- Instant $200 cash reward upon successful account opening for new and existing customers
- Interest charged on daily basis#, no charge for unused credit line^
- Revolving credit limit upon repayment
Jacky earns around HK$59,000 per month by running a boutique. He will get married soon and worries about the expenses of wedding party and honeymoon as he has spent much on the decoration for his boutique recently. Recommended by his friend, he applied UA e-Cash Revolving Loan. With simple application procedure and no interest charge for unused credit^, HK$200,000 e-Cash Revolving Loan credit is approved for his urgent needs. From now on, he doesn’t need to worry about his wedding expenses and has extra cash for running his business.
Mandy is a financial analyst. She wanted to take the opportunity to invest on some popular stock. However, her family suddenly needed a large amount of money for unexpected use, so she didn’t have enough capital for further investment. Mandy heard about UA e-Cash Revolving Loan from advertisement and she decided to apply it through the branch. Finally, UA approved a credit amount of HK300,000 to her and she has not missed this valuable investment opportunity. Most important of all, no interest will be charged for unused credit^. And now, Mandy can transfer cash to her designated account via internet or phone even when she is having business trip.
Jacky's Financial Profile
|Occupation||Owner of a boutique|
|Operating years||2 years|
|Expense of wedding party||HK$150,000|
|e-Cash Revolving Loan amount||HK$200,000|
Mandy's Financial Profile
|Years of servicing||5 years|
|Capital needs for investment||HK$230,000|
|e-Cash Revolving Loan amount||HK$300,000|
`Instant electronic transfer service is not available during the system maintenance period (Monday to Sunday 9:00pm-12:00am, Sunday 12:00am-8:30am and 1:45pm-3:15pm) and subject to the limitation of individual bank’s service terms and conditions. The accumulated daily withdrawal amount is HK$50,000 or below (No limitation within the Company’s business hours).
#Interest is calculated from the day of payment instruction issued by the company.
^In accordance with the loan agreement, customers are obliged to pay the account annual fee.
Key Facts Statement for Revolving Loan:
- The minimum and maximum repayment period is 3 months and 12 months with annual renewal (but all terms and conditions of the approved loan will be reviewed and approved on a yearly basis).
- The maximum annual percentage rate is 48%. The actual interest charged will be calculated based on the actual withdrawn amount by the customer.
- A representative example of total cost for a loan below is for reference only:
- Withdrawn loan amount: HK$10,000
- No. of days used: 70 days
- Annual percentage rate: 30%
- Total interest: HK$575 (= HK$10,000 x 30% x 70 / 365)
- Total repayment amount: HK$10,575