Hello,

Guest!

HSBC Bank Home Loan Interest Rate

HSBC Bank home loan interest rate begins from 8.45% for salaried customers and 8.85% for self-employed individuals. HSBC home loan interest rate could vary for different customers due to divergent credit score, age, earnings in a calendar year, status of employment, repayment history and respective capacities. 

Updated:

HSBC Home Loan Interest Rates for all Schemes in India

HSBC home loan interest rates fluctuate marginally due to different types of home loans offered by the lender in India. HSBC Bank India offers standard home loans, smart home loans, loan against property, smart loan against property, NRI home loans, NRI home loans against property and sustainable mortgages. 

  1. HSBC Home Loan: HSBC housing loan interest rate for Home Loan begins from 8.75% for salaried professionals and 8.85% for self-employed individuals. The maximum loan amount that can be disbursed under HSBC home loans is Rs 40 crore, while the maximum tenure is capped at 25 years. 
  2. HSBC Smart Home Loan: The maximum tenure and loan amount remains the same for Smart Home Loan. HSBC home loan interest rate for smart homes begins from 9% p.a. for salaried class customers and 9.10% for self-employed borrowers. The HSBC home loan rates escalate to 9.40% and 9.50% for salaried and self-employed, respectively, without commitment fee. 
  3. HSBC Loan Against Property: The maximum loan tenure for HSBC loan against property is restricted to 15 years and the maximum loan amount at Rs 40 crore. HSBC housing loan interest rate for loan against property starts from 9.75%.
  4. HSBC Smart Loan Against Property: HSBC Bank home loan interest rate for smart loan against property is a little higher as compared to standard loan against property. The HSBC housing loan interest rate for smart home loans against property is 9.85% for salaried & self-employed customers with commitment fee and from 10.10% without commitment fee. 
  5. HSBC NRI Home Loan: HSBC home loan interest rate for NRI home loans commences from 8.60%. Customers will be entitled to the benefit of HSBC Premier globally by availing a home loan of more than Rs 1.15 crore. The maximum loan amount and loan tenure for HSBC NRI home loan is Rs 40 crore and 25 years. 
  6. HSBC NRI Loan Against Property: HSBC housing loan interest rate for NRI loan against property originates from 9.75%. The maximum loan amount under HSBC NRI loan against property remains similar but the maximum loan tenure reduces to 15 years. 
  7. HSBC Sustainable Mortgages: HSBC Bank home loan interest rate for sustainable mortgages begins from 8.5% onwards. HSBC offers preferential home loan interest rates for customers who opt for a certified sustainable residential property. Additional benefits include zero processing fees. The maximum loan amount under sustainable mortgages is also capped at Rs 40 crore. 

Compare HSBC Home Loan Interest Rate with Top Banks

Home Loan Interest Rate 2023
Bank/Housing FinancierRate of Interest
HSBC Bank Home Loan8.45%
HDFC Bank Home Loan9.40% - 9.95%
Kotak Bank Home Loan8.70%
PNB Housing Finance8.50%
Federal Bank Home Loan8.80%
L&T Housing Finance8.60% - 8.75%
IDFC Home Loan8.75%
Bajaj  Home Loan8.50% - 15.00%
Home First Home Loan8.00% - 17.50%
DMI Home Loan11% - 15.50%
ICICI Home Loan9.00% - 10.05%
SBI Home Loan8.40% - 10.05%

home loan for dream home

Factors affecting HSBC Bank Home Loan Interest Rates

  • HSBC Bank home loan interest rates can differ due to many factors as each customer/borrower has a different profile. The indicative home loan interest rate of HSBC Bank could be different for a Rs 1 crore home loan from a HSBC home loan of Rs 50 lakh. 
  • The major component of best home loan interest rate is derived from Marginal Cost of Funds-based Lending Rate (MCLR). Banks and housing financiers also have Repo Linked Lending Rate (RLLR) based home loans. 
  • Age of the borrower and credit score are by far the paramount deciding factors that dictate the applicable home loan interest rate for a respective loan amount and for a set number of years. 
  • The repayment history of the borrower (if any) plays a crucial role in ascertaining the home loan interest rate as banks are less willing to extend a fresh line of credit through a home loan if the borrower has a history of default/s. 
  • Over and above this, multiple factors fall into place including the nature of property, the earnings capacity, stability of employment, ongoing liabilities and the credit utilisation ratio. 
  • In order to get the best home loan interest rate, the borrowers should always try to apply for a home loan while maintaining a credit score in the prime range, ideally over 750. 
  • Low-to-no debt obligations, zero record of defaults, an optimal mix of credit, stable employment and low age can help in securing a lower rate of interest on home loans. 

Tips to Get Home Loan at Lowest Interest Rate from HSBC Bank

  1. Customers can avail a home loan at lowest interest rate from HSBC Bank by maintaining a high credit score. A credit score in good shape exhibits the behaviour of a borrower towards credit and obliging the debt repayment obligations in the past. 
  2. A joint home loan application is a tested tactic that can help you obtain a home loan at lower interest rates as the liability spreads over two individuals. Furthermore, lenders tend to consider the combined income levels and repayment capacities in order to extend a higher loan amount at lowest possible interest rates. 
  3. You can ensure a debt-free profile before obtaining a home loan, if attainable. No debt commitments can help you secure a home loan at favourable interest rates, that effectively lowers your net interest outgo. 
  4. Declaring women as a primary borrower can also help in getting a lower interest rate on a home loan as most scheduled commercial banks, as well as foreign banking entities have low-interest rate offers on home loans exclusively for women borrowers. 
  5. Opting for a shorter repayment tenure can further increase your chances of obtaining a home loan at a much lower rate of interest as compared to a tenure exceeding two decades. 
  6. A higher down payment for the real estate asset can instill more confidence of a lender towards your profile as such actions displays your commitment to repaying the loan at the earliest possible time.

Also Check: 1 Crore Home Loan EMI

apply for best home loan

Best Value Home Loans

MyMoneyMantra is India’s largest phygital loan distributor. With trust of 70 lakh customers, we assure hassle free access to the best Home Loans up to 10 crore for housing loan borrowers in India. Our service is 100% free. We use latest technology and AI to serve customers across the length & breadth of our diverse country. Check Eligibility & Apply.

HSBC Bank Home Loan Interest Rates FAQs

Which is better to get a home loan - HSBC or HDFC?

image

Almost all the banks are the same. HSBC Bank may prove to be more acceptable for one, while HDFC Bank may emerge as the first choice for the other. At the end of the day, the most suitable bank/housing financier to secure a home loan would be the entity that is offering you a home loan at the lowest possible rate of interest, processing fees and other related charges on the basis of your present credit profile. 

What is the MCLR rate for HSBC bank?

image

The MCLR for HSBC Bank ranges between 8.40% and 8.85% for different repayment tenures. An MCLR of 8.40% is charged for a brief period of overnight, 8.55% for a month, 8.70% for a 3-month period, 8.80% for 6 months and 8.85% for a year. 

Can I apply for a home loan if my property is under construction?

image

Yes. You can apply for a home loan if the property is under construction. In such cases, the lenders disburse your home loan amount in tranches directly to the builder as per the requirements declared beforehand. 

Can Non-Resident Indians (NRIs) avail home loans from HSBC Bank?

image

Yes. NRIs can avail home loans from HSBC Bank. For NRIs, HSBC Bank offers standard home loans and loans against property in India. 

What is age limit to apply for a HSBC home loan?

image

The age of the borrower should be more than 21 years to become eligible for a home loan from HSBC Bank. The maximum age of the borrowers should be 58 years for salaried customers, 60 years for public employees and 65 years for self-employed professionals. 

What is the turnaround time for HSBC Home Loan disbursement?

image

HSBC Bank takes nearly seven days to process and disburse a home loan after successful submission of property documents.