Mox Bank Limited (“Mox”) is continuing its one-year anniversary celebrations with the launch of ‘Instant Loan’, allowing Mox Credit customers to borrow money instantly if approved for an ‘Instant Loan’.
Mox Credit customers can use the new feature, which is already available on the Mox app, to apply for a loan on Mox Credit and get a decision instantly. Repayment periods can be set between 3 and 36 months, based on a Mox Credit customer’s individual needs.
Start with HKD10 or less^ in total fees for an Instant Loan of up to HKD25,000
As an introductory offer, Mox is simplifying the fees for an ‘Instant Loan’. Mox Credit customers applying for an ‘Instant Loan’ of HKD5,000 to HKD25,000 with a repayment period of between 3 and 6 months will only have to pay HKD10 or less in fees and interest.
Deniz Güven, CEO of Mox said, “We started Mox with a simple aim to make it easier for our customers to take control of their financial future. The new ‘Instant Loan’ answers what our customers have been asking for in terms of loan flexibility. By giving them instant decisions and allowing them to set their repayment period, we are empowering them to take advantage of new opportunities and giving them the financial freedom they deserve. Mox Credit customers can now also apply for a higher credit limit in the Mox app. These new features show how we continue to put customers at the heart of what we do by using technology to simplify the retail banking experience.”
Applying is instant and easy
Applying for an ‘Instant Loan’ is instant, easy, available 24/7 and does not require any documents. Mox Credit customers can simply access the ‘Instant Loan’ feature in the Mox app to apply for a loan at any time of the day. The ‘Instant Loan’ application will be processed instantly and if successful, the ‘Instant Loan’ amount will be credited to their Mox Account right away.
Flexible repayment periods
Mox Credit customers have the flexibility to choose ‘Instant Loan’ repayment periods of between 3 and 36 months, based on their individual needs.
Convenient credit limit increase
Mox Credit customers who want more cash than their available credit limit for Mox Credit can easily apply for a credit limit increase in the Mox app. Mox customers who do not have Mox Credit and want to apply for an ‘Instant Loan’ can apply for Mox Credit on the Mox app.
Mox Credit customers can simply go to “Accounts”, “You owe”, then “Mox Credit” in the Mox app to apply for an Instant Loan.
To borrow or not to borrow? Borrow only if you can repay!
^ For an Instant Loan on Mox Credit of up to HKD25,000 with a repayment period of between 3 and 6 months, the Annualised Percentage Rate (APR) is 0.14% - 1.05%. The fees for Instant Loan will be reviewed from time to time - please refer to the ‘Instant Loan’ Key Facts Statement for details.