Balance Transfer Loan

Balance Transfer Loan
Balance Transfer Loan

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    From now till 31st December 2017 ("Promotional Period"), customers who successfully apply Wing Lung Personal Loan via Wing Lung Bank website can receive HKD 300 Wing Lung Credit Card free spending credit reward! Grasp the chance and act now!

    For Terms and Conditions of Online Application Reward for Wing Lung Personal Loan, please click here for details.

    Customers who successfully apply Wing Lung Balance Transfer Loan are entitled to enjoy:

    • Annualised Percentage Rate as low as 3.95%
    • Loan amount of up to HK$1,200,000or 18 times your monthly salary (whichever is the lower)
    • Flexible Repayment tenor of up to 72 months
      Credit Card Wing Lung Balance Transfer Loan Save interest expenses of

    95%
    Loan Amount HKD500,000
    Repayment period 275 months 60 months
    Total Interest Expenses HKD524,404 HKD27,300


    Remarks:

    1. Annualised Percentage Rate ("APR") is a reference rate which includes the basic interest rate and other fees and charges of a product expressed as an annualised rate. APR is calculated according to the method set out in the Code of Banking Practice. Maximum APR is 36% with a repayment period of 6 to 72 months, subject to the relevant terms and conditions. The loan application is subject to the Bank's approval.

      For a loan amount of HKD1,000,000 with a repayment period of 12 months, the monthly flat rate is 0.091% (APR 3.95%), and the total repayment amount is HKD1,039,500 and the handling fee is HKD10,000. The above example is for reference only.
    2. The credit card example is calculated on the basis of monthly minimum repayment of 5% of the outstanding balance and annual interest rate of 30%, thus the Annualized Percentage Rate ("APR") is 34.49% and the total interest expenses is HKD524,404. Wing Lung Balance Transfer Loan example is calculated on the basis of loan amount of HKD500,000, repayment period of 60 months and monthly flat rate of 0.091%, thus the APR is 4.27% and the total interest expenses is HKD27,300. (The APR is calculated according to the guidelines laid down in the Code of Banking Practice, including loan handling fee of 1% per annum on the approved loan amount and cash reward). The above example is based on a number of assumptions and is for reference only. The credit rating of customers must comply with the requirements of Wing Lung Bank Limited ("the Bank"). The approved APR of individual customer is subjected to the credit rating of the customer, loan amount and repayment period. The final approval of the application, loan amount, repayment period and interest rate will be determined by the Bank as final decision without providing any reason.

     

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    For details of Terms and Conditions of Wing Lung Balance Transfer Loan Promotional Offer, please click here.

    For General Terms and Conditions of Wing Lung Balance Transfer Loan, please click here for details.

    For Key Facts Statement (KFS) for Wing Lung Balance Transfer Loan, please click here for details.

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

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