Hong Kong’s ZA Bank launches debt consolidation program Debt Changer

Users can defer payment for a month for every 12 month tenor they take.

Hong Kong’s ZA Bank has launched Debt Changer, a debt consolidation program which enables users to defer repayment for up to 6 months.

Users who sign up between now and 31 March can choose one month to defer their payments for every 12-month tenor that they take. For every 12 months, the user will earn a Payment Holiday Coupon, with a maximum of 6 coupons, according to ZA Bank. Upon application of the token, the user can enjoy a “holiday” for one installment, for a maximum of 6 installment holidays.

Users can choose a repayment schedule of up to 72 months.

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“We are pleased to introduce this new debt consolidation program to further enhance users’ digital banking experience. Paying off debts is an important element of a healthy financial lifestyle for users. With “Debt Changer”, we look forward to standing with our users in tackling their debts and planning for a hassle-free life,” said Devon Sin, Alternate Chief Executive at ZA Bank, regarding the launch of Debt Changer.

 Users can submit their applications via the ZA Bank app.