Home / Personal Loan / HSBC Bank
Interest Rate
11.29 - 17.5
Processing Fee
2.50% Max
Loan amount
75000.00 - 3000000.00
Tenure
5 years
Avail HSBC personal loan for any personal need, be it Home renovation or other home related expenses, Marriage expenses, Travel expenses, Transferring an existing loan from another bank, Purchasing consumer durables or equipment, or Any other personal needs and contingencies.

Get personal loans with flexible tenure of up to 5 years i.e. tenure from a minimum of 6 months onwards with additional block of 6 months. Choose a tenure ranging from 6, 12 , 18, 24, 30, 36, 42, 48, 54 or 60 months.

Avail maximum up to Rs. 15 Lacs. However, loans upto Rs. 30 Lacs may approved for Selected customers based on internal credit policy of HSBC.

Get an Amazon e-gift voucher worth Rs. 1,000 on loan disbursal from 1 Lac to less than 5 Lacs OR Amazon e-gift voucher worth Rs. 1,500 on loan disbursal from 5 Lacs to less than 10 Lacs OR Amazon e-gift voucher worth Rs. 2,000 on loan disbursal of 10 Lacs and above.

Easily transfer your existing personal loan from another bank to HSBC.

Enjoy easy documentation, quick processing and disbursal.

HSBC Bank Personal Loan

Currently, HSBC offers personal loan to only its existing resident customers possessing HSBC saving account, current account, salary account, or employed with selected corporates. It avails funds starting from Rs. 75,000 to as high as Rs. 30 Lacs within 2 weeks and you can choose a tenure ranging from to repay your loan ranging from 6, 12, 18, 24, 30, 36, 42, 48, 54 or 60 months to repay the loan amount. The processing fee charged by the bank is up to 2.5% of the loan amount.


HSBC Bank is a good fit for you if?

Have Annual Income of Rs. 4 Lacs – Before applying for a loan from HSBC Bank, you must know that this Bank does not avail loan for applicants who are having annual income of more than Rs. 4 Lacs. Your minimum net annual income must be Rs. 4 Lacs and above for corporate employee programmes and Rs. 5 Lacs and above for other customers.

If You're looking for loan amount of Rs. 75,000 or above – If you are looking to borrow loan of Rs. 75,000 or above, then HSBC Bank could be a good fit for you since the interest rate charged by this bank starts as low as 10.99% per annum and you are allowed to repay your loan within a tenure of 6 months to up to maximum of 60 months or 5 years which is quite a long span of time.

HSBC Bank Personal Loan at a glance

Annual Interest Rate

10.99% - 17.84%

Loan Term

6 Months - 60 Months

Loan Amount

Up to Rs. 30 Lacs

Time of Funding

Within 2 weeks

Pre-Payment Charges

Up to 3.75% of Principal Outstanding

Allowed only after first 12 months of loan disbursement

HSBC Bank offers personal loan to up to maximum of Rs. 30 Lacs within 2 weeks and to tenure to repay your loan amount is ranging from 6 months to as long as 60 months. The annual interest rate charged by the bank is ranging from 10.99% to up to maximum of 17.84% as compared to other competing banks such as Axis Bank which charges interest rate ranging from 15.5% to as high as 24% which is really a high amount. While the pre-payment charges are up to 3.75% of principal outstanding which is allowed only after first 12 months of the loan disbursement.

Why Choose HSBC Bank?

Part-Payment Allowed – If you are having a lump sum amount and wants to pay off your debts in advance then, HSBC Bank offers you the facility of part-payment of funds unlike many other competing banks or financial institutions in which Part-Payment is not allowed. So you can avail your personal loan from HSBC Bank.

Offers 30 Days Service Pledge – HSBC Bank offers you a 30 days service pledge period where you can decide whether you really needs loan from the bank or not. If you have changed your mind and decided not to avail loan then within a tenure of 30 days of purchase you have to call them or send them a mail for the same without paying any penalty or charges.

Personal Loan with minimum 6 months tenure – If you want a small amount of money for your personal loan and want to repay it within a short period of time without paying much interest rates then availing loan from HSBC would be a good choice for you as it can lend loan for a tenure of as low as 6 months.

What to watch out for?

Prepayment Allowed after first 12 months – If you want the settlement of your debt or want to pay off your debt before its official due date then you must know that the pre-payment can only be made after the repayment of your first 12 EMIs.

Partial Disbursal of Loan isn't Allowed – if you are availing personal loan from HSBC Bank then your payment will not be done in stages or you can say partial disbursement is not allowed which could be an issue for you if you needs funds in parts as compared to other banks or financial institutions which allows you to disburse your payments slowly, as the construction process.

30 Day Service Pledge isn't offered on Top-up Loans – if you have applied for a personal loan from HSBC Bank but have change your mind and decided not to purchase this loan then, within 30 days, you can invoke the services pledged but this service is only offered on regular loans, not offered on top-up loans.

Disbursal can take up to 15 days – If you have an urgent requirement of funds and can not wait for a long time, then availing loan from HSBC Bank could not be a good alternative for you as you will have to wait for 15 days after approval unlike other competing Banks or financial institutions who disburse the loan amount in a quick time span such as HDFC which lends funds within 4 hours of approval and Citi Bank which provides funds within 48 hours of approval of loan.

Offered only to existing customers – This is a drawback of HSBC Bank that it offers personal loan only to its existing customers. Hence, if you do not have any existing relationship with the bank such as saving account, current account, salary account or any other relationship, then you are not allowed to avail loan from this bank.

Available at Selected Locations – HSBC Bank currently offers personal loans in following Indian cities only only. Hence, if you want to avail funds from HSBC Bank, then you must be located in the following cities – Mumbai, Delhi, Pune, Kolkata, Bengaluru, Hyderabad, Ahmedabad, Jaipur, Chandigarh, Chennai and Cochin.

Compare HSBC Bank Personal Loans to Other Banks

Bank Name HSBC Bank Citibank Standard Chartered

Typical APR

10.99% - 17.84%

10.99% - 17.99%

11.99% - 14.49%

Loan Term

6 Months - 60 Months

12 Months - 60 Months

12 Months - 60 Months

Maximum Lending Amount

Rs. 30 Lacs

Rs. 30 Lacs

Rs. 30 Lacs

Processing Fee

Up to 2.5% of the loan amount

0.25% to 3% of the Loan Amount

Zero to upto 2.25% of the loan amount

50% off on online application

Time to Funding

Within 15 days

Within 48 hours of Approval

Within 4 to 7 working days

Pre-Closure

Up to 3.75% of Principal Outstanding

Up to 4% on total principal outstanding

1% - 5% of the Principal Outstanding

Comparing the offerings or fees of banks with other competing banks is the best way to select the bank for your prefered loan. The maximum lending amount offered by HSBC is Rs. 30 Lacs within 15 days of approval, while Citi Bank offers maximum of Rs 30 Lacs within 48 hours of approval and Standard Chartered Bank can lend maximum of Rs. 30 Lacs within 4 to 7 working days. The processing fee charged by HSBC bank is up to 2.5% of the loan amount while in case of Citi Bank, it charges 0.25% to up to 3% of the loan amount and in case of Standard Chartered, it charges zero to up to 2.25% of the loan amount and 50% off if you are applying for a personal loan from online application.

The typical APR charged by HSBC is ranging from 10.99% to up to maximum of 17.84% and in case of Citi Bank, it charges 10.99% to up to maximum of 17.99% while charges 11.99% to up to maximum of 14.49% in case of SCB. Now, coming to the pre-closure part, HSBC charges up to 3.75% of the principal outstanding, up to 4% on total principal outstanding and charges 1% to up to maximum of 5% of the principal amount as a Pre-closure charges in case of Standard Chartered Bank.

Am I Eligible?

  • Age of the applicant should be minimum 21 years to 58 years in case of Salaried Person and 21 years to 65 years in case Self-Employed applicant.
  • Applicant working in a Corporate Company should have a minimum net annual income of Rs. 4 Lacs. In case of employee of Non-corporate company/institutions, applicant should have a minimum net annual income of Rs. 5 Lacs.
  • Applicants must be an existing customer of HSBC Bank or employed with selected corporates, to be eligible for personal loan.
  • Applicant should be a permanent resident of the following indian cities – Mumbai, Delhi, Pune, Kolkata, Bengaluru, Hyderabad, Ahmedabad, Jaipur, Chandigarh, Chennai and Cochin only.

Loan Offerings

HSBC Bank Personal Loan

  • HSBC Bank offers you funds for personal loan with a minimum of Rs. 75,000 to up to maximum of Rs. 15 Lacs usually and up to Rs. 30 Lacs for selected customers as per the Bank's internal credit policy. The tenure to repay your personal loan is ranging from 6 months to as long as 60 months with a fixed interest rate. The interest rate is ranging from 10.99% per annum to up to 17.5% per annum which is occured on daily basis. The processing fees charged by the bank is up to 2.5% of the loan amount or maximum Rs. 2499. HSBC Bank offers personal loan to only existing resident customer who are holding HSBC Liability Accounts, Credit Cards, Home Loan or employed with selected corporates.
  • Documentation required for Salaried Applicants:
    • Latest salary slip showing statutory deductions OR Form 16 (Declaration from employer giving details of income and deductions, duly signed by an authorised signatory of the company).
    • Last 3 Months' Salary account statements.
    • Personal Loan Application along with a Passport Sized Photograph and KYC Details.
  • Documentation required for Self-Employed Applicants:
    • Audited / Certified Financials (P&L account and Balance Sheet).
    • Last 2 Years' IT returns
    • Last 6 months' Bank statement of the primary account.
    • Personal Loan Application along with a Passport Sized Photograph and KYC Details

HSBC Bank Personal Loan Rate of Interest

Personal Loan Type Applicable Interest Rate

HSBC Bank Personal Loan

10.99% - 17.5% per annum

How to Apply for HSBC Bank Personal Loan?

At Paisa

    • Click on ''APPLY NOW'' button
    • Fill the necessary details such as
      • Desired Loan Amount
      • Purpose of your loan
      • Your monthly salary
      • Select whether you are salaried or self-employed
      • Your name, email-id, contact no etc.
    • Now, click on ''SUBMIT''

At nearest HSBC Branch

    • Walkin to the nearest branch of HSBC Bank along with your KYC documents and collect the personal loan application form.
    • Fill your necessary details and attach the required documents.
    • Now, submit this application form at any of your nearest Branch of HSBC Bank.

After I Apply?

Check loan status

  • Through Customer Care
    • Dial 1860-266-2667 from your registered mobile number.
    • Press 1 for English or Press 2 for Hindi.
    • Now, press 2 and wait for your call to connect with the customer care executive of HSBC Bank.

Fees & Penalties

Type of Charge Applicable Charges

Processing Charges

Up to 2.5% of the loan amount

Foreclosure Charges

Allowed only after first 12 EMIs.

Up to 3 % of the outstanding amount

Part-Payment Charges

Allowed only after first 12 EMIs.

Up to 3 % of the outstanding amount

EMI Bounce Charges

Rs. 350

Penal Interest

2% over the existing interest rate, plus Rs. 250 for each late payment.

Cheque Swapping Charges

Rs. 250

The processing fee charged by HSBC Bank is up to 2.5% of the loan amount and the foreclosure charges are up to 3% of the outstanding amount which is quite a high amount as compared to other competing banks or financial institutions such as Axis which does not charge any foreclosure fee. The part-payment charges are up to 3% of the outstanding expenses and the part payment fee charged by the bank is also up to 3% of the outstanding amount. It charges Rs. 350 as EMI Bounce charges.

Now coming to the penal interest rate, HSBC Bank charges a fee which is 2% over the existing interest rate, plus Rs. 250 for each late payment, which is quite reasonable as compared to other banks such as Aditya Birla Capital which charges 24% per annum or 2% per month on the overdue amount. It charges Rs. 250 as a cheque swapping fee.

FAQs

What is the process to make the service pledge request to the HSBC Bank?

You can call Phone Banking or you can mail on [email protected] or you can submit your written request of a loan foreclosure at any HSBC India Branch within 30 calendar days of the disbursal date. You must mention that the foreclosure letter is required under the service pledge along with reason. The bank will forward your foreclosure letter at your correspondence address in bank records within 5 days of receipt of your request.

Within 15 calendar days of the issuance of the foreclosure letter late, you need to ensure that the outstanding amount is repaid and the service pledged request form duly signed by all the borrowers, is handed over at any of your nearest branch of HSBC. Any promotional gift or offers or vouchers are needed to be surrender to the bank along with the request.

How long can I take to repay my HSBC Personal Loan?

HSBC Bank currently offers a loan period of minimum 6 months to maximum period of 5 years. You can choose the loan period as per your suitability from the tenure ranges of 6 Months, 12 Months, 24 Months, 30 Months, 36 Months, 42 Months, 48 Months, 54 Months and 60 Months.

What is the EMI Due date for my HSBC Personal Loan?

HSBC Bank currently offers 2 different dates as per the date of loan disbursement. The loan disbursed between the date of 1st to 15th of any month, will have a fixed payment due date of 5th, starting from the next month.

And, the loan disbursed between the date of 16th to 31st of any month, will have a fixed payment due date of 15th, starting from the next month.

How much would HSBC Bank would charge on late payment of the Monthly EMI?

HSBC currently charges a penalty of 2% per month over the applicable interest rate. Additionally, a fee of RS. 250 will be charged for each late payment.

When can I pre-close my HSBC Personal Loan?

You can pre-close your personal loan anytime after 12 months from the date of loan disbursal by paying a fee of upto 3.75% of the principal outstanding.

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