Interest Rate and Fines
Application Procedure
Submission of Documents
Repayment Methods
Credit Information

What is a Student Loan?
uFinance Student Loan is a private loan product tailor-made for tertiary students in Hong Kong, offering them another choice to raise funds. It also allows students to make good use of their resources and time during university, pursuing their dreams through financing and getting well prepared for their future career.

Is there a maximum limit for uFinance Student Loan and what is the repayment period?
Each applicant can apply for a student loan of a maximum amount of HKD$$100,000 , with a repayment period of 6-60 months.

Who is eligible to apply for uFinance Student Loan?
Any person who is 18 years or older and is a Hong Kong permanent resident currently enrolled in a Hong Kong university is eligible to apply for uFinance Student Loan.

If I don’t earn any source of income, can I still apply for any of uFinance loan products?
Yes. Income is only one factor that we take into consideration during our loan review and approval process, it will not directly affect the approval rate of your application.
Does uFinance Micro Fund charge any interest?
Applicant who repays their microfund within the month before their repayment deadline will not be charged any interest. However, if applicants fail to repay within the month before their repayment deadline, uFinance will chage a handling fee of HKD$24 per month for a microfund amount of HKD$500, and a handling fee of HKD$48 per month for a microfund amount of HKD$1000.

Will I be fined (or charged) if I fail to repay on time?
While an overdue payment will be charged if you fail to repay before your set deadline, however, we do understand that not all students have a fixed income, and therefore we will usually set up a grace period and a suitable and manageable repayment schedule for you via sufficient communication without trying to put extra financial pressure on you.
What is an Annual Percentage Rate? (APR)
The Annual Percentage Rate (APR) or the Annual Interest Rate is a reference rate that shows interest rates and charges for a loan product at an annualized rate. It serves as a comparison measure to make it easier for applicants to compare different rates offered by different loan companies. APR is calculated using the 『Net Present Value (NPV)』 method approved by legal, trade and government associations. In order to calculate the APR on a consistent basis, authorized institutions like banks also adop the same NPV calculation for APR.
How do I receive the loan payment after my application?
After completing your application, customer service will contact you to set up a meeting to go over contract terms and conditions. After agreeing to our terms and conditions and signing the agreement, fund will be disbursed and transferred directly to your designated personal bank account number that you provided.
How long does it take to know my application result?
After verification and a thorough review of your documents and information, the applicant will get their approval results within 15 minutes during our office hours. If we determine that the documents you submitted are insufficient, customer service specialist will contact you to submit further required documents.
What are the details on loan application and approval process?

uFinance application and approval process constitutes the following 5 steps:

  1. Online Application
  2. Submission of Documents
  3. Results Notification (Successful/Failed Application)
  4. Terms and Condition Agreement and Contract Signing
  5. Online Application
  6. Disbursement of Loan Funds.
The details of the processes is as follows:

Applicants can access the application form online. After completing the loan application, applicants are required to submit required documents as listed on our website and application procedures. If applicants fail to submit required documents, customer service specialist will contact you to resubmit the required documents. After application completion and all documents are submitted and approved, we will begin our review process. If your application is approved, customer service specialist will contact you to set up a meeting to explain the terms and conditions. After agreeing and signing our terms and condition contract, will disburse and transfer the funds directly to your designated personal bank account.

How do I revise the information I submitted in a loan application?
To revise the information you submitted on your loan application, please whatsapp us at +852 66339446
What is an electronic cheque? (e-cheque)
An electronic cheque is a type of cheque that utilizes the online platform to deposit cheques to bank accounts without being charged any handling fees. It usually takes one working/business day to receive the deposit.
Will uFinance ever send a physical letter to my home address?
Please be well assured that uFinance will never send a physical letter to an applicants』 home address unless we lose contact with you.
How do I prove my income if I receive my salary by cash?
If you have a job but fail to provide proof of salary or income, you can submit other documents such as contract or employment, signed work document, and so on to prove that you work in the company that you claim.
Am I submit my documents directly to uFinance WhatsApp Hotline Service?
Yes, you can directly submit your documents to our Whatsapp Hotline service at +852 6383 9000
What kind of documents are required to apply for a student loan?

A student loan application requires the following documents:

  • Hong Kong Permanent Residence Card (HKID)
  • Valid University Student ID Card
  • Valid Residence Address (Proof can be a letter, school transcripts, insurance, phone bills, etc issued in the last 3 months that contains your valid residence address)
  • Bank Cards and your bank statement issued in the last 3 months (all pages are required from the bank statement)

How do I repay uFinance student loan?
A payment reminder is sent to you every month when your installment is due. Please follow the instructions in the reminder to proceed with repayment.

How does uFinance manage and maintain my personal information?
We highly respect our customer’s privacy, therefore all personal information submitted by you will be highly confidential and stored in our secured database. For more information, please visit our privacy policy.