Priority Banking
Tax Loan
Your family bond our family bonus
LinkOne™ the banking revolution for smarter mortgage and savings, introduces FamilyLink.
How does FamilyLink work for you
You and your family members will earn bonus interest when you link everyone's deposit account and your mortgage loan through FamilyLink.
Your benefits:
- Enjoy bonus interest on your deposits on top of normal interest
- Repay your mortgage loan faster by using normal and bonus interest earned to offset your outstanding mortgage principal balance
- Use the interest to start a financial plan for your family, indulge yourself, or your loved ones in any way you want. It's really up to you!
How does FamilyLink benefit your family
Your family members can link their Hong Kong Dollar deposit accounts to your FamilyLink so that they can enjoy the bonus interest too.
Your family members' benefits:
- Enjoy bonus interest
- Maintain full control of their money as the deposit accounts continue to operate independently
How FamilyLink has made a difference to our customers' lives
Robert Ma, 31 and wife, Julie, 29, first time homeowners, like traveling, enjoy life
Pay off mortgage faster
"With the normal and bonus interest earned from linking all our deposit accounts to FamilyLink, we're on our way to paying off our mortgage faster than expected. Now, Julie has even more money for shopping and I have a bigger budget for my gadgets! Best of all, we still operate our own accounts independently."
The following example* shows how Robert Ma can benefit from FamilyLink:
Mortgage Loan : HK$1,000,000
- Mortgage loan interest rate is 2.75% p.a.
- Customers maintain FamilyLink and the bonus interest rate is at 0.8% p.a.. Normal interest rate is at 0.01%p.a.
- Monthly savings remain constant
- Lump sum savings remain in the deposit account till the end of repayment period
- Monthly interest earned will be used to offset the outstanding mortgage principal balance
- Compound effect on all interest earned is included
- Actual interest expenses and the shortened tenor are calculated based on the comparison of scenarios with and without joining FamilyLink, other assumptions remain unchanged
The example is for reference only. For details, please contact our staff.
Marcus Lee, 45, breadwinner, businessman who does not have time to manage personal finance
Capitalise on investment opportunities
"I just link all my accounts to my FamilyLink and each deposit account will earn bonus interest. Not only does FamilyLink give me a secure yield, it also helps to repay my mortgage faster. And whenever there is an investment opportunity, my deposits can be withdrawn at any time.
Now every dollar in my account works harder."
Lucy and Ronald Wong, mid-30s, with a young child, family first
Indulge more
"FamilyLink rewards us with bonus interest, which we can use for planning a better future.
Life couldn't be more perfect!"
Yeung Li Li, 25, free and easy
Give it away
"I got my parents to link their savings accounts to my FamilyLink so they too can enjoy the same privilege. With this bonus interest, my parents can enjoy their retirement even more!"
Frequently asked questions
- Can I benefit from FamilyLink?
- Yes, definitely. FamilyLink can benefit anyone who wants to maximise the power of his or her savings.
- How can I use the normal interest and bonus interest to work for me?
- You can choose to use the normal interest and bonus interest to offset your outstanding mortgage principal balance and save more on mortgage interest. Or, you can choose to keep all the interest in your deposit account.
- When I link my mortgage with my family members’ deposit accounts under FamilyLink,
does that mean all the money will be consolidated?- No. You and your family members can continue to bank the way you have always done and operate each account independently.
- How can I find out how much interest I've earned?
- You will receive a LinkOne™ Monthly Statement which you can see the aggregate bonus interest earned since enrolment of FamilyLink. Also, you can see the bonus interest earned by each linked account for the month.
- Does it mean that everyone linked to FamilyLink can see each other's account transaction details?
- Each account operates independently and transaction details will be shown on their respective Consolidated Statement only.
Remarks :
- Bonus Interest (if any) will be credited to linked accounts (i.e. specified accounts) after Normal Interest paid.
- The sum of Normal Interest Rate & Bonus Interest Rate should be less than or equal to the applicable interest rate of the mortgage account.
- Bonus Interest Rate is determined by Standard Chartered Bank (Hong Kong) Limited ("the Bank") and is subject to change at the Bank’s sole discretion from time to time.