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Assume mortgage loan amount of HK$4,000,000 with loan tenor of 20 years and mortgage interest rate at 3.5%* p.a.:
|
Conventional Prime-based mortgage plan with mortgage deposit linked feature
|
Standard conventional Prime-based mortgage plan with deposit under saving account
|
|
|---|---|---|
| Initial deposit | HK$500,000 | |
| Deposit rate (p.a.) | 3.5% | 0.25% |
| Total mortgage interest expense (A) | HK$1,567,453 | HK$1,567,453 |
| Total deposit interest earned (B) | HK$397,982 | HK$25,632 |
| Net interest expense (A) – (B) | HK$1,169,471 | HK$1,541,821 |
| Difference on net interest expenses | HK$372,350 (24% less) | |
The above example is based on the assumptions below and does not take into account any fees and any interest rate change which is for reference only.
* Based on the Hong Kong Dollar Prime Rate of Standard Chartered Bank (Hong Kong) Limited (the “Bank”) (5.5%p.a. as of 23 December 2024) minus 2.00%pa.
Make an assumption of:
