What is a personal instalment loan?

Personal Instalment loans are unsecured loans that are given without any form of collateral or security to be pledged against the amount borrowed. With instalment loans, you are bound to a fixed instalment schedule and are required to make regular fixed payments over an agreed loan tenure to settle your loan amount. Many banks and lending companies in Hong Kong such as HSBC, Bank of China (Hong Kong), Bank of East Asia, Citibank and Standard Chartered Bank offer various kinds of personal loan products such as personal instalment loans, debt consolidation and credit line.