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HSBC Bank Home Loan

When you are planning to buy your dream house, one thing that can try to shatter your goal is lack of funds. With HSBC bank home loan, you make sure your dreams manifest easily. The loan is offered for the amount starting from Rs 3 lacs and ranging up to Rs 10 crore. The bank brings home loans at convincing interest rates that start at 7.20% per annum. HSBC housing loans can be available for a flexible repay tenure of up to 25 years and this loan is provided to all the salaried people, self employed individuals and professionals. Let us dig more about this loan ahead in the section.

HSBC Housing Loan Interest Rates

Loan Amount

From Rs 3 lacs to Rs 10 crore

Interest Charges

Starts at 7.20% per annum

Processing Fees

Up to 1% of the loan amount plus applicable taxes (minimum Rs 10,000)

Tenure

Up to 25 years

Prepayment Charges

NIL on floating rate 

3% of the outstanding principal on fixed rate

HSBC Home Loan Features & Benefits 

With Interest rates, repayment tenure and prepayment facility, we have brought the prominent offerings by HSBC housing loan that you should take a walk through:

  • Purpose

HSBC bank home loan is a financial solution that you can make use of for the purchase of a new house, purchase of an under-construction house and home improvement or extension. 

  • Loan Amount

The loan amount offered under HSBC housing finance starts at Rs 3 lacs and it ranges up to Rs 10 crore. Apart from that, the eligibility profile of the applicant, repayment history and requirements are some major determinants of the loan amount that is to be sanctioned.

  • Rate of Interest

HSBC bank home loan interest rates start at 7.20% per annum for salaried borrowers and 7.30% per annum for self employed borrowers and professionals.

Know that the home loan rate of interest is determined by a set of factors including the repayment tenure, applicant’s profile and credit history.

  • Loan Repayment Tenure 

HSBC bank home loan repayment tenure goes up to 25 years for salaried borrowers and 20 years for others.

  • Prepayment

You can choose to close HSBC bank home loan early. The bank does not charge any prepayment penalty on floating rate of interest. 

The bank charges 3% of the principal outstanding paid if the loan amount is more than 25% of the total loan amount. For the amount less than 25% of the total loan, the bank charges no penalty.

HSBC Home Loan Fees & Charges

To apply for a home loan you have to pay fees and charges applied by the HSBC Bank. It covers all charges and fees made by a bank to their customers.The following charges are taken from HSBC Bank i.e processing fee, switch fee, CIBIL charges, prepayment / foreclosure charges etc.

TYPE 

CHARGES

Processing fee 

1% of the loan amount sanctioned or Rs.10000 whichever is higher plus applicable taxes

Part payment charges 

Floating rate = NIL

Fixed rate = Upto 25% of the loan amount sanctioned in every financial year is NIL

If amount is more than 25% of the loan amount sanctioned in even financial year then 3% of amount prepaid charges

Switch fee

Rs.5000

Conversion  fee 

0.50% of the outstanding amount 

CIBIL charges 

On actuals

CERSAI Registration / Modification charges 

On actuals 

Eligibility for HSBC Bank Home Loan

We have listed below the HSBC bank home loan eligibility criteria that you must meet in order to qualify to get the loan. The eligibility criteria includes your age, employment status etc. 

Here is the eligibility criteria for HSBC home loan:

  • This home loan is offered to all the Resident Indians and Non Resident Indians (NRIs). 
  • All the salaried, self employed individuals and professionals are eligible for the loan.
  • Minimum age of loan applicants should be 21 years during the time of loan commencement.
  • Salaried individuals should not be above 60 years at the time of loan termination.
  • Self employed individuals and professionals should not be above 65 years.
  • Salaried applicants must have an annual income of at least Rs 5 lacs.
  • Self employed applicants must have an annual income of at least Rs 7.5 lacs.

Documents Required for HSBC Bank Home Loan

Here are all the documents for HSBC bank home loan that you will be required to submit along with your loan application:

Documents 

Salaried Applicants

Self Employed Applicants

Identity Proof

Aadhar Card, Voter’s ID Card, Passport, Driving Licence

Aadhar Card, Voter’s ID Card, Passport, Driving Licence

Address Proof

PAN Card,  Voter’s ID Card, Passport, Driving Licence, Utility Bills such as Electricity, Telephone, Water Bills

PAN Card,  Voter’s ID Card, Passport, Driving Licence, Utility Bills such as Electricity, Telephone, Water Bills

Income Proof

Salary Slips, Bank Statements, Form 16

Balance sheet and profit and loss account, IT Returns, Business Proof

Other Documents

Passport-size Photographs, Duly Filled Application Form, Any Other Documents Required by the Bank

Passport-size Photographs, Duly Filled Application Form, Any Other Documents Required by the Bank

Compare other bank home loan interest rates

BANKS 

INTEREST RATE

AXIS Bank Home Loan

7.75% to 9.40%

SBI Home Loan

6.95% onwards 

HDFC Bank Home Loan

6.95% to 7.50%

Kotak Mahindra Home Loan

7.40% to 9.70%

Yes Bank Home Loan

9.60% to 10.55%

Citi Bank Home Loan

7.34% to 8.29%

ICICI Bank Home Loan

6.95% to 8.05%

Standard Chartered Home Loan

Starting at 8.71%

IDBI Bank Home Loan

7.80% to 8.80%

RBL Bank Home Loan

9.75% to 10.05%

IndusInd Bank Home Loan

8.00% to 15.00%

Bank of Baroda Home Loan

6.85% to 7.75%

Bank of India Home Loan

6.85% to 7.755

Canara Bank Home Loan

6.90% to 8.90%

Indian Bank Home Loan

7.55% to 8.40%

Punjab National Bank Home Loan

Starting at 7.00%

HSBC Bank Home Loan Schemes

1. HSBC Bank Smart Home Loan

HSBC Bank Smart home loan is a home loan that enables you to save on interest payments and thereby reduce tenure of the loan.

Loan amount 

Interest rate 

Loan tenure 

Processing fee

Age Limit 

As per the applicants credit profile

For salaried 8.70% with commitment and 9.10% without commitment

For self employed 8.80% with commitment and 9.20% without commitment

Salaried = 25 years 

Self employed = 20 years 

1% of the loan amount sanctioned or Rs.10000 whichever is higher plus applicable taxes

For salaried = 21 years to 58 years 

For public ltd / government employees = 21 years to 60 years 

For self employed ; 21 years to 65 years

2. HSBC Classic Home Loan

HSBC Classic Home Loan scheme works like a traditional home loan, and is available at competitive cost-saving rates.

Loan amount 

Interest rate 

Loan tenure 

Processing fee

Age Limit 

As per the applicants credit profile

For salaried 8..55%and for self employed 8.65%

Salaried = 25 years 

Self employed = 20 years 

1% of the loan amount sanctioned or Rs.10000 whichever is higher plus applicable taxes

For salaried = 21 years to 58 years 

For public ltd / government employees = 21 years to 60 years 

For self employed ; 21 years to 65 years

HSBC Bank Home Loan EMI Calculator

Using HSBC Home Loan EMI calculator will allow you to know the amount of monthly cost of your HSBC bank home loan EMI. You can use this tool to help yourself plant your monthly budget and see if the repayment tenure needs to be reconsidered. You can visit the official website of the bank to find the calculator.

You can also use the BankSathi home loan EMI calculator that is the fastest deal to get the EMI calculation of your home loan. You need to enter the loan amount along with the total months or years of the tenure and rate of interest. The toll will give you the monthly as well as the annual calculation of your loan.

How to Apply for HSBC Home Loan?

Here are two different methods to apply for HSBC home loan:

  • Apply for HSBC home loan offline

You can apply for HSBC bank home loan offline by hopping to the nearest branch of the bank. You need to carry all the important documents that are required to be presented with the application. The bank official will provide you the required assistance with your HSBC home loan application.

  • Apply for HSBC home loan online

Here is the step-by-step way to apply for HSBC bank home loan:

  • Head to the official website of the bank.
  • Now, tap and expand the “Borrowing” list.
  • Then you have to click on the “Home Loan” option.
  • Click the “Apply Now” button.
  • Fill in the details that are required in the fields.
  • Submit your home loan application form.

HSBC Bank Home Loan Customer Care Number

You can dial the following HSBC bank customer care numbers in case you have any further query or grievance related to the HSBC loan:

1800 266 3456, 1800 120 4722 

FAQs On HSBC Bank Home Loan

Q.1 What are the interest charges for HSBC home loan? 

The HSBC home loan interest rates start at 7.20% per annum for salaried borrowers and 7.30% for self employed borrowers and professionals.

Q.2 What is the processing fee for HSBC loan against property? 

The HSBC bank charges a processing fee of 1% of the total loan amount (or 10,000) plus applicable taxes for home loan.

Q.3 How do I apply for HSBC home loan balance transfer? 

In order to apply for HSBC home loan balance transfer. You can visit the official website of HSBC bank. Alternatively, you can go to the nearest branch of the bank.

Q.4 Are there any prepayment charges for HSBC bank home loan?

There is no prepayment penalty charged by the bank in case of HSBC home loan at floating rate. When it comes to the home loan at fixed rate, the bank charges 3% of the principal outstanding paid if the loan amount is more than 25% of the total loan amount. For the amount less than 25% of the total loan, the bank charges no penalty.

Q.5 Can I apply for an HSBC loan against property?

Yes. The bank offers housing finance to the Non Resident Indians (NRIs). However, the bank requires NRIs to have a co-applicant who is a resident Indian for the home loan application.

Last Updated on : 28/Apr/2021

Know More About

Hsbc Bank Home Loan

You're eligible for a Hsbc Bank Home Loan if you:


Are legally adult enough to handle it


Have still got it


Get a regular pay check


Make more than a basic buck

Your eligibility depends on:


Earn more than minimum income required


Maximum allowed Home Loans is Rs. 10K to Rs. 45 lakhs


EMIs of other loans loweryour eligibility

Boost your eligibility by:


Pay off your credit card bills


Choose longer tenure loan up to 5 years

Nothing gets done without that paperwork (which we'll happily carry over to the bank for you, no sweat). Here's what you'll need:

  • 1. Photo ID and age proof
  • 2. Signed application form with photograph
  • 3. Residence proof
  • 4. Last 6 months bank statement
  • 5. Documentation for salaried applicants:
    • Last 3 months salary - slips
    • Form 16 or Income Tax Returns
  • 6. Documentation for self-employed applicants:
    • Last 3 years Income Tax Returns with computation of Income
    • Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account

Hsbc Bank Home Loan Interest Rates

Updated on 25 Nov 2017

Hsbc Bank Home Loan Details
Interest Rate (Monthly reducing balance) 7.2% - 8.95%
Processing Fees 1% + GST
Loan Tenure 1 year to 25 years
Pre-closure Charges Varies with bank
Guarantor Requirement Varies with bank

Home Loans EMI Calculator

Loan Amount

|
1L
|
50L
|
100L
|
150L
|
2Cr

Interest Rate

%
|
5
|
10
|
12.5
|
17.5

Loan Tenure

|
1
|
10
|
20
|
25
|
0
|
120
|
240
|
300


Your Monthly Loan EMI


₹24,959