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- Grade Based Margin
Grade Based Margin
Introduction
Interest rate and the interest calculation in Grade-Based Margin financing is based on the stock ranking. There are 3 layers of outstanding based on stock quality and margin value* in Grade-Based Margin financing.
Higher proportion of blue chips in securities portfolio , lower interest rate it is. It is as low as 2.875% ! The calculation of interest rate is as follows：
The above grade-based interest rate will be based on the effective rate which is subject to the latest Hong Kong Dollar Prime (P) rate of Standard Chartered Bank.
| 代號 Stock Code | 名稱 Stock Name | 按揭比率 Margin Ratio |
| 1 | 長和 / CKH HOLDINGS | 0.80 |
| 2 | 中電控股 / CLP HOLDINGS | 0.85 |
| 3 | 香港中華煤氣 / HK and China Gas | 0.85 |
| 5 | 滙豐控股 / HSBC HOLDING | 0.80 |
| 6 | 電能實業 / POWER ASSETS | 0.85 |
| 11 | 恒生銀行 / HANG SENG BANK | 0.85 |
| 12 | 恒基地產 / HENDERSON LAND | 0.80 |
| 16 | 新鴻基地產 / SHK PPT | 0.80 |
| 17 | 新世界發展 / NEW WORLD DEV | 0.80 |
| 19 | 太古股份公司Ａ/ SWIRE PACIFIC A | 0.80 |
| 27 | 銀河娛樂 / GALAXY ENT | 0.80 |
| 66 | 港鐵公司 / MTR CORPORATION | 0.85 |
| 83 | 信和置業 / SINO LAND | 0.80 |
| 101 | 恒隆地產 / HANG LUNG PPT | 0.80 |
| 151 | 中國旺旺 / WANT WANT CH | 0.80 |
| 175 | 吉利汽車 / GEELY AUTO | 0.70 |
| 267 | 中信股份 / CITIC | 0.80 |
| 270 | 粵海投資 / GUANGDONG INV | 0.80 |
| 288 | 萬洲國際 / WH GROUP | 0.70 |
| 291 | 華潤啤酒 / CHINA RESOURCES BEER(HOLDINGS) | 0.70 |
| 384 | 中國燃氣 / CHINA GAS HOLD | 0.70 |
| 386 | 中國石油化工股份 / SINOPEC CORP | 0.80 |
| 388 | 香港交易所 / HKEX | 0.80 |
| 390 | 中國中鐵 / CHINA RAILWAY | 0.70 |
| 656 | 復星國際 / FOSUN GROUP | 0.70 |
| 688 | 中國海外發展 / CHINA OVERSEAS | 0.80 |
| 669 | 創科實業 / TECHTRONIC IND | 0.80 |
| 700 | 騰訊控股 / TENCENT | 0.80 |
| 728 | 中國電信 / CHINA TELECOM | 0.80 |
| 762 | 中國聯通 / CHINA UNICOM | 0.80 |
| 788 | 中國鐵塔 / CHINA TOWER | 0.70 |
| 823 | 領展房產基金 / LINK REIT | 0.80 |
| 857 | 中國石油股份 / PETROCHINA | 0.80 |
| 883 | 中國海洋石油 / CNOOC | 0.80 |
| 914 | 海螺水泥 / CONCH CEMENT | 0.60 |
| 939 | 建設銀行 / CCB | 0.80 |
| 941 | 中國移動 / CHINA MOBILE | 0.85 |
| 960 | 龍湖地產 / LONGFOR GROUP HOLDINGS | 0.60 |
| 966 | 中國太平保險 / CHINA TAIPING | 0.70 |
| 998 | 中信銀行 / CITIC BANK | 0.70 |
| 1038 | 長江基建集團 / CKI HOLDINGS | 0.80 |
| 1044 | 恒安國際 / HENGAN INT'L | 0.80 |
| 1088 | 中國神華 / CHINA SHENHUA | 0.80 |
| 1093 | 石藥集團 / CSPC PHARMA | 0.60 |
| 1099 | 國藥控股 / SINOPHARM | 0.65 |
| 1109 | 華潤置地 / CHINA RES LAND | 0.80 |
| 1113 | 長實集團 / CK ASSET | 0.80 |
| 1177 | 中國生物製藥 / SINO BIOPHARM | 0.60 |
| 1211 | 比亞迪股份 / BYD COMPANY | 0.60 |
| 1288 | 農業銀行 / ABC | 0.80 |
| 1299 | 友邦保險 / AIA | 0.80 |
| 1336 | 新華保險 / NCI | 0.65 |
| 1339 | 中國人民保險集團 / PICC GROUP | 0.70 |
| 1398 | 工商銀行 / ICBC | 0.80 |
| 1658 | 郵儲銀行 / PSBC | 0.70 |
| 1766 | 中國中車 / CRRC | 0.70 |
| 1800 | 中國交通建設 / CHINA COMM CONS | 0.70 |
| 1918 | 融創中國 / SUNAC | 0.30 |
| 1928 | 金沙中國有限公司 / SANDS CHINA LTD | 0.80 |
| 1988 | 民生銀行 / MINSHENG BANK | 0.40 |
| 1997 | 九龍倉置業 / WHARF REIC | 0.80 |
| 2007 | 碧桂園 / COUNTRY GARDEN | 0.50 |
| 2018 | 瑞聲科技 / AAC TECH | 0.50 |
| 2202 | 萬科企業 / CHINA VANKE | 0.50 |
| 2020 | 安踏體育/ ANTA SPORTS | 0.50 |
| 2313 | 申洲國際 / SHENZHOU INT | 0.60 |
| 2318 | 中國平安 / SHENZHOU INTL | 0.80 |
| 2319 | 蒙牛乳業 / MENGNIU DAIRY | 0.80 |
| 2328 | 中國財險 / PICC P&C | 0.65 |
| 2382 | 舜宇光學科技 / SUNNY OPTICAL | 0.60 |
| 2388 | 中銀香港 / BOC HONG KONG | 0.80 |
| 2601 | 中國太保 / CPIC | 0.70 |
| 2628 | 中國人壽 / CHINA LIFE | 0.80 |
| 2688 | 新奧能源/ ENN ENERGY | 0.60 |
| 2800 | 盈富基金 / TRACKER FUND | 0.80 |
| 2822 | 南方Ａ５０/ CSOP A50 ETF | 0.80 |
| 2823 | 安碩Ａ５０/ ISHARES A50 | 0.80 |
| 2828 | 恒生中國企業 / HSCEI ETF | 0.80 |
| 3188 | 華夏滬深三百 / CAM CSI300 | 0.80 |
| 3323 | 中國建材 / CHINA NATIONAL BUILDING MATERIAL | 0.65 |
| 3328 | 交通銀行 / BANKCOMM | 0.80 |
| 3968 | 招商銀行 / CM BANK | 0.70 |
| 3988 | 中國銀行 / BANK OF CHINA | 0.80 |
| 6030 | 中信證券 / CITIC SEC | 0.70 |
| 6837 | 海通證券 / HAITONG SEC | 0.70 |
Examples
Interest is calculated on outstanding of clients' account and on daily basis. Example of Interest Calculation:
| Case 1: Outstanding < Grade 1 Stock Margin Value |
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| Stock | Market Value | Margin Ratio | Margin Value | Total Outstanding |
| Grade 1 Stock | HK$ 125,000 | 0.8 | HK$ 100,000 | HK$ 80,000 |
| Case 2: Outstanding>Grade 1 Stock Margin Value |
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| Stock | Market Value | Margin Ratio | Margin Value | Total Outstanding |
| Grade 1 Stock | HK$ 162,500 | 0.8 | HK$ 130,000 | HK$ 150,000 |
| Other Stocks | HK$ 120,000 | 0.5 | HK$ 60,000 | |
| Case 3: Outstanding>Total Margin Value; Margin Call |
||||
| Stock | Stock Value | Margin Ratio | Margin Value | Outstanding |
| Grade 1 Stock | HK$ 375,000 | 0.8 | HK$ 300,000 | HK$ 500,000 |
| Other Stocks | HK$ 375,000 | 0.4 | HK$ 150,000 | |
| Total: | HK$ 450,000 | HK$ 500,000 | ||
FAQ
1. How to apply Grade-based margin interest plan instead of standard rate margin financing?
Existing client could contact their account executive or Customer Service Department for application form, but please note that the plan is for e-statement user only.
2. How does a client know that the application of Grade-based margin interest plan is approved?
Client will receive confirmation e-mail if their application of Grade-based margin interest plan is approved. Please contact Customer Service Department if there is no confirmation.
3. How to check Grade 1 stock list?
Please check Grade 1 Stock list in POEMS website and it would be updated from time to time.
4. How to presume accrual interest before choosing any margin financing plan?
Please check accrual interest with your portfolio details by utilizing the calculator provided.
5. If the stock held by the client is suspended, how would the stock value be calculated?
If the stock is suspended, the stock will have no market value. There would be a margin call for deposit.
6. If outstanding excess loan limit, is there any margin call?
No, margin call would occur only if outstanding excess margin value.
7.What kind of client is suitable for Grade-based margin interest plan ？
The plan is suitable for client holding blue-chips portfolio and one's Phillip account with no margin call.
8. Do both parties of joint account need to sign on opt-in form for joining Grade-based margin interest plan?
Yes, both parties of joint account need to sign on opt-in form for joining Grade-based margin interest plan.
9. Could authorized person represent their own client to sign opt-in form to go for Grade-based margin interest plan?
No, the opt-in form must be signed by client.
10. Would Grade-based margin interest plan affect the purchase power of client?
No.
11. How to check the blend interest rate of one's account on the day?
Interest rate would be shown in the end of the month in monthly e-statement.
Click in for calculator
*All of the stock margin ratio is only for reference, which is subjected to change as determined by both the market and specific company factor. We deserve the right to provide a different ratio to client based on his account situation.
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