HSBC Bank Home Loan: Interest Rate, Eligibility, Processing & Customer Care

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HSBC BANK HOME LOAN

HSBC Bank Home Loan Details 

The full form of HSBC Bank is Hongkong and Shanghai Banking Corporation. HSBC Bank firstly opened in Hongkong on 31st March 1865 and in Shanghai one month later. It is one of the largest banks. HSBC is a multinational bank and finance services company has around 4000 offices in 70 countries.

Buying a home is one of the most important decisions in life for people across the world. Home Loan is offered to individuals who wish to purchase or construct a house. The property is mortgaged to the land or as a security till the repayment of the loan. HSBC Bank offers a wide range of financial services to its customers to fulfil their dreams. It is available for constructing or buying a home and providing a loan from Rs.3 lakh upto Rs.10 crore. 

You can apply for a home loan from HSBC Bank by either applying for it online or by visiting the nearest branch of the bank with proper documents. HSBC Bank Home Loan to help individuals to buy or build a house of their dreams.

Benefits of HSBC Bank Home Loan 

1. Easy home loan balance transfer

2. Maximum tenure range upto 25 years

3. Customer can transfer your home loan from other bank to HSBC Bank at ease

4. Less paperwork

5. Available for both Indian resident and NRIs individuals 

6. It offers a wide range of financial services to their customers

7. High loan amount upto Rs.10 crore

8. No prepayment charges are apply on floating rate home loan

9. Attractive rate of interest starts at 8.55% per annum

Fees and charges of HSBC Bank Home Loan 

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 Criteria for HSBC Bank Home Loan 

Before applying for a home loan from HSBC bank, you should fulfil all basic eligibility criteria as prescribed by the bank. For the HSBC Bank Home Loan application the salaried and self employed individuals are eligible to take a loan. You will get your loan amount very soon if you meet all the required eligibility criteria once the documentation is done.

ELIGIBLE 

Salaried and self employed 

AGE 

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 

MINIMUM NET INCOME

For salaried = Rs.500000

For self employed = Rs.750000

NATIONALITY

Indian Resident and NRIs

Documents Required for HSBC Bank Home Loan 

Any applicant who is going to avail a home loan must have to submit the following documents. These documents are the requirements for the lenders who are providing you the amount of loan.

1. Fully filled signed application form 

2. Passport size photograph

3. ID Proof : Aadhaar Card, PAN Card, Driving License, Passport, Voter identification, Employment id

4. Address Proof : Aadhar Card, Rental agreement, Voter id, Driving license, Passport, Employment id 

5. Income Proof : For salaried employees = 3 months salary slip, last 2 years ITR Return or form 16, Bank statement for last 2 months showing that the salary has been credited

6. For Self employed individuals / professionals = 2  years ITR return, Profit & loss account and Balance sheet computation with CA seal and sign, Bank statement for the last 6 months.

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

Compare other bank home loan interest rates 

BANKS 

INTEREST RATE

AXIS Bank Asha Home Loan

Starts at 10.05% onwards 

AXIS Bank Shubh Aarambh Home Loans

Starts at 7.75% onwards

AXIS Bank Fast Forward Home Loans

Starts at 7.75% onwards

AXIS Bank Home Loan

7.75% to 9.40%

AXIS Bank Empower Home Loan

Start at 9.55% onwards 

AXIS Bank Super Saver Home Loan

8.15% to 8.30%

AXIS Bank TopUp Loan

8.90% to 9.15%

SBI NRI Home Loan

6.95% onwards

SBI Flexipay Home Loan

7.40% onwards 

SBI Privilege Home Loan

6.95% onwards 

SBI Regular Home Loan

6.95% onwards 

SBI Shaurya Home Loan

6.95% onwards 

SBI Pre-approved loan

6.95% onwards 

SBI Realty Home Loan

7.65% onwards

SBI Home Top Up Loan

7.90% onwards

SBI Bridge Home Loan

9.50% to 10.50%

SBI Tribal plus Home Loan

6.75% onwards

SBI Earnest Money Deposit

10.45% onwards

SBI Reverse Mortgage Loan

8.05% onwards

SBI CRE Home Loans

7.45% onwards 

HDFC Bank Home Loan

6.95% to 7.50%

Kotak Mahindra Bank 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 Bank Home Loan

Starting at 8.71%

IDBI Bank Home Loan

7.80% to 8.80%

RBL Bank Home Loan

9.75% to 10.05%

HSBC Bank Home Loan

8.55% to 8.655

HSBC Bank Smart Home Loan

11.005 to 11.505

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%

How to apply for HSBC Bank Home Loan

There are two ways to apply for home loans from HSBC Bank :

1. Offline method : By visiting nearest bank branch

2. Online Method :

  • First of all first visit to official website of HSBC Bank

  • In retail section go to the “loans”

  • Now click in home loan

  • After that go to “Home loan”

  • Now click on apply now and fill application form 

HSBC Bank Home Loan Customer Care 

Contact number : 18002663456 / 18001204722

Email id : info@hsbc.co.in

How to calculate EMI of HSBC Bank Home Loan 

The following formula is used to calculate EMI of HSBC Bank Home Loan :

EMI = [PXRX(1+R)^N] / [(1+R)^N-1]

Where,

P stands for Loan Amount

R stands for Interest Rate

N stands for tenure in number of months 

Financials products offered by Bank :

BUSINESS LOAN

CAR LOAN

COMMERCIAL LOAN 

EDUCATION LOAN

GOLD LOAN

HOLIDAY LOAN 

HOME LOAN 

LOAN AGAINST PROPERTIES 

LOAN AGAINST SECURITIES

PERSONAL LOAN

PROFESSIONAL LOAN

TWO WHEELER LOAN

HSBC Bank Home Loan Frequently Asked Questions 

1. What is the maximum tenure of home loan in HSBC Bank?

The maximum tenure of home loan in HSBC Bank is upto 25 years for salaried people and upto 20 years for self employed.

 2. What is the loan amount of HSBC Bank home loan ?

The minimum loan amount is Rs.3 lakh and maximum is Rs.10 crore of HSBC Bank home loan.

 3. How much age of the customer is required for HSBC Bank home loan?

The age required for salaried employees is 21 years to 58 years and for public limited / government employees is 21 years to 60 years and for self employed the age should be required 21 years to 65 years. 

 4. Is there processing fees charged by HSBC Bank for home loan?

HSBC Bank charges processing fees is 1%  of the loan amount sanctioned or Rs.10000 whichever is higher plus applicable tax for home loan.

 5. How much prepayment charges are charged by HSBC Bank for fixed rate home loans ?

No prepayment charges are charged by HSBC Bank for fixed rate  home loans.

 6. How can customers apply for an HSBC Bank home loan?

Customers can apply for an HSBC Bank home loan by offline through visiting the bank branch and online.

 7. What are the schemes available for HSBC Bank Home Loan?

There are two schemes available for HSBC Bank Home Loan i.e. HSBC Bank Smart Home Loan and HSBC Bank Classic Home Loan.

Last Updated on : 21/Aug/2020

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) 8.55% - 8.95%
Processing Fees 1% of the loan amount sanctioned or Rs.10000 whichever is higher plus applicable taxes
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