DECORATION LOAN

Step 1: Choose the loan product
First of all, understand the details of different loan products and then select one that fits your needs. If you are unsure of the loan types and related charges, our relationship officer can assist to evaluate your needs, introduce different types of loan products to you and help you choose the most suitable product according to your needs.

Step 2: Application and documents submission
Complete the application form and submit all required documents. We will assess your application based on the provided information, your financial status and repayment ability.

Step 3: Application Assessment and Approval
Having collected all necessary documents, our relationship officer will contact and inform you the application result within 1 to 2 working days. For successfully approved application, we will notify you the loan drawdown process. If requested, we can also offer instant approval service, allowing same day document submission, loan approval and drawdown.

Step 4: Loan drawdown
Upon completion of loan confirmation process, the fund will be disbursed to your designated bank account through bank transfer or cashier order. We can also help you settle your credit card debts and outstanding instalments at other banks or financial institutions.

Step 5: Monthly repayment
For your convenience, we will set up an auto-pay arrangement with your designated bank account.

In general, our relationship officer will contact and inform you the approval result within 1 to 2 working days after collecting all necessary documents. For successfully approved application, we will notify you the loan drawdown process. If requested, we can also offer instant approval service, allowing same day document submission, loan approval and drawdown.

Generally speaking, the earlier you make the early repayment, the more outstanding interest expenses are likely to be saved. However, the borrowers should take into consideration of the early settlement penalty involved when making the early repayment. As the calculations of early settlement penalty are different for different loan types, the loan terms and conditions should be read carefully before deciding whether to make the early repayment. In general, as the outstanding principal is larger in the earlier instalments of the loan, the interest proportion in the monthly instalment will be higher in the earlier instalments. In other words, the interest proportion will be smaller in monthly instalment in the later instalments. If the customers decide to make early repayment in the later instalments of the loan, the loss due to early settlement penalty may outweigh the gain due to interest expenses saving of the outstanding instalments. Borrowers are advised to check and compare the total amount involved in the early repayment and the amount of outstanding interest before deciding to make the early repayment. To illustrate the calculation of early settlement amount and determine whether interest expenses can be saved by making early repayment of personal instalment loan, please refer to the below corresponding examples according to the loan types of the loan accounts.

Applicable to general unsecured loan products

1. Early Settlement Calculation
2. Repayment Schedule

Yes, you can. When assessing applications, we treat each application as an individual case. In addition to your monthly income, we will also consider other factors, such as applicant’s credit information and previous loan repayment records etc.

Yes, you are still eligible to apply for a loan. When assessing applications, we treat each application as an individual case. In addition to your credit history, we will also make reference to other factors, such as your employment status, monthly income and repayment ability etc.

No, you don’t. We accept you to set up auto-pay arrangement with any banks in Hong Kong for repaying monthly instalments.