^ Calculated on the basis of net mortgage interest expenses by deducting deposit interest from mortgage interest.
* The calculation above assumes the use of the HKD Savings Account of IPS Account (including Prestige Banking, Preferred Banking and "Integrated Account") to earn preferential savings interest rate. The IPS HKD Savings Account offers a preferential interest rate for an amount of up to 50% of the mortgage loan outstanding principal ("Available Threshold"). From instalment no. of , the deposit will exceed the Available Threshold and the customer enjoys a Tier Savings Deposit Rate as quoted by Hang Seng Bank Limited from time to time. The above general savings interest rate as stated in the example is for reference only.
Moreover, you can fully repay the mortgage loan at instalment no. of
by withdrawing the total amount of savings in your "Mortgage-Link" IPS HKD Savings Account. In turn, you will shorten loan tenor by& months.
Under the following circumstances, the preferential interest rate for the IPS HKD Savings Account will be ceased and the Hong Kong Dollar Tier Savings Deposit Rates as quoted by Hang Seng Bank from time to time shall apply, depending on the total credit balance of the IPS HKD Savings Account: 1. Deposits exceed the Available Threshold 2. Any default in mortgage payment 3. IPS HKD Savings Account ceases to be the mortgage loan repayment account. 4. Full repayment of mortgage loan
The above-mentioned loan terms and savings interest rate are for reference only. The actual loan terms and savings interest rate will be specified in the Facility Letter to be signed by the customer.
Interest is calculated on a day-to-day basis and assumes repayment starts from January 1st.