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MortgageOne®
Maximise interest savings with MortgageOne®
By placing deposit in MortgageOne®, it helps you to save interest. The interest calculated is based on the outstanding loan principal of the month net of your deposits balance with us.
Benefits of MortgageOne®
- Any amount you deposit into your MortgageOne® goes directly towards reducing your outstanding net balance, which means less interest incurred1. So you can own your home faster and easier.
- You can withdraw your deposits whenever you want.
- You will receive a consolidated monthly statement, in which each transaction in your savings, current and mortgage account, will be clearly stated for easy reference.
Example
(i) Loan size: HK$2,000,000
(ii) Deposit Balance: HK$280,000
(iii) Monthly Deposit Amount: HK$4,000
| Conventional Mortgage Plan | MortgageOne® | |
| Interest rate (p.a.) | P-3.2% = 2.05% | P-3% = 2.25% |
| Total interest payment | HK$557,757 | HK$371,587 (save 33.3%) |
| Tenor | 300 months | 187 months (shortened by 37.6%) |
The example above is for reference only. Assuming: 1. Loan tenor is 25 years. 2. Standard Chartered Hong Kong Dollar Prime Rate (P) is 5.25% (as of 12 April 2010). 3. The mortgage loan redeemed early at a specific point of time (see Tenor). 4. The savings result above excludes the financial fees (wherever applicable), the monthly deposit service charge or refinancing charge. For details, please contact our branch staff.
Act Now!
Visit your nearest branch or call our hotline and talk to our Mortgage Consultant right now.
| Remark: | |
| 1. | Monthly repayment, length of the MortgageOne® repayment period and whether or not there are interest savings are subject to various factors such as loan amount, loan tenor deposit balance etc. The final amount saved does not take into account any other fees such as deposit service change, handling fee and annual maintenance fee (if applicable). For details of calculation, please contact branch staff. |
| Important Notes: | |
| • | The deposit credited to a MortgageOne® Account is not a protected deposit and is not protected by the Deposit Protection Scheme in Hong Kong. The repayment of the deposit credited to the MortgageOne® Account is not guaranteed by the Hong Kong SAR Government's Exchange Fund which will expire at the end of 2010. |
| • | The arrangement fee and annual maintenance fee of MortgageOne® are HK$2,000 and HK$500 respectively. |
| • | Terms and conditions apply. For detail, please contact our branch staff. |