Civil Servant Debt Clearance/ Professionals Low-Interest Loan Guide | PROMISE Helps You Resolve Financial Needs at Low Interest

Are professionals and civil servants unlikely to have financial difficulties because of their stable and high incomes? In fact, everyone may face occasional cash flow needs. Loan enquiries made by professionals and civil servants are common. What should civil servants note when applying for loans? PROMISE provides you a clear and straightforward guide to civil servant/professional debt consolidation loans, empowering you to enhance cash flow and resolve financial needs wisely!

Key Point for Civil Servant Debt Clearance: Sources of Civil Servant Loans

Civil servants may face financial needs and need to apply loans sometimes, but they should pay attention to the "Prevention of Bribery Ordinance". The Civil Service Bureau has also published the "Sources of Finances for Civil Servants" with detailed rules and permissible loan sources:

• A loan from a relation as defined in the Acceptance of Advantages Notice;
• Loans from friends, capped at $3,000 per transaction, repayable within 30 days. The friend must not be a subordinate in the same bureau/department or having official dealings with the borrower's bureau/department;
• Loans from other individuals, capped at $1,500 per transaction, repayable within 30 days. The lender must not be a subordinate in the same bureau/department or having official dealings with the borrower's bureau/department;
• Loans obtained privately from tradesmen, firms, companies, organizations, or clubs under prescribed conditions, provided such loans are equally accessible to non-specified personnel and the lender has no official dealings with the borrower;
• Loans or advances permitted under any government regulations.

For details, please refer to the "Sources of Finances for Civil Servants".

Key Point for Civil Servant Debt Clearance: Can Salary Be Advanced?

The government provides a salary advance mechanism for civil servants, but this is limited to specific circumstances such as relocation, marriage, legal proceedings, critical illness, or funeral expenses that causing unexpected additional costs. Civil servants may apply for advance of salary to ease cash flow issues.

For details, please refer to The Civil Service Regulations or consult the Departmental Secretary or the Departmental Welfare Officer.

Civil Servant Debt Clearance/Professionals Low-Interest Loan Eligibility

If the need for funds falls outside salary advance eligibility (e.g., further education, family support, or emergencies), civil servants may consider to apply for personal loans. Civil servant debt consolidation loan is similar to those for the general public. Always choose a licensed money lenders under the Money Lenders Ordinance or authorized banks/deposit-taking companies under the Banking Ordinance.

Most civil servant debt clearance/professional low-interest loan applications are straightforward. For example, you can apply PROMISE personal loan without showing up in person^*, the loan application, agreement signing, and fund transfer can all be completed online. Together with the online instant preliminary approval^⦿, your urgent need of cash flow can be well addressed. Only HK ID card and mobile phone will be required for working people^#.

Civil Servant Debt Clearance/ Professionals Low-Interest Loan Annual Percentage Rate (APR)

Interest rates is a critical factor when selecting a loan product. Rates for civil servant/professionals loans vary across financial institutions and it is depending on loan amount, repayment period, credit status, and other factors. PROMISE online personal loans offer APR as low as 1.12%^■. For example, a $400,000 loan with 12 months repayment period incurs total interest as low as $2,409.

You can make good use of Personal Loan & Interest Calculator to estimate monthly repayments and plan your finances effectively!

Flexible Repayment Plan: Interest-Saving Strategies for Civil Servant Debt Clearance/ Professionals Low-Interest Loan

PROMISE understands your needs. If you wish to further reduce interest expenses, you can consider making additional repayments during the repayment period to lower interest expenses and shorten the loan tenure. PROMISE calculates interest daily, allowing you to save unnecessary interest and expenses if you choose to make extra repayments or clear the loan in advance. Meanwhile, there are no additional charges (e.g. penalty, handling fee, etc) if you choose to make extra repayment or clear the loan in advance.

Civil Servant Debt Clearance/ Professionals Low-Interest Loan Limited-Time Offer

PROMISE has been providing personal loan services in Hong Kong over 30 years, tailoring personal loan solutions to meet every financial need. PROMISE understands your urgent financial needs, provides professional and reliable online platform with simple loan application procedures. The loan application, agreement signing, and fund transfer processes can all be completed online^*, helping you to acquire extra funds with low interest. Learn more about our latest offers now!