| Hang Seng Asset Link Secured
Overdraft offers an asset financing platform by allowing you to
transform your assets into an extra boost of cash flow, as to
enjoy convenient financial management. |
|
 |
| You can get extra
cash through Asset Link’s asset financial platform
by pledging with a wide rage of assets* held with
Hang Seng Bank. The following examples show how Asset
Link Secured Overdraft can facilitate your financial
needs: |
| |
 |
 |
|
| Through Asset Link’s
asset financing platform, you can consolidate a wide-range
of assets you hold at Hang Seng Bank and transform
them to an extra boost of cash flow. You can also
transfer additional assets from other financial institutions
to Hang Seng Bank for consolidation to enjoy convenient
financial management. |
| Asset Link Secured Overdraft
accepts a wide-range of assets for pledging, including
property, securities, funds, certificate of deposit,
foreign currency savings deposit, time deposits, investment
deposits, equity linked investment / note, bonds or
statement gold. The loan ratio can be as high as 95%
of the market value of pledged assets. For more details,
please refer to the Asset
Link Secured Overdraft Loan Ratio (Discount Factor)
Table. |
| With Asset Link Secured Overdraft,
assets can be transformed into liquid cash, and at
the same time, can be freely traded or retained for
long term capital appreciation, allowing you to fully
maximize the growth potential of your assets. |
| Upon the approval of the Asset
Link secured Overdraft, the approved Secured Overdraft
limit will be available at your Hong Kong Dollar Current
Account, giving you instant access to the extra fund,
with interest calculated on the overdrawn amount on
a daily basis. Repayment can be made anytime according
to individual financial needs with no minimum repayment
required. |
|
 |
|
| *refers to asset type approved by the Bank |
| Terms and Conditions for Asset Link Secured Overdraft
promotion offers: |
| (1) |
This offer is only applicable to new applicants whose
application for Hang Seng Asset Link Secured Overdraft
(with a Secured Overdraft Ceiling Limit in the sum of
HK$200,000 or above) is received by Hang Seng Bank Limited
(“Hang Seng”) during the period from 13 October
2008 to 31 December 2008 (“Promotion Period”)
and with the Secured Overdraft to be set up ("Effective
Date") on or before 31 January 2009. This offer is
not applicable to customers who maintained or terminated
Hang Seng Secured Overdraft Facility from 1 December
2007 to 12 October 2008 (both days inclusive), nor to
customers who apply for and then terminate Asset Link
Secured Overdraft during the Promotion Period. This offer
is only applicable to applicants who are existing Hang
Seng Integrated Account holders (including Prestige /
Preferred Banking or other “Integrated Account”)
or applicants who have successfully applied for an Integrated
Account together with Asset Link Secured Overdraft. |
| (2) |
Prestige Banking customers will enjoy interest rate
for Asset Link Secured Overdraft at P-1% p.a. while other
“Integrated Account” customers will enjoy
interest rate for Asset Link Secured Overdraft at P% p.a..
P denotes Prime rate, refers to Hong Kong Dollar Prime
Lending Rate as quoted by Hang Seng from time to time. |
| (3) |
A monthly handling fee of 0.01% on the approved Secured
Overdraft Ceiling Limit will be charged. For those with
the asset type as property, the monthly handling fee will
be 0.01% on the approved Secured Overdraft Ceiling Limit
with a minimum of HKD100. The monthly handling fee will
be debited from the overdraft account on the 21st day
of each month starting from the Effective Date |
| (4) |
Mannings Cash Coupon (“cash coupon”) is
available to new customers only who apply for and obtain
approval for Asset Link Secured Overdraft. Customers with
a Secured Overdraft Ceiling Limit of HKD200,000 –HKD500,000
below will receive cash coupons with total value of HKD100;
customers with a Secured Overdraft Ceiling Limit of HKD500,000
or above will receive cash coupons with a total value
of HKD200. Cash coupons will be sent to customer’s
mailing address before 28 February 2009. Cash coupons
are only available while stocks last, and are subject
to all relevant terms and conditions. In the event of
loss or damage of cash coupon by the customer, Hang Seng
will not be responsible for replacing or exchange of issued
cash coupons. |
Note : |
• |
For details of loan ratios, please refer to Asset Link
Secured Overdraft leaflet or contact our staff. |
• |
Customers who apply for Asset Link Secured Overdraft
pledged with Deposits and Investment Products (excluding
property assets), the Secured Overdraft Available Limit
will be adjusted according to the market value of the
pledgeable assets and the relevant Loan Ratio. |
• |
Customers who apply for Asset Link Secured Overdraft
pledged with Property are required to insure the subject
property with a fire insurance policy. |
Hang Seng Bank reserves the right to suspend, revise or
terminate the above offers and amend the terms and conditions
thereof at any time without prior notice. The decision
of Hang Seng Bank on all matters relating to the above
offers shall be final and binding on all parties concerned.
In case of any discrepancy between the English and Chinese
versions of the terms and conditions of these promotion
offers, the English version shall prevail. |
|