Hong Kong’s Fusion Bank offer digital loans for BYD electric cars

The loan has an annual percentage rate (APR) of as low as 3.9%.

Hong Kong’s Fusion Bank has partnered with JC Motor Limited, the exclusive distributor of BYD electric cars in the city, to offer easy fund loans.

Customers can now purchase BYD vehicles without collateral and loan prepayment, as well as enjoy same-day approval and disbursement, when they apply for a car loan with Fusion Bank. The loan has an annual percentage rate (APR) of as low as 3.9%.

Loan customers can also enjoy membership awards of up to HK$9,100.
 
 The “Easy Fund” loan reportedly combines the benefits of both revolving and installment loans, meaning customers only have to apply once, Fusion Bank said. They can then redraw within their available credit limit and repay in installments once the loan has been approved, giving them the flexibility to use their loans to meet other financial needs. 

To apply, prospective BYD car owners need only to login to Fusion Bank’s mobile app and complete their loan application in a few simple steps without submitting any supporting documents, the bank said.