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Personalised interest rate, Monthly Flat Rate as low as 0.164%1

Illustration:
Outstanding balance of credit card2
Standard Chartered Personal Instalment Loan Debt Consolidation Program3
Loan amount HKD200,000 HKD200,000
Repayment period (month) 397 72 (Repayment period ↓82%)
Average monthly repayment HKD5,283 HKD3,391 (Monthly repayment ↓36%)
Total interest expense HKD487,206 HKD44,179 (Interest saved ↓91%)
The above table is for illustration purposes only.

Remarks :

  1. The Monthly Flat Rate shown above is for reference and only applicable to selected clients who are also holding a mortgage loan with the Bank. The actual monthly flat rate will be subject to the Bank’s approval on a case-by-case basis. The Annualised Percentage Rate (“APR”) is 3.68% (based on the loan amount of HKD700,000 with tenor of 12-month and the actual Monthly Flat Rate). For client who has applied for tenor 24-month with loan amount of HKD700,000, will be subject to a monthly flat rate of 0.171% and the corresponding APR is 3.96%. For client who has applied for tenor 72-month with loan amount of HKD700,000, will be subject to a monthly flat rate of 0.193% and the corresponding APR is 4.48%.The Monthly Flat Rate shown above was rounded to 3 decimal places for reference. An APR is a reference rate which includes the basic interest rate and other applicable fees and charges of a product expressed as an annualised rate.
  2. The above illustration is calculated based on an annual interest rate of 30% charged by general credit card on a monthly repayment of 1% of the credit card outstanding balance or HKD50 (whichever is higher) over a 397-month repayment period. The average monthly repayment amount quoted above is calculated based on the first 3-month repayment amount and is rounded to the nearest dollar. The Annualised Percentage Rate (“APR”) is 31.73%. The total interest expense over the whole repayment period quoted above is rounded to the nearest dollar.
  3. The above illustration is calculated based on a monthly flat rate of 0.307% with 72-month loan repayment period for a Standard Chartered Personal Instalment Debt Consolidation Program (“Program Loan”). The APR is 7.02% (rounded up or down to the nearest two decimal places). An APR is a reference rate which includes the basic interest rate and other applicable fees and charges of a product expressed as an annualised rate. Please note that the actual monthly flat rate, APR, monthly repayment amount and total interest expense applicable will be subject to Standard Chartered Bank (Hong Kong) Limited (the “Bank”) final approval of the Program Loan for individual client. The average monthly repayment amount and the total interest expense over the whole repayment period quoted above are rounded to the nearest dollar.