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Business Mortgage-Link: Case Sharing


Mr Wong, who runs a trading business with an average monthly working capital of around HKD1,000,000, is planning to purchase a new office to support his business expansion. To finance that, he needs a HKD2,000,000 mortgage loan with a 10-year repayment period.

In addition to raising sufficient funds to grow the business, Mr Wong is also looking for a way to save interest expenses. Therefore, he goes for Hang Seng Business Mortgage-Link.

Hang Seng Business Mortgage-Link brings Mr Wong the following financial advantages:
Flexible Mortgage Plan
Provides office mortgage financing to fuel business growth with ample liquidity
Better Cash Management
Offers greater financial flexibility through consolidated management of daily business cash inflows and outflows by opening an IBS Account at the same time
Trade Finance Service
Ready access to a trade facility of up to HKD2,000,000 (up to 200% of the pledged savings)
More Interest Savings
Earns deposit interest at the mortgage rate to offset interest expenses on the loan by linking the IBS Account with the mortgage account

 
Hang Seng Business
Mortgage-Link
Conventional Mortgage Plan
Loan amount
HKD2,000,000
Mortgage interest rate (p.a.)(1)
6.50%
6.25%
Average deposit banlance
HKD1,000,000
Savings interest rate (p.a.)(1,2)
6.50%
2.75%
Monthly mortgage repayment
HKD22,710
HKD22,456
Total mortgage interest repayment (a)
HKD724,610
HKD694,214
Total interest return from saving (b)(3)
HKD567,508
HKD316,517
Net interest expenses (a-b)
HKD157,102
HKD377,697
 
Saving interest expenses of HKD220,595, that is, 58%! (4,5)

• Get Cash Rebate up to 0.2% on loan amount(6)!
• Apply online and enjoy $100 Commercial Card Cash Dollars upon approval(7,8)!

Notes :
(1) All mortgage and savings interest rates are assumed to be constant throughout the tenor period.
(2) The IBS Savings Account offers a preferential interest rate for an amount of up to 50% of the mortgage loan outstanding principal. The cap will be adjusted according to the mortgage loan outstanding principal. Hang Seng Bank's (“the Bank”) standard savings rate will be applied on savings deposits exceeding the cap.
(3) IBS Savings Account is assumed to be the deposit account.
(4) In addition to the interest expenses, there will be other fees imposed by the Bank.
(5) The above-mentioned loan terms and interest rates are for reference only and are not binding on the Bank. The actual loan terms and preferential savings interest rate will be specified in the Facility Letter to be signed by the customer.
(6) Successful applicants for a mortgage loan under Business Mortgage-Link will receive Cash Rebate up to 0.2% on Loan Amount upon loan drawdown. The offer is limited to residential property type only. The Bank will credit the amount to the designated mortgage instalment direct debit account.
(7) Only applicable to customers who hold a Hang Seng Commercial Card. If a customer spends or makes cash advances within 2 months after the loan drawdown, $100 Cash Dollars will be credited to the Commercial Card account being used to make the first spending or cash advances by the company within eight to 10 weeks after the posting date of relevant spending transaction.
(8) Loan approval is entirely at the discretion of the Bank. The Bank reserves the right to adjust any interest rates, fees, charges, special offers and other terms and conditions from time to time.
 
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