- 5-min preliminary approval remarks
Clients must apply the Standard Chartered Personal Instalment Loan application via phone or at any of our branches of Standard Chartered Bank (HK) Limited (the "Bank") with all the required information in person during our service hours (Monday-Friday: 9am-5pm, except Saturday and public holidays). Processing will start only after all the required information has been successfully input into our system, and shall be subject to the actual circumstances of each individual case.
- 1-hour loan disbursement remarks
Clients must submit the Standard Chartered Personal Instalment Loan application with all the required information during our service hours (Monday-Friday: 9am-5pm, except Saturday and public holidays). Processing will start only after all the required information has been successfully input into our system, and shall be subject to the actual circumstances of each individual case. 1-hour loan disbursement service will be provided upon clients’ requests. Clients have to provide all required documents and have valid and existing accounts with the Bank to be assigned for fund disbursement. Processing will be started only after the loan is approved, and shall be subject to the actual circumstances of each individual case.
- Terms & Conditions for 7-day Service Pledge
- 7-day Service Pledge may be applied by clients who have successfully applied for and drawdown a Standard Chartered Personal Instalment Loan ("Loan") but wish to early redeem the Loan in full within 7 calendar days of the drawdown date.
- Any application for the 7-day Service Pledge has to be made by the relevant client in person at any of our branches within 7 calendar days of the Loan drawdown date. The relevant client must also bring along the Bank’s approval notice in respect of the Loan and settle the Loan in full to the Bank’s satisfaction. Subject to the Bank’s approval of such application, the Bank will waive the handling fee, the early redemption penalty (2.5% of the total redeemed amount) and the first month’s interest payable by the relevant client under the Loan. Clients who have enjoyed this 7-day Service Pledge is not entitled to the Interest Rebate Offer.
- The 7-day Service Pledge can only be enjoyed by each client once during the promotion period.
- Terms & Conditions of Interest Rebate Offer
- The Interest Rebate Offer is applicable to clients who have successfully applied for and drawn down a Standard Chartered Personal Instalment Loan in the amount of HK$200,000 or above, with a tenor of at least 48 months and subject to a handling fee of 1.5% (per annum) ("Instalment Loan").
- The number of months eligible for Interest Rebate Offer shall depend on the tenor of the Instalment Loan of the respective eligible clients, as set out in the table below:
- Rebate amount of Interest Rebate Offer entitled by each eligible client will be calculated with reference to the interest rate pertaining to the Instalment Loan as follows:
Approved loan amount x Interest Rate (Monthly Flat Rate) x Number of months eligible for Interest Rebate Offer
- The Interest Rebate Offer will be fulfilled by way of cash rebate to be credited to the repayment account of the respective eligible client at the second month after the Instalment Loan drawdown.
For example, if the client drawdowns the Instalment Loan on 3 February 2016, the cash rebate will be credited to the repayment account on or before 30 April 2016.
- Notwithstanding the above, the Interest Rebate Offer will not be credited or otherwise awarded to eligible clients if the loan accounts of eligible clients have become delinquent or if clients have any payment due and payable to the Bank or unsatisfactory credit history.
- If the eligible clients have early redeemed the Instalment Loan after the Interest Rebate Offer has been credited to the clients, the Bank reserves the right to debit an amount equivalent to such Interest Rebate Offer together with any cost incurred by the Bank as a result of such early redemption or debiting from the account of the relevant client at the early redemption date of the Instalment Loan without any prior notice to the relevant client.
Loan Tenor Number of months eligible for Interest Rebate Offer 48 months 6 60 months 12
Monthly Repayment Table^
|12 Months||24 Months||36 Months||48 Months||60 Months|
|$5,000 - $19,999||Interest Rate (Monthly Flat Rate)+||0.380%||0.370%||0.370%||0.373%||0.376%|
|Monthly Repayment Amount (HK$)#||$87.14||$45.37||$31.49||$24.56||$20.43|
|Annualised Percentage Rate*||(11.76%)||(11.97%)||(12.10%)||(12.21%)||(12.32%)|
|$20,000 - $49,999||Interest Rate (Monthly Flat Rate)+||0.240%||0.233%||0.232%||0.232%||0.233%|
|Monthly Repayment Amount (HK$)#||$85.74||$44.00||$30.10||$23.16||$19.00|
|Annualised Percentage Rate*||(8.42%)||(8.60%)||(8.71%)||(8.80%)||(8.89%)|
|$50,000 - $199,999||Interest Rate (Monthly Flat Rate)+||0.190%||0.184%||0.183%||0.183%||0.183%|
|Monthly Repayment Amount (HK$)#||$85.24||$43.51||$29.61||$22.67||$18.50|
|Annualised Percentage Rate*||(7.24%)||(7.41%)||(7.52%)||(7.60%)||(7.67%)|
|Interest Rebate||6 Months||12 Months|
|$200,000 - $499,999||Interest Rate (Monthly Flat Rate)+||0.140%||0.135%||0.134%||0.134%||0.134%|
|Monthly Repayment Amount (HK$)#||$84.74||$43.02||$29.12||$22.18||$18.01|
|Annualised Percentage Rate*||(6.07%)||(6.24%)||(6.33%)||(5.95%)||(5.72%)|
|$500,000 - $999,999||Interest Rate (Monthly Flat Rate)+||0.040%||0.038%||0.038%||0.038%||0.038%|
|Monthly Repayment Amount (HK$)#||$83.74||$42.06||$28.16||$21.22||$17.05|
|Annualised Percentage Rate*||(3.75%)||(3.90%)||(3.98%)||(3.92%)||(3.89%)|
|$1,000,000 or above||Interest Rate (Monthly Flat Rate)+||0.010%||0.021%||0.033%||0.033%||0.036%|
|Monthly Repayment Amount (HK$)#||$83.44||$41.88||$28.11||$21.17||$17.03|
|Annualised Percentage Rate*||(3.06%)||(3.48%)||(3.86%)||(3.81%)||(3.86%)|
|Existing Priority Banking / Payroll Services clients|
|$1,000,000 or above||Interest Rate (Monthly Flat Rate)+||0.032%||0.001%||0.013%||0.026%||0.027%|
|Monthly Repayment Amount (HK$)#||$83.66||$41.68||$27.91||$21.10||$16.94|
|Annualised Percentage Rate*||(2.60%)||(3.01%)||(3.37%)||(3.67%)||(3.68%)|
- Clients who have submitted all required documents within 7 calendar days upon application and successfully apply for and drawdown the Loan via online on or before 31 March 2016 are entitled to designated cash coupon of up to HK$500 ("Coupon") and Preferential Interest Rate. The eligibility for the Coupon and Preferential Interest Rate shall depend on the Loan amount drawn down and loan tenor, the details are set out in table below:
Loan Amount (HK$) Coupon for submission of all required documents within 7 calendar days (HK$) Coupon for successfully drawdown the Loan on or before 31 March 2016 (HK$) Total Coupon (HK$) Applicable to Loan Tenor 12 and 24 months $200,000 or above $100 $100 $200 Applicable to Loan Tenor 36, 48 and 60 months $50,000 - $99,999 $100 $100 $200 $100,000 - $199,999 $100 $200 $300 $200,000 or above $100 $400 $500
- To be eligible for the Coupon, eligible client's Loan account must be existing and valid with no past due or unsatisfactory credit history as determined by the Bank in its sole discretion in order to enjoy the Coupon.
- The redemption letter of the Coupon will be sent out by mail to the respective eligible client’s correspondence address as provided in the online application form at the second month after the Loan drawdown.
|Online Exclusive - Preferential Interest Rate Table|
|Loan Amount^ (HK$)|
|12 Months||24 Months||36 Months||48 Months||60 Months|
|$50,000 - $99,999||Annualised Percentage Rate▲||5.52%||5.68%||5.68%||5.67%||5.63%|
|Monthly Flat Rate||0.1162%||0.1121%||0.1075%||0.1038%||0.0999%|
|Monthly Instalment Amount(HK$)||4,225||2,139||1,443||1,094||883|
|$100,000 - $199,999||Annualised Percentage Rate▲||4.78%||4.92%||4.93%||4.93%||4.90%|
|Monthly Flat Rate||0.0845%||0.0808%||0.0768%||0.0740%||0.0700%|
|Monthly Instalment Amount(HK$)||8,418||4,247||2,855||2,157||1,737|
- The Online Application Service Pledge ("Service Pledge") is only applicable to clients who apply for any Standard Chartered Personal Loans (including Personal Instalment Loan and Debt Consolidation Program) by successfully completing all the required data and submitting the online application forms via the Bank website www.sc.com/hk and providing a valid mobile phone number.
- Under the Service Pledge, for any online applications received before 12:00 noon of any business days, a designated staff of the Bank will follow up the applications with clients by calling the contact phone number provided by the clients on the application within the same day before 5:00 p.m. If the online applications are received after 12:00 noon or during non business days, the designated staff of the Bank will follow up the applications with clients on the next business day before 2:00 p.m. If clients cannot be contacted by phone number(s) provided in the application within the above mentioned time, a notification SMS will be sent to clients’ mobile number as provided in the online application forms within the same day. The language of notification SMS will be subject to the language of clients’ by completing online application forms.
- In any circumstances where the Bank fails to contact client by phone and fails to send out SMS to clients according to requirement stated in point 2 above, a HK$100 Supermarket Cash Coupon ("Coupon") will be offered to the client. The Coupon will be sent by mail to clients' correspondence address as provided in the online application form, on or before 31 May 2016. To be eligible for this Coupon, the loan applications should not be cancelled by the clients before the Bank's final decision.
- Whether the SMS successfully reach the relevant clients will be subject to the record of SMS network provider of the Bank.
- The Service Pledge is not available to those online applications with invalid / no correspondence address provided.
|The Bank received online applications||Bank Staff made follow-up calls|
|Before 12:00 noon on any business days||Same business day before 5:00 p.m.|
|After 12:00 noon on any business days or during non business days||Next business day before 2:00 p.m.|
- Online Offers consist of offers in sections A - F above.
- Unless otherwise specified, the Online Exclusive Offers cannot be used in conjunction with any other promotional offers.
- The Coupon (as defined under Section E and F) is not transferable, returnable or redeemable for cash. The use of the Coupon is subject to the terms and conditions as stipulated by the supplier (if applicable).
- Clients understand and accept that the Bank is not the supplier of the products/services purchased from the merchant (including the Coupon). The Bank shall bear no liability relating to any aspect of the products/services/coupon, including without limitation, their quality, the supply, the descriptions of goods and/or services provided by the merchant, any false trade description, misrepresentation, mis-statement, omission, unauthorised representation, unfair trade practices or conduct in connection the products / services / coupon provided by the merchant, its employees, officers or agents.
- The Bank reserves the right to amend or terminate the above offers and any of the above terms and conditions from time to time. For any and all matters or disputes regarding the above, the Bank's decision shall be final and binding.
- In case of discrepancy between the English and Chinese versions of these terms and conditions, the English version shall prevail.
- To be eligible for this personal instalment loan, your annual income has to be HK$60,000 or above.
- We reserve the right to determine the loan amount, limit, monthly repayment amount, interest rate or any other offer in respect of the loan applied, or to decline your application in its entirety without giving you any reason for doing so. If your application is declined, no contractual relationship arises between us and you in respect of any product or service requested in your application.
- In case if your application is approved, the pricing (such as interest rate and handling fee) will be offered to you based on the credit record you submit to us upon your application. We reserve the right to modify such pricing offered to you by giving you 30 days advance notice based on our credit assessment from time to time including, but not only limited to, your repayment record, credit bureau grading and our prevailing credit policy.
- We may have obtained a credit report on the client and any of its sureties from a credit reference agency in considering any application for credit. In the event the client or any of its sureties wishes to access the credit report, we will advise the contact details of the relevant credit reference agency.
- We may set off any amount we owe you against any amount you owe us (whether or not the obligation is matured or contingent).
- Without limiting the above, our “Notice to Customers and Other Individuals relating to the Personal Data (Privacy) Ordinance and the Code of Practice on Consumer Credit Data” (“Notice”, which is available to you at any of our branches and/or on our website at www.sc.com/hk) also forms part of the banking agreement. We will be using the information you provide to us and for such purposes as set out in the Notice.
- We reserve the right to amend the contents and all the important notes or terms and conditions here at any time. In case of disputes, our decision shall be final.
- If there is any inconstancy of conflict between the English and the Chinese versions, the English version shall prevail.
- Choosing the account that is right for you
We can structure your personal instalment loan to suit your personal banking needs. If you need us to explain any of the features of, or the terms applying to, any personal instalment loan products, please contact us.
- The instalment loan
- Interest, fees and charges
- ensure that you have sufficient funds in the account to be debited (including the repayment account);
- not stop cheques;
- not cancel or vary any payment arrangement (unless we ask you to do so to reflect a change in the instalments) or close or change the account on which cheques are drawn.
- organise a payment arrangement with the other financial institution under which an amount equal to each instalment amount is debited from the repayment account and paid to us on each instalment payment date and give us satisfactory evidence that this is in place; or
- provide us with any authority we require to enable us to debit the instalment amount, from the repayment account.
- the instalment loan plus all accrued but unpaid interest plus any other sum due to us is immediately due and payable; and
- we will charge you a late payment fee as set out in the tariff sheet or elsewhere in our banking agreement.
You may prepay all (but not part) of the instalment loan if:
- you give us reasonable notice in writing; and
- when you prepay, you also pay all accrued but unpaid interest, fees and charges in connection with the instalment loan (including any early settlement fees as set out in the tariff sheet or elsewhere in our banking agreement). Details of these fees and charges are available by contacting us.
Our Client Terms set out when you and we may end your use of any product and what you need to do if that happens. This includes immediate payment of the balance owing for the account for the instalment loan. This clause sets out additional circumstances in which you or we may cancel the instalment loan.
- Telephone enquiry
When we receive an enquiry by telephone, we may verify an enquirer's identity by asking them to provide your Hong Kong Identity Card number (or passport number if you do not have a Hong Kong Identity Card), the loan amount applied for and any other information we see fit. If we genuinely believe the enquirer to be you, you authorise us to disclose the following data to the enquirer:
- loan approval status (approved, pending or rejected); and
- if the loan is approved, the exact amount approved, the interest rate, the number of instalments, the final payment date and the drawdown date.
If we provide the instalment loan by cheque, the cheque is only valid for the period we specify and instalments are payable even if the cheque is not cashed.
- HK$1,000 per month
- Payable when you do not repay a monthly instalment on or before the relevant due date
- standard rate ranging from 1-2% p.a. on the drawdown amount (The final approved rate will be considered on a case-by-case basis. For details, please refer to the letter of the loan approval)
- To be deducted from the drawdown amount before depositing it to your repayment account
- 2.5% of the total redeemed amount
- Payable when you repay the loan in full early
|1.||Late Payment Charge|
|3.||Early Redemption Penalty|
*For details of the fees and charges as shown on the tariff sheet, please contact any of our branches and /or visit our website at www.sc.com/hk.