Balance Transfer / Debt Consolidation Calculator

A \"balance transfer loan\", also known as a \"debt consolidation loan\", is a common debt restructuring tool in Hong Kong. Its main purpose is to combine multiple high-interest debts - such as credit card balances, personal loans and revolving loans - into a single lower-interest loan. With one unified repayment arrangement, borrowers can reduce monthly interest costs, lower the risk of missed payments and gradually improve their credit profile. For Hong Kong consumers juggling several credit cards and heavy debt, a balance transfer loan is worth considering.

In Hong Kong, many banks and licensed money lenders offer balance transfer plans, with APRs generally ranging from 3% to 20% depending on the borrower's credit rating and income. Some plans transfer the loan amount directly to your existing credit card or loan accounts, while others issue a cash cheque for you to handle yourself. Before applying, carefully compare the total interest cost, repayment term and any hidden charges.

HK FinBox 的結餘轉戶計算機，讓你輸入各項現有債務的結欠、利率及每月還款，再與一筆新的結餘轉戶貸款作比較，清楚顯示每月可節省金額、總利息節省及還款期變化。這有助你評估轉戶是否真的化算，而不是單純被廣告的低息吸引。

After taking out a balance transfer loan, cancel or reduce the credit limits on your original credit cards immediately to avoid building up new debt. Also make sure the new loan's APR is genuinely lower than the weighted average rate of your existing debts, otherwise the transfer will not help. If your debt problem is already severe, consider seeking professional debt restructuring advice from the Hong Kong Association of Banks or related organisations.