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.
“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.