A tax loan is a kind of loan that is offered by banks and money lenders to help taxpayers pay their tax bills. In Hong Kong, tax loans are usually offered during the tax season, when taxpayers file their income tax and need to settle their taxes for the previous year. The tenure of a tax loan is usually 12-24 months— typically shorter than other loan types.Usually, a tax loan in Hong Kong can be approved within a day. That means you can get the loan funds transferred to your bank account on the same day. Interest charged on tax loans can be lower than other types of loans, and people tend to opt for this loan because of easy and quick access to cash.That said, each bank or tax loan lender has its own process, requirements, and offers, so it’s best to compare and review your options carefully using a trusted loan comparison platform like Lendela.