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RETAIL BANKING | Staff Reporter, Hong Kong

Hang Seng Bank unveils 1-year fixed-rate mortgage plan

It offers a rate of 1.68% per annum.

Hang Seng Bank announces the launch of a one-year fixed-rate mortgage promotion that offers a rate of 1.68% per annum. The subsequent mortgage rate will be the Hong Kong InterBank Offered Rate (HIBOR) plus 1.3% per annum, capped at Prime Rate minus 2.85% per annum.

Customers who apply for the Hang Seng Fixed-Rate Mortgage Plan between 14 February and 31 March 2018 and successfully draw down their loan on or before 30 June 2018 can avail the above-mentioned rates while quota lasts. The eligible loan amount ranges from HKD 1 million to HKD 10 million, with a maximum loan tenor of 30 years.

The Hang Seng Fixed-Rate Mortgage Plan is applicable to purchase of primary and secondary market residential properties and to refinancing mortgages. The mortgaged properties can be purchased for any purpose, including self-occupancy and rental. The Plan is also applicable to the bank's Mortgage Insurance Programme. Those who borrow HK$3 million or above can also apply for the Mortgage-Link Loan Scheme to get a preferential savings deposit rate.

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