BOC Express Cash Instalment Loan

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

Apply and draw down BOC Express Cash Instalment Loan to enjoy below offers:

  • Up to 6 months Interest Rebate1a
  • e-Channel Application Offer - HK$500 cash rebate1b
  • Provide Instant Approval Result2
  • Loan amount up to HK$2,000,000 or 12 times of your monthly salary3 (whichever is lower)
  • Annualised percentage rate as low as 2.69%4
  • Apply via the  BOC Express Cash mobile app via  or for application

  • Existing BOC Express Cash customers can get a Top-up loan from any ATM* marked with , BOCHK Internet Banking and Mobile Banking  

Below customers shall visit any one of Bank of China (Hong Kong) Limited (“BOCHK”) branches to submit loan application:

1. BOCHK customers with accounts opened less than three months or non-BOCHK customers; and/or

2. Customers with current office phone number, mobile phone number, residential phone number or residential address (either one) different from that in the records held by BOCHK; and/or

3. Applied loan amount is HK$500,000 or above

Example: Apply loan amount of HK$500,000 with repayment tenor of 36 months and monthly flat rate of 0.0640%. The annualised percentage rate ("APR") is 2.69%4, including an annual handling fee of 0.75% and HK$2,420 cash rebate (the APR excluding cash rebate is 3.02%).The above example is for reference only. 

 

Promotion Period: From now till 31 October, 2018 

Remark:
*ATM Top-up Loan is only applicable to customers having successfully applied for a BOC Express Cash Instalment Loan (including a Top-up Loan) on or later than 1 September 2010.
^ Apple and the Apple logo are trademarks of Apple Inc., registered in the U.S. and other countries. App Store is a service mark of Apple Inc.. Android and the Google Play are trademarks of Google Inc..

The annualised percentage rate ranges from 2.69% to 48.35%.

The above offers are subject to the relevant terms and conditions.

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

Other Application Channels

  • Any BOCHK branches
  • Application Hotline +852 2108 3600 (From 9:00 a.m. to 9:00 p.m. between Mondays and Fridays, from 9:00 a.m. to 6:00 p.m. on Saturdays, excluding public holidays)
  • Download BOCHK Mobile Application or BOC Express Cash Mobile Application now
  • Mobile SMS +852 9266 9393
  • Fax +852 2108 3618
  • Mail: Please send your completed application form to BOC Credit Card (International) Limited (Address: 20/F BOC Credit Card Centre, 68 Connaught Road West, Hong Kong)

BOC Express Cash Customer Service Hotline +852 2108 3611
 

Terms and Conditions and Remarks of BOC "Express Cash" Instalment Loan/ Balance Transfer
Additional Terms and Conditions for Tele-services
Key Facts Statement (KFS) for Instalment Loan

Terms for the Promotion Offer

  1. a. Up to 6 months Interest Rebate:

    To be eligible for the offer, customers should successfully apply for BOC Express Cash Instalment Loan with repayment tenor of at least 36 months or above on or before 31 October, 2018 (“Promotion Period”) and drawdown the loan on or before 30 November, 2018 (“Eligible Customers”), with loan amount of HK$200,000 or above. Eligible Customers using BOCHK (i) Integrated Account Services, (ii) Mortgage Service and / or (iii) Payroll Service (“Designated Service”) are entitled to enjoy the below interest rebate offer. (The captioned offer is not applicable to existing BOC Express Cash Instalment Loan Customers and/or BOC Express Cash Instalment Loan The Selected Corporate Staff.) 

Customers Segment

Loan Amount(HK$)

No. of Months of Interest Rebate*

Eligible Customers

 

 

 

 

 

200,000 or above

 

 

 

1

Eligible Customers and using designated service:
(i) Integrated Account Services:

Enrich Banking and/or

(ii) Mortgage Service

 

 

2

Eligible Customers and using

designated service:

(i) Integrated Account Services:

Wealth Management and/or

(iii) Payroll Service

 

 

6

* Whichever high is valid. The Interest Rebate will be loan amount X monthly flat rate X months of Interest Rebate and rounded off to 2 decimal places. The cap of interest rebate amount is HK$1,000(1 month), HK$2,000(2 months) and HK$6,000(6 months) respectively. 

The definition of Designated Service requirements is as follows: 

(i) Integrated Account Services:

Eligible Customers should have one of the Integrated Account Services (Including Wealth Management and Enrich Banking) with the Bank of China (Hong Kong) Limited (“BOCHK”) (whether under the sole name or joint name, whichever higher) in the period of drawdown date to 28 February, 2019, and meet minimum monthly requirements of the Total Relationship Balance (“TRB”) for that Integrated Banking Service with the BOCHK. For details of the BOCHK’s Integrated Banking Service, please refer to relevant promotional materials or contact the branch staff. 

(ii) Mortgage Service:

Mortgage Service of Eligible Customers must still be valid in the period of drawdown date to 28 February, 2019. For the details on the Mortgage Service, please refer to relevant promotion materials or contact the branch staff. 

(iii) Payroll Service:

Eligible Customers must maintain a valid sole name or joint name of HKD Savings Account or HKD Current Account (“Payroll Account”) with the Bank and receive salary for at least 2 months by “Electronic Payroll Arrangement” or “Single Standing Instruction” (not including the standing instruction originating from the BOCHK) via payroll account within the period from drawdown date to 28 February, 2019 (both dates inclusive), and must continue to use Payroll Service until 28 February, 2019. An “Electronic Payroll Arrangement” refers to the eligible customer’s employer crediting the customer’s salary to the customer’s Payroll Account through the Bank’s or other banks’ payroll system and does not include standing instructions, outside Hong Kong remittances, local electronic transfers, cheques or cash deposits. Eligible customers must receive a monthly salary of HK$4,000 or above in order for the requirement of taking up Payroll Service (“Salary”). BOCHK reserves the absolute right to define the terms of “Salary”, “Electronic Payroll Arrangement” and “Single Standing Instruction”. 

b. HK$500 Cash Rebate for “e-channel application”:

Eligible customers who successfully apply for BOC Express Cash Instalment Loan via website, mobile application, branch electronic platform, “BOCHK_CC” WeChat official account or BOCHK iService and drawdown the loan on or before 31 October, 2018, with loan amount of HK$50,000 or above, are entitled to enjoy an additional HK$500 cash rebate.

c. The interest rebate will be directly credited to the designated BOC Express Cash account of the Eligible Customer on or before 28 February, 2019 without prior notice. The status of the Eligible Customer’s BOC Express Cash account must be normal and valid, and without an overdue record or in breach of the terms and conditions of the BOC Express Cash Instalment Loan when the BOC Credit Card (International) Limited (“Card Company”) credits the cash rebate. If the customer cannot fulfill the above requirements, Card Company reserves the right to withdraw the cash rebate offer without prior notice.

d. If the Eligible Customer makes an early loan settlement after the drawdown of the loan, Card Company reserves the right to request a full refund of the cash rebate amount.


2.    Instant approval result and loan amount are for reference only, and are applicable during the following times:

i) Via BOCHK website, BOC Express Cash mobile application or “BOCHK_CC” WeChat official account -

Only applicable to applications submitted during from 9 am to 12:45 am of the next day from Monday to Friday, from 9 am to 9:45 pm on Saturday, as well as from 12 noon to 8:45 pm on Sunday and public holiday via BOCHK website, BOC Express Cash mobile application or “BOCHK_CC” WeChat official account. If customers apply out of the above service hours, the Card Company will call customers to follow up on application the next working day.

ii) Via BOC Express Cash Hotline-

Only applicable to applications submitted during Monday to Friday from 9am to 9pm, and Saturday from 9am to 6pm (except Public Holidays).

3.    The maximum loan amount for the BOC Express Cash Instalment Loan is up to HK$2,000,000 or 12 times of the monthly salary (whichever is lower). The Card Company will determine the final approved loan amount based on the credit rating of the individual customer and other relevant factors.

4.    The quoted interest rate is calculated based on a loan amount of HK$500,000 with repayment tenor of 36 months and monthly flat rate of 0.0640%. The annualised percentage rate (“APR”) is 2.69%, including an annual handling fee of 0.75% and HK$2,420 cash rebate (the APR excluding cash rebate is 3.02%).The APR is calculated according to the guidelines laid down in The Hong Kong Association of BanksAn APR is a reference rate which includes the basic interest rates and other fees and charges of a product expressed as an annualised rate. For loan and offer details, rates, handling fee, annualised percentage rates, terms and conditions, please contact the staff.

5.    Early Settlement Penalty
Upon early settlement of the Loan, outstanding interest and principal shall be calculated on the basis of “Rule of 78”. The Borrower shall also pay an early settlement penalty which is 2% of the approved Loan Amount of Instalment Loan; 1.5% of the approved Loan Amount of Instalment Loan Balance Transfer per annum for the remaining years of Loan Period (any part of a year shall be rounded up to a year). The Card Company may at its discretion adjust the early settlement penalty at any time with prior notice. Please note that different loan products have an individual calculation of the apportionment of the interest and principal even though the monthly repayment amount is equal. The loan tenor, more interest will, in general, be included in earlier repayments, and less on principal. In other words, where a borrower has been making repayments as scheduled for some time, the amount of outstanding interest is likely to be small. If the borrower chooses to pay off the loan early at this moment, the loss may outweigh the gain as the amount saved may not be enough to cover the relevant charges for early repayment. You are suggested to make enquiries to the Card Company for the total settlement amount (including the loan outstanding amount, early settlement penalty and other incurred fee(s)) and unpaid interest. You may refer to Instalment Loan Calculator and Repayment Schedule in our webpage (https://loan.boccc.com.hk/lmmMin2/calculator.jsp?product_code=IL&lang=en) for details of apportionment of interest and principal for each loan repayment throughout the loan tenor, the method of apportionment and the incurred fee(s). You are advised to make comparison and consider thoroughly before deciding whether to choose an early repayment.

6.    Rights of Third Parties:

6.1 Subject to Clause 6.3, a person who is not a party to this Agreement has no right under the Contracts (Rights of Third Parties) Ordinance (Cap. 623 of the Laws of Hong Kong) (the "Third Parties Ordinance") to enforce or to enjoy the benefit of any term of this Agreement. 

6.2 Notwithstanding any term of this Agreement, the consent of any person who is not a party to this Agreement is not required to rescind or vary this Agreement at any time.

6.3 Any director, officer, employee, affiliate or agent of the Card Company may, by virtue of the Third Parties Ordinance, rely on any provision of this Agreement (including without limitation any indemnity, limitation or exclusion of liability) which expressly confers rights or benefits on that person.

General Terms

  • BOC Express Cash Instalment Loan and BOC Express Cash Instalment Loan Balance Transfer are the products of the Card Company. The Card Company is a member of the BOCHK Group.
  • Each Eligible Customer can only enjoy the above offer only once. This offer cannot be used in conjunction with other promotion offer that are not listed in this promotion material.
  • The above products are subject to the relevant terms of the BOC Express Cash Instalment Loan and BOC Express Cash Instalment Loan Balance Transfer.
  • The credit rating of each customer must fulfill the requirements of the Card Company. The approved APR may vary on a case-by-case basis, subject to the credit rating of each individual customer, loan amount and repayment tenor. Approval of the loan amount, repayment tenor and interest rate are all subject to the final decision of the Card Company without providing any reason.
  • The Card Company reserves the right to amend, suspend or terminate the above products and offers, and to amend the relevant terms at any time at its sole discretion without prior notice.
  • In case of any dispute, the decision of the Card Company shall be final.
  • Should there be any discrepancy between the English and Chinese versions of this promotion material, the Chinese version shall prevail.