DBS Hong Kong steps up for small and medium enterprises (SMEs) with up to HK$180,000 welcome offer
05/10/2021
News
DBS Hong Kong today announced its latest “DBS SME $180,000 Online Account Opening Offers” package, which comprises a host of specially designed promotions to give SMEs in Hong Kong the boost they need to capitalise on the current economic situation amid the pandemic.
“This is DBS digibanking” enables SMEs to set up a new business account completely online in as quickly as three working days1 and manage their businesses at their fingertips. What’s more, the “DBS Loan Application for Business” can provide preliminary loan amount approvals as fast as 3 working days.
From now till 31 December, 2021, new SME customers who successfully submit their DBS Online Account Opening for Business can enjoy the “DBS SME $180,000 Online Account Opening Offers” package1, which includes:
- Transaction Fee Waivers
- Over HK$100,000 transaction fee waivers, including Telegraphic Transfer, FPS, Autopay/ Payroll, etc.
- Minimum Deposit Balance service fee waiver for the first 3 months; - Up to HK$50,000 Guarantee Fee’s Cash Rebate of SME Financing Guarantee Scheme (SFGS)
- Up to HK$20,000 discount for General Insurance policies
In addition, DBS is one of the banks offering the highest SME collateral-free loan of up to HK$8 million in Hong Kong.
Considering the current economic environment, the Bank sees high demand for financing and digital banking services from SMEs as they plan to expand and start new businesses as the result of decreasing in rental costs and lower interest loan rates.
According to the latest 2021 DBS Digital Readiness Survey, which garnered insights from more than 1,000 SMEs across 6 markets in APAC, 62% of SMEs in Hong Kong have clearly defined or are in development of its digital strategy and 51% of them worried they will have customer or revenue leakage for not digitalise. However, they cited the high costs of adopting new technologies as an impediment to their progress in this area.
Alex Cheung, Managing Director and Head of Institutional Banking Group, at DBS Hong Kong, said, “DBS Hong Kong focuses on addressing SMEs’ pain points and to support them every step of the way. Enabling SMEs to manage their cashflow, daily transactions and financing needs digitally is vital to accomplishing their business demands and expansion goals. By adding our “DBS SME $180,000 Online Account Opening Offers” onto the quick approval process and innovative services we are already providing through the DBS Online Business Account, we hope to help them overcome market changes and achieve sustainable growth in the long run.”
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