Apply for Special 100% Loan Guarantee to get a facility amount of as much as HKD5 million. Priority account opening available for new customers applying through Hang Seng

Hang Seng fully supports the SME Financing Guarantee Scheme ("SFGS")⁽¹⁾, now with the launch of the Online Application for SFGS, commercial customers can simply complete an online application form, upload documents and click the submit button, just 3 simple steps and it’s done.

From now till 31 October 2020, successfully apply for Special 100% Loan Guarantee can enjoy the following offers:

HKD50 Cash Coupon, and automatically enter the Lucky Draw with a chance to win a Dyson Pure Cool™ Purifying Tower Fan TP04 White Silver (original price HKD5,480), total of 3 winners!

New commercial customers who concurrently open an Integrated Business Solutions Account (”IBS Account”) can enjoy: Priority account opening to withdraw the loan without hassles, plus waiver of account opening fee and company search fee (saving up to HKD1,350) and waiver of initial deposit requirement

Act now to apply for SFGS and upload the required documents online.

Apply Now

Major Features of SFGS

	Special 100% Loan Guarantee	90% Guarantee Product	80% Guarantee Product
Facility Type	Instalment Loan	Instalment Loan; Term Loan	Instalment Loan; Term Loan; Revolving Loan; Overdraft Facility; Trade Facility
Maximum Facility Amount⁽³⁾	HKD5,000,000	HKD8,000,000	HKD18,000,000
Maximum Guarantee Period	5 years	5 years	7 years
Maximum Principal Moratorium Period	12 Months	18 Months	18 Months
Application Privileges	Full Guarantee Fee Waiver	Enjoy Full Handling Fee Waiver and Full Guarantee Fee Subsidy	Enjoy up to HKD50,000 Guarantee Fee Subsidy, and successfully apply for trade facilities under SFGS can enjoy an extra HKD5,000 Trade Service Fee Discount Coupons

To know more
Please contact your Relationship Manager, call 2198 8022 or
click the “Live Chat” tab on the right hand side of the screen

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

Remarks:

The SFGS is provided by The HKMC Insurance Limited (“HKMCI”), a wholly-owned subsidiary of the Hong Kong Mortgage Corporation Limited (“HKMC”). The facility type, maximum facility amount, maximum guarantee period, and maximum principal moratorium period are set in accordance with the scheme features determined by HKMCI. A guarantee fee will be applied and is subject to the credit facility amount, bank interest rate and the guarantee coverage as determined by the HKMCI from time to time. Application of Special 100% Loan Guarantee are entitled to HKMCI’s full guarantee fee waiver. For details, please visit the website of the HKMC.
The application period for Special 100% Loan Guarantee will last until 19 April 2021.
Hang Seng Bank Limited ("Hang Seng") has the absolute discretion to reject any application or to approve a credit facility of a lesser amount than the customer have applied for. The final approved credit facility amount, interest rate, fees and charges and other terms and conditions are subject to the relevant loan documents to be accepted and signed by the customer. Hang Seng reserves the right of final approval.
HKMCI provides interest subsidy up to 12 months to credit facilities under 80% Guarantee Product and 90% Guarantee Product with the amount of subsidy subject to a cap of 3% per annum. Interest subsidy is applicable to new loan applications successfully submitted on or before 31 May 2021 and the related loans drawn down / effective on or before 31 Aug 2021. In the month the customer is entitled to receive interest subsidy, the related credit facility(ies) must be in good credit condition. The details of interest subsidy is subject to HKMCI’s final announcement, please refer to the website of HKMC or contact your Relationship Manager for details.

Terms and Conditions for Application Privileges of 80% Guarantee Product:

The privileges of 80% Guarantee Product are applicable to customers who submit their applications for 80% Guarantee Product under SFGS on or before 31 December 2020 and the related loans are approved and drawn down / effective on or before 30 April 2021 ("Eligible Customers").
Eligible Customers of 80% Guarantee Product are entitled to the full subsidy on the single upfront guarantee fee or the first year annual guarantee fee paid, subject to the maximum subsidy amount of HKD50,000 The subsidy amount will be credited to the Eligible Customer’s bank account (that used to settle the guarantee fee with the HKMCI) within 2 weeks after all applied credit facilities of 80% Guarantee Product under SFGS being drawn down / effective.
The HKD5,000 Trade Service Fee Discount Coupons (“Coupons”) are only applicable to the Eligible Customers of 80% Guarantee Product who successfully apply for trade facility(ies) under SFGS. The Coupons will be mailed to the eligible customers within 90 days after the effective date of relevant credit limit. The Coupons can only be used for discounting handling fees / charges in connection with trade services (except factoring services and bank guarantee services). The use of Coupons is subject to the terms and conditions printed thereon.

Terms and Conditions for Application Privileges of 90% Guarantee Product:

The privileges of 90% Guarantee Product are applicable to customers who submit their applications for 90% Guarantee Product under SFGS on or before 31 December 2020 and the related loans are approved and drawn down / effective on or before 30 April 2021 ("Eligible Customers").
Eligible Customers of 90% Guarantee Product are entitled to (1) full handling fee waiver (applicable to Instalment Loan and Term Loan), and (2) full subsidy on the single upfront guarantee fee (if the customer chooses to settle the guarantee fee on annual basis, only the first year annual guarantee fee will be subsidized). The subsidy amount will be credited to the Eligible Customers' bank accounts (that used to settle the guarantee fee with the HKMCI) within 2 weeks after all applied credit facilities of 90% Guarantee Product under SFGS being drawn down.

Offer 1: Terms and Conditions for HKD50 Cash Coupon offer and Lucky Draw:

HKD50 Cash Coupon

(i)

HKD50 Cash Coupon offer is only applicable to commercial customers applying Special 100% Loan Guarantee from 18 September to 31 October 2020 (“Promotion Period”) on condition that the loan has been successfully approved and drawn down within 3 months from the date of application (“Eligible Customer for Offer 1”).

(ii)

Each Eligible Customer for Offer 1 can enjoy HKD50 Cash Coupon (“Cash Coupon”) once during the Promotion Period.

(iii)

Hang Seng Bank Limited ("Hang Seng") will notify Eligible Customer for Offer 1 of the delivery arrangement of Cash Coupon by mailing the redemption letter to eligible customer’s correspondence address in Hang Seng’s record on or before 31 March 2021. Hang Seng reserves the right of validating customer’s eligibility in receiving the Cash Coupon.

(iv)

Hang Seng is not the supplier of the Cash Coupon and will therefore not assume any liability in relation to the Cash Coupon. Any matters with regards to the quality and availability of the product(s) and/or service(s) relating to the Cash Coupon will be solely responsible by the supplier of the Cash Coupon. Any disputes or complaints relating to the Cash Coupon shall be resolved directly between customers concerned and the supplier. For the details of how to use the Cash Coupon, please refer to the terms and conditions printed thereon. Cash Coupon cannot be redeemed for cash or exchanged for any other gift. If there is any damage or lost, the Cash Coupon will not be replaced.

Automatically enter the Lucky Draw and have a chance to win a Dyson Pure Cool™ Purifying Tower Fan TP04 White Silver (original price HKD5,480)

(v)

Each Eligible Customers for Offer 1 will be automatically entered into the Lucky Draw once during the Promotion Period.

(vi)

The Lucky Draw reward is one Dyson Pure Cool™ Purifying Tower Fan TP04 White Silver (“ Reward”) (original price HKD5,480).

(vii)

Three Winners (“the Winner”) will be drawn by the computer system randomly after the Promotion Period.

(viii)

Hang Seng will mail a notification letter relating to the redemption of the Reward to the Winner’s correspondence address in Hang Seng’s record on or before 31 March 2021. The decision of Hang Seng regarding the eligibility of the Winner shall be final.

(ix)

Hang Seng reserves the right to replace the Reward with other gifts of equivalent value. Hang Seng is not the supplier of the Reward and will therefore not assume any liability in relation to the Reward. Any matters with regard to the quality and availability of the product(s) and/or service(s) relating to the Reward will be solely responsible by the supplier of the Reward. Any disputes or complaints arising from the Reward shall be resolved directly between the customers concerned and the supplier. The above Reward cannot be redeemed for cash or exchanged for other gifts.

(x)

In case of any dispute on the Lucky Draw results, the eligibility of the Winner and any matters related to the Lucky Draw, Hang Seng’s decision shall be final and conclusive and binding on all parties concerned.

Offer 2: Terms and Conditions for Offers to New Commercial Customers Concurrently Open an Integrated Business Solutions Account (”IBS Account”)

Account opening fee and company search fee waiver (saving up to HKD1,350), and waiver of initial deposits requirement

(xi)

Account opening fee and company search fee waiver, and waiver of initial deposits requirement are applicable to Eligible Customers for Offer 1 who are new commercial customers and open an IBS Account concurrently (“Eligible Customer for Offer 2”). Eligible Customer for Offer 2 can enjoy account opening fee and company search fee waiver, and also the waiver of initial deposits requirement on the newly opened IBS Account. For details, please call the Business Partner Direct at 2198 8000.

(xii)

New commercial customers refer to commercial customer who do not have any business account at Hang Seng.

General Terms and Conditions:

The above offers cannot be used in conjunction with other promotional offers. Hang Seng reserves the right to suspend, alter or terminate the above privileges and amend these terms and conditions at any time without prior notice. In case of disputes, Hang Seng reserves the right of final decision.
These terms and conditions are governed by and will be construed in accordance with the laws of the Hong Kong Special Administrative Region.
These terms and conditions are subject to prevailing regulatory requirements.
No person other than the customers and Hang Seng (which includes its successors and assigns) will have any right under the Contracts (Rights of Third Parties) Ordinance to enforce or enjoy the benefit of any of the provision of these terms and conditions.
The English version of these terms and conditions shall prevail whenever there is a discrepancy between the English and Chinese versions.