dos. If i early settle the mortgage under a hundred% Personal loan Make sure System, any penalty will be charged?

dos. If i early settle the mortgage under a hundred% Personal loan Make sure System, any penalty will be charged?

step 1. I don’t has actually a keen HSBC family savings, ought i make an application for a loan under the ten0% Consumer loan Ensure Strategy during the HSBC?

You can expect our characteristics beneath the 100% Personal loan Be certain that Strategy to existing HSBC people. If you’d like to apply for financing within the 100% Personal loan Be certain that Strategy in the HSBC, you are able to the newest HSBC HK Cellular Banking software to open a bank account.

step step three. Should i go for a primary fees vacation age far more than several months?

You could choose whether to make principal fees getaway. Immediately after opt-into the, the principal installment getaway is restricted within 1 year as the considering by HKMC Insurance policies Limited.

4. Just how are attention calculated under the 100% Personal loan Make certain System?

Interest rates are calculated according to the Rule out-of seven8. This process reduces the principal and you may need for for each monthly cost of one’s a hundred% Personal bank loan Be sure Design.

This technique puts a lessening weight into the notice and you will a growing weight for the prominent over the payment episodes. The quantity 78 originates from including what amount of days out of an effective several-month-loan:

step 1 + dos + step 3 + 4 + 5 + six + seven + 8 + nine + ten + eleven + 12 = 78

The interest are allocated to the fresh new fees period inside a contrary bit, such that (earliest attract piece) of complete notice could well be applied to the first week, (next attention piece) of your own complete appeal is used on the second week, an such like.

A consumer borrows HKD80,100000 for 72 days instead twelve-few days prominent repayment holiday, in the a month-to-month predetermined fee from 0.043% and you will addressing commission was waived. Therefore, the complete loan prominent is HKD80,000

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Zero. of costs Interest in each instalment (HKD) Dominant paid into the for each and every instalment (HKD) Outstanding Prominent (HKD)
1 1, 78,
2 1, 7seven,
3 step 1, 76,
4 step one, 75,
5 step one, 74,
6 1, 7step three,
7 step one, 7dos,
8 step one, 7step one,
9 step one, 70,
10 step one, 6nine,
11 1, 68,
12 step one, 67,
thirteen step one, 65,
fourteen step one, 64,
15 1, 63,
sixteen 1, 62,
17 step one, 61,
18 1, 60,
19 step 1, 59,
20 1, 58,
21 1, 57,
twenty two step one, 56,
23 step 1, 54,
24 1, 53,
twenty five 1, 52,
twenty-six step one, 5step 1,
twenty seven step 1, fifty,
twenty-eight step one, forty-two,
29 1, forty eight,
30 1, 47,
31 , step 1, 46,
thirty two step one, ,forty five,
33 step one, 43,
34 step one, 42,
thirty-five 1, 41,
thirty six step 1, forty,
37 step one, 39,
38 step one, 38,
39 step 1, 37,
40 step 1, thirty-six,
41 step 1, thirty five,
42 step 1, 33,
43 step one, thirty two,
44 step one, 29,
45 1, 29,
46 1, 30,
47 1, twenty eight,
48 step one, 27,
49 1, twenty-six,
50 step 1, twenty four,
51 step one, 23,
52 step 1, twenty two,
53 1, 21,
54 step 1, 20,
55 step one, 19,
56 1, 18,
57 1, 17,
58 1, fifteen,
59 step one, 14,
60 step one, 13,
61 step one, twelve,
62 step 1, eleven,
63 9.forty-five step 1, 10,
64 8.fifty step one, 9,
65 7.56 step 1, 7,
66 six.61 step one, 6,
67 5.67 1, 5,
68 4.72 1, 4,
69 step 3.78 1, 3,
70 2.83 1, 2,
71 1.89 1, 1,
72 0.94 1, 0.00
X
X
X
X
X
X
X