OREANDA-NEWS. December 08, 2011. The Bank of East Asia (“BEA”) has launched its 2011-2012 Tax Loan Programme for personal customers. The programme offers a simple, direct, and convenient way for customers to apply for a tax loan, with no hidden fees or rates, reported the press-centre of BEA.

What’s more, customers who successfully apply for a tax loan on or before 20th December, 2011 can enjoy attractive offers including an annualized percentage rate (“APR”) as low as 3.13% and PARKnSHOP Gift Coupons worth up to HKD 300.

In its Personal Tax Loan Programme, BEA is offering loans according to two simple rate schedules – one for privileged customers1, including designated BEA banking customers, professionals, civil servants, and full-time Hospital Authority/university employees (see below for a complete list), and one for general customers. Privileged customers can enjoy an APR as low as 3.13% (0.14% per month flat) while general customers can enjoy an APR as low as 3.58% (0.16% per month flat). As an added incentive, PARKnSHOP Gift Coupons worth up to HK\\$300 will be offered to customers who meet the designated loan amount thresholds.

Customers may apply for loan amounts of up to eight times their monthly basic salary, with a maximum loan amount of HK\\$1,000,000. For added financial flexibility, customers may apply for loan amounts greater than their tax bill amounts. The APR granted to the customer will apply to the full value of the loan, not just to the amount needed to cover the tax bill.

BEA offers customers flexible repayment terms of up to 18 monthly instalments. Customers who choose a repayment period of 12 months will also enjoy a full waiver of the arrangement fee2.

“We are pleased to offer customers a simple, direct way to meet their tax and other financial obligations,” says Mr. Simon Lau, General Manager & Head of Personal Banking Division at BEA. “With BEA’s Personal Tax Loan Programme, customers can easily apply for a loan that fits their individual needs and circumstances, without any hidden costs.”

Customers can apply for BEA’s Personal Tax Loan in person at any BEA branch or i-Financial Centre, by phone, by fax, by mail, online, or using the BEA iPhone App. Customers who apply via the iPhone App on or before December 20th, 2011 will also receive a HKD 25 coffee coupon.

For more information on BEA’s Personal Tax Loan Programme, including the complete terms and conditions, please call the Tax Loan Hotline on (852) 2211 1168, visit any BEA branch, or browse the Bank’s homepage at www.hkbea.com.