Policy Loan
Apply with one app! During the promotional period, enjoy interest rates only at HIBOR (H) rate¹, easily unlock the cash value of your policy and easily access funds anytime!
Click HERE to Policy Loan Key Fact Statements
You may consult your insurance agent for more details
Enjoy the protection of your policy while obtaining extra funds without needing to surrender it!
No need for in-person meetings; the entire application process is handled online. Complete it in just 3 steps using the WeLab Bank App!
No asset proof is needed2, and no minimum deposit requirements — just a WeLab Bank account is required to apply!
Minimum loan requirements as low as HKD 100,000 with up to 90% cash value of the policy, providing flexible support for any financial strategy you have!
Simply repay the interest monthly, with the principal settled in full in the final instalment amount. Truly offers flexible cash flow, helping you adjust your financial goals at any time!
Successfully withdraw policy loan during the promotion period, WeLab Bank charges only the Hong Kong Interbank Offered Rate (H/HIBOR) with a cap of P-0.75%³! Customers can enhance cash liquidity with low risk and cost.
Contact your Prudential insurance advisor to learn more and unlock up to 90% of policy cash value!
During the promotional period, simply use your referral code (including referral codes with "FP" or "TR" as the first two letters) to invite friends or relatives to successfully apply for Policy Loan and earn cash rebate! The more friends you refer, the more you earn, with the potential to earn up to HKD 35,000!
From application and approval to management, everything can be done with just one App — no complicated steps required. Experience convenient and quick loan services anytime, anywhere!
Policy loan amounts range from HKD 100,000 to HKD 1,500,000, with repayment tenor from 6 to 24 months. You can also extend your loan term through the WeLab Bank App before the repayment period ends⁵—managing everything in one app is that simple!
Moving away from fixed rate charges, our policy loans use a floating interest rate based on the Hong Kong Interbank Offered Rate (HIBOR) to calculate monthly payment interest. This offers high flexibility and closely follows market trends, giving you an advantage in a declining interest rate environment. Before the final payment, you only need to repay the interest.
We offer policy loan services for a variety of popular life insurance products under Prudential. For more details, please consult your insurance agent.
Complete your Policy Loan application as simple as 3 steps#!
Simply fill out your loan, insurance policy, and financial information to submit your application.
The applicant of Policy Loan must have a WeLab Bank account. If you don't have one, it only takes you 5 minutes to set up#. Click here to learn more about the account opening process.
Simply fill out your loan, insurance policy, and financial information to submit your application.
The applicant of Policy Loan must have a WeLab Bank account. If you don't have one, it only takes you 5 minutes to set up#. Click here to learn more about the account opening process.
Review and confirm your personal information in Bank's record, make sure they're all updated.
Review and confirm your personal information in Bank's record, make sure they're all updated.
Review the terms of the loan agreement (including loan amount, tenor, interest rate) and sign the policy assignment document to assign your insurance policy to the Bank as collateral.
Review the terms of the loan agreement (including loan amount, tenor, interest rate) and sign the policy assignment document to assign your insurance policy to the Bank as collateral.
Lower rate, shorter wait!
To borrow or not to borrow? Borrow only if you can repay!
Click HERE to read WeLab Bank Policy Loan Key Fact Statements.
#Actual steps may vary depending on factors such as your mobile phone and documents required.
(1) As of Apr 2025, WeLab Bank is the only bank partnering with Prudential Hong Kong Limited and offering Policy loan at HIBOR (H) with have a pricing cap. Meanwhile, as of 14-May, 1 month HIBOR is 1.33%. The interest rate will be updated on every 14th calendar day based on the 1-month HIBOR rate published by The Hong Kong Association of Banks. If the 14th calendar day of the month is a non working day (i.e. Saturday, Sunday, Public Holiday), the interest rate will be updated based on the 1-month HIBOR rate published by HKAB on the previous working day.
(2) Subject to final approval requirement.
(3) Prime Rate (P) refers to the Hong Kong Dollar Prime Rate quoted by WeLab Bank from time to time. Please refer to our website for the latest information on P.
(4) As of November 2024, WeLab Bank is the only Digital Bank that partners with Prudential Hong Kong to provide an active policy loan program that uses a digital application process.
(5) Loan renewal is subject to the Terms and Conditions of WeLab Bank Policy Loan.
Read terms and conditions of WeLab Bank Policy Loan / Key Facts Statement (KFS) for WeLab Bank Policy Loan / Promotion T&C for WeLab Bank Policy Loan