- High loan amount with long repayment period
- Loan amount of up to 70% of the transaction amount or the appraised value of the property (whichever is lower)
- Repayment period of up to 25 years
- Various options of loan currencies
- Loan in HK Dollar, US Dollar or RMB available for you to choose from (RMB loan is only available at designated branches and sub-branches. Please contact our staff for details.)
- Flexible repayment schedule
- Options of monthly or bi-weekly repayment for your convenience
Example (For reference only):
Assume P = 7.5%p.a.*
HKD savings interest rate in the Mainland of China (quoted at September 07): 1%p.a.
Mortgage loan amount: HK$1,000,000
Repayment period: 20 years (240 instalments)
Deposit amount of "Smart" Banking Account / General savings account upon the next day of first repayment date: HK$100,000
(Assuming that no withdrawal of deposits is made until full repayment of the entire loan)
 |
Mortgage Plan with "Smart" Banking Account |
General Mortgage Plan |
| Mortgage interest rate |
5.25% (P-2.25%)* |
5.25% (P-2.25%)* |
| Monthly repayment |
HK$6,742 |
HK$6,742 |
| Total mortgage interest expenses |
HK$617,396 |
HK$617,396 |
| Total interest income on savings account |
HK$28,888 |
HK$22,043 |
| Total "Smart" Benefit |
HK$68,565 |
--- |
| Total net interest expenses^ |
HK$519,943
(Save 12%) |
HK$595,353 |
| * | P is the Hong Kong Dollar Prime Lending Rate quoted by Bank of China (Hong Kong) from time to time. The interest rates and examples quoted above are for reference only. |
| ^ | Total net interest expenses = Total mortgage interest expenses - total interest income on savings account - Total "Smart" Benefit |
For enquiries, please call or visit any of our branches / sub-branches in the Mainland of China.
Remarks:
- The mortgage account and the "Smart" Banking Account must be maintained in the same currency. The "Smart" Banking Account should be designated as the loan repayment account.
- The deposits in "Smart" Banking Account will be treated as early repayment according to the predetermined ratios only when the account balance reaches the designated amount or above (i.e. HKD 50,000, RMB 50,000 and USD 6,400 respectively). For details, please contact our staff.
- The deposits in the "Smart" Banking Account will not be considered as early repayment in the event of loan payment default. In this case, the general savings deposit interest rate will be applied to the "Smart" Banking Account.
- The applicant is required to sign the legal documents with our Mainland branch upon approval of the mortgage loan. The loan will then be executed by the Mainland branch of Bank of China (Hong Kong).
- The above information is for reference only. The final terms and conditions of the mortgage loan and "Smart" Banking Account will be governed by the Facility Letter and any relevant documents signed between the mortgage loan applicants and Bank of China (Hong Kong).
- Bank of China (Hong Kong) reserves the right for the final approval of mortgage loan and "Smart" Banking Account application.
- In case of any discrepancies between the English and Chinese version, the Chinese version shall prevail.
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