Mortgage $aver matches your deposit interest rate to your mortgage interest rate, maximizing your interest savings
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Suppose you would like to borrow a loan amount of HK$4,000,000
| Mortgage loan amount | HK$4,000,000 |
| Mortgage loan tenor | 20 years |
| Mortgage loan interest rate | 3.5% p.a. |
| Initial deposit | HK$120,000 |
| Monthly savings | HK$1,500 |
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Mortgage $aver
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Your current conventional mortgage plan
|
|
|---|---|---|
| (a) Original mortgage loan interest expenses | HK$1,567,505 | HK$1,567,505 |
| (b) Deposit interest earned | HK$181,901 (Deposit annual interest rate equals your existing mortgage loan interest rate) |
HK$15,341 (Based on HKD deposit interest rate of 0.25% p.a.) |
| (c) Mortgage interest expenses saved as a result of reducing the mortgage loan outstanding principal with deposit interest accrued from savings |
HK$31,027 | NIL |
| Net interest expenses (a-b-c) | HK$1,354,577 (Save 13%) |
HK$1,552,164 |
The above example is based on the assumptions below and is for reference only.
