Local banks, especially small- and mid-size lenders like Citibank, are aggressively boosting their mortgage business by cutting interest rates and offering cash rebates, according to the Sing Tao Daily.

Citibank cut its mortgage rate to Hibor plus 1.3 percent on loans as low as HK$4 million, while some banks have increased their cash rebate rate to 1.1 percent, according to a source. Among the large banks, BOCHK (2388) may reduce the interest rate to Hibor plus 1.3 percent, subject to individual cases and the loan amount, the source added.

Source: The Standard (18 Dec, 2020 ) Read the Full Article

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