OCBC Wing Hang Credit Limited (“Company”) is the wholly-owned subsidiary of OCBC Wing Hang Bank Limited. The Company is the entity which processes the application of “3-Month Interest-Free Skip-Payment” Tax Loan and provides the loan and related services. Customer can submit application through the branches of the Company and OCBC Wing Hang Bank Limited. To enquire the relevant terms and conditions, please contact the staff of the Company.
1. An APR is a reference rate which includes the basic interest rates, other fees and charges of a product expressed as an annualised rate. APR is determined according to customers’ financial condition.
2. Customer who has successfully applied for the “3-Month Interest-Free Skip-Payment” Tax Loan will be automatically entitled to the “Interest-Free Skip-Payment” offer for the 1st monthly instalment and may additionally apply for the “Interest-Free Skip-Payment” offer once for each of the 4th and 7th monthly instalment. Customer’s tax loan account must remain valid and in good standing at the time of Interest-Free Skip-Payment, without any overdue or adverse payment record or breach of any of the terms and conditions applicable to such account and/or tax loan to be eligible for any of the privileges herein mentioned. Otherwise, the customer will be conclusively deemed to have unconditionally and irrevocably waived any and all his/her entitlement and right to any such privileges. Customer in each application can only apply for “Interest-Free Skip-Payment” offer in respect of 1 of such monthly instalments, with a maximum of 2 applications in total within the whole loan period. In respect of each approved application, the original due dates of the relevant applied monthly instalment and all subsequent monthly instalments shall correspondingly be deferred for one calendar month, with a maximum of 3 months deferral in total for the whole loan period if customer successfully applies for “Interest-Free Skip-Payment” offer for each of the 4th and 7th monthly instalments. Save as aforesaid, the terms and conditions of the Promissory Note/Loan Confirmation Letter shall remain unchanged.
3. A handling fee which is equivalent to 1% per annum of the approved loan amount (calculated based on every 12 months and even if the tenure is less than 12 months, the handling fee will still be levied for a full year) is waived for customer who has successfully applied for “3-Month Interest-Free Skip-Payment” Tax Loan.
4. For loan amount HK$100,000 and monthly interest rate of 15-month and 27-month is 0.162% and 0.162%, if the loan is approved by the Company, the 15-month and 27-month APR (with inclusion of the “Interest-Free Skip-Payment” offer for 1st instalment, 4th instalment & 7th instalment and waived handling fee) are 2.69% and 3.09% respectively. The 14-month and 26-month APR (with inclusion of the “Interest-Free Skip Payment” offer for 1st instalment & 4th instalment and waived handling fee) are 2.86% and 3.25% respectively. The 13-month and 25-month APR (with inclusion of the “Interest-Free Skip-Payment” offer for 1st instalment and waived handling fee) are 3.14% and 3.46% respectively.
The “3-Month Interest-Free Skip-Payment” Tax Loan is subject to the terms and conditions of the product, the related loan application form, the relevant account opening documentation, loan offering documentation and all other terms and conditions applicable to them respectively. Loan amount, interest rate, monthly repayment amount and repayment tenor applicable to each individual applicant may be different and is based on the final approval status of the Company. Please contact the staff of the Company for details and enquiries. The Company has the absolute discretion to reject the application from time to time without specifying any reasons. The Company may amend, terminate or cancel the above offers and the related terms and conditions without prior notice. The Company reserves all the final decision on determining the interest rates, final APR, loan amount, loan tenor, amending the terms and conditions, approving loan application and any abovementioned offers. Reference will be made to the customer’s credit reports and the Company reserves the right to reject the application without specifying any reasons. Should any disputes arise in connection with the above services, the interpretation and decision of the Company should be final, conclusive and binding on the customers.
The English version shall prevail if there is any inconsistency between the English and Chinese versions.
Note: To consider whether to make early repayment, please refer to "FAQ" of this website.
For details or enquiries about the related terms and conditions, please contact us.
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