Personal Tax Loan

News Flash - ICBC (Asia) Personal Tax Loan Interest Rate Cut to Record Low! Includes flexible loan tenor and handling fee waiver for the duration of the loan repayment period. Now, you can have ample cash to pay your tax with the greatest of ease!

Interest Rate Offer

  • Monthly flat rate as low as0.08%1&2, annualised percentage rate as low as 1.66%1&2

Cash Rebate

  • Apply on or before 31 December 2017 to enjoy HK$100 rewardafter successful approval3

Product Features

  • Loan amount up toHK$4,000,000or18 times4of monthly salary (whichever is lower)
  • Flexible loan tenor up to 24 months
  • Handling feewaiverfor entire repayment period

Monthly Repayment Schedule

Privileged Customers & Existing Banking Customers5

Loan Amount(HK$) Monthly Flat Rate 6 month tenor 12 month tenor 18 month tenor 24 month tenor
(APR) 2 Monthly Repayment Amount(HK$)6 (APR) 2 Monthly Repayment Amount(HK$)6 (APR) 2 Monthly Repayment Amount(HK$)6 (APR) 2 Monthly Repayment Amount(HK$)6
$1,000,000 or above 0.080% 1.66% (1674.67) 1.78% (841.33) 1.83% (563.56) 1.85% (424.67)
$700,000-$999,999 0.090% 1.86% (1675.67) 2.01% (842.33) 2.06% (564.56) 2.08% (425.67)
$400,000-$699,999 0.100% 2.07% (1676.67) 2.23% (843.33) 2.29% (565.56) 2.31% (426.67)
$100,000-$399,999 0.110% 2.28% (1677.67) 2.46% (844.33) 2.52% (566.56) 2.54% (427.67)
$10,000-$99,999 0.115% 2.39% (1678.17) 2.57% (844.83) 2.63% (567.06) 2.66% (428.17)

Normal Customer

Loan Amount(HK$) Monthly Flat Rate 6 month tenor 12 month tenor 18 month tenor 24 month tenor
(APR) 2 Monthly Repayment Amount(HK$)6 (APR) 2 Monthly Repayment Amount(HK$)6 (APR) 2 Monthly Repayment Amount(HK$)6 (APR) 2 Monthly Repayment Amount(HK$)6
$1,000,000 or above 0.085% 1.76% (1675.17) 1.89% (841.83) 1.94% (564.06) 1.96% (425.17)
$700,000-$999,999 0.095% 1.97% (1676.17) 2.12% (842.83) 2.17% (565.06) 2.20% (426.17)
$400,000-$699,999 0.105% 2.18% (1677.17) 2.34% (843.83) 2.40% (566.06) 2.43% (427.17)
$100,000-$399,999 0.115% 2.39% (1678.17) 2.57% (844.83) 2.63% (567.06) 2.66% (428.17)
$10,000-$99,999 0.120% 2.49% (1678.67) 2.68% (845.33) 2.75% (567.56) 2.78% (428.67)

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



Remarks:
1.Only applicable to privileged and existing banking customer of Industrial and Commercial Bank of China (Asia) Limited (“the Bank”) who successfully apply for and drawdown the personal tax loan (“Loan”) with an approved Loan amount of HK$1,000,000 or above. Annualised percentage rate (APR) 1.66% is calculated based on monthly flat rate 0.08% and 6-month repayment tenor, the above example is for reference only.
2.The APR of the Loan is calculated based on the guidelines as set out in the Code of Banking Practice. The Bank shall have the right at its discretion to apportion any payment between interest and principal in such manner as it shall desire. The annualised percentage rate is a reference rate which includes the basic interest rate and other fees and charges of a product expressed as an annualised rate. The interest rate is applicable on a case-by-case basis and the final approved interest rate is subject to the Loan amount and credit assessment result.
3.Customers who successful drawdown the Loan on or before 31 December 2017 are entitled to enjoy HK$100 cash rebate. Each eligible customer can earn the cash rebate once only. Cash rebate will be deposited into the disbursement/repayment account in the second month after drawdown (For example, if the eligible customer successfully drawdown the Loan on 11 October 2017, cash rebate will be deposited into the disbursement/repayment account on or before 31 December 2017). To be eligible for the cash rebate, eligible customers should maintain good repayment record and the Loan and the account shall remain active and in good condition before and upon receiving the cash rebate. If eligible customers repay the Loan early before the maturity date, the Bank reserves the right to impose fees and charges upon early repayment of the Loan.
4.The highest approval amount for the Loan is up to 12 times of monthly salary and the highest approval amount for credit card limit is up to 6 times of monthly salary.
5.Privileged Customers include civil servants, doctors, dentists, pharmacists, accountants, barristers, solicitors, architects, surveyors, engineers, actuaries, town planners, university professors or pilots. Existing Banking Customers include: 1) The Bank's existing bank account customers; 2) The Bank's existing loan customers; 3) The Bank's existing credit card customers. The Bank reserves the final right to interpret the definition of Privileged and Existing Banking Customer.
6.The above example is for reference only. The monthly repayment amount of the example is calculated based on loan amount HK$10,000 with 6-month, 12-month, 18-month and 24-month repayment tenor.
7.The Bank reserves the right to vary or terminate the offer at any time. The Bank reserves the right for final decision in case of any disputes.
8.In case of any discrepancy between the English and Chinese versions, the English version shall prevail.

For the details of the terms and conditions, please contact our branch staff or refer to the application form.

Key Facts Statement (KFS) for Instalment Loan – Personal Tax Loan
Explanation of “Rule of 78” for Personal Tax Loan
Important Notes for Early Repayment of Personal Tax Loan
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