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Quick cash for clients working in industries impacted the most by the economic downturn and the novel coronavirus outbreak

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Quick cash for clients working in industries impacted the most by the economic downturn and the novel coronavirus outbreak

Relief Loan for Personal Clients

Up to HKD30,000 quick cash for our existing clients working in the retail, tourism & hospitality, restaurant and airlines industries.

Features of Relief Loan for Personal Clients

Annualised Percentage Rate of

4.72% to 4.87%¹

Handling fee

0%

Loan amount up to

HKD30,000

Choice of loan tenor

12 or 24 months

Cooling-off Period

7-Days Cooling-off Period
- Early redemption fees and charges waiver

Application period

from 24 February to 30 April 2020
REPAYMENT TABLE
LOAN AMOUNT (HKD) $5,000 – $30,000
LOAN TENOR 12 MONTHS 24 MONTHS
Monthly Flat Rate2 0.2100% 0.2100%
Monthly Repayment for every HKD1,000 loan amount (HKD) $85.43 $43.77
Annualised Percentage Rate1 4.72% 4.87%

Remarks

  1. The Annualised Percentage Rates (“APR”) are 4.72% and 4.87% for clients with loan amount of HKD$30,000 and tenor of 12 months and 24 months respectively. APRs are reference rates which include the basic interest rate and other applicable fees and charges of a product expressed as an annualised rate. The Bank reserves the right to determine the applicable interest rate and handling fee, and to approve a loan application, which is to be considered on a case-by-case basis in accordance with the client’s credit records and other relevant factors as the Bank may consider in its absolute discretion. All offers are subject to Terms and Conditions.
  2. The Monthly Flat Rate shown above was for reference only.

The Bank reserves the right to determine the applicable interest rate and handling fee and acceptance of a loan application, which is to be considered on a case-by-case basis in accordance with the client’s credit records and other relevant factors.

Example: A customer borrows a 12-month loan of HKD30,000 at a monthly flat rate of 0.2100% (APR 4.72%), total loan repayment amount is HKD30,756.

The operating hours of our Loan Application Hotline is from 9am – 9pm on Monday to Friday and 9am – 8pm on Saturday and Sunday.

Eligibility & Documents

Eligibility

  • Existing clients
  • Permanent Hong Kong resident aged 20 or above
  • Minimum monthly income of HKD5,000 or above
  • Working in the retail, tourism & hospitality, restaurant and airlines industries

Required Documents

  • Your Hong Kong Permanent Identity Card
  • Your latest residential address proof showing your name
  • Your latest 1-month salary slip OR Bank statement/passbook showing your name, account number and salary entries

Please click here for the FAQs.

Terms and Conditions apply.

To borrow or not to borrow? Borrow only if you can repay!

Terms and Conditions

  1. During the period from 24 February to 30 April 2020 (the “Application Period”), existing clients who (i) are permanent Hong Kong residents aged 20 or above, (ii) have monthly income of HK$5,000 or above, and (iii) work in the retail, tourism and hospitality, restaurant and airlines industries may apply for a Relief Loan (the “Loan”) for up to HK$30,000 with tenor of 12 or 24 months at Annualised Percentage Rate of 4.72% and 4.87% respectively  with no handling fee.
  2. Standard Chartered Bank (Hong Kong) Limited (the “Bank”) reserves the right to determine the applicable interest rate and handling fee, and to approve a loan application, which is to be considered on a case-by-case basis in accordance with the client’s credit records and other relevant factors as the Bank deems fit in its absolute discretion.
  3. Subject to the approval of the Bank, 7-days Cooling-off Period (and waiver on early redemption fees and charges) may be offered on application by clients who have successfully applied for and drawdown the Loan and wish to early redeem the Loan in full within 7 calendar days of the drawdown date.
  4. Any application for the 7-days Cooling-off Period must be made by the relevant client in person at any of the Bank’s 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 the application for the 7-days Cooling-off Period, the Bank will waive the handling fee, the early redemption fee (2.5% of the outstanding balance) and the first month’s interest payable by the relevant client under the Loan.
  5. Each client may only enjoy the 7-days Cooling-off Period once during the Application Period.
  6. Terms and conditions relating to Standard Chartered Personal Instalment Loan also apply.  Please refer to the Requirements and Terms on the application form of Standard Chartered Relief Loan for Personal Clients (Personal Instalment Loan) for details.
  7. The Bank reserves the right to amend any of these 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.
  8. In case of discrepancy between the English and Chinese versions of these terms and conditions, the English version shall prevail.

Summary of Terms and conditions for Standard Chartered Personal Instalment Loan