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Interest Rate Table
| Preferential interest rate for the first 3 months (APR*) | Interest rate thereafter (APR*) |
|---|
| 8.80% p.a. (9.21%) |
12.80% p.a. (13.63%) |
You must apply the Program and be approved in order to enjoy the preferential interest rate of 8.80% p.a. (APR: 9.21%) for the first 3 months, and the subsequent interest rate is 12.80 p.a. (APR: 13.63%). The account must be valid and in good credit standing. If there are 2 or more times delinquent records in past 12 months, the interest rate will be adjusted up to 31% p.a. (APR: 35.81%).
Example: Assume the credit card outstanding balance is HKD100,000 and the monthly repayment amount is 1% of outstanding balance
| Interest rate for the first 3 months (APR*) | Rate thereafter (APR*) | Average monthly interest for the first 12 months (HKD) | Save up to |
|---|
| Transferring your credit card balance to the "Smart Choice" Balance Transfer Program |
8.80% p.a.
(9.21%) |
12.80% p.a.
(13.63%) |
945 |
63% |
| Keeping your balance in the credit card account |
31% p.a.
(35.81%) |
31% p.a.
(35.81%) |
2,529 |
The above example is for reference only.
*Annualised Percentage Rate (APR) may vary for different customers. The APR is calculated based on the Net Present Value (NPV) method for calculation of financial charge in accordance with the guideline of the Code of Banking Practice and is rounded to the nearest 2 decimal places. An APR is a reference rate which includes the basic interest rate and other fees and charges of a product expressed as an annualised rate.
