100% Personal Loan Guarantee Scheme

Annual fee

Not applicable

Handling charge

Not applicable

Early redemption penalty

Not applicable

Deferred payment

Not applicable

Late charge

HKD100 on each instalment due to insufficient funds

Unauthorised overdraft handling charge

Not applicable

You'll need to submit a copy of these supporting documents with your application.

HKID card
A copy of your HKID card showing that you have permanent residency status.

Proof of your latest residential address
You'll need to submit this if you're applying for a new loan, or if you're applying for a top-up loan but you've changed your residence.

• The proof of address should be in your name and from within the last 3 months of your application date. Accepted proof include utility bills, government rent or rates demand notes, a copy of the tenancy agreement or rental receipt, or any correspondence issued by any government department or public bodies to you (for example, a tax demand note issued by the Inland Revenue Department).
• If you're only able to provide proof of address in the name of another person living with you, such as a family member, please provide a declaration in your loan application explaining the situation. You'll also need to include a copy of a bank statement issued to you at the address.

Proof of unemployment status or reduced main recurring income
Please see details of the required supporting documents (PDF).

Proof of previous employment/occupation and main recurring income

You'll only need to submit this if you do not hold a payroll account with us. For details, please see the required supporting documents (PDF).

Upload supporting documents for your application now.

For enquiries about loans, please call our 24-hour hotline on (852) 2996 7288.

We can only offer our services under the 100% Personal Loan Guarantee Scheme to HSBC customers at this time. If you want to apply for a loan under this scheme with us, you can open a bank account through the HSBC HK Mobile Banking app first.

No, there won't be any early redemption penalties for loans under the 100% Personal Loan Guarantee Scheme.

You can choose whether or not to take the principal repayment holiday. However, it's fixed at 18 months as offered by HKMC Insurance Limited.

We use the '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, so that 12/78 (the first interest portion) of the total interest will apply to the first month, 11/78 (the second interest portion) of the total interest will apply to the second month, and so on.

Here's an illustration to show the interest and principal proportion for each monthly repayment using the 'Rule of 78':

You borrow HKD100,000 for 120 months without the 18-month principal repayment holiday, at a monthly flat rate of 0.043% and with the handling fee waived. So your total loan principal is HKD100,000.

Monthly interest = HKD100,000 x 0.043% = HKD43.00

Total interest for the full term = HKD43.00 x 120 months = HKD5,160.00

Monthly repayment = HKD(100,000+5,160.00) ÷ 120 = HKD876.33, rounded up to HKD876.40