Press Release December 7, 2000


Dah Sing "Revolving Tax Loan"
Offers Fixed Interest Rate at 5.75% p.a. Across the Board

As the tax season is approaching, major market players have already launched their tax loan offers to attract business. With the objective to cater the financial needs of different customers, further to the launch of the fixed tenor Tax Installment Loan, Dah Sing Bank specially launch another tax loan product that bears the revolving nature - Revolving Tax Loan and allows customers to enjoy the most privileged and flexible revolving cash.

Customers of the Dah Sing Revolving Tax Loan will enjoy an interest rate at 5.75% per annum on whatever loan amount until March 31, 2001 and thereafter floating rate at Prime Rate per annum will be offered (i.e. Currently at 9.5%).

Interest Rate Table
Loan Amount (HK$)
Fixed Interest Rate Across the Board
$5,000 - $20,000
5.75% per annum
$20,001 - $50,000
$50,001 - $100,000
$100,001 - $400,000
$400,001 - $500,000
Note : Annual fee equals to 1% of loan amount (Minimum HK$500)

The offer of other banks' tax revolving loan usually applies with restrictive conditions. For instance, the low interest rate only applies to customers with large loan size, or else, the low interest rates or cash rebate are offered only subject to the customers' monthly repayment cannot exceed the minimum payment amount. Unlike other banks in the market, the Dah Sing Revolving Tax Loan instantly offers the most attractive interest rate package and flexible cash with no restriction at all. Customers of Dah Sing Revolving Tax Loan can choose to repay more than the minimum payment (5% of statement balance) or settle the outstanding loan amount at any time in full without any penalty or handling fee.

The Dah Sing Revolving Tax Loan offers a loan amount of up to 200% of the tax bill or HK$500,000 (whichever is lower) without any fixed tenor for repayment. Moreover, the available loan amount will be restored automatically after every repayment and customers can revolve their loans at any time without having to reapply or to resubmit income proof. Furthermore, no cash withdrawal fee will be charged.

Miss Shera Lee, Deputy General Manager of Dah Sing Bank, said, "In order to provide the most privileged benefits to our customers, the Dah Sing Revolving Tax Loan offers the most attractive interest rate package with no restriction at all. Every customer, no matter what the loan size is will enjoy the same interest rate across the board."

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