Low Interest Rate Loan in HK
Looking for personal loans with low interest rate? Check out the best low interest rate loan below and FAQs before getting a loan.
What is a low interest rate loan?
A low interest rate loan only focuses on interest rate alone, but handling and administrative fees are not taken into account. To make an informed decision, loan borrowers are recommended to compare the Annual Percentage Rates (APR) of personal instalment loans when choosing the best personal loan.
What is Annual Percentage Rate (APR)?
APR reflects all expenses of your loans including interest rate, admin fees, handling fees etc. If you only consider the monthly flat rate when comparing the personal loan that you would like to apply for, you may be surprised by the hidden charges.
Best Low Interest Rate Loans in HK
DBS Personal Instalment Loan
- APR as low as*
- 5.91%
- Total Amount Payable
- HK$209,600
- Total Interest Payable
- HK$9,600
- Monthly Payment
- HK$8,733
【🔝Offer Upgrade!】Customers who successfully apply and drawdown DBS Personal Instalment Loan via MoneySmart can get up to HK$12,000 rewards + Extra up to HK$7,200 PARKnSHOP Supermarket Voucher/ Apple Store Gift Card! Get up to a total HK$19,200 reward!
WeLend Personal Loan
- The lowest APR
- 1.88%
- Total Amount Payable
- HK$205,760
- Total Interest Payable
- HK$5,760
- Monthly Payment
- HK$8,573
【🔝Limited-time Offer in August】Total rewards up to HK$21,500!
From now until 31 August 2024, selected customers can receive up to HK$21,500 Rewards upon successful draw down!
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【MoneySmart Exclusive】Rewards up to HK$2,500🎉
From now until 31 August, apply for WeLend Personal Loan via MoneySmart, you can earn an extra 1️⃣ 5,000 SmartPoints *(can redeem value of HK$500 vouchers or products)*regardless of Approval! Successfully apply and drawdown the designated amount of Loan, can even earn extra 2️⃣ 20,000 SmartPoints (can redeem value of HK$2,000 vouchers or products)! Click here to explore limitless possibilities (T&C applied)!
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【Want more? －WeLend Limited-time Offer! Regardless of Approval】
From 24 June to 31 August (both dates inclusive), new customers who have applied for the designated Personal Loan through designated online channels with a net applied loan amount of HK$100,000 or above, have completed the entire application process (including checking of credit report) and have submitted all required documents and information during the Promotion Period, regardless of approval result, shall be eligible to receive a HK$1,000 travel voucher (“Gift”).
PrimeCredit Fixed Loan
- The Lowest APR
- 1.18%
- Total Amount Payable
- HK$202,400
- Total Interest Payable
- HK$2,400
- Monthly Payment
- HK$8,433
【Final Call! 🔝🏝️MoneySmart August hot summer exclusive offer】 From now until 20 August, successfully apply for PrimeCredit Fixed Loan / PrimeCredit Balance Transfer Loan / PrimeCredit Civil Servant & Professional Loan via MoneySmart, you can earn extra HK$500 vouchers (given out as 5,000 SmartPoints) regardless of approval! T&Cs apply.
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Frequently Asked Questions on Loan with Low Interest Rate
Should I choose a personal instalment loan with the lowest monthly interest rate?
- Monthly interest rate should not be the only criterion when it comes to choosing personal instalment loan. You also need to take handling fees into consideration so MoneySmart suggests that borrowers should compare the Annual Percentage Rates (APR) of personal instalment loans instead.
How to calculate monthly interest of personal loan?
- To calculate monthly interest, you need to know the total loan amount, monthly flat rate and repayment period of the loan plan.
What should I consider before applying for a personal instalment loan?
- It is important to understand your financial situation and repayment ability before taking out a loan. It is important not to apply for a loan from a financial institution with a bad reputation. You can read more tips about getting a personal loan on MoneySmart.