Debt Consolidation Instalment Loan

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Personal > Loans > Debt Consolidation Instalment Loan

Online Personal Loan Experience

1.Mobile or Online Application
2.Submit Documents Instantly
3.Pay Off Card and Loan Balance with Extra Cash in hand ⁽¹⁾

Your Existing Outstanding Balance

Please provide your current card or loan outstanding information to find out how you can benefit from our tailored Hang Seng Debt Consolidation Loan Solution!

Outstanding 0:

Outstanding Amount:	HKD
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Estimated Monthly Repayment Amount:	HKD
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Annualised Interest Rate:	%
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Original Principal Amount:

HKD

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Monthly Repayment Amount:

HKD

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Tenor:

Repaid Tenor

Total Tenor

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Outstanding Amount:	HKD
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Estimated Monthly Repayment Amount:	HKD
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Annualised Interest Rate:	%
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Summary of Existing Outstanding Balance

Outstanding Items

Outstanding Amount

HKD 0

Monthly Repayment Amount

HKD 0

Your Debt Consolidation Solution

Pay off my debt in:

Reduce my monthly repayment amount to:

Hang Seng Debt Consolidation Loan

Total Loan Amount

HKD 0

Annualised Percentage Rate

Monthly Repayment Amount

HKD 0

APR is calculated based on a monthly flat rate of % over a -month repayment period, including the handling fee by way of a further loan equal to % per annum of the loan amount.

Please consider Hang Seng Personal Instalment Loan. For details, please refer to Handy Cash Personal Instalment Loan.

Hang Seng Debt Consolidation Loan
Original Repayment

Monthly Repayment Amount HKD 0	HKD 0 HKD 0
Total Interest Amount HKD 0	HKD 0 HKD 0
Repayment Tenor 0 months	0 months 0 months

If you prefer extra cash...

HKD
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Monthly Repayment on Extra Cash Amount

HKD

Repayment Schedule

Print Repayment Schedule

Hang Seng Bank

Repayment Schedule of Hang Seng Debt Consolidation Instalment Loan

Example Regarding the Breakdown of Principal and Interest in the Monthly Repayment of Hang Seng Debt Consolidation Instalment Loan

(The example below is for reference only which does not reflect the actual repayment process and the allocation of principal and interest regarding individual loan account)

Assuming a loan amount of HKD which a per month flat rate at % applies, with a service charge per annum of % on the loan amount, namely HKD per annum, the monthly instalment amount of such a -month tenor loan is HKD(The monthly instalment amount is rounded up to 1 decimal point).

Loan Amount:	HKD
Interest Rate (per month flat):	%
Tenor (Months):
Service Charge per annum%:	%
Total Service Charge:	HKD
Total Loan Amount:	HKD
Monthly Instalment Amount :	HKD

No. of Instalment

Monthly Instalment Amount

Interest Payment

Principal Payment

Hang Seng Debt Consolidation Instalment Loan:

Successfully apply for and draw down the loan on or before 24 March 2020 to enjoy up to HKD12,500 cash reward, which is calculated by new Hang Seng outstanding balance. Customer can enjoy HKD100 cash reward for each HKD20,000 loan amount⁽²⁾ !
Apply via Mobile or Online to enjoy extra up to HKD500 cash rebate⁽³⁾ !
Loan amount of up to 21 times of your monthly salary⁽⁴⁾ .
Enjoy extra cash up to 8 times of your monthly salary⁽⁴⁾ on hand in addition to having your outstanding credit card and loan balances paid off!
Repayment periods up to 72 months with a fixed monthly repayment amount for better budget planning.
Personalised interest rate to save more than 89% of interest expenses.
Transfer all your outstanding credit card and loan balances to a single loan account for easy management.
Only the latest month's income proof⁽⁵⁾ is required, people from all sectors are welcome to apply.
Eligibility to apply for a Top-up Loan on your repaid principal amount during the repayment period. For details, please call our 24-hour application hotline at 2812 8000.

	General high-interest loan and credit card*	Transfer to Hang Seng Debt Consolidation Instalment Loan^#
Loan amount	HKD200,000
Average monthly repayment	HKD 8,487	HKD 3,920	Reduced by 53%
Repayment period (month)	379 (over 31 years)	60 (only 5 years)	Shortened by over 26 years
Total interest expense	HKD 347,764	HKD 35,200	Interest saved over 89%

* This example is calculated based on an annual interest rate of 30% charged by general credit card and a monthly repayment of all fees and charges billed to the credit card followed by 1.5% of the credit card outstanding balance or HKD50 (whichever is higher) over a 379-month repayment period. The average monthly repayment amount quoted above is calculated based on the first 6 instalments and is rounded to the nearest dollar. The Annualised Percentage Rate (APR) is 35.75%.
# The above example is calculated based on a monthly flat rate of 0.20% over a 60-month repayment period. The APR is 6.77%, including the handling fee by way of a further loan equal to 1% per annum of the loan amount. The APR is calculated using the Net Present Value Method in accordance with the Code of Banking Practice. The APRs are reference rate which include the basic interest rate and other fees and charges of a product expressed as an annualised rate (if applicable). The final approved interest rate and handling fee are subject to the loan amount and the credit assessment result. The total interest expenses are inclusive of the handling fee. The monthly repayment amount is rounded up to 1 decimal point and will be debited from the repayment account on the due date every month. The proportion of loan principal to interest in each monthly instalment amount is calculated according to the Rule of 78.
Remarks of repayment example:
The repayment example is for reference only. The APR is calculated according to the method set out in the relevant guidelines referred to in the Code of Banking Practice, and is rounded up or down to the nearest two decimal places. The total interest expense over the whole repayment period quoted above is rounded to the nearest dollar. The repayment example is for reference only. Actual interest expense amount that can be saved is determined on a case-by-case basis (it depends on various factors such as the outstanding balance of credit card that a customer currently holds, interest rate charged by the respective credit card, monthly repayment amount, repayment period as well as the amount of Debt Consolidation Loan approved by Hang Seng, loan repayment period, interest rate and monthly repayment amount).

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Important Information and Assumptions

(1) All data presented by the Hang Seng Debt Consolidation Loan Calculator (“the Calculator”) and the Debt Consolidation Solution of Hang Seng Debt Consolidation Loan are based on the information provided by customer (including outstanding items as provided and the repayment period or monthly repayment amount as chosen) and are calculated with customer’s exclusive interest rate, on the basis of general assumptions and reasonable estimates. The assumptions and calculation results, including all charts, calculations and values, are shown for illustration purpose and for reference only. All values upon calculation, except Annualised Percentage Rate (“APR”), are rounded up to the nearest integer.
(2) The APR is calculated according to the method set out in the relevant guidelines referred to in the Code of Banking Practice, and is rounded up or down to the nearest two decimal places. The APR is a reference rate which includes the basic interest rate and other fees and charges (if applicable) of a product expressed as an annualised rate. The APR is calculated based on monthly flat rate, repayment period and handling fee as stated above.
(3) Applicable for “Credit Card” or “Revolving Facilities”
- “Estimated Monthly Repayment Amount” must be greater than 4% of “Outstanding Amount” (which is rounded up to the nearest dollar) or at least HKD50 (whichever is higher).
(4) Applicable for “Personal Instalment Loan/Card Loan”
- The product of “Monthly Repayment Amount” and “Total Tenor” cannot be less than or equal to “Original Principal Amount”.
(5) Applicable for “Summary of Existing Outstanding Balance” and “Your Debt Consolidation Solution”
- Calculations are based on assumptions that customer only paid for “Estimated Monthly Repayment Amount” as inputted above for correspondent Credit Card and/or Revolving Facilities and/or “Monthly Repayment Amount” as inputted above for Personal Instalment Loan(s) and/or Card Loan(s). Extra fees and charges (if any) due to early settlement are not included in the calculation.
- The “Outstanding Amount” and “Total Interest Amount” assume the inputted Personal Instalment Loan(s) or/and Card Loan(s) is/are calculated based on “Rule of 78”. Interest and handling fee expenses of Hang Seng Debt Consolidation Solution are already included in “Total Interest Amount”.
- The monthly repayment amount, total interest amount and repayment tenor that can be reduced are determined on a case-by-case basis (it depends on various factors such as existing outstanding balance and the interest rate charged, monthly repayment amount, repayment tenor as well as the loan amount, repayment tenor, interest rate and handling fee of Debt Consolidation Loan approved by Hang Seng Bank Limited ("Hang Seng")).
- The above illustrated numbers are based on existing outstanding balance as inputted by customer only, and “Extra Cash Amount” is not taken into account.
(6) Hang Seng reserves the right to terminate the above offers at any time or to vary the same and the related terms and conditions from time to time. Please refer to the latest marketing materials for details. The approval of the loan is subject to Hang Seng’s final decision. In case of any dispute, the decision of Hang Seng shall be final.

Other Application Channels

24-hour Personal Loan Application Hotline 2812 8000
Hang Seng Personal Banking Mobile App

Useful Tools

Submit Documents Here

Terms and Conditions

(1) The promotion period commences on 25 December 2019 and expires on 24 March 2020, both dates inclusive (the “Promotion Period”). The offers are available to customers who successfully apply for and draw down Hang Seng Debt Consolidation Instalment Loan (“the Loan”) within the Promotion Period.

(2) During the Promotion Period, customers who have successfully applied for and drawn down the Loan with loan amount HKD200,000 or above and a minimum repayment period of 24 months will be entitled to up to HKD12,500 cash reward. The cash reward is calculated on the settlement of credit card and/or personal instalment loan outstanding amount (“outstanding amount”) owed to the third party(ies) and/or extra cash out amount. Customer can enjoy HKD100 cash reward for each HKD20,000 of the sum of 1) settling outstanding amount owed to the third party(ies) and/or 2) extra cash out amount (Cash reward will be rounded down to the nearest hundred dollar). Cash reward offer cannot be used to settle the outstanding amount of Hang Seng Bank Limited (“Hang Seng”).

Example of cash reward offer:

	Amount	Non Hang Seng outstanding amount?	Cash Reward amount
i) Settle Bank A / Financial Institution B outstanding amount	HKD160,000	✓
ii) Settle Hang Seng outstanding amount	HKD50,000	x
iii) Extra cash out	HKD150,000	✓
The sum of i) settling outstanding amount owed to the third party(ies) and iii) extra cash out amount	HKD310,000		HKD1,500

The cash reward will be credited to customer’s repayment account by 30 June 2020 without prior notice. Customers must have no record of default or early settlement of their instalment loans. If customers settle their instalment loans ahead of schedule after the crediting of the reward, he/ she shall return the cash reward in full to Hang Seng upon settlement of the Loan. Cash reward offer is not applicable to customer of Hang Seng Personal Loan account(s) (including Handy Cash Personal Instalment Loan, Tax Comforter Loan, Debt Consolidation Instalment Loan and Handy Cash Personal Revolving Loan) and Unsecured Overdraft Facility at the time of application. Each eligible customer could enjoy the offer once only in the Promotion Period.

(3) During the Promotion Period, customers who have successfully applied for the Loan via hangseng.com/loan, Hang Seng Personal e-Banking or Hang Seng Mobile Application and drawn down the Loan with a designated draw down amount and a minimum repayment period of 12 months will be entitled to up to HKD500 cash rebate. The applicable cash rebate for the corresponding draw down amount is shown as below.

Draw Down Amount Repayment Period Cash Rebate
HKD80,000 - HKD299,999 12 months or above HKD100
HKD300,000 - HKD799,999 HKD200
HKD800,000 or above HKD500
The cash rebate will be credited to customer’s repayment account by 30 June 2020 without prior notice. Customers must have no record of default or early settlement of their instalment loans. If customers settle their instalment loans ahead of schedule after the crediting of the rebate, he/ she shall return the rebate in full to Hang Seng upon settlement of the Loan. Cash rebate offer is not applicable to customer of Hang Seng Debt Consolidation Instalment Loan account at the time of application. Each eligible customer could enjoy the offer once only in the Promotion Period.
(4) The final approved loan amount is subject to the circumstances of individual cases.
(5) Hang Seng reserves the right to request additional income proof from individual applicants on a case-by-case basis.
(6) Customers are eligible to apply for a Top-up Loan on the repaid principal amount if a minimum of one instalment is made, the repaid principal amount is over HKD3,000 and a punctual repayment record is maintained. For the detailed terms and conditions, please call our 24-hour application hotline at 2812 8000.
(7) No person other than the customer 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 provisions of these terms and conditions.
(8) These terms and conditions are subject to prevailing regulatory requirements.
(9) These terms and conditions shall be governed by and construed in accordance with the laws of the Hong Kong Special Administrative Region.
(10) Hang Seng reserves the right to terminate the above offers at any time or to vary the same and the related terms and conditions from time to time. The approval of the Loan is subject to Hang Seng’s final decision. In case of any dispute, the decision of Hang Seng shall be final.
(11) If there is any discrepancy between the English and Chinese versions of these terms and conditions, the English version shall prevail.

Remark:

For details of the Loan and offers, interest rates, handling fees, annualised percentage rates, and related terms and conditions, please contact Hang Seng staff. The salary scheme of our representatives (included basic salary and incentive) is based on their performance of various aspects and not only the sales target achieved.
Customer is advised to pay attention on whether interest expenses would be saved by making early repayment of personal instalment loan. For enquiring the relevant fees and charges of loan account, please call our Personal Loan Service Hotline 2997 3882.
For the frequently asked questions relating to Personal Instalment Loan (e.g. Important notes of early repayment; the basis of apportionment of principal and interest in the monthly repayment, etc), please refer to our Bank’s website (Personal Banking>Loans>Personal Instalment Loan>FAQ)

Remark:
The annualised percentage rate (“APR”) ranges from 2.91% to 48%, with repayment period of 6 to 72 months. The loan application is subject to the Bank’s approval. For a loan amount of HKD200,000 with 60 months repayment period, the monthly flat rate is 0.20%( (APR 6.77%), and the total loan repayment amount is HKD235,200 (the handling fee by way of a further loan equal to 1% per annum of the loan amount). The above example is for reference only.

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

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Personal Instalment Loan Repayment Schedule Sample

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Draw Down Amount	Repayment Period	Cash Rebate
HKD80,000 - HKD299,999	12 months or above	HKD100
HKD300,000 - HKD799,999		HKD200
HKD800,000 or above		HKD500