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Mortgage — first-year cost

What does the first year of this mortgage cost?

Every sample states prime minus a spread, HIBOR plus a spread, and the HIBOR cap. This page marks whether the payment is currently using H or currently using P.

File freeze date

20 Oct 2026

Sample 1-month HIBOR 1.85% and sample prime 5.88% are frozen in this file. They are not a live fixing, and the feed is not broken.

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How to size the loan

Price HK$8,000,000, LTV 70%, loan HK$5,600,000, 25 years.

See the mortgage board

These mortgages are illustrative samples. HIBOR and prime are frozen numbers in this file, not today’s fixing. A cash rebate may have to be returned inside the lock-in.

TrueCash only compares and illustrates. It is not a mortgage broker, it does not take applications, and it does not pick a plan for you.

Ranked by the cost you picked

All 9 samples fit.

The payment uses the side marked in force: capped H or P, whichever is lower, unless the file sets a bank rule. First-year cost is interest over the first 12 months, plus upfront fees, minus any cash rebate. Mortgage insurance is left out. The numbers are illustrative.

  1. 1

    Standard Chartered

    HIBOR cash-rebate plan

    HK$118,177.02First-year cost

    Lowest first-year cost on this scenario

    Currently using H

    Prime rate
    P − 2.10%
    All-in 3.77%
    HIBOR rate and cap
    H + 1.50%
    capped at 4.00% · All-in 3.35%

    Sample all-in H is 3.35%. Sample all-in P is 3.77%. The lower one is H, so the payment uses 3.35%.

    • Rate cap
    • Cash rebate
    • Lock-in
    Monthly payment
    HK$27,586.44
    First-year cost
    HK$118,177.02

    The 4.00% cap does not bind at this sample HIBOR.

    First-year cost already subtracts the cash rebate of HK$67,200. Inside the lock-in, early redemption may require that rebate back.

    The instalment may not be the cheapest. Year-one cost looks low because of the rebate. The 4.00% cap does not bind at this sample HIBOR.

    Sample: the rebate is large and the lock-in is long. Leave inside 36 months and the rebate this page deducted may have to be returned.

    Updated 20 Oct 2026Bank site, Standard Chartered HIBOR cash-rebate plan, opens in a new tab

  2. 2

    Bank of China (Hong Kong)

    HIBOR mortgage

    HK$140,690.61First-year cost

    Currently using H

    Prime rate
    P − 1.80%
    All-in 4.08%
    HIBOR rate and cap
    H + 1.20%
    No cap · All-in 3.05%

    Sample all-in H is 3.05%. Sample all-in P is 4.08%. The lower one is H, so the payment uses 3.05%.

    • Cash rebate
    • Lock-in
    Monthly payment
    HK$26,701.70
    First-year cost
    HK$140,690.61

    First-year cost already subtracts the cash rebate of HK$28,000. Inside the lock-in, early redemption may require that rebate back.

    No rate cap. The rebate is 0.50% of the loan, capped at HK$40,000 in this sample. Maximum LTV is 70%.

    Sample: the lock-in is 36 months. Refinancing inside it may mean returning the whole rebate.

    Updated 20 Oct 2026Bank site, Bank of China (Hong Kong) HIBOR mortgage, opens in a new tab

  3. 3

    Dah Sing Bank

    Higher-LTV prime plan

    HK$142,333.77First-year cost

    Currently using P

    Prime rate
    P − 2.40%
    All-in 3.48%
    HIBOR rate and cap
    H + 2.00%
    capped at 4.50% · All-in 3.85%

    Sample all-in H is 3.85%. Sample all-in P is 3.48%. The lower one is P, so the payment uses 3.48%.

    • Rate cap
    • Cash rebate
    • High LTV
    • Lock-in
    Monthly payment
    HK$27,959.89
    First-year cost
    HK$142,333.77

    The 4.50% cap does not bind at this sample HIBOR.

    First-year cost already subtracts the cash rebate of HK$50,000. Inside the lock-in, early redemption may require that rebate back.

    The discount to prime is smaller, so the instalment is higher. The rebate and the higher LTV are the point of this sample.

    Sample: 90% LTV often needs mortgage insurance, and that premium is not in this page. The rebate locks for 36 months.

    Updated 20 Oct 2026Bank site, Dah Sing Bank Higher-LTV prime plan, opens in a new tab

  4. 4

    Citibank

    HIBOR mortgage

    HK$152,070.70First-year cost

    Currently using H

    Prime rate
    P − 2.40%
    All-in 3.48%
    HIBOR rate and cap
    H + 1.35%
    capped at 3.10% · All-in 3.10%

    Sample all-in H is 3.10%. Sample all-in P is 3.48%. The lower one is H, so the payment uses 3.10%.

    • Rate cap
    • Cash rebate
    • Valuation fee
    • Lock-in
    Monthly payment
    HK$26,848.02
    First-year cost
    HK$152,070.70

    Before the cap, H is 3.20%. After the cap, H is 3.10%.

    First-year cost already subtracts the cash rebate of HK$22,400. Inside the lock-in, early redemption may require that rebate back.

    The upfront fee of HK$3,000 is included in the first-year cost.

    H+1.35% sits a little above the 3.10% cap, so the capped rate is used. There is also a sample valuation fee.

    Sample: 24-month lock-in. The HK$3,000 valuation fee is an expense in this illustration.

    Updated 20 Oct 2026Bank site, Citibank HIBOR mortgage, opens in a new tab

  5. 5

    HSBC

    1-month HIBOR plan

    HK$163,051.18First-year cost

    Currently using H

    Prime rate
    P − 2.00%
    All-in 3.88%
    HIBOR rate and cap
    H + 1.30%
    capped at 3.50% · All-in 3.15%

    Sample all-in H is 3.15%. Sample all-in P is 3.88%. The lower one is H, so the payment uses 3.15%.

    • Rate cap
    • Cash rebate
    • Lock-in
    Monthly payment
    HK$26,994.79
    First-year cost
    HK$163,051.18

    The 3.50% cap does not bind at this sample HIBOR.

    First-year cost already subtracts the cash rebate of HK$11,200. Inside the lock-in, early redemption may require that rebate back.

    The cap may not bind at this sample HIBOR. The rebate has a ceiling.

    Sample: refinance or early redemption inside 24 months may require the cash rebate to be returned.

    Updated 20 Oct 2026Bank site, HSBC 1-month HIBOR plan, opens in a new tab

  6. 6

    Bank of China (Hong Kong)

    Prime mortgage

    HK$164,404.10First-year cost

    Currently using P

    Prime rate
    P − 2.60%
    All-in 3.27%
    HIBOR rate and cap
    H + 1.55%
    capped at 3.60% · All-in 3.40%

    Sample all-in H is 3.40%. Sample all-in P is 3.27%. The lower one is P, so the payment uses 3.27%.

    • Rate cap
    • Cash rebate
    • Lock-in
    Monthly payment
    HK$27,363.72
    First-year cost
    HK$164,404.10

    The 3.60% cap does not bind at this sample HIBOR.

    First-year cost already subtracts the cash rebate of HK$16,800. Inside the lock-in, early redemption may require that rebate back.

    Prime minus 2.60%, plus a small rebate with a ceiling.

    Sample: the rebate is small and the lock-in is 24 months. Leaving early may mean giving it back.

    Updated 20 Oct 2026Bank site, Bank of China (Hong Kong) Prime mortgage, opens in a new tab

  7. 7

    HSBC

    Prime plan

    HK$164,521.23First-year cost

    Currently using P

    Prime rate
    P − 2.90%
    All-in 2.98%
    HIBOR rate and cap
    H + 1.70%
    capped at 4.25% · All-in 3.55%

    Sample all-in H is 3.55%. Sample all-in P is 2.98%. The lower one is P, so the payment uses 2.98%.

    • Rate cap
    Monthly payment
    HK$26,483.07
    First-year cost
    HK$164,521.23

    The 4.25% cap does not bind at this sample HIBOR.

    Prime minus 2.90%. Maximum LTV is 70%. The instalment follows the sample prime, and it moves when prime moves.

    Sample: no cash rebate and no lock-in.

    Updated 20 Oct 2026Bank site, HSBC Prime plan, opens in a new tab

  8. 8

    Hang Seng Bank

    Capped HIBOR plan

    HK$165,910.93First-year cost

    Currently using H

    Prime rate
    P − 2.25%
    All-in 3.63%
    HIBOR rate and cap
    H + 1.40%
    capped at 3.00% · All-in 3.00%

    Sample all-in H is 3.00%. Sample all-in P is 3.63%. The lower one is H, so the payment uses 3.00%.

    • Rate cap
    • High LTV
    • Lock-in
    Monthly payment
    HK$26,555.83
    First-year cost
    HK$165,910.93

    Before the cap, H is 3.25%. After the cap, H is 3.00%.

    In this sample, H+1.40% sits above the 3.00% cap, so the illustration uses the capped rate. Sample LTV goes to 90%.

    Sample: there is no cash rebate. An early-redemption charge inside 12 months is not included in the monthly payment.

    Updated 20 Oct 2026Bank site, Hang Seng Bank Capped HIBOR plan, opens in a new tab

  9. 9

    Bank of East Asia

    Prime mortgage

    HK$175,641.57First-year cost

    Currently using P

    Prime rate
    P − 2.70%
    All-in 3.17%
    HIBOR rate and cap
    H + 1.60%
    capped at 3.80% · All-in 3.45%

    Sample all-in H is 3.45%. Sample all-in P is 3.17%. The lower one is P, so the payment uses 3.17%.

    • Rate cap
    Monthly payment
    HK$27,068.35
    First-year cost
    HK$175,641.57

    The 3.80% cap does not bind at this sample HIBOR.

    Prime minus 2.70%. No cap and no rebate to pull the first-year cost down.

    Sample: no rebate and no lock-in.

    Updated 20 Oct 2026Bank site, Bank of East Asia Prime mortgage, opens in a new tab

Mortgage board

Prime rate and HIBOR rate on every plan

Each row shows P−x, H+y and its cap, and whether the payment is currently using H or currently using P. The instalment amount is in the calculator above.

The table is sorted by lender. The side in force is the lower of capped H and P at the sample HIBOR and prime in the file.

  • Bank of China (Hong Kong)

    HIBOR mortgage

    Currently using H

    Prime rate
    P − 1.80%
    All-in 4.08%
    HIBOR rate and cap
    H + 1.20%
    No cap · All-in 3.05%

    Sample all-in H is 3.05%. Sample all-in P is 4.08%. The lower one is H, so the payment uses 3.05%.

    Cash rebate
    0.50%, ceiling HK$40,000
    Max LTV
    70%
    Lock-in
    36 months
    • Cash rebate
    • Lock-in

    No rate cap. The rebate is 0.50% of the loan, capped at HK$40,000 in this sample. Maximum LTV is 70%.

    Updated 20 Oct 2026Bank site, Bank of China (Hong Kong) HIBOR mortgage, opens in a new tab

  • Bank of China (Hong Kong)

    Prime mortgage

    Currently using P

    Prime rate
    P − 2.60%
    All-in 3.27%
    HIBOR rate and cap
    H + 1.55%
    capped at 3.60% · All-in 3.40%

    Sample all-in H is 3.40%. Sample all-in P is 3.27%. The lower one is P, so the payment uses 3.27%.

    Cash rebate
    0.30%, ceiling HK$25,000
    Max LTV
    80%
    Lock-in
    24 months
    • Rate cap
    • Cash rebate
    • Lock-in

    Prime minus 2.60%, plus a small rebate with a ceiling.

    Updated 20 Oct 2026Bank site, Bank of China (Hong Kong) Prime mortgage, opens in a new tab

  • Bank of East Asia

    Prime mortgage

    Currently using P

    Prime rate
    P − 2.70%
    All-in 3.17%
    HIBOR rate and cap
    H + 1.60%
    capped at 3.80% · All-in 3.45%

    Sample all-in H is 3.45%. Sample all-in P is 3.17%. The lower one is P, so the payment uses 3.17%.

    Cash rebate
    No cash rebate
    Max LTV
    80%
    Lock-in
    No lock-in
    • Rate cap

    Prime minus 2.70%. No cap and no rebate to pull the first-year cost down.

    Updated 20 Oct 2026Bank site, Bank of East Asia Prime mortgage, opens in a new tab

  • Citibank

    HIBOR mortgage

    Currently using H

    Prime rate
    P − 2.40%
    All-in 3.48%
    HIBOR rate and cap
    H + 1.35%
    capped at 3.10% · All-in 3.10%

    Sample all-in H is 3.10%. Sample all-in P is 3.48%. The lower one is H, so the payment uses 3.10%.

    Cash rebate
    0.40%, ceiling HK$50,000
    Max LTV
    75%
    Lock-in
    24 months
    • Rate cap
    • Cash rebate
    • Valuation fee
    • Lock-in

    H+1.35% sits a little above the 3.10% cap, so the capped rate is used. There is also a sample valuation fee.

    Updated 20 Oct 2026Bank site, Citibank HIBOR mortgage, opens in a new tab

  • Dah Sing Bank

    Higher-LTV prime plan

    Currently using P

    Prime rate
    P − 2.40%
    All-in 3.48%
    HIBOR rate and cap
    H + 2.00%
    capped at 4.50% · All-in 3.85%

    Sample all-in H is 3.85%. Sample all-in P is 3.48%. The lower one is P, so the payment uses 3.48%.

    Cash rebate
    1.00%, ceiling HK$50,000
    Max LTV
    90%
    Lock-in
    36 months
    • Rate cap
    • Cash rebate
    • High LTV
    • Lock-in

    The discount to prime is smaller, so the instalment is higher. The rebate and the higher LTV are the point of this sample.

    Updated 20 Oct 2026Bank site, Dah Sing Bank Higher-LTV prime plan, opens in a new tab

  • Hang Seng Bank

    Capped HIBOR plan

    Currently using H

    Prime rate
    P − 2.25%
    All-in 3.63%
    HIBOR rate and cap
    H + 1.40%
    capped at 3.00% · All-in 3.00%

    Sample all-in H is 3.00%. Sample all-in P is 3.63%. The lower one is H, so the payment uses 3.00%.

    Cash rebate
    No cash rebate
    Max LTV
    90%
    Lock-in
    12 months
    • Rate cap
    • High LTV
    • Lock-in

    In this sample, H+1.40% sits above the 3.00% cap, so the illustration uses the capped rate. Sample LTV goes to 90%.

    Updated 20 Oct 2026Bank site, Hang Seng Bank Capped HIBOR plan, opens in a new tab

  • HSBC

    1-month HIBOR plan

    Currently using H

    Prime rate
    P − 2.00%
    All-in 3.88%
    HIBOR rate and cap
    H + 1.30%
    capped at 3.50% · All-in 3.15%

    Sample all-in H is 3.15%. Sample all-in P is 3.88%. The lower one is H, so the payment uses 3.15%.

    Cash rebate
    0.20%, ceiling HK$30,000
    Max LTV
    80%
    Lock-in
    24 months
    • Rate cap
    • Cash rebate
    • Lock-in

    The cap may not bind at this sample HIBOR. The rebate has a ceiling.

    Updated 20 Oct 2026Bank site, HSBC 1-month HIBOR plan, opens in a new tab

  • HSBC

    Prime plan

    Currently using P

    Prime rate
    P − 2.90%
    All-in 2.98%
    HIBOR rate and cap
    H + 1.70%
    capped at 4.25% · All-in 3.55%

    Sample all-in H is 3.55%. Sample all-in P is 2.98%. The lower one is P, so the payment uses 2.98%.

    Cash rebate
    No cash rebate
    Max LTV
    70%
    Lock-in
    No lock-in
    • Rate cap

    Prime minus 2.90%. Maximum LTV is 70%. The instalment follows the sample prime, and it moves when prime moves.

    Updated 20 Oct 2026Bank site, HSBC Prime plan, opens in a new tab

  • Standard Chartered

    HIBOR cash-rebate plan

    Currently using H

    Prime rate
    P − 2.10%
    All-in 3.77%
    HIBOR rate and cap
    H + 1.50%
    capped at 4.00% · All-in 3.35%

    Sample all-in H is 3.35%. Sample all-in P is 3.77%. The lower one is H, so the payment uses 3.35%.

    Cash rebate
    1.20%, ceiling HK$80,000
    Max LTV
    80%
    Lock-in
    36 months
    • Rate cap
    • Cash rebate
    • Lock-in

    The instalment may not be the cheapest. Year-one cost looks low because of the rebate. The 4.00% cap does not bind at this sample HIBOR.

    Updated 20 Oct 2026Bank site, Standard Chartered HIBOR cash-rebate plan, opens in a new tab

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Not financial advice, and not a bank offer.

These notes are illustrative samples so the site shows a review trail. They are not bank news and they are not offers.