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2020 Tax Loans

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  1. #61

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  2. #62

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    UA Finance offering ZERO interest tax loan. Tenor is 6 or 12 months and maximum amount is HKD100k.

    https://www.uaf.com.hk/en/loans/pers...p=tfmh-contact

    Need to read the fine print, but this is quite literally FREE money!!!!!

    Key Facts Statement for Installment Loan:

    The minimum and maximum repayment period are 6 months and 12 months respectively.
    The maximum annual percentage rate is 0%.
    A representative example of total cost for a loan below is for reference only:
    – Loan amount: HK$10,000
    – Monthly instalment of HK$1,000 for 10 months
    – Interest rate: 0% per month
    – Annual percentage rate: 0%
    – Total repayment amount: HK$10,000

    bdw likes this.

  3. #63

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    pin - the fine print on the website is:

    Simple application with HKID Card and Tax Demand Note
    No administration fee, no handling fee, no penalty fee for early settlement, no any hidden fee
    Pay directly to the Inland Revenue
    Key Facts Statement for Installment Loan:

    The minimum and maximum repayment period are 6 months and 12 months respectively.
    The maximum annual percentage rate is 0%.
    A representative example of total cost for a loan below is for reference only:
    – Loan amount: HK$10,000
    – Monthly instalment of HK$1,000 for 10 months
    – Interest rate: 0% per month
    – Annual percentage rate: 0%
    – Total repayment amount: HK$10,000
    pin likes this.

  4. #64

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    @shri - sounds like a no brainer to me to get an interest free loan. Or am I missing something?


  5. #65

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    No clue.

    Is this the company that gives helpers loans? You're giving them a whole lot of info about you to allow them to pay IRD directly.

    I guess they're counting on late payment fees?
    pin likes this.

  6. #66

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    Quote Originally Posted by shri:
    No clue.

    Is this the company that gives helpers loans? You're giving them a whole lot of info about you to allow them to pay IRD directly.

    I guess they're counting on late payment fees?
    Agree, With a maximum of $100K over 12 months, it's a pretty small gain ($500 or so) for handing over your personal information.

    In any case, they lost me at "pay directly to IRD" as I've already done this.
    pin likes this.

  7. #67

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    Thanks both. Valid points.


  8. #68

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    Direct payment to IRD basically misses the point in terms of why we want tax loans.


  9. #69

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    Quote Originally Posted by Paxbritannia:
    Direct payment to IRD basically misses the point in terms of why we want tax loans.
    Money is fungible.

  10. #70

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    Sep 2019
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    not a tax loan but a personal loan, is 600k paying back over 24 months @ 0.13% flat rate per month any good, how easy to beat that with a tax loan? no fees or incentives.

    I see SCB advertize on their site personal loan @ 0.093% flat rate for 600k over 24 months, how likely is that to be really available (assuming your credit record is clean) or is it just bait to get your data?


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