HK banks offer tax loans at below 2pc interest rate

Business | 25 Oct 2018 5:52 pm

The Hongkong and Shanghai Banking Corporation launched today personal tax loan offers at an interest rate of 1.8 percent for a loan of more than HK$1.5 million with a 12-month repayment period.

Borrowers may seek up to HK$3 million, or 12 times of the monthly salary, whichever is lower.

HSBC said income proof and tax demand note is not needed if the customer has maintained an auto payroll account with HSBC for the last one month.

The loan is also available tho those who receive irregular income, such as part-time, or on a profit-sharing basis.

Dah Sing Bank (2356) also launched a tax loan offer at 1.68 percent interest for a maximum of HK$1 million, or 10 times the monthly salary, for a repayment period of 24-month.

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