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Personal Loan Terms & Conditions

You need to read this document
It sets out specific terms and conditions on which we agree to provide you with the products and services you applied here. You must read it in
conjunction with our Client Terms, and the applicable documents referred to in Part A of Client Terms (including the Personal Loans/Personal
Line of Credit/Overdraft Terms and the product brochure, Important Notes and promotional terms (if applicable)) and any other documents forming our
banking agreement. The banking agreement is available to you at any of our branches or our website at
If there is any inconsistency between the approval and any other part of our banking agreement, then the terms in the approval prevails. These terms
do not apply to any existing product(s) or service(s) you have with us to the extent that they are subject to separate terms and conditions.


Meaning of words
Other than the defined terms here or under the product brochure or promotional terms (if applicable), you also need to refer to the other documents that form our banking agreement which define key words used below. For instance, please note:-


you means the person named as the “applicant” in the application.


we (without limiting the meaning defined in Client Terms) or Bank means Standard Chartered Bank (Hong Kong) Limited for this application.
Important Notes
  1. To be eligible for this personal instalment loan, your annual income has to be HK$96,000 or above.
  2. 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.
  3. 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.
  4. 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.
  5. We may set off any amount we owe you against any amount you owe us (whether or not the obligation is matured or contingent).
  6. 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 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.
  7. 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.
  8. If there is any inconstancy of conflict between the English and the Chinese versions, the English version shall prevail.
Extract of Personal Loan / Personal Line of Credit/Overdraft Terms


Part A – Personal Instalment Loans
1. 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.


2. The instalment loan

We must provide the loan
2.1 If we issue an approval, we agree to provide an instalment loan up to the limit. The limit may be different to the limit you applied for.


2.2 You must use the instalment loan only for the purpose set out in the application or as otherwise approved by us.


Top up loan
2.3 If you ask, we may agree to provide a top up loan on terms we notify.
2.4 You may only make one request for a top up loan on any one business day.


How we provide the instalment loan
2.5 Usually we provide the instalment loan by depositing it into the repayment account.
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.
2.6 Fees and charges that are applicable on the instalment loan may be deducted from the instalment loan before depositing it into the repayment
. Please contact us for details of any applicable fees.

3. Interest, fees and charges

3.1 You must pay interest on the instalment loan monthly in arrears at the rate set out in the approval or otherwise in our banking agreement or any other
rate we determine from time to time.
3.2 Interest is payable on the dates set out in the approval, statements or elsewhere in our banking agreement.
3.3 Interest is calculated on a monthly basis.


Fees and charges
3.4 The fees and charges for the instalment loan are set out in the tariff sheet or elsewhere in our banking agreement. Please contact us for further
3.5 We may charge a late payment fee for any overdue payment as set out in the tariff sheet or elsewhere in our banking agreement. Please
contact us for further details.



Repayment by instalments
4.1 You must repay the instalment loan in instalments. We notify you the amount of the instalment and each instalment payment date.
4.2 Any balance owing for the account for the instalment loan (after payment of all instalments) must be repaid on the final payment date we notify
4.3 The instalments are payable even if you do not withdraw any of the instalment loan funds we deposit in the repayment account.
4.4 If the amount is due on a day which is not a business day, you must pay it on or before the next business day.
4.5 If we vary the interest rate on the instalment loan, we may vary the instalment amount and the number of instalments.


Methods of repayment
4.6 We advise you of the manner in which you must repay the instalments. For example, we may ask you to designate an account for repayment
by direct debit and give us documents to facilitate direct debit from that account.
4.7 You must comply with our usual requirements for the relevant payment method, including any set out in this clause.
4.8 We start deducting instalments from your repayment account one month after drawdown of the instalment loan.
4.9 You must ensure that any payment instrument or payment instruction is honoured. For example, you must:
      1. ensure that you have sufficient funds in the account to be debited (including the repayment account);
      2. not stop cheques;
      3. 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.
Automatic payment from repayment account with another institution
4.10 If we require you to repay by automatic payment and the repayment account is with another financial institution you must:
      1. 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
      2. provide us with any authority we require to enable us to debit the instalment amount, from the repayment account.
Payment in full if we ask
4.11 Despite any other term of our banking agreement, at any time we may demand immediate payment of the instalment loan in full, together with
all accrued but unpaid interest, fees and charges in connection with the instalment loan.


What happens if you do not pay
4.12 If you do not make an instalment on or before the relevant due date:
      1. the instalment loan plus all accrued but unpaid interest plus any other sum due to us is immediately due and payable; and
      2. we will charge you a late payment fee as set out in the tariff sheet or elsewhere in our banking agreement.
How we apply payments
4.13 We may use amounts we receive from any of your instalments to pay interest, fee and charges and insurance premium (if any) rather than to reduce the principal amount you owe to us or to pay amounts you owe us in any order we choose. For example, we may allocate a high proportion of any one or more of your instalments to interest rather than to the principal amount you owe us.

5. Prepayment

You may prepay all (but not part) of the instalment loan if:

  1. you give us reasonable notice in writing; and
  2. 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.

We may also require you to pay us an amount equal to one month’s interest on the instalment loan.

6. Cancellation

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.

You may only cancel the instalment loan before the drawdown of an instalment loan and within the period we specify. However, we may charge you a cancellation fee (details of which are available by contacting us).


7. 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:

  1. loan approval status (approved, pending or rejected); and
  2. if the loan is approved, the exact amount approved, the interest rate, the number of instalments, the final payment date and the drawdown date.
Extract of Service Charges*
1. Late Payment Charge
  • HK$1,000 per month
  • Payable when you do not repay a monthly instalment on or before the relevant due date
2 Handling Fee
  • 0%
3. Early Redemption Penalty
  • 2.5% of initial loan amount
  • Payable when you repay the loan in full early

*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