Fixed deposit transforms into ready funds for making all your dreams come true
- Enjoy Overdraft Facility with "Preferential interest rate" offer
Preferential interest rate is offered to you for the first 10% usage of the credit line once it is activated. You are entitled to "Preferential interest rate" offer within the tenor of pledged deposit1. - Waiver of handling fee
- Standby line of credit up to 100% of the fixed deposit value
HKD and USD fixed deposit with 3 months or above deposit tenor are eligible to be used as pledge. Limit of the credit line depends on the loan ratio of the correspondent fixed deposit. Maximum loan ratio can be up to 100% of the fixed deposit value or HKD 15,000,0002, whichever is lower. - OD facility support the combinations of multiple fixed deposit accounts3
- Flexible and handy application procedures4
- No minimum repayment is required. Interest is charged only on the daily-utilized credit line amount which suits for short-term investment or cash needs.
Pledged Deposit Overdraft – annual interest rate and loan ratio table
| Currencies of Pledged Deposit
|
Overdraft Facility (annual interest rate) | Loan Ratio (% of fixed deposit value) |
|
|---|---|---|---|
"Preferential interest rate" for the first 10% usage of credit line
|
Afterward first 10% usage of credit line |
||
| HKD | Fixed Deposit Interest Rate | Fixed Deposit interest rate +1% OR HIBOR +1% (whichever is higher) |
Maximum up to 100% |
| USD5 | Fixed Deposit Interest Rate | (P-1%)6 | Maximum up to 95% |
Limited period offer, please visit our branches to apply!
Notes:
- The pledged deposit OD facility is only available within the tenor of pledged deposit. Customers can enjoy "Preferential interest rate" offer for their first 10% of the line usage or HK$ 300,000 line usage (whichever is lower), which is calculated by the amount of every pledged deposit account and the offer is only available within the tenor of pledged deposit. "Preferential interest rate" is equal to customer pledged deposit interest rate.
- The minimum credit line limit is HK$50,000 and the maximum credit line limit is HK$15,000,000. The maximum credit limit is counted based on each customer.
- Should the OD limit be secured by a combination of deposits attracting different OD interest rates, in calculating interest, Chong Hing Bank Limited ("the Bank") will first apply the lowest of these interest rates until the OD limit corresponding to this particular type of deposits has been fully utilized. Thereafter the next lowest interest rate will be applied, and so on.
- Reactivation of the OD line service is not required if the fixed deposit is auto rollover.
- For the pledged USD fixed deposit , the credit line limit is granted by converting USD to HKD with the value roundown to the nearest ten thousand unit.
- "P" refers to the Hong Kong Dollar Prime Lending rate as quoted by the Bank from time to time.
- If there is any conflict or inconsistency between the Chinese and the English versions of these terms and conditions, the latter shall prevail.
The above information is provided for reference only and the application is subject to the Bank’s final approval. The Bank reserves the right to cancel or amend these terms and conditions and promotional offers, including adjusting loan ratio at any time without prior notice. In case of disputes arising from this promotional leaflet, the Bank's decision shall be final.
