ZA Bank has announced a new initiative for its tax season loans, introducing a ‘self-made interest reduction’ plan. This program links the interest rates of loans to the total balance in users’ accounts, allowing for potential interest rates as low as 0%.
Users can apply for loans of HKD 200,000 or more with a repayment period of 12 months or longer. By maintaining a specified average account balance, users can earn interest rebates, effectively reducing their annual interest rates.
The program allows users to utilize various asset types in their ZA Bank accounts, including deposits, investments, and cryptocurrencies, to meet their balance targets. The interest reduction tiers are structured based on the average account balance maintained each month.
ZA Bank’s retail loan and card business head, Corey, stated that the ‘self-made interest reduction’ plan aims to enhance user engagement and provide clearer financial benefits. The initiative is part of the bank’s ongoing efforts to offer transparent and user-centric financial products.
