Premium Financing
Exclusive Loan Solution for WeLab Bank Wealth Account Holders
Apply completely online — loan amount up to 95% of your policy cash value¹
Click HERE to Premium Financing Key Fact Statements
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Our Insurance Partners
Prudential | Chow Tai Fook Life | FWD
One Click to Apply — No In Person Meetings Required
Stay Flexible with Your Cash — Plan Ahead with Ease
Finance up to 95% of your Policy’s Day-one Guaranteed Cash Value¹
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One Click to Apply
Apply anytime, 24/7 — simple, fast, and fully online. No need for in-person meetings.
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Repay Interest Only - Maximize the Benefits of Premium Financing
Pay interest monthly, and settle the principal at the end of the loan term — giving you more flexibility with your cash.
2-day Approval Pledge²
Once all required documents are submitted and your policy is approved by the insurer, we’ll complete your loan approval within 2 working days.
How to apply
Step 1: Submit your application online
Provide your loan, policy, and simple financial details.
With WeLab Bank Premium Financing, you can borrow up to 95% of your policy’s day-one cashvalue to fund part of your insurance premium. Upon drawdown, your policy will be assigned to the Bank as collateral, and you’ll repay monthly as scheduled.
This way, you can maintain cash flow flexibility, reduce large upfront payments, and still enjoy
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#For illustration purpose, we assume the USD/HKD exchange rate is 7.8. The actual exchange rate may differ.
- * WeLab Bank Premium Financing only requires the customer to make interest-only payment; and repay the interest and principal upon maturity. The amount shown in the above calculation is for illustrative purpose only. The actual repayment amount and annualized interest rate may vary depending on the final assessment of your application.
- The above calculation results do not constitute an offer, loan application or recommendation. The figures and formula used within this calculator may change at any time without notice. Any loan request is subject to assessment against normal lending criteria. Terms and Conditions apply.
- Should you apply for the WeLab Bank Premium Financing with us, we will make our own calculations and we will not necessarily take your calculations into account. All interest rates displayed are guides ONLY and the monthly repayment as a result of this simulation have no legal offering.
- WeLab Bank accepts no responsibility for any losses arising from any use of or reliance upon any calculations or conclusions reached using the calculator.
To borrow or not to borrow? Borrow only if you can repay!
Remarks:
1. For WeLab Bank Premium Financing, the maximum loan amount is: HKD Policies: 95% of the Day-one Guaranteed Cash Value; USD Policies: 93% of the Day-one Guaranteed Cash Value. The actual loan amount is subject to final approval.
2. WeLab Bank guarantees that credit approval will be completed within two business days, provided that:
a. Customer submits the WeLab Bank Premium Financing application during the Promotion Period;
b. Customer submits all required documents by WeLab Bank for approval (including but not limited to Policy Application Form, Policy Proposal, Asset Proof and any additional documents requested by WeLab Bank etc);
c. Customer successfully open the WeLab Bank Core account and investment account (successfully receives WeLab Bank's email notifying successful Core Account and Wealth Account opening);
d. The insurance Policy is approved by the insurance company and informed WeLab Bank.
Terms and condition applies.
3. The Day 1 Guaranteed Cash Value varies depending on the specific insurance policy. For further details, please consult your insurance intermediary or refer to the policy provisions.
4. For USD policies, the initial premium amount payable by the customer will vary based on the HKD/USD exchange rate published on the official website of the relevant insurance company on the date of loan drawdown. For cancellation of USD policy during this period, insurance company will return the premium in Hong Kong Dollar using their prevailing exchange rate. Any adverse fluctuations in the exchange rate may result in a significant reduction in the overall refund amount and the customer is responsible for any potential financial loss.
Want to know more about our offer terms?
Read terms and conditions of WeLab Bank Policy Loan / Key Facts Statement (KFS) for WeLab Bank Policy Loan / HKD Prime Rate (P)
Learn more
What are the criteria for applying for policy loan?
For applying policy loan, you must:
· Be between 18 to 64 years old
· Already submitted the policy application to the insurance company
· Be the policy owner, insured person and beneficiary (own estate)
· Use the same mobile number for applying Premium Financing to open the WeLab Bank account and Investment account.
You may submit the premium financing application prior to opening your WeLab Bank core and investment accounts.
Are there any other fees for premium financing?
There are no fees for applying for the WeLab Bank Premium Financing; however, a monthly management fee will be charged. Please refer to the Terms and Conditions or the Product Key Facts Statement (KFS) for details.
From now to 31 December 2026, eligible customer is entitled to a waiver of the Monthly Administration Fee for that month if his/her average total relationship balance of that month is equal to or greater than 75% of the Loan Amount. Please refer to the WeLab Bank Premium Financing Monthly Administration Fee Waiver Terms and Conditions. Please call Customer Service Hotline at 3898 6988 for any inquiries.
Do I need to visit the WeLab Bank office in person during the application?
You are not required to visit the WeLab Bank office in person; you can easily apply for our Policy Loan online.
However, applicants must hold a WeLab Bank Account and an Investment Account. The entire process can be handled online via the WeLab Bank App. You must be physically present in Hong Kong during account opening. Click here for details.
What is the disbursement process for Premium Financing?
Prior to the Loan Drawdown Date, please ensure that you have deposited the required down payment into your WeLab Bank HKD Core Account. On the Loan Drawdown Date, we will transfer the loan amount and the premium down payment to the relevant insurance company to effectuate the policy.
Why should I choose Premium Financing instead of paying the premium directly in cash?
Premium Financing allows you to maintain liquidity for other personal expenses while simultaneously obtaining the protection provided by the insurance policy.
What percentage of the policy value can I borrow?
The loan amount depends on the Day 1 Guaranteed Cash Value of the policy. For HKD policies: up to 95% of the Day 1 Guaranteed Cash Value; for USD policies: up to 93% of the Day 1 Guaranteed Cash Value.
What is the impact of Premium Financing on the policy?
During the loan repayment period, the cash value and rights of the policy will be assigned to WeLab Bank as collateral. If policyholder wishes to exercise any of the rights, lender’s prior consent is required. Also, if the loan is not repaid in time, the Bank has the right to deduct the corresponding amount from the cash value of the policy.
What happens if I fail to make repayments on time?
By choosing for Premium Financing, you agree to repay the loan amount and interest in accordance with the repayment schedule and relevant Terms and Conditions.
Late payments will incur corresponding late charges; please refer to the WeLab Bank Premium Financing Product Key Facts Statement (KFS) for details. Late payments may also lead to the Bank surrendering the policy, resulting in losing the protection and other policy benefits. If the amount recovered after policy surrender is insufficient to cover the outstanding debt, you shall remain liable for the relevant shortfall.
My policy currency is USD; will this involve exchange rate fluctuation risk?
For cancellation of USD policy during this period, insurance company will return the premium in Hong Kong Dollar using their prevailing exchange rate. Any adverse fluctuations in the exchange rate may result in a significant reduction in the overall refund amount and the customer is responsible for any potential financial loss.
If my policy currency is USD, can I pay the downpayment in USD?
No. WeLab Bank Premium Financing only provides loans in HKD, and the customer's initial premium amount can only be paid in HKD. We will pay the premium to the insurance company in HKD on the drawdown date, and the insurance company will perform the conversion based on the exchange rate of that day.
Will WeLab Bank share any data relating to me with Credit Reference Agencies (CRAs)?
No, Policy Loan is a secure loan and the Bank will not obtain credit report from Credit Reference Agencies (CRAs) or sharing details relating to you with them.
Can I choose not to open an Investment Account?
The WeLab Bank Premium Financing service is a loan product exclusive to Investment Account holders; applicants must hold an valid Investment Account.
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