BEA unveils 2013-2014 tax loan programme

It'll run until 18 December.

According to a release, the Bank of East Asia has launched its 2013-2014 tax loan programme for personal customers, which will run until 18th December, 2013. The programme includes two plans, offering attractive rates and instant, guaranteed approval.

“At BEA, we want to make tax season as stress-free as possible for our customers,” says Mr. Vincent Hui, General Manager and Head of Personal Banking Division. “With instant, guaranteed approval of 100% of your tax bill, you can relax knowing that your financial obligations are taken care of.”

Customers can receive instant, guaranteed approval of a loan amount equal to their tax bill (up to HK$30,000) if they submit an application at a BEA branch, or through an i-Teller or the BEA website. Two separate plans are available, tailored for customers with different needs.

BEA’s exclusive plan for new customers offers an Annualised Percentage Rate of 1.92% (0.086% per month flat), capped at 100% of the applicant’s tax bill amount or HK$30,000 (whichever is lower), plus a full waiver of the arrangement fee.

Meanwhile, both new and existing customers are eligible for BEA’s preferential tax loan plan, with a range of packages available. Customers can apply for a loan amount of up to ten times their monthly basic salary (with a maximum loan amount of HK$1,200,000) at an APR as low as 2.61% (0.117% per month flat). Additional benefits include flexible repayment terms of up to 24 monthly instalments, and a full waiver of the arrangement fee. 

As an added incentive, PARKnSHOP Gift Coupons worth up to HK$800 will be offered to customers who draw designated loan amounts with a repayment period of 24 months. New BEA customers can receive additional PARKnSHOP Gift Coupons worth HK$500 if they draw a loan amount of HK$50,000 or more.

Customers can apply for a BEA personal tax loan in person at any BEA branch or i-Financial Centre; by phone, fax, or mail; online; or by using the BEA iPhone/Android App.