Credit Mastermind Instalment Loan

 




The Credit Mastermind Instalment Loan eases your burden by consolidating all of your credit cards and personal loans into a single loan and saving the interest expense up to 86%.
 
  • Privileged personalized monthly flat rate as low as 0.22
  • Double Cash-Out Loan 3 - Loan amount in cash is up to HK$20,000 and cash rebate is up to HK$1,000
  • Total loan amount is up to HK$800,000 or 18 times monthly income (whichever is lower)
  • Loan tenor is up to 7 years 4
  • All branches will provide credit consultant services which will tailor-make a repayment plan to enable you to consolidate all your outstanding loans
 
Existing credit card outstanding of $250,0005
Credit Mastermind Instalment Loan
Total Interest Expense (HK$) $261,861
$34,976 Saving total interest expense up to 86%
Monthly Repayment (HK$) $11,190
$5,937 Saving by 47% m
Tenor 239 months
48 months Shortened by 80%
 
*Input (1) Name (2) Loan Amount and (3) Repayment Tenor (e.g. Lam Siu Man, 50000, 24). Our bank will have a designated staff member to follow up with the customer by calling the number from which the SMS was sent on the next working day after receiving the SMS. Individual telephone network provider will charge a fee for the SMS in accordance with their fee charging schedules.
 
 
Remarks:
  1. The promotion period lasts from 18 August to 1 November 2008 (“the Promotion Period”).
  2. According to the Guidelines of Code of Banking Practice, subject to a loan amount of HK$250,000, a 48-month loan tenure and a monthly flat rate 0.2%, the Annualized Percentage Rate is 6.77%, with a credit life premium of 1% p.a. included.
  3. Up to HK$20,000 loan amount in cash will be included in the customer’s approved total loan amount (maximum loan amount in cash is HK$20,000 or 1 times monthly salary, whichever is lower) which will be issued by cashier’s order and without requiring repayment of the outstanding amount of credit cards or personal loans. Dah Sing Bank reserves the right to approve loan amounts in cash. Up to a HK$1,000 cash rebate offer (“cash rebate”) is only applicable to customers who successfully apply and disburse the loan during the Promotion Period. If the cash rebate varies from the approved loan amount: the cash rebates of HK$1,000; HK$600; HK$300 and HK$100 will be given according to the approved loan amount of HK$500,000 - HK$800,000; HK$300,000 - HK$499,999; HK$100,000 - 299,999 and less than HK$100,000 respectively. The cash rebate will be credited to eligible customers' accounts by February 2008. Customer is also required to maintain his / her account valid and with a good repayment record .If a customer makes any early settlement during the repayment period, the customer will be subject to an early repayment penalty and refund of the full cash rebate amount.
  4. Loan tenure of 73 months or longer is available only to civil servants.
  5. The example is for reference purposes only. For credit cards, the total interest expense is calculated based on a minimum payment of 5% and the relevant monthly repayment amount is the average monthly repayment amount for the first 12 months. The tenor is 239 months assuming a credit card loan amount of HK$250,000 and an annual rate of 30%. (Annualized Percentage Rate is 34.49%.) The Annualized Percentage Rate, the monthly repayment amount, the tenor and the total interest expense of the credit card are calculated according to the Guidelines of Code of Banking Practice.
  6. The minimum monthly income of applicants must be at least HK$8,000. The above interest rate, credit life premium, monthly repayment amounts, tenor and interest savings may vary for each individual customer and is dependent on the final approval of Dah Sing Bank. Dah Sing Bank reserves the right to amend the above offers and their terms and conditions at any time without prior notice.