*Based on market research conducted on 18th August 2022 regarding online application and offer details for Tesla loan promotion.
^We reserve the right to request customers to provide additional supporting documents for the loan application. The actual time for loan approval and the loan disbursement may vary depending on the information provided by the customer and are subject to the credit assessment result. Any loan application is subject assessment against normal lending criteria.
#Saving here refers to saving deposit in the WeLab Bank Core Account.
- Up to HKD 13,550 is the total maximum reward that you can get from WeLab Bank X Tesla Mega Combo promotion. Terms and conditions apply, please visit Terms and Conditions.
- Assume customers have successfully drawn down a loan amount of HKD300,000 or above with repayment tenor of 36 months and joined “Special Interest Rate to the Core Account Offer” with deposited amount of HKD 500,000 for 3 months, the Annualised Percentage Rate (‘APR’) will be 3.50% (inclusive of the HKD 4,650 savings cash rebate from “Special Interest Rate to the Core Account Offer”) or 4.55% (excluding the HKD 4,650 savings cash rebate from “Special Interest Rate to the Core Account Offer.) The above cash rebate amount is rounded down to the nearest ten and for reference only. The actual cash rebate will be rounded to the nearest cent. The Annual flat rate is rounded up to the nearest 2 decimal places. The APR is calculated according to the guidelines issued in respect of the Code of Banking Practice and rounded to the nearest 2 decimal places and may vary for individual customers. The APR is a reference rate, which includes all applicable interest rates, fees and charges of the product, expressed as an annualised rate. Customers should refer to their loan confirmation letters for the relevant information and such information shall prevail. The APR only applicable to designated loan amount and tenor and for reference only. The final approved interest will be subjected to the bank’s approval.
- During the promotion period, starting from the date on which you have drawn down the loan and the subsequent 2 calendar months, your Core Account deposit (daily balance up to HKD500,000) are entitled to the savings cash rebate. The amount of the rebate is calculated on the basis of simple interest and based on the special interest rate (your prevailing Core Account interest rate and the special interest rate amount to 3.75% in total). The promotion is subject to a quota and is available on a first-come, first-served basis. Please visit Terms and Conditions for more details.
- During promotion period, new customers who have successfully opened a bank account at WeLab bank or successfully applied for WeLab Bank Personal Loan with Referral code/ promotion codes starting with prefix ’TE’ will be entitled to a 20% cash rebate using your WeLab Debit Card for eligible transactions conducted from the date of successful account opening or the date of successful loan drawdown until the following 5th calendar month. Monthly capped at HKD100. The promotion is subject to a quota and is available on a first-come, first-served basis. Please visit Terms and Conditions for more details.
- The number is derived based on the assumption that the other banks are offering 0.001% interest rate without any promotions
- During the Campaign Period, Eligible Customer can enjoy HKD800 Referral Reward (“Referral Reward”) if you have successfully referred your Referee to apply for WeLab Bank Personal Instalment Loan and drawdown the loan within 7 days after approval. Each Eligible Customer can enjoy a maximum of HKD8,000 cash reward (i.e. 10 successful referrals at maximum) over the Campaign Period under this Campaign. Please refer to terms and conditions for more details.
- During the promotion period, WeLab Bank customers who have applied for WeLab Bank Personal Loan with " TESLA5 " referral code, and successfully open an investment account and invest HKD 1,000 during the promotion period to enjoy Seed Money of HKD 300. The promotion is subject to a quota and is available on a first-come, first-served basis. Please visit Terms and Conditions for more details.
- Allianz Global Investors is a leading active asset manager. For more details on the strategic partnership of WeLab-Allianz, please refer to the press release on WeLab official webpage.
Important notice
This webpage is for information only and does not constitute any offer, solicitation, recommendation, comment or any guarantee to the purchase or sale of any investment products or services. The investment products or services mentioned in this webpage are not equivalent to, nor should it be treated as a substitute for, time deposit.
Investment involves risk. The price of an investment fund unit may go up as well as down and the investment funds may become valueless. Part of your investment may not be able to liquidate immediately under certain market situation. Please refer to our Wealth Management Services Terms (including relevant risk disclosures) and relevant fund offering documents for more details of our services as well as the nature and risks of the relevant products.
The investment decision is yours but you should not invest in these product(s) nor services unless the intermediary who sells them to you has explained to you that these products are suitable for you having regard to your financial situation, investment experience and investment objectives.
Before making any investment decisions, you should consider your own financial situation, investment objectives and experiences, risk acceptance and ability to understand the nature and risks of the relevant product(s).
If you have any inquiries on the nature and risks involved in this webpage, relevant product(s) and services, trading or investment funds etc, you should seek advice from independent financial adviser.
The information contained on this website is intended for Hong Kong residents only and should not be construed as a distribution, an offer to sell, or a solicitation to buy any securities in any jurisdiction where such activities would be unlawful under the laws of such jurisdiction. If you are outside of Hong Kong, we may not be authorised to offer or provide you with the products and services available through this website in the country or region you are located or resident in.
This webpage is issued by Welab Bank Limited. The contents of this webpage have not been reviewed by the Securities and Futures Commission in Hong Kong.
The monies, Hong Kong dollar and/or foreign currency, held in your Applicable Account qualify for protection under the Deposit Protection Scheme Ordinance (Chapter 581 of the Laws of Hong Kong) up to a total limit of Hong Kong $500,000.
Welab Bank Limited is a member of the Deposit Protection Scheme in Hong Kong. Eligible deposits taken by this Bank are protected by the Scheme up to a limit of HK$500,000 per depositor.