Education Loan 

OCBC Wing Hang Credit Limited (“Company”) is the wholly-owned subsidiary of OCBC Wing Hang Bank Limited. The Company is the entity which processes the application of the Education Loan and provides the loan and related services. Customer can submit application through the branches of the Company and OCBC Wing Hang Bank Limited. To enquire the relevant terms and conditions, please contact the staff of the Company.

Notes regarding the Education Loan:

1. Annualized percentage rate("APR") is a reference rate which includes the basic interest rates and other fees and charges of a product expressed as an annualized rate. The APR ranged from 3.30% to 48% generally and the minimum repayment period and maximum repayment period is of 6 months to 60 months. APR is calculated according to the method set out in the relevant guidelines under the Code of Banking Practice issued by the Hong Kong Association of Banks as the basis. The APR has been corrected to 2 decimal places. If the loan amount is $1,000,000, the monthly flat rate for 12 months and 24 months is 0.063% and 0.065%, if the loan is approved finally by the Company, the APR for 12 months and 24 months is 3.30% and 3.50%, with a handling fee of 1% per annum included, the total loan repayment amount is HK$1,007,532 and HK$1,015,560. The loan handling fee is to be paid in full upon loan drawdown. The interest rate is calculated based on 365 days per year. Example is for reference only.  The APR may differ with different loan amounts and tenors.  For details, please contact our staff.

2. Customer should open a deposit saving account in OCBC Wing Hang Bank and uses it as the repayment account of the Education Loan.

3. This privilege is applicable to customer who has successfully applied for and drawn the Loan with loan amount of HK$50,000 or above and loan tenor of 12 months or above. Each customer can only enjoy this privilege once. The Cash Coupon will be sent to customers’ correspondence address according to the Company’s record by mail within 6 weeks after the loan drawdown. Should the Cash Coupon be lost (including but not limited to delivery loss), stolen or destroyed, the Company will not reissue the Cash Coupon and will not bear any responsibility, nor be liable for any compensation. The Company is not the supplier of the Cash Coupon. The supplier is responsible for all the related responsibilities and obligations of the Cash Coupons. The Company is not liable for any related responsibilities and obligations of the Cash Coupon and will not provide any kind of guarantees and warranties regarding the Cash Coupon (express or otherwise). Should there be any dispute or complaint or claim (if any) with regard to the coupon, customers should make such demand or claim directly with the supplier. All Cash Coupons cannot be exchanged into cash or other discount and are subject to the terms and conditions imposed by the supplier.

4. This privilege is only applicable to customer who has successfully applied for and drawn the Loan with loan amount of HK$200,000 or above and loan tenor of 24 months or above. Each customer can only enjoy this privilege for up to 10 times. To enjoy this privilege, customer must submit the copy of the receipt of telegraphic transfer which is issued by OCBC Wing Hang Bank (where the country of the payee’s bank should match with the country where the education institution is located as provided in the application form and tuition fee proof/student card) within 1 month after using the telegraphic transfer service and before the settlement date of the Loan. The telegraphic transfer handling fee paid by the customer will be disbursed to eligible customers’ OCBC Wing Hang Bank repayment account within 1 month after submission of the copy of the receipt of telegraphic transfer. Customer should have no more than 14 days of accumulated late repayment record on or before the date of disbursement in order to enjoy this privilege. 

5. This privilege is only applicable to customer who has successfully applied for and drawn the Loan with loan amount of HK$200,000 or above and loan tenor of 24 months or above. Each customer can only enjoy this privilege once. Customer must have successfully paid full amount of at least 6 monthly instalments with no more than 14 days of accumulated late repayment record on or before the date of Scholarship disbursement, and submit the copies of Certificate of Graduation or Transcript (where the student name, educational institution name and course name should match with those provided in the application form and as listed in tuition fee demand note/student card) within the period from 6th instalment repayment due date to the settlement date of the Loan in order to enjoy this privilege. The Scholarship will be disbursed to eligible customers’ OCBC Wing Hang Bank repayment account within 1 month after submission of the Certificate of Graduation or Transcript. The Scholarship applicable to loan amount HK$600,000 to HK$1,200,000 is HK$2,500 and the Scholarship applicable to loan amount HK$200,000 to HK$599,999 is HK$1,000.

Customers who are entitled to the offer of Education Loan (the "Offer") and the Promotion are bound by the terms and conditions of the Promotion, related loan application form and loan documents. Please contact the staff of the Company for details and enquiries of related terms and conditions and charges details. Loan amount, interest rate, monthly repayment amount and repayment tenor applicable to individual applicant may be different and is based on the final approval status of the Company; please contact the staff of the Company for details and enquiries. The Company reserves the right to amend, extend, suspend, terminate or cancel the Promotion and/or the terms and conditions or any parts thereof from time to time and at any time without prior notice or consent. In case of any dispute, the decision of the Company shall be final and conclusive. The Company reserves all the final decision on determining the interest rates, amending the terms and conditions in respect of the Loan, and approving the loan application. Reference will be made to the customer’s credit reports and the Company reserves the right to reject the loan application without specifying any reasons for its decision and interpretation, which shall be final, conclusive and binding on all.

The English version shall prevail if there is any inconsistency between the English and Chinese versions.

Before you make request for early repayment for Instalment loan, please refer to "FAQ" of this website.

For details or enquiries about the related terms and conditions, please contact us.

To borrow or not to borrow? Borrow only if you can repay!