Press Release November 1, 2000


Dah Sing Bank Launched Tax Installment Loan
Interest Rate as low as 3.57% p.a. and "On-line Cash Rebate"

Dah Sing Bank is always aggressive in developing personal loan products and is pleased to announce the launch of Tax Installment Loan with interest rate as low as 3.57% p.a. and an innovative "On-line Cash Rebate" feature, allowing customers to enjoy a cash rebate up to HK$3,000 through the internet.

The usual practice of cash rebate program of most banks will take into account the approved loan amount of the customers, the larger the loan size, the more cash rebate the customers can earn. Unlike others, Dah Sing Tax Installment Loan guarantees a minimum cash rebate at HK$200 for whatever loan amount and can be as much as HK$3,000. Customers just need to register at www.dahsing.com between November 2, 2000 to November 8, 2000 and drawdown their loan on or before November 30, 2000 to enjoy such cash rebate. The cash rebate amount assigned to each customer will be randomly assigned by computer and will be announced through the internet starting from November 10, 2000. The cash will be credited to customers' Dah Sing Credit Card account afterwards.

On top of competitive interest rate and "On-line Cash Rebate", Dah Sing Tax Installment Loan offers a loan amount up to 200% of tax bill or HK$500,000 (whichever is lower) and loan tenor ranging from 6 months to 24 months.

Interest Rate Tables
For Preferential Customers
Loan Amount (HK$)
Monthly Flat Rate
Annualized Percentage Rate
[Monthly Repayment Amount per HK$1,000 Loan Amount]
6 Months
12 Months
$400,001 - $500,000
0.22%
6.24% ($169.71)
6.81% ($86.39)
$100,001- $400,000
0.31%
7.66% ($170.62)
8.63% ($87.30)
$50,001 - $100,000
0.34%
7.59% ($170.92)
8.94% ($87.60)
$20,001 - $50,000
0.40%
6.73% ($171.52)
9.16% ($88.21)
$5,000 - $20,000
0.75%
3.57% ($175.04)
11.46% ($91.74)

 

For General Customers
Loan Amount (HK$)
Monthly Flat Rate
Annualized Percentage Rate
[Monthly Repayment Amount per HK$1,000 Loan Amount]
6 Months
12 Months
$100,001- $300,000
0.35%
8.54% ($171.02)
9.57% ($87.70)
$50,001 - $100,000
0.40%
8.91% ($171.52)
10.36% ($88.21)
$20,001 - $50,000
0.50%
8.93% ($172.53)
11.53% ($89.22)
$5,000 - $20,000
0.95%
7.92% ($177.05)
16.24% ($93.76)
1.
The above annualized percentage rates have already included the HK$200 guaranteed cash rebate as well as the credit life insurance premium. Credit life premium equals to 1% p.a. flat on the loan amount for tenor less than 13 months. For loan tenor of 13 months or above, the credit life insurance will be at 2% p.a.
2.
Preferential customers include property owners, civil servants, professionals, educational workers and Dah Sing Credit Card customers. 0.22% interest rate only applies to individual property owners.

 

Ms. Shera Lee, Deputy General Manager of Dah Sing Bank said, "In order to be in line with the business direction of Dah Sing Bank on internet banking and to make our tax loan program more interesting, we offer the "On-line Cash Rebate". In the future, we will keep on incorporating internet features to other banking products so as to provide a more comprehensive range of services to our customers."

 

Dah Sing Tax Installment Loan Hotline : 2828 8111
On-line Application : www.dahsing.com

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