1,102.13
Outstanding Principal (HKD)
50,574.04
No. of repayments
28
Interest in each instalment (HKD)
42.52
Principal repaid in each instalment (HKD)
1,103.08
Outstanding Principal (HKD)
49,470.96
No. of repayments
29
Interest in each instalment (HKD)
41.58
Principal repaid in each instalment (HKD)
1,104.02
Outstanding Principal (HKD)
48,366.94
No. of repayments
30
Interest in each instalment (HKD)
40.63
Principal repaid in each instalment (HKD)
1,104.97
Outstanding Principal (HKD)
47,261.97
No. of repayments
31
Interest in each instalment (HKD)
,39.69
Principal repaid in each instalment (HKD)
1,105.91
Outstanding Principal (HKD)
46,156.06
No. of repayments
32
Interest in each instalment (HKD)
38.74
Principal repaid in each instalment (HKD)
1,106.86
Outstanding Principal (HKD)
,45,049.20
No. of repayments
33
Interest in each instalment (HKD)
37.80
Principal repaid in each instalment (HKD)
1,107.80
Outstanding Principal (HKD)
43,941.40
No. of repayments
34
Interest in each instalment (HKD)
36.85
Principal repaid in each instalment (HKD)
1,108.75
Outstanding Principal (HKD)
42,832.65
No. of repayments
35
Interest in each instalment (HKD)
35.91
Principal repaid in each instalment (HKD)
1,109.69
Outstanding Principal (HKD)
41,722.96
No. of repayments
36
Interest in each instalment (HKD)
34.96
Principal repaid in each instalment (HKD)
1,110.64
Outstanding Principal (HKD)
40,612.32
No. of repayments
37
Interest in each instalment (HKD)
34.02
Principal repaid in each instalment (HKD)
1,111.58
Outstanding Principal (HKD)
39,500.74
No. of repayments
38
Interest in each instalment (HKD)
33.07
Principal repaid in each instalment (HKD)
1,112.53
Outstanding Principal (HKD)
38,388.21
No. of repayments
39
Interest in each instalment (HKD)
32.13
Principal repaid in each instalment (HKD)
1,113.47
Outstanding Principal (HKD)
37,274.74
No. of repayments
40
Interest in each instalment (HKD)
31.18
Principal repaid in each instalment (HKD)
1,114.42
Outstanding Principal (HKD)
36,160.32
No. of repayments
41
Interest in each instalment (HKD)
30.24
Principal repaid in each instalment (HKD)
1,115.36
Outstanding Principal (HKD)
35,044.96
No. of repayments
42
Interest in each instalment (HKD)
29.29
Principal repaid in each instalment (HKD)
1,116.31
Outstanding Principal (HKD)
33,928.65
No. of repayments
43
Interest in each instalment (HKD)
28.35
Principal repaid in each instalment (HKD)
1,117.25
Outstanding Principal (HKD)
32,811.40
No. of repayments
44
Interest in each instalment (HKD)
27.40
Principal repaid in each instalment (HKD)
1,118.20
Outstanding Principal (HKD)
31,693.20
No. of repayments
45
Interest in each instalment (HKD)
26.46
Principal repaid in each instalment (HKD)
1,119.14
Outstanding Principal (HKD)
30,574.06
No. of repayments
46
Interest in each instalment (HKD)
25.51
Principal repaid in each instalment (HKD)
1,120.09
Outstanding Principal (HKD)
29,453.97
No. of repayments
47
Interest in each instalment (HKD)
24.57
Principal repaid in each instalment (HKD)
1,121.03
Outstanding Principal (HKD)
28,332.94
No. of repayments
48
Interest in each instalment (HKD)
23.62
Principal repaid in each instalment (HKD)
1,121.98
Outstanding Principal (HKD)
27,210.96
No. of repayments
49
Interest in each instalment (HKD)
22.68
Principal repaid in each instalment (HKD)
1,122.92
Outstanding Principal (HKD)
26,088.04
No. of repayments
50
Interest in each instalment (HKD)
21.73
Principal repaid in each instalment (HKD)
1,123.87
Outstanding Principal (HKD)
24,964.17
No. of repayments
51
Interest in each instalment (HKD)
20.79
Principal repaid in each instalment (HKD)
1,124.81
Outstanding Principal (HKD)
23,839.36
No. of repayments
52
Interest in each instalment (HKD)
19.84
Principal repaid in each instalment (HKD)
1,125.76
Outstanding Principal (HKD)
22,713.60
No. of repayments
53
Interest in each instalment (HKD)
18.90
Principal repaid in each instalment (HKD)
1,126.70
Outstanding Principal (HKD)
21,586.90
No. of repayments
54
Interest in each instalment (HKD)
17.95
Principal repaid in each instalment (HKD)
1,127.65
Outstanding Principal (HKD)
20,459.25
No. of repayments
55
Interest in each instalment (HKD)
17.01
Principal repaid in each instalment (HKD)
1,128.59
Outstanding Principal (HKD)
19,330.66
No. of repayments
56
Interest in each instalment (HKD)
16.06
Principal repaid in each instalment (HKD)
1,129.54
Outstanding Principal (HKD)
18,201.12
No. of repayments
57
Interest in each instalment (HKD)
15.12
Principal repaid in each instalment (HKD)
1,130.48
Outstanding Principal (HKD)
17,070.64
No. of repayments
58
Interest in each instalment (HKD)
14.17
Principal repaid in each instalment (HKD)
1,131.43
Outstanding Principal (HKD)
15,939.21
No. of repayments
59
Interest in each instalment (HKD)
13.23
Principal repaid in each instalment (HKD)
1,132.37
Outstanding Principal (HKD)
14,806.84
No. of repayments
60
Interest in each instalment (HKD)
12.28
Principal repaid in each instalment (HKD)
1,133.32
Outstanding Principal (HKD)
13,673.52
No. of repayments
61
Interest in each instalment (HKD)
11.34
Principal repaid in each instalment (HKD)
1,134.26
Outstanding Principal (HKD)
12,539.26
No. of repayments
62
Interest in each instalment (HKD)
10.39
Principal repaid in each instalment (HKD)
1,135.21
Outstanding Principal (HKD)
11,404.05
No. of repayments
63
Interest in each instalment (HKD)
9.45
Principal repaid in each instalment (HKD)
1,136.15
Outstanding Principal (HKD)
10,267.90
No. of repayments
64
Interest in each instalment (HKD)
8.50
Principal repaid in each instalment (HKD)
1,137.10
Outstanding Principal (HKD)
9,130.80
No. of repayments
65
Interest in each instalment (HKD)
7.56
Principal repaid in each instalment (HKD)
1,138.04
Outstanding Principal (HKD)
7,992.76
No. of repayments
66
Interest in each instalment (HKD)
6.61
Principal repaid in each instalment (HKD)
1,138.99
Outstanding Principal (HKD)
6,853.77
No. of repayments
67
Interest in each instalment (HKD)
5.67
Principal repaid in each instalment (HKD)
1,139.93
Outstanding Principal (HKD)
5,713.84
No. of repayments
68
Interest in each instalment (HKD)
4.72
Principal repaid in each instalment (HKD)
1,140.88
Outstanding Principal (HKD)
4,572.96
No. of repayments
69
Interest in each instalment (HKD)
3.78
Principal repaid in each instalment (HKD)
1,141.82
Outstanding Principal (HKD)
3,431.14
No. of repayments
70
Interest in each instalment (HKD)
2.83
Principal repaid in each instalment (HKD)
1,142.77
Outstanding Principal (HKD)
2,288.37
No. of repayments
71
Interest in each instalment (HKD)
1.89
Principal repaid in each instalment (HKD)
1,143.71
Outstanding Principal (HKD)
1,144.66
No. of repayments
72
Interest in each instalment (HKD)
0.94
Principal repaid in each instalment (HKD)
1,144.66
Outstanding Principal (HKD)
0.00

The above examples show that a larger proportion of the repayment made in the early stages is allocated to settle the interest expense, with a smaller proportion to repay the principal. Such allocation of the repayment will reverse after more instalments have been made while the total interest expenses will remain unchanged.

The example is for illustration purpose only. All the figures are rounded up to 2 decimal places.