1. I don’t has an enthusiastic HSBC bank account, do i need to submit an application for that loan in one hundred% Consumer loan Guarantee Scheme at HSBC?
We offer our very own functions under the 100% Consumer loan Make certain System so you can current HSBC people. If you’d like to sign up for financing beneath the 100% Personal loan Make sure Design in the HSBC, you need to use this new HSBC HK Mobile Banking app to open up a checking account.
step three. Should i decide for a principal cost vacation period of even more than 1 . 5 years?
You might favor whether to use the dominating payment holiday. Immediately following decide-when you look at the, the primary installment vacation is fixed in the 1 . 5 years just like the provided by HKMC Insurance policies Minimal.
cuatro. Exactly how is actually appeal calculated underneath the a hundred% Consumer loan Be sure Strategy?
Interest rates are calculated with regards to the Laws away from seven8. This technique reduces the primary and you may need for per monthly repayment of your 100% Personal loan Make sure Program.
This method places a reducing lbs to your interest and an ever-increasing pounds towards the dominant along side fees attacks. The amount 78 arises from including how many weeks from a beneficial a dozen-month-loan:
step 1 + dos + step 3 + 4 + 5 + six + 7 + 8 + 9 + ten + eleven + a dozen = 78
The attention was spent on the new payment months within the an opposing bit, in a manner that (earliest attract section) of your own total interest could well be applied to the original few days, (next notice portion) of one’s total notice could well be placed on the second month, an such like.
A buyers borrows HKD100,000 getting 120 days without 18-month prominent fees getaway, at the a monthly predetermined fee off 0.043% and you may dealing with fee is actually waived. Therefore, the full financing principal is HKD100,one hundred thousand
| No. from payments | Need for for every single instalment (HKD) | Dominant paid for the for each instalment (HKD) | A great Dominating (HKD) |
|---|---|---|---|
| 1 | step one, | 78, | |
| 2 | step 1, | 7seven, | |
| 3 | step 1, | 76, | |
| 4 | step one, | 75, | |
| 5 | step 1, | 7cuatro, | |
| 6 | step one, | 7step 3, | |
| 7 | step one, | 7dos, | |
| 8 | step 1, | 7step one, | |
| 9 | 1, | 70, | |
| 10 | 1, | 69, | |
| 11 | 1, | 68, | |
| 12 | 1, | 67, | |
| thirteen | step 1, | 65, | |
| fourteen | 1, | 64, | |
| fifteen | step one, | 63, | |
| sixteen | step one, | 62, | |
| 17 | 1, | 6step one, | |
| 18 | step 1, | sixty, | |
| 19 | step 1, | 59, | |
| 20 | 1, | 58, | |
| 21 | step 1, | 57, | |
| twenty two | step 1, | 56, | |
| 23 | step 1, | 54, | |
| twenty four | step one, | 53, | |
| 25 | 1, | 52, | |
| 26 | step one, | 51, | |
| twenty-seven | step 1, | 50, | |
| twenty eight | 1, | forty-two, | |
| 29 | step 1, | forty-eight, | |
| 30 | step 1, | 47, | |
| 31 | , | step one, | 46, |
| 32 | step one, | ,forty five, | |
| 33 | step one, | 43, | |
| 34 | step 1, | 42, | |
| thirty five | 1, | 4step one, | |
| 36 | step one, | forty, | |
| 37 | 1, | 39, | |
| 38 | step one, | 38, | |
| 39 | 1, | 37, | |
| 40 | step one, | thirty six, | |
| 41 | step one, | 35, | |
| 42 | 1, | 33, | |
| 43 | step one, | 32, | |
| 44 | 1, | 31, | |
| 45 | step one, | 31, | |
| 46 | step one, | 31, | |
| 47 | step 1, | twenty-eight, | |
| 48 | 1, | twenty-seven, | |
| 49 | step 1, | twenty-six, | |
| 50 | step one, | twenty-four, | |
| 51 | 1, | 23, | |
| 52 | step one, | 22, | |
| 53 | step one, | 2step one, | |
| 54 | step one, | 20, | |
| 55 | step 1, | 19, | |
| 56 | step 1, | 18, | |
| 57 | step one, | 17, | |
| 58 | 1, | fifteen, | |
| 59 | 1, | 14, | |
| 60 | 1, | thirteen, | |
| 61 | step one, | several, | |
| 62 | step one, | 11, | |
| 63 | 9.forty-five | step one, | ten, |
| 64 | 8.50 | 1, | 9, |
| 65 | seven.56 | step one, | 7, |
| 66 | six.61 | 1, | 6, |
| 67 | 5.67 | step one, | 5, |
| 68 | cuatro.72 | step 1, | 4, |
| 69 | 3.78 | 1, | 3, |
| 70 | 2.83 | 1, | 2, |
| 71 | step one.89 | 1, | 1, |
| 72 | 0.94 | 1, | 0.00 |