OREANDA-NEWS. October 23, 2012. The Bank of East Asia (“BEA”) announces the launch of its 2012 Corporate Tax Loan Programme. Corporate clients who successfully apply for a Corporate Tax Loan on or before 16th November, 2012 can enjoy 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 equal to as much as 200% of a client’s tax bill, which can be repaid in terms ranging from 6 to 24 months.

The arrangement fee is fixed at 0.5% of the loan amount, or HKD1,000, whichever is higher. The loan can be drawn as a cashier’s order payable directly to the Inland Revenue Department, or as credit to a designated corporate account at BEA.

To apply for a BEA Corporate Tax Loan, clients should submit a completed application form together with copies of their tax demand note, business registration certificate, and bank statements for the past six months.

BEA helps corporate clients expand their businesses by offering flexible and tailormade packages that suit 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, Corporate Cyberbanking, MPF, and general insurance services.

For more information on BEA’s corporate banking services, please call (852) 2211 1338, or visit any BEA branch or the Bank’s homepage at www.hkbea.com.