Hospital Authority Enhanced Home Loan Interest Subsidy Scheme

For the "Key Facts Statement (KFS) for Residential Mortgage Loan", please click here.

Hospital Authority Enhanced Home Loan Interest Subsidy Scheme

Bank of China (Hong Kong) Limited (“BOCHK”) offers the Hospital Authority Enhanced Home Loan Interest Subsidy Scheme¹ (EHLISS) for Hospital Authority staff. This scheme is a combination of an interest-subsidised Staff Loan offered by the Hospital Authority (“Staff Loan”) and mortgage loan offered by BOCHK (“Bank Loan”) to reduce your interest expenses and help you easily realise your homebuying dreams.

Loan amount of up to 90% of property value
helps reduce your financial burden and interest expenses

Total loan amount up to 90% of net property value	=	Staff Loan^2&3	+	Bank Loan²

Loan Amount		48x monthly salary or HK$6,000,000 (whichever is lower)		Up to 70%⁴ of the net property value

Interest Rate		1% p.a. (if the market rate is 4% p.a. or below)⁵		Preferential interest rate and cash rebate⁶

Loan Tenor		Up to 20 years		Up to 30 years

Total loan up to 90% of net property value =

Staff Loan^2&3

Bank Loan²

Loan Amount

48x monthly salary or HK$6,000,000
(whichever is lower)

Up to 70%⁴ of the net property value

Interest Rate

1% p.a.
(if the market rate is 4% p.a. or below)⁵

Preferential interest rate and cash rebate⁶

Loan Tenor

Up to 20 years

Up to 30 years

Case Study
Reducing your financial burden

Case Study
Savings on interest expenses

A Hospital Authority staff member aged 45, with a monthly income of HK$100,000, plans to purchase a private residential property for HK$8 million with a Staff Loan and a Bank Loan:

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Loan amount of
up to 90% of property value;
become a homeowner by paying HK$800,000 down payment only

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Applicable to uncompleted property that will be completed within two years⁷, and completed property, including village houses

Mortgage Type		Staff Loan^2&3		Bank Loan²

Loan Amount	=	HK$4,800,000⁸ 60% of the property value HK$4,800,000m⁸ 60% of the property value	+	HK$2,400,000⁹ 30% of the property value

Loan Tenor		20 years		30 years

A Hospital Authority staff member aged 40, with a monthly income of HK$70,000 and a mortgage with another bank, plans to refinance the outstanding loan amount of HK$4.95 million via EHLISS:

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Interest savings

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Adjust the loan tenor
as needed

Mortgage Type		Staff Loan^2&3		Bank Loan²

Loan Amount	=	HK$3,360,000⁸	+	HK$1,590,000⁹

Interest Rate		1.55%¹⁰		3.60%¹⁰

Loan Tenor		20 years¹¹		30 years¹¹

Mortgage Loan interest expenses for the whole tenor		HK$550,000^10&12		HK$1,010,000^10&12

Total Mortgage Loan interest expenses for the whole tenor		HK$1,560,000

Savings on interest expenses		HK$440,000^12&13

A staff of Hospital Authority aged 45 with a monthly income of HK$100,000 purchases a private residential property with value of HK$8,000,000 by obtaining a Staff Loan and the Bank Loan:

Loan amount
up to 90% of property value,
become a homeowner by paying HK$800,000 down payment only

Applicable to uncompleted private residential property (to be completed within 2 years)/completed property or village house

Mortgage Type
Staff Loan^2&3	+	Bank Loan²
Loan Amount
HK$4,800,000⁸ 60% of the property value HK$4,800,000⁸ 60% of the property value	+	HK$2,400,000⁹ 30% of the property value HK$2,400,000⁹ 30% of the property value
Loan Tenor
20 years		30 years

A Hospital Authority staff member aged 40, with a monthly income of HK$70,000 and a mortgage with another bank, plans to refinance the outstanding loan amount of HK$4.95 million via EHLISS:

Interest savings

Adjust the loan tenor
as needed

Mortgage Type
Staff Loan^2&3	+	Bank Loan²
Loan Amount =
HK$3,360,000⁸	+	HK$1,590,000⁹
Interest Rate
1.55%¹⁰		3.60%¹⁰
Loan Tenor
20 years¹¹		30 years¹¹
Total Mortgage Loan Interest expenses for the whole tenor
HK$550,000^10&12		HK$1,010,000^10&12
Mortgage Loan Interest expenses for the whole tenor
HK$1,560,000
Savings on interest expenses
HK$440,000^12&13

Notes

The Hospital Authority Enhanced Home Loan Interest Subsidy Scheme (“EHLISS”) is authorized by the Hospital Authority (“HA”).
Mortgage loan under the EHLISS consists of the Staff Loan(s) offered by HA and the Bank Loan offered by the BOCHK. The BOCHK acts as an administrator of the Staff Loan on behalf of the HA. After drawdown of the Staff Loan, the Staff Loan will sell to the loan purchasing institution designated by the HA and the BOCHK will continue to act as an administrator on behalf of the loan purchasing institution.
If there is more than one HA staff applying for the EHLISS in respect of the same property, the number of staff and Staff Loan amount will be determined by the HA in accordance with its guideline.
The maximum of mortgage loan amount is subject to the related guideline on the Loan-to-value ratio and the maximum loan amount issued by the Hong Kong Monetary Authority from time to time.
The applicable market rate for Staff Loan is subject to change by the HA from time to time in accordance with market changes and HA provides a maximum subsidy of 3% p.a. to its staff. When the “Market Interest Rate” is not higher than 4% p.a., the annual interest rate payable by the staff is 1%. If the “Market Interest Rate” is higher than 4% p.a., the annual interest rate payable by the staff is the difference between the “Market Interest Rate” and the maximum 3% subsidy provided by the HA to the staff.
The cash rebate is subject to the prevailing promotional offers provided by the BOCHK.
The uncompleted property should be on the selected property list of BOCHK and we reserve the right on the final approval of the selected property list. If the target completion date of the property exceed 12 months, the property should be on the selected property list of the Hong Kong Mortgage Corporation Limited.
Assuming the Staff Loan amount is calculated at 48 times of the monthly salary.
Assuming the Bank Loan amount is calculated by subtracting the Staff Loan amount from the original loan balance.
Assuming the interest rate of Staff Loan is 4.55% p.a.,HA provides a subsidy of 3% p.a. to its staff, and the interest rate payable by staff is 1.55% p.a. The interest rate calculation of Bank Loan is calculated at the BOCHK’s Hong Kong Dollar Prime (“P”) minus 2.15% (P = 5.75% as of 8 May 2023) and the Hong Kong Dollar Prime Rate will be based on the interest rate announced by the BOCHK from time to time.
Assuming the customer to adopt the maximum tenor of the Staff Loan of 20 years and the Bank Loan of 30 years through re-financing of mortgage loan. On a case-by-case basis, the total lump sum of monthly instalment amount may increase when comparing with the original mortgage loan.
Assuming the mortgage loan interest rate remain unchanged throughout the loan tenor for Staff Loan, Bank Loan and the original mortgage loan.
The calculation is based on the outstanding of original mortgage loan amount of HK$4,950,000 with outstanding loan tenor of 20 years and the original loan interest rate at 3.60% p.a. and subtracting the total mortgage loan interest expenses for the whole tenor.

Service Features

We offer comprehensive 24/7 online and offline support, accommodating your schedule. It is a one-stop solution that allows you to handle your mortgage application easily and flexibly.

Professional Mortgage Specialists' support

A dedicated EHLISS page on the “Home Expert” APP

Free assessment and 1-day approval

24/7 customer service

Earn higher interest returns on savings in addition to owning your dream home

Special mortgage loan cash rebate^1.2 and selected multiple offers up to HK$33,926

Mortgage and Payroll
Welcome Reward of Mortgage and Payroll Account of up to HK$6,000^1.1&2

Wealth Management
Total Relationship Balance Growth Reward of up to HK$12,000^3.1 and Foreign Exchange Reward via Mobile Banking up to HK$3,188^3.2.1&3.2.2

Referral Reward
HK$4,388^4.1 for each successful “Private Wealth” Referral. For “Wealth Management”, “Enrich Banking” and “i-Free Banking”, the Referral Reward of up to HK$6,450^{4.2 &4.3}

Spending
Credit Card Welcome Offers of up to HK$1,900^5.1

Terms and Conditions

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For the “Key Facts Statement (KFS) for Residential Mortgage Loan”, please click here.

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*One Day Approval Mortgage Service (“Service”) Terms and Conditions:

This service is applicable to mortgage loan application of individual customers and EHLISS applying through BOCHK, including new purchase and refinance of private residential property.
Applicants are required to fill in the application form and to provide all of the required documents to our Mortgage Specialists for approval. Under general conditions, applicants will be notified of the approve-in-principle result within one working day. For application details, please contact the branch staff of BOCHK.
This service is only applicable to mortgage loan application of the purchase of private residential property by individual customers, excluding Ding houses, Tso houses and tenements residential properties.
This service is only eligible to applicants (if the account is a joint name account, a least one holders of such account will be considered as eligible customer) or the guarantor who is a fixed income or professional self-employed person but excluding customers whose Mortgage Loan application is based on Net worth-based lending.
With regard to One Day Approval Mortgage Services, it is mandatory for applicants to have signed a “Consent Relating to Mortgage Data” prior to this application (excluding the “Consent Relating to Mortgage Data” signed for this current application).

General Terms and Conditions:

The above information is for reference only. Bank of China (Hong Kong) Limited ("the Bank") may at its absolute discretion approve or reject any application for credit facilities and mortgage and may decline any application without assigning any reason. The final terms and conditions of the mortgage will be governed by the Facility Letter and other relevant documents signed between the loan applicant and the Bank. The information being provided does not constitute loan advice, offer, solicitation or recommendation to any lending product.
The above information is for reference and the figures are for illustration purpose only. It demonstrates the mortgage interest that customer may save with the assumption of the mortgage interest rates. Customer shall be aware of the early repayment fee, penalty, handling fee, administration fee (if applicable) being charged by original mortgage bank and the legal fee for appointment of solicitor that may incurred upon the application for the refinancing of mortgage loan.
If the amount of the abovementioned cash rebate is over 1% of the mortgage loan amount, the entire amount of the cash rebate will be included in the calculation of mortgage loan-to-value ratio.
In case of any discrepancies between the Chinese and English version of this web page, the Chinese version shall prevail.

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