Key Facts Statement for Instalment Loan:
1. | The minimum and maximum repayment period is 3 months and 60 months respectively. |
2. | The maximum annual percentage rate is 48%. |
3. | A representative example of total cost for a loan below is for reference only: |
- Loan amount: HK$10,000 | |
- Monthly instalment of HK$1,815 for 6 months | |
- Interest rate: 2.5% per month | |
- Annual percentage rate: 30% | |
- Total repayment amount: HK$10,890 |