Wise Mortgage

Low Mortgage Rate High Deposit Rate

Alleviating the burden of mortgage, and earning higher interest returns on your deposits are most people’s dream. Wise Mortgage can help you achieve this goal. No matter acquiring a new home, upgrading your apartment or re-mortgage, Wise Mortgage can provide competitive mortgage rate 1in town, as well as preferential deposit rate 3that is equivalent to the mortgage rate when you deposit into your Hong Kong Dollar Repayment Account 2during the repayment period. Such preferential rate is higher than the regular time deposit interest rate; yet without any withdrawal or deposit constraint, the arrangement of funds can thus be more flexible.

Privileges of Wise Mortgage

Preferential deposit rate

  • Equal to mortgage rate and provides a steady and favourable return on deposit.
  • In the first year of repayment, the maximum amount of deposits bearing a preferential interest rate is up to 60% of the total outstanding balance of the mortgage loan4
  • Preferential interest will be accrued on a daily basis.

Interest will be earned for remaining deposit in excess of the maximum amount

  • The remaining deposit in excess of the maximum amount can enjoy an interest rate based on the tiered interest rate of the Hong Kong Dollar Savings Accounts quoted by our Bank5.

Flexible arrangement of funds

  • You can conveniently deposit into or withdraw from your designated Hong Kong Dollar Repayment Account to match your financial needs.

Flexible repayment options

  • Apart from monthly repayment period, you can also choose bi-weekly repayment option to save interest expense.

Comparison between Wise Mortgage and other mortgage plans

 
Wise Mortgage
Similar Deposit-
Linked Mortgage Plans
General
Mortgage Plan
Feature

Apart from mortgage, you can also enjoy preferential deposit rate same as the mortgage rate

Only mortgage, without the offer of preferential deposit

Maximum amount of deposit bearing preferential interest rate

Up to 60% of the total outstanding balance of the mortgage loan for the first year, and up to 50% thereafter

Up to 50% of the total outstanding balance of the mortgage loan

Not applicable

Balance in excess of the maximum amount of deposit bearing preferential interest rate

Interest rate based on our Bank’s tiered interest rate structure for Hong Kong Dollar Savings Account

Only some plans offer interest, with interest rate based on their tiered interest rate structure for Hong Kong Dollar Savings Account or Call Deposit Account

Not applicable

Example6(for reference only)

Mortgage loan amount¡GHK$1,000,000
Repayment period G30 years
Balance of Hong Kong Dollar Repayment Account upon loan drawdown date: HK$20,000
Extra monthly deposit : HK$3,000
(On the assumption that no withdrawal of deposit is made throughout the entire loan tenor)

 
Wise Mortgage
General Mortgage Plan
Mortgage interest rate (p.a.)1

5%

4.85%

Monthly repayment

$5,368

$5,277

Total Mortgage Interest expense (i)

$933,943

$900,990

Preferential deposit rate (p.a.)

5%

N/A

HKD savings rate (p.a.)

2.75%

2.75%

Total interest income on deposit account (ii)

$885,032

$636,025

Total net interest expenses (i)-(ii)

$48,911

$264,965

Wise Mortgage can save HK$216,054 on interest expense comparing to general mortgage plan.

If you want to lower your mortgage burden while earning high and steady interest return, please visit any one of our branches and discuss with our bank staff or call our customer service hotline at 218 95588.

Remarks:

1. Annualized Percentage Rates are calculated according to the basis set out in the Code of Banking Practice.
2. You can choose our Hong Kong Dollar savings account or Hong Kong Dollar savings account in our integrated account as your designated Hong Kong Dollar Repayment Account.
3. Preferential deposit rate will not be available if there is overdue monthly instalment repayment.
4. Thereafter, the maximum deposit amount is 50% of the total outstanding balance of the mortgage loan.
5. For details of the latest tiered interest rate structure on different savings accounts, please contact our bank staff. The tiered interest rate will be set according to the total balance in Hong Kong Dollar Repayment Account.
6. The mortgage and savings rates, and the interest quoted in the example are for reference only. The actual terms and conditions of the mortgage loan will be subject to the facility letter signed between ICBC (Asia) and the mortgage loan applicant.

*ICBC (Asia) reserves the right to amend or suspend the above offers at any time without prior notice and reserves the right of final approval on all loan applications.

** In case of any discrepancies between the English and Chinese version, the English version shall prevail.