Mortgage Asia Miles Reward
Fly sooner with Standard Chartered Mortgage Services and earn Asia Miles all the way
Having a mortgage with Standard Chartered is now more exciting than ever with the launch of our brand new Asia MilesTM rewards!
Promotion Period: 29 July 2016 – 31 December 2016
Mortgage Drawdown Subsidy1 – Up to 1%
Apply for the mortgage loan within the Promotion Period and subsequently drawdown the mortgage loan to get a subsidy of up to 1% of the drawdown amount. You can even choose to receive the subsidy in cash, Asia Miles or a combination of both2:
|For every HK$100,000 Eligible Loan Amount3||Asia Miles
Up to 1%
Here are examples of what you can earn and redeem with your Asia Miles rewards4
|Mortgage Loan Drawdown Amount||HK$3,000,000||HK$6,000,000||HK$8,000,000|
|Mortgage Drawdown Subsidy||300,000||600,000||800,000|
|Round-trip award ticket redemption||
- For each eligible mortgage loan, the maximum amount of cash rebate (including cash and other forms of incentives which can be quantifiable into cash or cash equivalents) (“Rebate”) for all prevailing offers (including this offer) must not exceed 1% of the Eligible Loan Amount (as defined in clause 4). If the sum of Rebate is greater than 1% of the Eligible Loan Amount, the Rebate for all prevailing offer(s) (including this offer), will be reduced to 1% of the Eligible Loan Amount. The actual Rebate each Subsidy Eligible Client is entitled to is subject to Eligible Loan amount, the percentage of Rebate entitlement and the amount of Rebate awarded in terms of Asia Miles (i.e. for every HK$100,000 Eligible Loan Amount will be rewarded with 10,000 Asia Miles). For the avoidance of doubt, whether the Rebate is awarded in cash or Asia Miles, it will be subject to the maximum amount of Eligible Loan Amount times the percentage of Rebate entitlement.
- Subsidy Eligible Clients can choose to receive the Subsidy in full in the form of Asia Miles or in the form of cash; or partly in the form of Asia Miles and partly in the form of cash. For the avoidance of doubt, for the amount of Eligible Loan Amount in respect of which Subsidy Eligible Clients choose to receive the Subsidy in the form of Asia Miles, Asia Miles will be awarded in lieu of cash. Payment of cash or award of Asia Miles, will be in strict compliance with the requirement set out by Hong Kong Monetary Authority. If a Subsidy Eligible Client chooses to receive full of or part of the Subsidy in the form of Asia Miles, he/she needs to indicate so and the amount of Eligible Loan Amount in respect of which he/she wishes to receive the Subsidy in the form of Asia Miles (“Asia Miles Eligible Loan Amount”, which must be in a multiple of HK$100,000) in the Letter of Confirmation (“LOC”). Such indication on the LOC will be final and binding and any subsequent change is not allowed.
- “Eligible Loan Amount” is (i) the final mortgage loan amount / top-up amount draw down (whichever applicable) or (ii) the normal permissible loan to value ceilings of the net purchase price or (iii) the normal permissible loan to value ceilings of the valuation of the property (whichever is the lowest).
- 120,000 Asia Miles which is redeemable for 1 round-trip Business Class award ticket between Hong Kong and London, and 180,000 Asia Miles which is redeemable for 1 round-trip First Class award ticket between Hong Kong and London, are quoted according to the conversion rate of Asia Miles as of 1 June 2016 and are for reference only. Please refer to Asia Miles website for actual redemption requirements and relevant terms and conditions. Any fee related to Asia Miles redemption including but not limited to fuel surcharge, tax and other fees are to be borne by the cardholders.
- Terms and Conditions of Asia Miles apply for redemption and/or use of Asia Miles. For details, please visit www.asiamiles.com. The Bank is not obliged to notify you of any changes or latest announcements of Asia Miles.
- Mortgage interest rate from the Bank’s Hong Kong Dollar Prime Rate minus 3.1% p.a. or 1-month Hong Kong Interbank Offered Rate plus 1.7% p.a. Rate quoted is indicative information only.
Terms and Conditions
All the above offers are subject to relevant terms and conditions.