WeLab Bank X Tesla Loan Referral Program

*During the Campaign Period, Eligible Customer can enjoy HKD 800 Referral Reward if you have successfully referred your Referee to apply for WeLab Bank Personal Loan with your designated referral code (including "FP" or "TR" prefix) and drawdown the loan within 7 days after approval. Each Eligible Customer can enjoy a maximum of HKD 8,000 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.

(1) 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.

(2) During the promotion period, starting from the date on which you have drawn down the loan and for the subsequent two calendar months, your Core Account deposit (daily balance up to HKD500,000) are entitled to the savings cash rebate. The amount of rebate is calculated based on simple interest rate and special interest rate (your prevailing Core Account interest rate and the special interest rate amounts 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.

(3) During the promotion period, new customers who have successfully applied for WeLab Bank Personal Loan with Referral code/ promotion codes starting with prefix 'TESLA5' or ’TE’ will be entitled to a 20% cash rebate using your WeLab Debit Card for eligible transactions conducted from the date of successful loan drawdown until the following 5th calendar month, capped at HKD100 per month. Subject to terms and conditions.

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.