Financial Tip

What type of loan should I choose?

You should decide the loan type by considering your actual need. If you wish to have an extra cash for travelling, study, home renovation, etc., you may consider to apply for Personal Installment Loan.If you wish to have a large amount of money to settle all credit card debts in order to better plan your financials and save interest expense, you should apply for Balance Transfer Program.

How much should I borrow and how long should I choose to repay the loan?

You should decide the loan amount & repayment period by considering your actual need and repayment ability. Since both loan amount and repayment period affect the monthly repayment amount, you should take a balance between them to ensure you have enough left of your income after loan repayments to live and save some money.

What are the requirements to apply for CCB (Asia) Personal Loan?

The basic criteria to apply for Personal Loan is that applicant must be a Hong Kong permanent resident and aged 18 or above with annual income of HK$64,000 or above.

Besides the interest rate, what other factors should I consider before applying for a personal loan?

  • Ease of application

  • Approval turnaround time

  • Read the terms and conditions carefully to ensure that there are no other costs and hidden fees

  • Whether the channels for repayment are convenient

What is the meaning of monthly flat rate and the annualized percentage rate (APR)?

Monthly flat rate is used to calculate the monthly repayment amount for an installment loan, which is illustrated in the below example:

  • Example:
    Loan Amount HK$ 100,000
    Monthly flat rate 0.22% (APR 5.11%)
    Repayment period 24 months
    Monthly repayment amount HK$ 4,387

    The Annualized Percentage Rate ("APR") is calculated according to the standard of Hong Kong Association of Banks and is rounded up/down to the nearest two decimal places, including all payable fees/charges such as the handling fee, premium fee, etc. 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.

    Is there any fees for early repayment?

    Yes. Customers have to bear the early settlement fee. Please refer to the Loan Confirmation Letter or CCB (Asia) Personal Loan Schedule of Service Fees.

    Do I save interest expenses by making early repayment of personal installment loan?

    In general, more outstanding interest payments can be saved the earlier the loan is repaid. Nevertheless, the early repayment fee involved should also be taken into account before deciding whether to make early repayment or not. The Bank uses the Rule of 78 for the apportionment of interest and principal for each monthly repayment of the loan. Even though the monthly repayment amount is the same throughout the loan tenor, more interest will be included in earlier repayments and less on principal. Where repayments have been made as scheduled for some time, the amount of outstanding interest is likely to be small. If early repayment is to be made at this point of time, the amount of interest saved may not be enough to cover the early repayment fee. Therefore before making a decision of repaying early or not, we suggest customers check with us the total amount involved in early repayment (including outstanding loan balance, early repayment fee and other charges, etc.) and the amount of outstanding interest, and then compare different scenarios and consider carefully.

  • Please refer to the illustrative example of the apportionment of principal and interest for each monthly repayment of our personal installment loan.

    What personal information will CCB (Asia) obtain from a credit reference agency?

    In order to access the credit condition of applicants, CCB (Asia) will check with the credit reference agency, for applicants’ credit report including credit history and credit account information, etc.

    Who should I contact for further enquiry?

    Customers can contact us via our Enquiry Hotline +852 3179 5501 during service hours, visit any CCB (Asia) Loan Center(s) / Branches in person or through this website.

     # Enquiry Hotline service hours: Monday – Friday: 9:00 a.m. - 8:00 p.m.
    Saturday: 9:00 a.m. - 1:00 p.m.
    (Except public holidays)

    How can I settle the Personal loan monthly payment before "Autopay Service" effective?

    Before receiving the "Autopay Service Effective Notification", you can make use of the following channels to settle your monthly payment of Personal Loan.

    • Visit any CCB (Asia) Branch for cash or cheque payment
      Please bring along your loan account number and pay in person or by designated third party at any consumer branches of China Construction Bank (Asia) in Hong Kong on or before the repayment date. Cash payment will be processed on the same day. Cheque payment will be recognised as payment on its clearance date.

    • Cheque by mail
      With at least 5 working days before the repayment date, please send a crossed cheque to G.P.O. Box 9594, Hong Kong, payable to China Construction Bank (Asia) Corporation Limited. Please write down your loan account number at the back of the cheque. Post-dated cheque will not be accepted.

    To borrow or not to borrow? Borrow only if you can repay!