OREANDA-NEWS. November 28, 2011. The Bank of East Asia (“BEA”) announces the launch of its 2011 Corporate Tax Loan Programme. Corporate clients who successfully apply for a Corporate Tax Loan on or before 30th November, 2011 can receive a competitive interest rate as low as BEA’s HKD Prime Rate minus 1.0% p.a., and a full waiver of the application fee. BEA’s HKD Prime Rate is currently set at 5.25% p.a., reported the press-centre of BEA.

Under the Corporate Tax Loan Programme, BEA offers loans worth up to 200% of a client’s tax bill, which can be repaid in tenors ranging from six to 24 months. The arrangement fee is fixed at 0.5% of the loan amount, or HKD 1,000, whichever is higher. The drawdown can either be issued as a cashier’s order payable to the Inland Revenue Department direct, or credited to a designated BEA corporate account.

Mr. William Chu, General Manager & Head of Corporate Banking Division at BEA, says, “Our new Corporate Tax Loan Programme features highly competitive rates and flexible terms, tailored to the objectives of our corporate clients and helps them meet their tax obligations or other financial needs.”

 To apply for a BEA corporate tax loan, clients may simply return a completed application form with copies of their tax demand note, business registration certificate, and bank statements for the past six months.

BEA assists corporate clients to expand their businesses by offering various flexible and tailor-made packages that suit their individual requirements and financial objectives. BEA’s comprehensive commercial banking services include trade finance, machinery finance, the SME Loan Guarantee Scheme, the SME Financing Guarantee Scheme, electronic banking, MPF, and general insurance services. For more information on BEA’s corporate banking services, please call (852) 2211 1338, visit any BEA branch, or access the BEA homepage at www.hkbea.com.