Card Debt Consolidation Loan
Brand new Card Debt Consolidation Loan helps you plan for the best via intelligent calculation@!
Click HERE to read Personal Loan (Personal Instalment Loan and Card Debt Consolidation Loan) Key Fact Statements
Our Card Debt Consolidation Loan is here to help!
Consolidate your card debts and loan balances via intelligent calculation@ and pay off the debts easily!
Enjoy a lower interest rate and save interest expense up to 97%@! Also, there is no handling fee, and the loan tenor can be up to 72 months! This provides you more flexibility and funds to deal with your everyday needs!
Loan amounts up to HKD 1,500,000 or up to 18x monthly salary (whichever is lower)!
Loan tenor options available up to 72 months!
| HKD 200,000 outstanding balance of credit card(a) | Transferred to WeLab Bank Card Debt Consolidation Loan(b) | |
|---|---|---|
| Repayment period(month) | 407 | 33 (Repayment period reduced by 91%) |
| Average monthly repayment | HKD 7,095 | HKD 6,413 (Monthly repayment reduced by 9%) |
| Credit card interest expense | HKD 506,675 | HKD 11,636 (Interest saved by 97%) |
(a) The illustration is calculated based on an annual interest rate of 31% charged by general credit card on a monthly repayment of 1% of the credit card outstanding balance of HKD 200 (whichever is higher) over a 407 months repayment period. The average monthly repayment amount quoted above is calculated based on the first 3 months repayment amount and is rounded to the nearest dollar. The Annualized Percentage Rate (#APR$) is 36.01%. The total interest expense over the whole repayment period quoted above is rounded to the nearest dollar.
(b)The illustration is calculated based on a monthly flat rate of 0.1763% with 33 months loan repayment period for a WeLab Bank Card Debt Consolidation Loan. The APR is 4.11% (rounded up or down to the nearest two decimal places), and the total loan repayment amount is HKD 11,635.8 (with handling fee waiver). The total interest expense over the whole repayment period quoted above is rounded to the nearest dollar. The above example is for reference only. The APR, loan amount and tenor subject to credit approval. The APR is calculated according to the guidelines issued in respect of the Code of Banking Practice and rounded to the nearest 2 decimal places and may vary for individual customers.
Note: All the figures quoted in the table above are rounded to the nearest integer.
Now you can enjoy up to HKD 23,888 rebate# after successful loan drawdown – it means cash directly transferred to your account!
During Campaign Period, you can get HKD 800** for each successful referral for a friend to apply for WeLab Bank Personal Loan with successful drawdown.
The more successful referrals you make, the more you earn!
Have your current financial status analyzed and let us help you pay off your card debts and loans in one go!
Click the "money bag 💰" icon in WeLab Bank app and select “Card Debt Consolidation Plan” to apply for your WeLab Bank Card Debt Consolidation Loan!
Select your loan amount and tenor.
Provide 3 suitable plans for you via intelligent calculation@.
Submit your supporting documents.
Our Loan Masters will contact you to analyze your current financial status and to help you pay off your debts in one go!
Lower rate, shorter wait!
To borrow or not to borrow? Borrow only if you can repay!
#From now on until 28 February 2025, successful WeLab Bank loan applicants with an approved loan of minimum of HKD 100,000 amount and tenor of 24 months can enjoy up to HKD 23,888 cash rebate if the loan is drawn down within 7 days after approval. The cash rebate amount will be credited into the Core Account on or before 30 April 2025. Please refer to terms and conditions for more details.
@The above example is for reference only. The final approved loan amount, interest rate and loan tenor are subject to the credit approval.
1The comparison of monthly instalment is assuming HKD 300,000 outstanding balance of credit card with below examples. Example of credit card is calculated based on annual interest of 31% charged by general credit card on a monthly repayment of 1% of the credit card outstanding balance or HKD 200 (whichever is higher) over a 447 months repayment period and the Annualized Percentage Rate ("APR") is 36.01%. Example of WeLab Bank Card Debt Consolidation Loan is calculated based on a monthly flat rate of 0.18% with 72 months loan repayment period for the loan, the APR is 4.11% (rounded up to two decimal places). The above examples are for reference only. The APR, loan amount and tenor subject to credit approval.
2The comparison of interest is assuming HKD 200,000 outstanding balance of credit card with below examples. Example of credit card is calculated based on annual interest of 31% charged by general credit card on a monthly repayment of 1% of the credit card outstanding balance or HKD 200 (whichever is higher) over a 407 months repayment period and the Annualized Percentage Rate ("APR") is 36.01%. Example of WeLab Bank Card Debt Consolidation Loan is calculated based on a monthly flat rate of 0.18% with 33 months loan repayment period for the loan, the APR is 4.11% (rounded up to two decimal places). The above examples are for reference only. The APR, loan amount and tenor subject to credit approval.
3WeLab Bank Customer Services team will provide dedicated follow-up on your loan application during office hours. WeLab Bank may send messages to customers via WhatsApp and the official WeLab Bank WhatsApp account number is +852 3898 6983. This phone number is used for WeLab Bank Personal Loan and for dissemination of messages to customers by us via WhatsApp only. The conversation through WhatsApp can only be supported if it is initiated by the Bank only and customers may respond by then. The Bank cannot support and reply to customers’ message if the conversation is initiated by customers. We will not ask customers for personal information or uploading any document through WhatsApp.
**During the Campaign Period, Eligible Customer can enjoy HKD800 Referral Reward (“Referral Reward”) if you have successfully referred your Referee to apply for WeLab Bank Personal Instalment Loan and drawdown the loan within 7 days after approval. Each Eligible Customer can enjoy a maximum of HKD8,000 cash reward (i.e. 10 successful referrals at maximum) over the Campaign Period under this Campaign. Please refer to terms and conditions for more details.
***Note:
- The annualized percentage rate (“APR”) ranges from 1.68% to 36.00% and loan amount ranges from HKD10,000 to HKD1,500,000 with repayment period of 6 to 72 months. Assume the loan amount as HKD1,500,000 with tenor of 24 months, the APR will be 1.68% (excluding cash rebate). The APR is calculated according to the guidelines issued in respect of the Code of Banking Practice and rounded to the nearest 2 decimal places and may vary for individual customers.
- All WhatsApp official accounts will have a blue tick next to the account name. You will also see this verification badge on the account profile in WhatsApp.
- This phone number is used for WeLab Bank Personal Loan and for dissemination of messages to customers by us via WhatsApp only.
- The conversation through WhatsApp can only be supported if it’s initiated by the Bank only and you may respond to us by then. We cannot support and reply to your message if the conversation is initiated by you.
- We will not ask for your personal information or upload any document through WhatsApp. Please don't send us images, attachments, audio files or videos.
- Welab Bank Limited is a member of the Deposit Protection Scheme in Hong Kong. Eligible deposits taken by this Bank are protected by the Scheme up to a limit of HK$800,000 per depositor.
Read terms and conditions of WeLab Bank Personal Loan / Key Facts Statement (KFS) for WeLab Bank Personal Loan / Promotion T&C for WeLab Bank Personal Loan