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.
HSBC Bank Smart home loan is a home loan that enables you to save on interest payments and thereby reduce tenure of the loan. Buying a home is one of the most important decisions in life for people across the world. Here, we talk about all the things above that are quite normal but there is a change in it, now everyone has to get a home loan with ease..You all think that “how it is possible? To overcome this issue HSBC Bank came with an exciting opportunity i.e. HSBC Bank Smart Home Loan.
1. Indian resident and NRIs can avail this loan
2. The Property types included Ready, under construction, purchase a plot of land, improvement of house or self construction
3. Loan tenure upto 20 for self employed and 25 years for salaried employees
4. Avail a home loan range of Rs.5 lakh to Rs.10 crore
5. You will get actress of this account through a cheque book, debit card and internet banking
To apply for a home loan you have to pay fees and charges applied by the HSBC Bank Smart Home Loan. 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, late payments of EMIs, cheque dishonour charges, prepayment / foreclosure charges etc.
|
TYPE |
CHARGES |
|
Processing fee |
1% of the loan amount sanctioned or Rs.10000 whichever is higher plus applicable taxes |
|
Prepayment charges |
NIL |
|
Copy of property documents |
Rs.500 |
|
Delayed interest on account of cheque |
Rs.250 per instance |
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 Smart 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 individuals |
|
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 |
|
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.
|
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 HDFC Bank Smart Home Loan :
1. Offline method : By visiting nearest bank branch
2. Online Method :
First of all first visit to official website of HDFC Bank Smart Home Loan
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 Smart 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 loan tenure is 25 years for salaried employees and 20 years for self employed for HSBC Bank Smart Home Loan
You can apply online or offline for a home loan from HSBC Bank Smart Home Loan.
The interest rate provided for a home loan from HSBC Bank Smart Home Loan Starts at 11.00% to 11.50% per annum.
The processing fee provided by HSBC Bank Smart Home Loan is 1% of the loan amount sanctioned or Rs.10000 whichever is higher plus applicable taxes.
The minimum loan amount is Rs.5 lakh and the maximum loan amount is Rs.10 crore provided by HSBC Bank Smart Home Loan.
The following formula is used to calculate EMI of HSBC Bank Smart Home Loan is 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
For salaried 21 years to 58 years, for public ltd / government employees 21 years to 60 years and for self employed 21 years to 65 years age the customer is required to take a home loan from HSBC Bank Smart Home Loan.
Last Updated on : 21/Aug/2020Know More About
You're eligible for a Hsbc Bank Smart 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 Smart Home Loan Details | |
|---|---|
| Interest Rate (Monthly reducing balance) | 11% - 11.5% |
| 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