HSBC Personal Loan
HSBC Bank Personal Loan comes with several attractive features and benefits, including a high loan amount up to ₹50 Lakhs, competitive interest rates starting from 9.99%% p.a., flexible tenures of 6 to 60 months, and quick online loan processing. The loan can be prepaid anytime with a nominal prepayment charge of up to 5%.
HSBC Bank Personal Loan Details
Below are the key details of the HSBC personal loan:
Rate of Interest | 9.99%% to 14% p.a. |
Loan Amount | ₹1 Lakh to ₹50 Lakhs |
Tenure | 6 to 60 months |
Processing Fee | Up to 2% of the loan amount |
Age Required | 21 to 65 years |
Features & Benefits of HSBC Bank Personal Loan
Below are some key features of the HSBC loan:
- High loan amount: One can avail a maximum loan amount of up to ₹50 Lakhs under the HSBC personal loan. The minimum loan amount available is ₹1 Lakh.
- Flexible tenure: Customers can enjoy a flexible loan tenure on a personal loan of up to 60 months. Applicants can choose a tenure ranging from 6, 12, 18, 24, 30, 36, 42, 48, 54 or 60 months.
- Quick and simple process: HSBC understands the importance of time and hence offers the facility of quick loan processing. It does not require tedious paperwork; instead makes the documentation process simple, quick, and hassle-free.
- Prepayment facility: HSBC personal loan can be prepaid in part or in full after a lock-in period of 6 months from the loan disbursement. A penalty of up to 5% of the amount being prepaid will be levied, depending on the tenure.
HSBC Personal Loan Interest Rates & Charges
The charges associated with the HSBC Personal Loan are as follows:
Interest Rates | 9.99%% to 14% p.a. |
---|---|
Processing Fee | Up to 2% of the loan amount |
Prepayment Charges | 2% to 5% of the amount being prepaid |
Penal interest for delay in EMI payment | 2% over & above the applicable interest rate on the delayed instalment(s) |
Compare HSBC Bank Personal Loan with Other Banks
Below is the comparison of HSBC Bank personal loan interest rate with other lenders:
Lenders | Loan Amount | Interest Rate | Tenure |
---|---|---|---|
HSBC Bank | ₹1 Lakh to ₹50 Lakhs | 9.99%% to 14% p.a. | 6 to 60 months |
Axis Bank | ₹50,000 to ₹40 Lakhs | 9.99% to 22.00% p.a. | 12 to 84 months |
Unity Small Finance Bank | Up to ₹5 Lakhs | 16.00% to 30.00% p.a. | 6 to 36 months |
IDFC First Bank | Up to ₹10 Lakhs | 9.99% to 23.99% p.a. | 9 to 60 months |
IndusInd Bank | ₹50,000 to ₹50 Lakhs | 10.49% p.a. | 12 to 84 months |
Kotak Mahindra Bank | ₹50,000 to ₹35 Lakhs | 10.99% to 16.99% p.a. | 12 to 72 months |
Yes Bank | ₹1 Lakh to ₹40 Lakhs | 11.25% to 21.00% p.a. | 12 to 60 months |
DBS Bank | ₹50,000 to ₹50 Lakhs | 10.99% to 30.00% p.a. | 12 to 72 months |
ICICI Bank | ₹50,000 to ₹50 Lakhs | 10.85% to 16.65% p.a. | 12 to 72 months |
Federal Bank | Up to ₹25 Lakhs | 11.49% to 14.49% p.a. | Up to 48 months |
HSBC Personal Loan Eligibility Criteria
One must pass the following HSBC personal loan eligibility norms to be eligible for an HSBC personal loan:
- Applicants must be salaried or self-employed.
- Salaried applicants must be aged between 21 to 60 years.
- Self-employed applicants must be aged between 21 to 65 years.
- Only Indian residents and citizens can apply.
- Non-resident Indian (NRI) customers cannot apply.
- The correspondence address of the applicant should be within India.
- The applicant must have an active HSBC savings and/ or current account opened for more than 3 months.
- The loan application is valid only in the cities of Mumbai, New Delhi, Pune, Ahmedabad, Bangalore, Chandigarh, Chennai, Hyderabad, Kochi, Coimbatore, Jaipur, and Kolkata for existing and new HSBC customers.
- The loan application is valid only in the cities of Bhubaneshwar, Nagpur, Lucknow, Visakhapatnam, and Surat for Employee Banking Solutions customers of HSBC.
Documents Required for HSBC Bank Personal Loan
If you are eligible for an HSBC personal loan apply online with the following documents:
- Completed personal loan application form with a passport-sized photograph.
- Valid Identity Proof (any one of the following):
- Passport
- Voter ID Card issued by the Election Commission of India
- Driving Licence
- Aadhaar Card
- Job Card issued by NREGA & signed by an officer of the state government
- Residence Proof (any one of the following):
- Passport
- Election/ Voter's ID Card
- Ration Card
- Permanent Driving Licence
- Society Outgoing Bill (from registered societies only)
- Water/ Electricity/ Telephone/ Pipeline Gas Connection Bill
- Property Tax Receipt
- Domicile Certificate containing the address issued by the Municipal Corporation.
- Registered Rent or Lease Agreement, registered with the State Government or similar registration authority
- Age Proof (any one of the following):
- Driving License
- Passport
- Photo PAN Card
- Birth Certificate
- School Leaving Certificate
- Financial Documents for Salaried Individuals:
- Latest Salary Slip containing statutory deductions OR
- Form 16 (Declaration from employer providing details of income & deductions), duly signed by an authorised signatory of the company AND
- Last 3 months’ Salary Account Statements
- Financial Documents for Self-employed Individuals:
- Audited/ Certified Financials (P&L Account and Balance Sheet) AND
- Acknowledged Income Tax Returns for the last 2 years AND
- Last 6 months’ Bank Statements of the Primary Account
How to Apply for an HSBC Personal Loan
You can apply for an HSBC personal loan online on our portal.
- On our website, under the ‘Loans’ section, select ‘Personal Loan’ and then choose the ‘HSBC Personal Loan’ option
- Provide all the important details such as your name, mobile number, email ID, and other details.
- Based on these details, MyMoneyMnatra will assess your eligibility to provide the best personal loan options with their interest rate, tenure, and other important information.
- Choose the most suitable option and submit your application.
- Our team will get in touch with you.
- Once you have applied for the loan with us, you can also check your HSBC application status online
HSBC Personal Loan Customer Care
HSBC bank provides the following customer care toll-free numbers where customers can ask their queries regarding personal loans:
- Toll-free Number within India: 1800 267 3456 or 1800 121 2208
- Toll-free Number from Overseas: +91-40-65118002 or +91-22-71728002
FAQs
Yes, HSBC provide personal loans up to ₹50 Lakhs at competitive interest rates starting from 9.99%% p.a.
To check your HSBC loan eligibility, you can log in to your Personal Internet Banking account and apply online for a personal loan or contact HSBC at 1800 267 3456 or 1800 121 2208. Key personal loan eligibility factors generally include being an Indian resident or citizen aged between 21 and 65 (depending on employment type), having an active HSBC Bank account, a stable income, and maintaining a healthy credit score.
For an online HSBC personal loan, you may get a credit decision within 20 minutes. However, the loan amount disbursal to your account may take up to 5 hours after that. For the offline application, it generally takes up to 30 days for the personal loan application to be processed and approved/ rejected.
The charges for prepayment of the loan in part or full are up to 3% of the outstanding principal loan amount.
Yes, you can opt for early full or partial prepayment of your HSBC personal loan after a minimum 6-month lock-in period. However, you will have to pay the following charges on the amount being prepaid:
- 5% within 12 months
- 4% within 24 months
- 3% within 36 months
- 2% after 36 months
The maximum tenure for an HSBC personal loan is up to 60 months.
Yes, you can cancel your HSBC loan by either using their '30 Day Service Pledge' within 30 days of your loan disbursement date or by pre-closing the loan with a prepayment by paying charges after the initial period. To do so, you will have to send a written intimation and pay the outstanding loan amount. HSBC will then provide you with a No Due Certificate.
- 5% within 12 months
- 4% within 24 months
- 3% within 36 months
- 2% after 36 months
You can get anywhere between ₹1 Lakh to ₹50 Lakhs as a personal loan amount from HSBC, depending on your eligibility.
The personal loan credit limit at HSBC is up to ₹50 Lakhs, depending on your eligibility.
- Salaried or self-employed applicants aged between 21 to 65 years.
- Only Indian residents and citizens having a correspondence address within India.
- Must have an active HSBC savings and/ or current account opened for more than 3 months.
- The loan application is valid only in the cities of Mumbai, New Delhi, Pune, Ahmedabad, Bangalore, Chandigarh, Chennai, Hyderabad, Kochi, Coimbatore, Jaipur, and Kolkata for existing and new HSBC customers.
- The loan application is valid only in the cities of Bhubaneshwar, Nagpur, Lucknow, Visakhapatnam, and Surat for Employee Banking Solutions customers of HSBC.
To track your HSBC personal loan application status, you can visit a nearby HSBC branch, call the customer care numbers at 1800 267 3456/ 1800 121 2208, or send a secure message from your online banking account.