Debt Consolidation Instalment Loan

The above example is for reference only and calculated based on a monthly flat rate of 0.20% over a 72-month repayment period with all fees and charges waived, the Annualized Percentage Rate (“APR”) is 4.63% (APR would be 6.77% if 1% handling fee were charged). The final approved interest rate, loan amount and handling fee are subject to the circumstances of individual cases and credit assessment result.

APRs are calculated using the Net Present Value Method in accordance with the Code of Banking Practice, and is rounded up or down to the nearest 2 decimal places. The above 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 monthly repayment amount is rounded up to 1 decimal place 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.

The total interest expense over the whole repayment period quoted above is rounded to 2 decimal places.

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).

The above Credit Card Minimum Payment calculation is based on Hang Seng Credit Card. For details of assumptions and calculation methodology adopted, please refer to the Credit Card Balance Repayment Calculator.