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 “Interest-free” 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. Annualized percentage rate ("APR") is a reference rate which includes the basic interest rates and other fees and charges of a product expressed as an annualized rate. The APR ranged from 1.86% to 3.90% generally and the minimum repayment period and maximum repayment period is of 12 months to 36 months. APR is determined according to customers’ financial condition.
2. Customer who has successfully applied for the “Interest-Free” Tax Loan can enjoy monthly flat rate at 0%.
3. Customer has to pay for a handling fee on the approved loan amount per annum. Even if the tenure is less than 12 months, the handling fee will still be levied for a full year. The handling fee shall be determined by the Company at its absolute discretion according to loan amount, customer’s credit rating and income proof and other factors. The handling fee shall be added onto the loan amount and to be paid together with the monthly instalments.
4. “Interest-Free” Tax Loan is subject to its applicable terms and conditions. The Company may, in determining the final APR and loan amount and loan tenor, refer to factors in its absolute discretion, including but not limited to the APR provided by other banks and/or financial institutions in the market with the same loan amount and loan tenor, customer’s credit rating and income proof. For example, if the handling fee is 1% per annum of the approved loan amount and the loan amount is $100,000, the APR for 12 months is 1.86%, the total loan repayment amount is HK$101,004. If the handling fee is 1.5% per annum of the approved loan amount and the loan amount is $100,000, the APR for 12 months, and 24 months are 2.81%, and 2.90% respectively, the total loan repayment amount are HK$101,508, and HK$103,008 respectively. If the handling fee is 2% per annum of the approved loan amount and the loan amount is $100,000, the APR for 36 months is 3.90%, the total loan repayment amount is HK$106,020. The above examples are subject to the approval from the Company and the Company reserves the final right and decision on the approval of the final APR, loan amount, loan tenor and other terms and conditions of the loan. In case of any dispute, the decision of the Company shall be final and conclusive and binding on the customer.
The “Interest-free” 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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