Fusion Bank announced it has formed a green financing partnership with JC Motor Limited, the exclusive distributor of BYD electric cars in Hong Kong, to offer prospective BYD electric car owners Fusion Bank's flexible and convenient flagship "Easy Fund" loan. By applying for Fusion Bank's "Easy Fund" loan, customers can purchase BYD vehicles without collateral or loan prepayment, enjoy at the quickest same-day approval and disbursement, as well as an Annual Percentage Rate (APR) as low as 3.90% and membership rewards of up to HKD 9,100.
Eric Sum, Managing Director, Chief Financial Officer, Alternative Chief Executive of Fusion Bank, said: "Fusion Bank is committed to supporting the development of green finance and is the first virtual bank in Hong Kong to launch the market-first unsecured loan for electric vehicles. We are pleased to partner with yet another renowned electric car brand in the market, enabling more prospective electric vehicle owners to benefit from our seamless car loan services. This partnership with JC Motor will provide prospective BYD electric car owners with an exceptional and smooth 'Easy Fund' loan experience. The whole process can be completed on our mobile app and the loan can be approved on the same day, giving customers the power to purchase their vehicles quicker. Combining Fusion Bank's leading vision to promote green finance with the edges of well-known electric vehicle brand BYD, we believe this partnership will become a major force in promoting the popularization of electric vehicles in Hong Kong."
Raymond Cheung, Chief Operating Officer of JC Motor Limited, said: "As a pioneer of green-energy cars, BYD has been committed to developing new, efficient clean energy and transportation over the years to improve people's lives. As the exclusive distributor of BYD electric cars in Hong Kong, we are also committed to supporting Hong Kong in realizing its vision of zero-carbon transportation. We are pleased to partner with local virtual bank Fusion Bank for the first time, to promote the popularization of electric vehicles through a convenient loan application process for prospective BYD car owners. This alliance will support Hong Kong in accelerating its pace towards becoming a green, smart city."
The "Easy Fund" loan for prospective BYD electric car owners differs from traditional car loans, as customers do not need to use their vehicles as collateral. The "Easy Fund" loan combines the benefits of both revolving and instalment loans, meaning customers only have to apply once. They can then redraw within their available credit limit and repay in instalments once the loan has been approved, giving them the flexibility to use their loans to meet other financial needs. Regarding the loan application process, prospective BYD car owners can simply login to Fusion Bank's mobile app and complete their loan application in a few simple steps without submitting any supporting documents2. The whole process is quick and convenient, and no handling or additional fees will be incurred.
From today until December 31st, 2022, customers who successfully apply, obtain approval for and withdraw Fusion Bank's "Easy Fund" loan using BYD's designated invitation code, and join the Fusion Auto Club as a BYD car owner can enjoy multiple rewards, including:
• Up to HKD 1,100 cash rebate;
• Car maintenance services, parking coupons and Fusion Bank finance rewards valued up to HKD 8,000;
• Fixed APR Loan Interest Coupon with an APR of as low as 3.90%
