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.
|
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 |
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:
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.
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.
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.
HSBC bank home loan repayment tenure goes up to 25 years for salaried borrowers and 20 years for others.
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.
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 |
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:
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 |
|
BANKS |
INTEREST RATE |
|
7.75% to 9.40% |
|
|
6.95% onwards |
|
|
6.95% to 7.50% |
|
|
7.40% to 9.70% |
|
|
9.60% to 10.55% |
|
|
7.34% to 8.29% |
|
|
6.95% to 8.05% |
|
|
Starting at 8.71% |
|
|
7.80% to 8.80% |
|
|
9.75% to 10.05% |
|
|
8.00% to 15.00% |
|
|
6.85% to 7.75% |
|
|
6.85% to 7.755 |
|
|
6.90% to 8.90% |
|
|
7.55% to 8.40% |
|
|
Starting at 7.00% |
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 |
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.
Here are two different methods to apply for HSBC home loan:
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.
Here is the step-by-step way to apply for HSBC bank home loan:
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
The HSBC home loan interest rates start at 7.20% per annum for salaried borrowers and 7.30% for self employed borrowers and professionals.
The HSBC bank charges a processing fee of 1% of the total loan amount (or 10,000) plus applicable taxes for home loan.
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.
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.
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/2021Know More About
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
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