"Smart" Banking Account
The "Smart" Banking Account provided by NCB (China) brings you a total financial management solution. You may save mortgage interest expenses to meet your financial needs in a flexible manner!Privileged services
Upon mortgage loan application, you can simply apply for a "Smart" Banking Account to enjoy the following privileges:
Save interest expenses
The deposits in the "Smart" Banking Account will be treated as early repayment according to a pre-determined ratio. The mortgage interest saved (named as "Smart" Benefit) will be deposited to your "Smart" Banking Account regularly.
Manage financial needs with additional flexibility
To meet your financial needs, you can withdraw cash from "Smart" Banking Account whenever you need anytime you want.
Enjoy waivers on handling charge and annual fee
You can take advantage of our waivers on handling charge and annual fee to save more.
Other Attractive Features
High loan amount with long repayment period
- Loan amount of up to 80% of the property transaction amount or the valuation amount (whichever is lower) 1
- Repayment period of up to 30 years
Various options of loan currencies
- Loan denominated in HK Dollar or US Dollar are available for your choice
Example (For reference only)
Loan currency: HK Dollar (HKD)
Assume P*: 5.25% p.a.
Assume annualized mortgage interest rate: P-2.25%p.a.
Assume HKD savings interest rate: 1% p.a
Loan amount: HKD1,000,000.00
Repayment Period: 20 years (240 installments)
Deposit amount of "Smart" Banking Account on the next day following the first repayment date: HKD100,000.00
| Mortgage Plan with "Smart" Banking Account | General Mortgage Plan | |
|---|---|---|
| Annualized mortgage interest rate | 3% (P)* | 3% (P)* |
| Monthly repayment | HKD5,546.00 | HKD5,546.00 |
| Total mortgage interest expenses | HKD331,415.00 | HKD331,415.00 |
| Total interest income on savings account | HKD24,969.00# | HKD22,039.00 |
| Total "Smart" Benefit | HKD28,247.00 | --- |
| Total net interest expenses^ | HKD278,199.00
[Interest saved HKD31,177.00(10%)] |
HKD309,376.00 |
- * P is the Hong Kong Dollar Prime Lending Rate quoted by Nanyang Commercial Bank (China) Limited ("NCB (China)") in accordance with national regulations from time to time. The interest rates and example quoted above are for reference only. The final terms and conditions of the mortgage will be governed by the Facility Letter and any relevant documents signed between the loan applicant and NCB (China).
- # For Mortgage Plan with "Smart" Banking Account, the "Smart" Benefit will be credited to your account in each period. In other words, more interests may be accumulated.
- ^ Total net interest expenses = Total mortgage interest expenses - Total interest income on savings account - Total "Smart" Benefit
For enquiries, please call or visit any of the NCB (China)'s branches / sub-branches..
Remarks:- Subject to change in accordance with national regulations.
- The mortgage account and the "Smart" Banking Account must be maintained in the same currency. The "Smart" Banking Account should be designated as the loan repayment account.
- The deposits in "Smart" Banking Account will be treated as an early repayment according to the pre-determined ratios if the account balance reaches the designated amount which set by the Bank.
- If the installment payment under your mortgage account has been overdue, the deposits in "Smart" Banking Account will not be treated as early repayment according to the pre-determined ratios. Under such circumstances, the interest for deposits in "Smart" Banking Account will be calculated as a general savings account.
- The above information is for reference only. The final terms and conditions of the mortgage loan and "Smart" Banking Account will be governed by the Facility Letter and any relevant documents signed between the mortgage loan applicant and NCB (China).
- The loan applicant is required to sign the legal documents with our branch upon approval of the mortgage loan. NCB (China) reserves the right for the final approval of mortgage loan and "Smart" Banking Account application.
