BANKS are battling for their share of the tax loans market with a range of cheap rates and special services.
It is a low risk, highly lucrative product and banks are willing to sacrifice some of their margin in a bid to boost market share.
Hongkong Bank and Hang Seng Bank will allow couples with separate tax assessments to apply jointly and pool their loan amounts to obtain lower interest rates.
Alternatively, Hongkong Bank is offering groups of five applicants or more from the same company - with an average loan of $12,000 or more - the option of pooling their individual loans of between $5,000 and $15,000 for lower rates.
Hang Seng Bank allowed customers to draw down their loan in two phases according to the tax payment dates.
American Express is offering preferential rates to its card holders, while existing customers of Bank of America are enjoying lower rates.
Alternatively, Standard Chartered is halving the annual fee for credit card applicants.