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    Electric Vehicle Loan

    Overview

    Live with inspiring possibilities!

    Hang Seng provides customers with diversified banking services. We now launch Electric Vehicle Loan. No collateral and handling fee are required.

    Apply now

    Begin your application here  

    Apply now

    Easy application

    1. 1

      Apply your Electric Vehicle Loan online

      Start your loan application journey.

    2. 2

      Upload documents

      Simply provide your electric vehicle order agreement[1] with other documents required.

    3. 3

      Cash crediting to your designated account

      After loan drawdown, submit your Vehicle Registration Document or related documents as the proof of electric vehicle’s ownership within 5 months.[2]

    Key features

    Annualised Percentage Rate as low as 1.68%[3] and 0% handling fee

    Up to HKD10,000 cash rebate[4]

    No collateral is required. Flexible for buying electric vehicle[5]

    Loan amount up to HKD3,000,000 or the purchase price of your electric vehicle, whichever is lower[6], and up to 60 months of repayment period[7]

    Electric Vehicle Loan monthly interest rate and monthly repayment amount

    Edit your loan plan

    Answer simple questions below and get your loan plan

    day(s)
    Your loan plan Result Your instalment plan
    As of HKT
    Monthly repayment amount
    HKD HKD -
    Monthly flat rate
    - %
    Monthly handling fee (%)
    HKD -
    Debt Consolidation Instalment Loan Credit Card Minimum Payment
    Debt Consolidation Instalment Loan Credit Card Minimum Payment
    Monthly repayment amount HKD - Minimum Payment
    Total interest amount HKD -
    (Save HKD -)     		HKD -
    Repayment period 72 month(s)
    (Shortened by - month(s))    		 - month(s)
    The Annualised Percentage Rate of Debt Consolidation Instalment Loan is -
    Your payment will be as follows if you make no additional changes using this account:
    Each month you pay (HKD) Repayment period Estimated total payment amount (HKD)
    Each month you pay (HKD) Repayment period Estimated total payment amount (HKD)
    Only the minimum repayment - month(s) -
    - 36 month(s) -
    If you pay off the balance amount in 36 months, you can save HKD - for the total payment amount.
    Annual interest rate
    - %
    Annualised Percentage Rate (”APR“)
    - %
    Daily interest payable Daily interest paid
    HKD -
    Monthly interest paid[6] Monthly interest paid[7]
    HKD - -
    Interest rate Effective rate (p.a.)
    - %
    Monthly minimum payment amount
    HKD -
    Total interest to be paid[2]
    HKD -
    Annualised interest rate (p.a.)
    -
    Apply now
    View repayment schedule
    Your loan plan

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    • The result of the loan calculator is for reference only. The actual repayment liability depends on the actual terms of each borrowing arrangement.
    • The Annualised Percentage Rate listed above does not include any fees and charges.
    loan-repayment
    Loan amount (HKD) Maximum cash rebate for online application (HKD)[4] Monthly flat rate Monthly repayment amount (HKD) - Based on every HKD10,000 loan amount (APR)
    36
    months or above    		 12
    months    		 24
    months    		 36
    months or above    		 12 months 24 months 36 months 48 months 60 months
    $5,000 - $49,999 - 0.40% 0.39% 0.38% $873.40 $455.70 $315.80 $246.40 $204.70
    9.10% 9.10% 8.86% 8.80% 8.73%
    $50,000 -
    $99,999    		 - 0.35% 0.34% 0.33% $868.40 $450.70 $310.80 $241.40 $199.70
    7.94% 7.92% 7.70% 7.66% 7.60%
    $100,000 -
    $199,999    		 $800 0.25% 0.24% 0.23% $858.40 $440.70 $300.80 $231.40 $189.70
    5.63% 5.57% 5.37% 5.36% 5.33%
    $200,000-
    $299,999    		 $1,100 0.23% 0.22% 0.21% $856.40 $438.70 $298.80 $229.40 $187.70
    5.18% 5.11% 4.90% 4.89% 4.88%
    $300,000-
    $499,999    		 $1,500 0.22% 0.21% 0.20% $855.40 $437.70 $297.80 $228.40 $186.70
    4.95% 4.87% 4.67% 4.66% 4.65%
    $500,000 -
    $999,999    		 $2,500 0.21% 0.20% 0.19% $854.40 $436.70 $296.80 $227.40 $185.70
    4.72% 4.64% 4.43% 4.43% 4.42%
    $1,000,000 -
    $1,499,999    		 $4,000 0.19% 0.18% 0.17% $852.40 $434.70 $294.80 $225.40 $183.70
    4.26% 4.17% 3.97% 3.97% 3.96%
    $1,500,000
    or above    		 $10,000 0.0755% 0.16% 0.15% $840.90 $432.70 $292.80 $223.40 $181.70
    1.68% 3.71% 3.50% 3.50% 3.50%

    All Annualised Percentage Rates are calculated using the Net Present Value Method in accordance with the Code of Banking Practice. The Annualised Percentage Rates are reference rate which include the basic interest rate and other fees and charges of a product expressed as an annualised rate (if applicable).

    The calculation of the monthly repayment amount and the Annualised Percentage Rate has excluded the cash rebate and taken the 0% handling fee into account. The monthly repayment amount is rounded up to 1 decimal point. The proportion of loan principal to interest in each monthly instalment amount is calculated according to the Rule of 78.

    If customer’s loan application cannot meet our approval requirements, the staff of Hang Seng Bank Limited (“Hang Seng”) may recommend our Handy Cash Personal Instalment Loan to individual customers on a case-by-case basis and subject to our prevailing pricing for Handy Cash Instalment Loan. For details, please contact Hang Seng’s staff.

    Footnote

    Remark(s)

    1. Customers shall provide proof of the order agreement or similar documents showing the payment of deposits for the purchase of any electric vehicle (including brand new or second hand private cars) from any manufacturer or dealer as defined in the Remarks (5) below. The Hang Seng Electric Vehicle Loan “EV Loan” is not applicable for customer who has applied any car loan or fully paid for the electric vehicle.
    2. Customers shall provide the Vehicle Registration Document or related documents as the proof of electric vehicle’s ownership within 5 months of loan drawdown. If the related proof cannot be provided, the customer will not be eligible to enjoy the cash rebate, and the Bank will: (i) treat this Electric Vehicle loan as Personal Instalment Loan on handling. For the details of Personal Instalment Loan, please visit: https://www.hangseng.com/en-hk/personal/loans/instalment-loan/. (ii) The Bank also reserves the right under circumstances to terminate this Electric Vehicle loan under certain circumstances, and requires customer to immediately repay the principal, interest accrued and early settlement fee owed on the loan.
    3. For a loan amount of HKD1,500,000 or above, the Annualised Percentage Rate of 1.68% is calculated based on a monthly flat rate of 0.0755% and a 12-month repayment period, including 0% handling fee (Exclude cash rebate). The Annualised Percentage Rates are reference rate which include the basic interest rate and other fees and charges of a product expressed as an annualised rate (if applicable).
    4. For the promotional offers and other terms and conditions, please refer to the “Electric Vehicle Loan Promotion Terms and Conditions” for details.
    5. Electric Vehicle is defined as any of the private cars with no tailpipe emissions as defined by the Environmental Protection Department. For details of eligible electric vehicle models, please take reference from the Environmental Protection Department’s website.
    6. The maximum loan amount is HKD3,000,000 or the purchase price of the electric vehicle as stated in the order agreement, whichever is lower. The approved loan amount is subject to approval at Hang Seng’s sole discretion. The final approved loan amount is subject to change in accordance with the circumstances of individual cases.
    7. Customers can choose for a 12, 24, 36, 48, or 60 months’ repayment period.
    8. The EV loan only accepts applications from our Hang Seng website. It is only for customers to purchase electric vehicles, the Top-up loan on the repaid principal is not applicable for this product.
    9. Minimum loan amount is HKD5,000.
    10. The salary scheme of our representatives (included basic salary and incentive) is based on their performance of various aspects and not only the sales target achieved.
    11. Customer is advised to pay attention on whether interest expenses would be saved by making early repayment of personal instalment loan. For enquiring the relevant fees and charges of loan account, please call our Personal Loan Service Hotline (852) 2997 3882.
    12. For the frequently asked questions relating to Personal Instalment Loan (e.g. Important notes of early repayment; the basis of apportionment of principal and interest in the monthly repayment, etc), please refer to our Bank’s website (Personal Banking Loans Personal Instalment Loan FAQ).

    Terms and Conditions apply to the offers and services.
    To borrow or not to borrow? Borrow only if you can repay!