FAQ

Any fees required to pay during the loan application?

Without any fees, legal fees and valuation fees*

Are loan procedures handled by a lawyer?

GICL works with reputable solicitors in Central to ensure that mortgagees receive high-quality and reliable mortgage services.

What are the procedures of apply for mortgage loans?

Step 1 Call, fax, online application, Whatsapp or visit the company application
Step 2 Provides documents immediate for approval
Step 3 The fastest withdrawals within 5 hours

How long does it required for telephone approval?

Customer Service Officer will immediately conduct a preliminary examination and approval in accordance with the basic information provided by the owner.

What is “Interest-only”? What is “declining balance method”?

Interest-only: Before the maturity date, repayments only include the interest. The principal has to be paid off when the loan matures.

“Declining balance method” is a calculation of interest. The loan balance will be reduced as each installment is paid. Interest will be calculated on the loan balance after each repayment.

Does deed of gift can apply for the mortage?

We accept over 5 years deed of gift for the application.

If the property is jointly owned, whether the consent of all the owners before they can apply for a loan?

Yes, the joint owners of the property subject to the consent of all loan applications. By one of the owners / trustees application process at the time of application, and the signing of a formal loan agreement, all joint owners of the property shall be the law firm to complete the formalities.

Does GICL accept Loan application for joint tenancy property, if one of the owners is deceased?

Yes, we accept application for joint tenancy property only if the probate procedures are completed; we can arrange lawyer if needed.

Over 60 years old or retiree can apply for a loan?

Yes.

Any revolving credit facility for the exciting GICL customers?

Yes. If you are GICL customers, we will set up a revolving credit facility account to you and reducing the re-approval procedures to help faster cash flow.

Can the sale of the property during the loan?

Customers can sell the property at any time during the contributions, without the need to obtain the consent of by GICL.

Can I apply for a loan by pledging an old or tenement building?

Yes. Regardless of age, pledgeable properties include private houses, tenement buildings, small houses, village houses, commercial properties, factories, office buildings and parking spaces.

What are the basic requirements for personal loan application?

The basic application criteria for GICL personal loan are that the applicant must be a Hong Kong permanent resident aged 18 or above and have regular employment.

Upon loan application, will GICL check on the applicant’s personal credit records with a credit reference agency?

In general, GICL will check on the customer’s credit report which will serve as part of the assessment for loan application.

What is ‘declining balance method’?

“Declining balance method” is a calculation of interest. The loan balance will be reduced upon each installment repayment. Interest will be calculated on the basis of loan balance after each repayment.

Will GICL charge any handling fee?

No. GICL will not charge any handling fees.

Will my loan application be disclosed to my family or friends?

Never. In accordance with the terms of the Personal Data (Privacy) Ordinance, all your information will be kept strictly confidential.

How can I apply for GICL personal loan?

You can apply GICL personal loan online.

What documents are required for a loan application?
  • Hong Kong Identity Card
  • Income proof, e.g., payroll slip, tax demand note, monthly bank account Current Residential proof
  • Bank statement
  • Any other documents or certificates deemed appropriate
Can I apply for a loan without any income proof?

Yes. We will make an exemption for the applicant subject to individual cases.

*Specify Plan