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.
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
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 |
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 |
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 |
|
BANKS |
INTEREST RATE |
|
Starts at 10.05% onwards |
|
|
Starts at 7.75% onwards |
|
|
Starts at 7.75% onwards |
|
|
7.75% to 9.40% |
|
|
Start at 9.55% onwards |
|
|
8.15% to 8.30% |
|
|
8.90% to 9.15% |
|
|
6.95% onwards |
|
|
7.40% onwards |
|
|
6.95% onwards |
|
|
6.95% onwards |
|
|
6.95% onwards |
|
|
6.95% onwards |
|
|
7.65% onwards |
|
|
7.90% onwards |
|
|
9.50% to 10.50% |
|
|
6.75% onwards |
|
|
10.45% onwards |
|
|
8.05% onwards |
|
|
7.45% 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% |
|
|
8.55% to 8.655 |
|
|
11.005 to 11.505 |
|
|
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% |
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
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 :
The maximum tenure of home loan in HSBC Bank is upto 25 years for salaried people and upto 20 years for self employed.
The minimum loan amount is Rs.3 lakh and maximum is Rs.10 crore of 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.
HSBC Bank charges processing fees is 1% of the loan amount sanctioned or Rs.10000 whichever is higher plus applicable tax for home loan.
No prepayment charges are charged by HSBC Bank for fixed rate home loans.
Customers can apply for an HSBC Bank home loan by offline through visiting the bank branch and online.
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/2020Know 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) | 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