Balance Transfer Program
Consolidate credit card debts and loans
Consolidate credit card debts and loans to save on considerable interest expense and lower your total repayment amount, as well as obtaining extra cash to regain financial freedom.
Key Facts Statement (KFS) for Instalment Loan
Loan Features
Loan amount up to HK$1.2 million or 21 times your monthly salary (whichever is lower)
Handling fee waiver
Repayment tenor up to 84 months
Current Credit Card Outstanding * | CCB (Asia) Balance Transfer Program ^ | ||
---|---|---|---|
Loan amount | HK$500,000 | HK$500,000 | |
Monthly repayment amount | HK$24,076 | HK$22,084 | Monthly repayment amount reduced by 8% |
Repayment period | 275 months | 24 months | Repayment period shorten to 251 months |
Total interest expense | HK$524,404 | HK$30,016 | Savings of interest expense by 94% |
Notes: The above example is for reference only
* Assuming the total outstanding loan amount is HK$500,000 and interest rate is 30% per annum (Annualized Percentage Rate ("APR") is 34.49%. The repayment period and total interest expense are calculated based on the minimum payment of 5% of the monthly outstanding amount. The monthly repayment amount is the average of the first 6 months repayment.
^ Assuming the loan amount is HK$500,000, repayment period is 24 months, no handling fee and at an interest rate of 0.25% per month (APR is 5.81%). The above interest rate, monthly repayment amounts, loan tenor and interest savings may vary for individual customer and is subject to customer's loan status and final approval of the Bank.
The APR is calculated according to the standard of Hong Kong Association of Banks and is rounded up/down to the nearest two decimal places. An APR is a reference rate which includes the basic interest rates and other applicable fees and charges of the product expressed as an annualized rate. Interest is charged daily and calculated on the basis of 365 days per year.
For more tips and information, you may refer to our Key Facts Statement (KFS) for Installment Loan or Financial Tips of this website.