ZA Bank reported a strong market reception for its Tax Loan on 17 December 2024, achieving double-digit growth in both application numbers and loan amounts. Launched in early November, the ZA Bank Tax Loan features an annualised percentage rate (APR) as low as 1.3%, compared to the previous year’s low of 1.8%.

By the end of November, the number of applications had increased by approximately 10% year-on-year. The average loan amount also surged by around 40%.

To further capitalise on the positive demand, the bank has introduced a new “Rate Watch” offer, which guarantees a cash reward of HK$ 888 for users who secure a loan at a lower interest rate from another financial institution.

The newly introduced “Rate Watch” offer ensures users benefit regardless of where they secure their loan. If applicants receive approval for a lower APR from another institution for the same loan amount and repayment period, they can submit the relevant document proof within 30 calendar days for verification. Successful applicants will earn an HK$888 cash reward without requiring a loan drawdown.

The “Rate Watch” reward will be available until 31 January 2025. ZA Bank’s Tax Loan provides express approval. Loan results are available in as fast as 30 seconds for existing users and 90 seconds for new users. Users can opt for a flexible repayment tenor of up to 60 months.

Additionally, for those applying for a designated loan on or before 15 January 2025, a ZA quest capsule with a cash reward of up to HK$188 will be provided. This reward will be given to the user upon an unsuccessful application. The user needs to maintain an active and valid ZA bank account to receive the award.

Terms and conditions apply, and users can only participate in this offer once. Click here for more details on ZA Bank’s Tax Loan.

Featured image credit: Edited from Freepik