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Unemployed people can apply for a special loan of 80,000 yuan from Wednesday to see the information of 10 participating banks

2021-04-29T10:04:34.650Z


In this year's "Budget", Financial Secretary Chen Maobo announced the establishment of a "100% Guaranteed Personal Preferential Loan Scheme" to allow the unemployed to apply for preferential loans up to 80,000 yuan. The HKMA announced today that the plan will be


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Written by: Zhong Yan

2021-04-27 17:58

Last update date: 2021-04-27 18:01

In this year's "Budget", Financial Secretary Chen Maobo announced the establishment of a "100% Guaranteed Personal Preferential Loan Scheme" to allow the unemployed to apply for preferential loans up to 80,000 yuan.

The Monetary Authority announced today that it plans to accept applications from tomorrow (28th) for a period of 6 months. 10 banks including Bank of China, HSBC, Hang Seng, and Standard Chartered will participate. People in need can apply to the relevant banks.

Chen Maobo proposed in the budget to provide 100% guaranteed loans to people who have been unemployed for more than two months.

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The loan amount is 6 times the original average monthly income and the maximum borrowing is 80,000 yuan

The HKMA stated that Hong Kong permanent residents who are over 18 years old and have been unemployed for at least two months can apply for loans.

The repayment period is up to 6 years, and the actual annual interest rate is fixed at 1%. You can choose to repay the interest for the first 12 months without repaying the principal. If you pay off the loan before the repayment period, you can get all the interest paid back.

To apply for a loan, the applicant needs to provide proof of at least 3 months of work and main current income between January last year and February this year, as well as a statement and proof that he has been unemployed for at least two months during the loan application period. You can borrow 6 times the original average monthly income, with a minimum of 5,000 yuan and a maximum of 80,000 yuan.

100% Guaranteed Personal Loan Program Details

Applications can be submitted to the bank from April 28

According to the HKMA, applicants can apply through 10 banks including Bank of China, Bank of East Asia, Hang Seng Bank, HSBC and Standard Chartered Bank from April 28, and Chiyu Bank and Zhongan Bank will accept applications in May. Apply, and said that other lending institutions will continue to join.

Financial Secretary Chen Maobo said that he hopes that people who have lost their main regular income with the plan will have supplementary financial options to help cope with temporary difficulties.

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Source: hk1

All news articles on 2021-04-29

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