Interest rate table for redrawing Personal Instalment Loan

Range of New Loan Amount (HKD)

 

Repayment Period (Month)

5,000 - 14,999

15,000 - 49,999

50,000 - 199,999

0.86% flat p.m.

0.71% flat p.m.

0.56% flat p.m.

Monthly Repayment (HKD)*

APR +

Monthly Repayment (HKD) *

APR +

Monthly Repayment (HKD) *

APR +

6

175.3

21.05%

173.8

17.49%

172.3

14.01%

9

119.8

22.06%

118.3

18.35%

116.8

14.72%

12

92.0

22.53%

90.5

18.76%

89.0

15.06%

18

64.2

22.87%

62.7

19.09%

61.2

15.36%

24

50.3

22.92%

48.8

19.17%

47.3

15.47%

36

36.4

22.74%

34.9

19.11%

33.4

15.48%

48

29.5

22.47%

28.0

18.95%

26.5

15.42%

54

27.2

22.31%

25.7

18.85%

24.2

15.36%

60

25.3

22.17%

23.8

18.75%

22.3

15.31%

Range of New Loan Amount (HKD) 

 

Repayment Period (Month)

200,000 - 499,999

500,000 or above

0.48% flat p.m.

0.36% flat p.m.

Monthly Repayment (HKD) *

APR +

Monthly Repayment (HKD) *

APR +

6

171.5

12.19%

170.3

9.51%

9

116.0

12.81%

114.8

10.00%

12

88.2

13.12%

87.0

10.24%

18

60.4

13.40%

59.2

10.48%

24

46.5

13.51%

45.3

10.59%

36

32.6

13.55%

31.4

10.67%

48

25.7

13.53%

24.5

10.69%

54

23.4

13.49%

22.2

10.67%

60

21.5

13.47%

20.3

10.67%

* Monthly repayment amount is shown for a HK$1,000 loan amount for ease of conversion and it is rounded up to one decimal place.
+ The annualized percentage rate (APR) is calculated based on a new loan of HK$10,000 (which comprises an outstanding principal of HK$5,000 and a redrawn loan amount of HK$5,000).

To borrow or not to borrow? Borrow only if you can repay!

  1. The interest rate table applies exclusively to customers redrawing their Personal Instalment Loan and is for indication only. Actual interest rate may differ on a case by case basis.
  2. A redraw fee equivalent to 1% on the redrawn loan amount and rounded up to one decimal place (or HK$50, whichever is higher) will be calculated and deducted from the loan amount when drawn down.
  3. The interest rate that will apply will be based on the new loan amount, i.e. outstanding principal plus the redrawn loan amount.
  4. The APR is calculated according to the method set out in the relevant guideline referred to in the Code of Banking Practice, and is rounded up or down to the nearest two decimal places. An APR is a reference rate, which includes all applicable interest rates, fees and charges of the product, expressed as an annualized rate. Please note that the actual APR applicable may differ. Please visit any HSBC branch in Hong Kong for further details of monthly repayment amounts and APRs for repayment periods not shown in the above monthly repayment table.
  5. Minimum redraw amount is HK$3,000 and further redrawing will not be permitted after the Personal Instalment Loan is fully repaid.
  6. 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).