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[1] The GoWealth X Core Account Interest Rate Program (“Program”) shall start from 23 August 2022 until 31 December 2022 (both dates inclusive) (“Program Period”) unless otherwise specified by us.

[2] The Program applies to Welab Bank Limited’s (“WeLab Bank”, “we”, “us” or “our”) selected customer (“you” or “your”) who:

(i) holds a valid bank account with us; and

(ii) receives our invitation by either Email, SMS, or push notification to join this Program; and

(iii) entitled to any Core Account interest rate program offered by WeLab Bank (“Existing Program”).

Existing Program

[3] During the Program Period, you may continue receiving the Cash Rebate under the Existing Program to which you are entitled for your eligible deposits (up to HKD500,000 of your Core Account deposit balance held with us) in your Core Account, which will be calculated daily in simple interest instead of compound interest on a 365-day basis (a 366-day basis in the case of a leap year) based on the interest rate as below:



The Cash Rebate is governed by the relevant terms and conditions of the Existing Program.

Extra deposit interest rate by GoWealth

[4] In addition to the Cash Rebate under the Existing Program, if you maintain an investment account with us and maintain a balance of not less than HKD20,000 (or equivalent) in your investment account at the end of a month (in Hong Kong time) within the Program Period, you will enjoy an extra cash rebate on your eligible deposits (up to HKD200,000 of your Core Account deposit balance held with us) for that month (“Extra Cash Rebate”). The Extra Cash Rebate will be calculated daily in simple interest instead of compound interest on a 365-day basis (a 366-day basis in the case of a leap year) based on the interest rate as below:



[5] The interest rate for both Cash Rebate and Extra Cash Rebate are for reference only and subject to change from time to time and at the Bank’s sole and absolute discretion. Changes (if any) in the interest rate for the Cash Rebate will be notified according to the relevant terms and conditions of the Existing Program. Changes (if any) in the interest rate for the Extra Cash Rebate will be notified 14 days in advance by us through Email.

[6] You will be given 14 days advance notice of the change in the end date of the Program (if any) by us through Email.

[7] For the avoidance of doubt, the interest of your Core Account will still be calculated,

(i) based on the total daily deposit balance of your Core Account and our prevailing interest rate* for the Core Account as at the interest calculation day; and

(ii) accrue daily on a simple and 365-day basis (a 366-day basis in the case of a leap year).

*Our current prevailing interest rate for HKD for your Core Account is 0.01%. It is for reference only and is subject to change from time to time and at the Bank’s sole and absolute discretion. The latest prevailing interest rate for your Core Account can be obtained from our website or WeLab Bank App.

[8] The Extra Cash Rebate will be credited into your Core Account in terms of cash rebate within 15 working days after each calendar month from the Effective Date.

[9] The eligible daily deposit balance in the Core Account will be counted based on the day-end balance each day.

[10] The Extra Cash Rebate will be rounded to the nearest cent.

[11] This Program can be used in conjunction with the Loan-Deposit-Link Offer and WeLab Bank X Tesla 3-in-1 Combo Offer. The Interest Rate and Deposit Cap offered under this Program will supersede the interest rate and deposit cap offered under both the Loan-Deposit-Link Offer and WeLab Bank X Tesla 3-in-1 Combo Offer.

[12] The Extra Cash Rebate cannot be transferred, returned, exchanged, or converted into other forms unless otherwise specified by us.

[13] You agree and acknowledge that you are not entitled to receive any Extra Cash Rebate if you close your Core Account or investment account at any time before the Extra Cash Rebate is credited to your Core Account.

[14] Any breach of applicable laws or regulations, fraud, abuse, and/or non-compliance by you (as determined at our sole discretion) will result in forfeiture of your eligibility to participate in the Program and/or suspension or termination of all or any of your Account with us. We shall not credit the Extra Cash Rebate or where the Cash Rebate has been credited, we reserve the right to debit the Extra Cash Rebate from your Account (including but not limited to your Core Account) without notice and/or take such necessary legal action to recover any outstanding amounts.

[15] We reserve the right to suspend, modify or terminate this Program and/or amend these terms and conditions at any time without prior notice. In the event of a dispute, our decision shall be final, conclusive, and binding.

[16] Unless otherwise defined, terms defined in our Account Terms or the relevant terms and conditions of the Existing Program shall have the same meanings as in these Program Terms and Conditions when used herein.

[17] These terms and conditions shall be read in conjunction with our Account Terms and the relevant terms and conditions of the Existing Program. In the event of discrepancies or inconsistencies between these terms and conditions and the Account Terms or the relevant terms and conditions of the Existing Program, the prevailing order shall be as follows:

(i) these Program terms and conditions;

(ii) the relevant terms and conditions of the Existing Program;

(iii) the Account Terms.

[18] In the event of any discrepancy between the English and Chinese versions of these terms and conditions, the English version shall prevail.

Effective date: 23 August 2022


Core Account’s deposit is a deposit qualified for protection under the Deposit Protection Scheme in Hong Kong.

Disclaimer:

This webpage/document does not constitute any offer, solicitation, recommendation, comment or any guarantee to the purchase or sale of any investment products or services.

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/document, relevant product(s) and services, trading or investment funds, etc, you should seek advice from independent financial adviser.

The information contained on this webpage/document 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 in the country or region you are located or resident in.

This webpage/document is issued by Welab Bank Limited. The contents of this webpage/document have not been reviewed by the Securities and Futures Commission in Hong Kong.