1. The Annualised Percentage Rate (“APR”) is a reference rate which includes the basic interest rates and other applicable fees and charges of a product expressed as an annualised rate. APR is calculated based on a monthly flat rate of 0.040%, 12-month repayment period and a loan amount of HK$500,000.
2. Client who draws down a Tax Season’s Personal Instalment Loan (“Loan”) from 2 November 2017 to 31 March 2018 (""promotion period"") and then successfully obtains another personal tax loan (“Loan for Comparison”) with a lower annualised interest rate (“APR”) from a licensed bank in Hong Kong can apply for the “Lower Cost Guarantee” (“Guarantee”). The principal amount and repayment period of Loan for Comparison is the same as the Loan. It is granted to one borrower only and the name and identity number of the borrower is the same as the Eligible Client. It is not offered only to staff or members of designated groups. Client must apply for the Guarantee within 21 working days from the date of Loan drawdown via designated hotline 3408 1628 and submit a copy of the written confirmation of the Loan for Comparison. Client can only make one successful application of the Guarantee for each Loan. The Bank will determine the Eligible Client’s eligibility to enjoy the Guarantee based on the written confirmation of the Loan for Comparison at its sole and absolute discretion. Eligible Client will be notified of the result within 14 working days after submission of the written confirmation of the Loan for Comparison. If the application for the Guarantee is successful, the Bank will recalculate the difference in total expense payable of the Loan based on an APR equivalent to 90% of the APR of the Loan for Comparison according to the Bank’s internal calculation method. The difference in total expense payable will be given in cash rebate format and will be credited to the Eligible Client’s designated repayment account during the second month after the date of Loan drawdown.
3. Clients who successfully apply for and drawdown the Loan via online during the Promotion Period with the loan amount HK$50,000 or above are entitled to Cash Coupon of HK$200 ("Coupon"), provided that the client’s Loan account is valid and with no past due record/unsatisfactory credit history at the time of redemption of the Coupon.
- The redemption letter of the Coupon will be sent out by mail to the Customer’s correspondence address during the second month after the date of Loan drawdown.
- Customers understand and accept that the Bank is not the supplier of the products / services purchased from the merchant. The Bank shall bear no liability relating to any aspect of the products / services, 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 provided by the merchant, its employees, officers or agents.
4. Notwithstanding the clause regarding prepayment set out in the Clients Terms and the applicable documents referred to in Part A of the Bank’s Client Terms (including Personal Loan/Personal Line of Credit/Overdraft Terms, the product brochure, Important Notes and these promotional terms and any other relevant documents forming the banking agreement), any prepayment fee incurred in this promotion will be waived.
5. New Client Offer is also subject to new fund/auto-payroll requirment, please refer to the terms and conditions for full details.
6. In case of discrepancy between the English and Chinese versions of the terms and conditions for the Loan, the English version shall prevail.