ZA Bank’s Rate Watch offers $114 for lower interest proof

Users can still receive up to $24.20 even if a loan application is unsuccessful.

ZA Bank has introduced its Rate Watch Offer, which rewards users with $114 (HK$888) if they secure a loan at a lower interest rate approved by another financial institution. 

Users can claim the cash reward by submitting relevant proofs and passing the internal verification, with no requirement to draw down the loan. Even if a loan application is unsuccessful, users can still receive a reward of up to $24.20 (HK$188).

The launch of ZA Bank’s tax season loan in early November, with an annualised percentage rate reduced to 1.3% from last year’s 1.8%, has boosted its lending business. The bank reported a 10% increase in loan applications compared to the same period last year, along with a 40% rise in the average loan amount.

$1 = HK$7.77