|
|
|
|
|
|
- Free online calculator compares personal loans from more than 20 banks
- Key comparison features include lowest effective interest rates, lowest monthly instalments, hidden charges and additional fees
- Sophisticated technology and design make it quick and easy for Hong Kong people to save money |
HONG KONG, Feb 26, 2015 - (ACN Newswire) - MoneyHero.com.hk has launched a new online personal loan calculator to help Hong Kong people save money and get better deals by comparing the details of personal loans from more than 20 banks. The independent service is free to use and provides a neutral overview of personal instalment loans, tax loans, debt consolidation loans and other types of personal loans.
In recent years it became more and more common for families and individuals around the world to compare prices for goods and services online before making a final purchase. People in Hong Kong are no exception to this trend. For example, Hong Kong people have increasingly turned to websites to compare flights or hotels before making a purchase or completing a booking. However, there was no website in Hong Kong offering a comprehensive overview of financial products and services including personal loans.
Lawrence Chau, Vice President at MoneyHero.com.hk, said: "Previously, people had difficulty finding the right provider or best terms and conditions for a personal loan. The process was very difficult and confusing because there was no transparent overview of different products. With MoneyHero.com.hk, people can now save time and money while removing the guesswork out of important financial decisions such as taking out a personal loan."
The free new service for personal loans allows visitors of MoneyHero.com.hk website to compare features including effective interest rates, monthly instalments, hidden charges and additional fees. The design and interface are intuitive and user-friendly, which makes the process of saving money quick and easy for Hong Kong people looking to cut down on household bills and expenses wherever possible.
As at end of December 2014, the accumulated amount of personal loan for private use taken out in Hong Kong added up to approximately HK$ 320 billion (Source: HKMA Monthly Statistical Bulletin Feb 2015, Table: 3.5.1). In many cases, people pay more interest and other fees than they need to for such loans. In the case of tax loans alone, MoneyHero.com.hk estimates that Hong Kong taxpayers could save up to HK$ 209 million in a single tax loan season by using its comparison platform.
Alister Musgrave, Managing Director at MoneyHero.com.hk, said: "The decision to borrow money should always be carefully considered. However, if a loan is required, we recommend comparing a number of different banks to make sure you get yourself the best interest rate and conditions possible. We estimate that Hong Kong people could save up to 2% on loan interest rates simply by comparing different products on our website and choosing a cheaper option."
Contact:
Joey Yip
Media Relations Manager
MoneyHero.com.hk
Hong Kong
joey@moneyhero.com.hk
+852 2866 7799
Courtney Ngai
Strategic Financial Relations Limited
29A, Admiralty Centre 1, 18 Harcourt Road, Central
courtney.ngai@sprg.com.hk
+852 2114 4952
Topic: Press release summary
Source: MoneyHero.com.hk
Sectors: Daily Finance, Daily News
https://www.acnnewswire.com
From the Asia Corporate News Network
Copyright © 2024 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
|
|
|
