Mortgage $aver matches your deposit interest rate to your mortgage interest rate, maximizing your interest savings
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Suppose you would like to borrow a loan amount of HKD4,000,000
| Mortgage loan amount | HKD4,000,000 |
| Mortgage loan tenor | 20 years |
| Mortgage loan interest rate | 3.25% p.a. |
| Initial deposit | HKD120,000 |
| Monthly savings | HKD1,500 |
|
Mortgage $aver
|
Your current conventional mortgage plan
|
|
|---|---|---|
| (a) Original mortgage loan interest expenses | HKD1,444,820 | HKD1,444,820 |
| (b) Deposit interest earned | HKD168,603 (Deposit annual interest rate equals your existing mortgage loan interest rate) |
HKD60 (Based on HKD deposit interest rate of 0.001% p.a.) |
| (c) Mortgage interest expenses saved as a result of reducing the mortgage loan outstanding principal with deposit interest accrued from savings |
HKD26,619 | NIL |
| Net interest expenses (a-b-c) | HKD1,249,598 (Save 14%) |
HKD1,444,760 |
The above example is based on the assumptions below and is for reference only.
