Debts Consolidation Loan

Ease your interest burden in one move.

UA O2O all-round solutions help you to clear all credit card debts instantly and enjoy a better financial planning.

  • Minimize your interest expenses
  • Flexible repayment terms
  • Tailor-made interest rate


Apply Now
Comparison Table for UAF Debts Consolidation Loan vs Credit Card Repayment
 
  UAF Debts Consolidation Loan   Credit Card Repayment
Interest
  • Much lower than credit card's
  • Simple interest calculation
  • Fixed interest rate which will not be adjusted during repayment period
 
  • Annual interest rate is around 35%, some banks even fix more than 40%
  • Compound interest calculation
  • Interest rate can be adjusted from time to time during the repayment period
Repayment Amount
  • Fixed monthly repayment amount unless the borrower has made special request
  • Most of the payment is repaid for the principal
 
  • Repayment amount can be adjusted according to the borrower's financial status but minimum monthly payment has to be 5% of the balance
  • Most of the payment is repaid for the interest
Repayment Period
  • Less than 5 years according to the borrower's financial status in most cases
 
  • Repayment period could be up to 10 - 20 years if only minimum payment is being settled every month
Annual Fee
  • Waived
 
  • Applicable

 

Case 1:

Michael is the senior management of a media company, earning a monthly income of HK$125,000. Money is not a big worry for his family. Unfortunately, he has been in the red after losing a great deal of money during the economic tsunami. His financial situation has been worsened as he has to repay HK$33,000 for two mortgage loans each month. This leaves him with no choice, but to use credit card and cash advance services to settle daily spending and other utility bills. In fact, the interest rate of credit card debts is alarmingly high and cash advance service requires extra handling fee. Michael has eventually accumulated a huge amount of debts, which is HK$1,890,000 in total. He can only afford the minimum payment every month. Facing this enormous financial burden, he seeks help from UAF through his friends. UAF offers him a comprehensive financial plan to clear all credit card debts at once with our signature product, "UAF Debts Consolidation Loan", sharply reducing his interest expenses as high as 81%!

 

Interest Expenses Comparison Table:

 

 Debts Consolidation Loan

 

  

Case 2:

Miss Lam has a stable monthly income of HK$28,000 as a marketing professional, but she is a typical shopaholic and usually pays by credit card. Not for long, she has a troubled debts of HK$570,000 and can barely pay the 5% minimum payment amount. At this difficult moment, Miss Lam finds out from advertisements that UAF’s Debts Consolidation Loan can help her to repay all credit card debts at once, significantly reduce the interest expenses and offer her a flexible repayment tenor as a total solution. Therefore, she finally approaches UAF and successfully gets a loan of HK$570,000 to repay all debts within half day. In addition, she is also offered an e-Cash Revolving Loan of HK$100,000 for her future use. As long as she does not drawdown any e-Cash Revolving Loan, no interest will be charged. With the help of UAF, Miss Lam only needs to repay $15,010 per month, with a loan tenor of 48 months at an interest rate far below her credit cards, saving up to 81%.

 

Interest Rate Comparison Table:

 

Debts Consolidation Loan 

 

Miss Lam shared, "Compared to the credit card burden, I am free from heavy debts and even able to save some pocket money for myself now!"

 

 

 

* The above cases are calculated based on the assumptions and are for reference only: 1) the credit card minimum monthly payment amount should be equivalent to 5% of the total account balance, 2) the credit card average monthly repayment amount for the first six months is calculated at an annual percentage rate (APR) of 36% and 3) the APR of UAF Debts Consolidation Loan is assumed at 12%. The actual repayment tenors and saving of monthly repayment amount, varying from case to case, largely depends on the credit card monthly minimum payment amount and its interest rate.