"Easi-Personal Loan" Application Form and Terms and Conditions
Explanation and Example of APR, "Rule of 78" and Repayment for Instalment Loans
Key Facts Statement (KFS) for Instalment Loan

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Do I save interest expenses by making early repayment of personal instalment loan?

Please refer to section E of "Explanation and Example of APR, "Rule of 78" and Repayment for Instalment Loans" above. Please contact our staff if you intend to make an early repayment.

Terms of the Promotion:

1. "Easi-Personal Loan" Tax Season Loan Promotion ("the Promotion") is only applicable to customers who successfully apply for "Easi-Personal Loan" (the "Loan") from 8 November 2019 to 31 January 2020 (both dates inclusive) ("Promotion Period"), and draw down the Loan on or before 29 February 2020.
2. All Annualised Percentage Rates ("APRs") are calculated using the Net Present Value Method in accordance with the Code of Banking Practice. An APR is a reference rate which includes the basic interest rate and other fees and charges of a product expressed as an annualised rate. The APR calculation includes the handling charge. The handling charge for the Loan is charged at 1% for each year or part thereof. (Thus 2% for the loan tenure of 18 and 24 months). The APR and monthly repayment amount are rounded to the nearest 2 decimal places.
3. The APR of 2.92% is calculated based on a loan amount of HK$500,000 with repayment tenor of 12 months and a monthly flat rate of 0.046%, including an annual handling fee of 1%.
4. The minimum loan amount for the Promotion is HK$10,000. The maximum loan amount for the Promotion is up to 12 times of the monthly salary or HK$2,000,000 (whichever is lower).
5. The requirements of customer's credit quality determined by Nanyang Commercial Bank, Limited ("the Bank") are required to be fulfilled. The approved APR may vary on a case-by-case basis, subject to the credit quality of each individual customer, the result of credit check and other related factors. The final approval of application, loan amount, repayment tenor and loan interest rate are all subject to the final decision of the Bank without providing any reason.

General Terms:

• The apportionment of loan principal and interest in each monthly installment amount are calculated according to the "Rule of 78", please visit our website or contact our staff for details.
• Early Repayment Fee:
  • 2% of outstanding amount will be charged if the customer fully repays the Loan before loan maturity date as early repayment fee. Only full repayment of the Loan is permissible provided that prepayment shall be the sum of all the remaining instalments of the Loan after deducting the interest rebate on "Rule of 78" basis. Please contact our staff for the "Rule of 78" computation method. Customers are advised to pay attention on whether interest expenses would be saved by making early repayment of personal instalment loan. For enquiring the relevant fees and charges of loan account, please contact our staff. For the "Explanation and Example of APR, "Rule of 78" and Repayment for Instalment Loans" , please refer to our bank's website (Private Banking > Loan Services > Personal Loan > Easi-Personal Loan).
• Third Party Rights:
  1. Subject to this Clause (iii), a person who is not a party to this promotion material 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 such Application Form and/or these Conditions.
  2. Notwithstanding any term of this promotion material and/or these Conditions, the consent of any person who is not a party to such promotion material is not required to rescind or vary such promotion material and/or these Conditions at any time.
  3. Any director, officer, employee, affiliate or agent of the Bank or any of the Bank's Related Parties may, by virtue of the Third Parties Ordinance, rely on any provision of this promotion material and/or these Conditions which expressly confers rights on that person.
• The above promotion is subject to the relevant terms and conditions of the "Easi-Personal Loan". The Bank reserves the right to offer other interest rates, loan tenors or personal loan plans subject to the approval result of each customer.
• The above example is for reference only. For loan and offer details, interest rates, handling fees, APR, terms and conditions, please contact our staff or refer to application form.
• The Bank reserves the right to amend, suspend or terminate the above product and offers, and to amend the relevant terms at any time at its sole discretion without prior notice. All matters and disputes will be subject to the final decision of the Bank.
• Should there be any discrepancy between the Chinese and English versions of this promotion material, the Chinese version shall prevail.