A loan should be easy to understand before it is easy to get.
Ocean Finance Company Limited is a money lender in Tai Po, operating under Hong Kong's Money Lenders Ordinance (Cap. 163). We would rather you borrow less, or not at all, than borrow something you don't understand. So this page starts with the alternatives, the law and the arithmetic — and only then with our loans.
We are rarely your cheapest option.
Money lenders charge more than banks, because we lend to people and situations banks often turn away. Work down this list before you come to us — if something higher up solves your problem, use it.
Ask your bank first
If you have a steady income and a reasonable credit record, a bank personal loan or instalment plan will usually cost noticeably less than any money lender.
Talk to the people you owe
Landlords, card issuers and utilities often agree a payment plan if you ask before you fall behind. A plan costs nothing; a new loan to pay an old one costs interest.
Free debt counselling
If you are already juggling several debts, non-governmental organisations in Hong Kong offer free, confidential debt counselling. The Social Welfare Department can point you to one. Speak to them before taking on more credit.
Then, a money lender
If you still need a loan, have a realistic way to repay it, and have checked the total cost, that is where we come in — with every term in writing first.
What will you actually repay?
Enter the figures from any written offer — ours or anyone else's. The calculator shows the monthly instalment and, more importantly, the total, and tells you whether the rate is within Hong Kong law.
Illustration only, using a standard reducing-balance calculation with equal monthly instalments. It is not an offer and does not reflect any particular product. Fees, if any, must be included in the effective rate stated in a written agreement. Under the Money Lenders Ordinance, an effective rate above 48% per year is illegal, and a rate above 36% may be presumed extortionate.
A small number of plain loans.
No published rates — the rate depends on the amount, the term and your circumstances, and any number printed here would be wrong for most readers. What you will always get is the effective annual rate, the full repayment schedule and the total, in writing, before you sign.
Personal instalment loan
A fixed amount repaid in equal monthly instalments over an agreed term. You know the last payment date on the first day.
Short-term cash loan
For a specific, one-off expense with a clear repayment date — not for regular monthly spending.
If you need a loan every month to cover living costs, a loan is not the answer. Please speak to a debt counsellor.
Debt consolidation
Replacing several debts with one, so there is a single payment and date.
Only worth it if the total you repay goes down. Check it with the calculator above before agreeing.
Small business owner loan
For sole traders and small shop owners who need working capital, assessed on how the business actually trades.
What the law gives every borrower
These protections come from Hong Kong law, not from our goodwill. They apply to every licensed money lender, and you should expect them wherever you borrow.
01A licensed lender
Every money lender in Hong Kong must hold a licence. You can check any lender's licence yourself on the Companies Registry's register of money lenders before you deal with them.
02A legal rate ceiling
An effective annual rate above 48% is illegal, and a rate above 36% may be treated by the courts as extortionate. The rate must be stated in the agreement.
03A written agreement
The terms must be set out in writing, signed by you, and you are entitled to a copy of the signed agreement. Never sign a blank or incomplete form.
04Lawful collection only
No threats, no violence, no harassing your family, neighbours or employer, no notices posted at your door. Report any of these to the Police — whoever is doing it.
People pretending to be lenders
Fraudsters regularly use the names of real lenders. Our name is shared with an unrelated UK company, which makes it an easy one to borrow.
- Upfront "processing" or "admin" fees. Anyone asking for money before releasing a loan is not lending you money — they are taking yours.
- Intermediaries who charge you. A lender may not use an intermediary that charges borrowers. If someone offers to "arrange" a loan for a fee, refuse.
- Requests for your bank PIN, passwords or ID card to "hold". No lender needs your passwords, and you should never hand over your HKID card or bank cards.
- "Guaranteed approval" for anyone. Responsible lenders assess whether you can repay. A promise of approval without checks is a warning sign.
Asked to be a guarantor?
Signing as a guarantor is not a character reference. It is a promise to pay someone else's debt in full if they don't.
You owe the whole debt
If the borrower stops paying, the lender can ask you for the full outstanding amount, plus interest and costs.
It can affect your credit
A guarantee you are called on to honour can appear in your own credit record and affect your own borrowing.
Read before you sign
Ask for a copy of the loan agreement, know the amount and term, and take independent advice if unsure.
Common questions
No. We are a money lender operating under the Money Lenders Ordinance (Cap. 163). We do not take deposits or operate bank accounts. Our loans generally cost more than bank loans, which is why we suggest asking your bank first.
The Companies Registry keeps a public register of licensed money lenders that anyone can search. Check the exact company name and address before dealing with any lender, including us. If a lender isn't on the register, don't borrow from them.
A "monthly flat rate" is calculated on the original loan amount for the whole term, even as you repay it, so it understates the true cost. The effective annual rate reflects what you actually pay and is the figure the law caps at 48%. Always compare loans using the effective annual rate.
Collection must be lawful. Threats, harassment of family, neighbours or your employer, and notices at your home are not acceptable from any lender. If you are struggling to repay, tell us early — it is always easier to agree a revised plan before payments are missed than after.
No. Ocean Finance Company Limited is a Hong Kong company based in Tai Po and has no connection with Ocean Finance (UK) or any other company using a similar name. Reviews or advertising for that company do not relate to us.
Your HKID for identification, proof of address, and proof of income such as recent payslips or bank statements. We will look at it with you — we will not keep your identity card or bank cards.
Ask questions before you apply.
Call, email or visit our Tai Po office. Asking costs nothing, and you are under no obligation to borrow.
11 Chui Lok Street, Tai Po
New Territories, Hong Kong