General enquiries of Express Loan

You may find the general enquiries of Express Loan.

Can I apply Express Loan with payroll slip only? What are the other requirements?

Express Loan accepts any types of payroll slip. The applicant must be a Hong Kong resident aged 18 or above with a minimum annual income of HK$60,000.

Does the approval time for Express Loan takes 20 minutes only?

"Quick Cash in 20 minutes" is only applicable to customers who apply in person at DBS Finance and submit all required documents by 5pm from Monday to Friday (except public holidays). Fund availability will depend on when the receiving bank disburses the loan amount into customers' accounts.

How much loan amount can be generated for Express Loan?

Minimum loan amount is HK$10,000 or above, and Maximum loan amount is up to HK$200,000 or 4 times of monthly salary (whichever is lower).

How much is the interest rate for Express Loan?

For the loan amount of HK$10,000 and instalment period of 36 months, monthly interest rate is 1.32% (Annualised Percentage Rate (“APR”) is 32.96%, including 1% handling fee.). The APR is calculated in accordance with the guidelines issued in respect of the Code of Banking Practice. The approval of the final interest rate is subject to the financial condition of customer.

How much is the handling fee for Express Loan?

1% handling fee will be charged each year. The handling fee is calculated based on the approved loan amount and the instalment period, and apportioned according to the instalment period for repayment with the monthly instalment.

How long is the repayment period for Express Loan?

Flexible repayment period is up to 36 months. You can choose repayment period from 12、24 or 36 months.

What are the requirements for applying Express Loan?

The applicant must be a Hong Kong resident aged 18 or above with a minimum annual income of HK$60,000.

What is the repayment method for Express Loan?

Based on the repayment period, monthly repayment amount will be deducted from customer’s designated bank account by Direct Debit Authorization.

How to do early full settlement for Express Loan?

Early full settlement of Express Loan is permissible upon seven days’ prior written notice to the Bank. Apart from the outstanding loan principal (including any arrears), outstanding handling fee and interest up to the next repayment date, 1.5% per annum on the principal amount of the Loan for early settlement administrative fee will also be charged (calculated by reference to the number of years in the remaining Loan period, and any part of a year shall be rounded up to a year).

How much is the late repayment surcharge for Express Loan?

For failing to pay any Monthly Repayment Amount in full when due, the Bank will charge for each month:

(a)        a default interest of 3% of the total Monthly Repayment Amount overdue (Annualised Overdue / Default Interest Rate is 42.58%. Default interest is calculated on a compound basis and no minimum amount will be applied.); and

(b)        a late charge of HK$300.

Can I redraw my repaid principal of Express Loan?

Customers are eligible to apply for a top-up loan on the repaid principal amount if a minimum of one instalment is repaid, and the repaid principal amount is over HK$5,000 with a punctual repayment record maintained. The Bank reserves the right of approval of the top-up loan based on the customer's financial standing.

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