Hong Leong Finance relaunches share loan promotion

SINGAPORE'S largest finance company Hong Leong Finance yesterday relaunched its Express Share Loan promotion, where customers can pledge their Singapore-listed shares for a quick loan.

The flat interest rate for a one-month loan of at least $2,000, subject to minimum interest of $50 per loan, is 0.8 per cent, the company said yesterday. This translates to an effective annual rate of 9.68 per cent.

A three-month loan will have a flat interest rate of 1.75 per cent, or an effective annual rate of 7.12 per cent. And the six-monthly flat rate is 2.5 per cent, or an effective annual rate of 5.13 per cent.