Personal Instalment Loan

The official WhatsApp account number of WeLab Bank is +852 3898 6983, and the account name is displayed with a blue verification badge. This account is used solely for following up on submitted personal loan applications. Conversations will only be initiated by us. If you start the conversation yourself, we will not be able to respond.

WeLab Bank will never ask you to provide personal information or upload documents via WhatsApp. This account only supports text messages, so please do not send images, documents, voice recordings, or videos.

If you have any questions, please contact our Customer Service Hotline at +852 3898 6988.

Personal loan amounts start from HKD 10,000 and can be as high as HKD 1,500,000, or up to 18 times your monthly salary (whichever is lower). The actual approved loan amount will depend on a comprehensive assessment of factors including your credit history, income, and spending profile.

Effective from 29 May 2022, GoFlexi Personal Instalment Loan and GoFlexi Personal Instalment Loan (Debt Consolidation) were renamed WeLab Bank Personal Instalment Loan and WeLab Bank Debt Consolidation Loan respectively (collectively referred to as the “WeLab Bank Personal Loan”). Effective from 20 August 2023, WeLab Bank Debt Consolidation Loan was further renamed WeLab Bank Card Debt Consolidation Loan (also collectively referred to as the "WeLab Bank Personal Loan"). Relevant descriptions in our terms and conditions, mobile app, and official website have been updated accordingly. Both the old and new product names may continue to be used interchangeably on a permanent basis.

Your repayment period should be selected based on your actual repayment ability. The repayment tenor directly affects your monthly repayment amount. It is important to choose a tenure that allows you to comfortably make repayments while maintaining your daily living expenses. A longer repayment period generally means lower monthly repayments, but usually results in a higher total interest cost compared with a shorter repayment period. As a general guideline, the loan tenor should not exceed the period over which you expect to benefit from the expenditure being financed. For example, for annual expenses such as tax payments, a repayment period of 12 months or less is typically recommended. Otherwise, you may still be repaying the previous loan when the next year's tax bill arrives.

WeLab Bank offers the security of a licensed bank together with our "Loan Masters" service. While many online lending platforms claim to offer fast approvals, they do not provide the personalized support available through our “Loan Masters” service. In addition to fast loan approvals, WeLab Bank offers smart and personalized loan solutions with rapid case follow-up, making our service different from many other online lending providers.

The main difference lies in the regulatory framework. WeLab Bank provides loan services as a licensed bank regulated by the Hong Kong Monetary Authority (HKMA). We are required to comply with the Banking Ordinance (Cap. 155) and the Code of Banking Practice. Finance companies, on the other hand, are regulated under the Money Lenders Ordinance (Cap. 163) and operate under money lender licenses. As a result, banks and finance companies are regulated by different authorities and subject to different regulatory requirements.

Although finance companies that offer online lending may have more flexible application requirements, WeLab Bank's Fast Approval Personal Loan provides a fully digital application process from start to finish. For smaller loan amounts, approvals can also be completed very quickly.

Generally, you must be a Hong Kong resident aged 18 or above, have a stable income, and be able to provide supporting documents such as your Hong Kong Identity Card, income proof, and bank statements.

Eligible applicants can submit a simple application through the WeLab Bank App and upload the required documents. The application process is quick and convenient.

WeLab Bank is committed to making the loan approval process faster and more efficient. In general, loan applications are approved within 1 to 2 business days after submission. Once approved and after you sign the Loan Approval Letter, funds will be deposited into your HKD Core Account within 5 to 10 minutes (or by the end of the same day at the latest). Actual approval and fund disbursement times may vary depending on the information provided in your application.

If you fail to make your repayments on time, you may be charged a late payment fee, and your credit score could be adversely affected. To avoid additional fees or penalties, make sure you repay on time.

WeLab Bank considers a range of factors when assessing loan applications, including your credit score, income, and expenditure. Even if your credit score is not ideal, you may still apply for a Personal Loan.

You can use the Online Loan Calculator available at the top of this page to estimate your monthly repayment amount based on the loan amount, interest rate, and repayment period.

WeLab Bank offers competitive interest rates, flexible repayment tenors, and a fast and convenient application process. Our loan charges are fully transparent, with no hidden fees. We are committed to delivering high-quality customer service and a smooth borrowing experience. Please note the following potential charges:

• Early Repayment Fee: If you fully repay your loan before maturity, a relevant fee may apply. Please refer to the Product Key Facts Statement for details.
• Late Payment Fee: If you fail to repay on time, a fee equal to 30% of the overdue amount or HKD 500 (whichever is lower) will be charged.