Rant time! I applied for this last week (not the full 1M). Despite the website stating interest rates are 1.x% to 5.x%, they offered me 19.x% for a 1-year loan.
It wasn’t the rejection that annoyed me so much as the bait and switch. Two things in particular:
1. I understand the rate is going to change based on the customer, but if I don’t qualify for the advertised rate, why not just say that, reject the application, and tell me what products I could qualify for.
2. I had to talk to them on the phone, the rep mumbled a bunch of numbers, and wanted me to accept them and there. I had to get them to repeat several times to get the APR. If the rate is not in the advertised range, it should be in writing before I “sign”.
Previous loans from other banks were much less painless (even HSBC!).
Get up to a million dollars in tax loans and put it all in gamestop call options?
btw are yuu member?
Paging @GentleGeorge
Saw this on my news feeds...
(Scroll down to read the terms / fine print etc)
https://www.dahsing.com/html/en/pers.../tax_loan.htmlAPR as low as 1.08%17
Features Details
Receive up to HKD2,000,000 or 12 Times Your Monthly Income (whichever is lower)a
Features Details
Repayment Tenor up to 24 Months
everyone gets enticed by the low % figures on offer but as usual its only a gimmick to get you to apply or ask. most wont even meet the requirements to get that low APR%
ya.. if you work around the number, the 12x mthly income loan at 1.08% will never be possible..
They set the maximum amount of money you can use to repay loan each month, even if you have spare cash elsewhere. So at the end the max you can get will probably be 3-4 times your monthly pay unless you stretch that payment terms to say 3years. So all these combined you end up getting a 2/3 year loan at closer to 2%, or a 1year loan of much smaller amount also closer to 2%.. unless your monthly pay is say close to 600k (but then the loan size won't be 12 times your monthly pay anyway).