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HSBC Bank Smart Home Loan

On your journey to buying your dream house, carrying sufficient funds is a crucial aspect and that is why housing loans exist. HSBC bank Smart home loan is one of the best options out there that is provided to back the financial requirements ranging from Rs 3 lacs to Rs 10 crore. The bank offers housing loans at pocket friendly interest charges that begin at 7.35% per annum. HSBC home loans are available for easygoing repayment tenure options that last up to 25 years and the loan is availed to the salaried, self employed individuals and professionals. Let us move ahead to the section and know more about the HSBC housing loan.

HSBC Smart Home Loan Interest Rates

Loan Amount

From Rs 3 lacs to Rs 10 crore

Interest Charges

Starts at 7.35% per annum

Processing Fees

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

Tenure

Up to 25 years

Prepayment Charges

NIL on floating rate 

3% of the outstanding principal on fixed rate

HSBC Bank Smart Housing Loan Features & Benefits

From affordable rate of Interest to sound-good repayment period options, we have listed here the major features offered by HSBC home loan:

  • Purpose of Loan

HSBC bank housing loan comes with a financial solution for you to give your dream home a reality. You can count on this loan to make the purchase of a new house or flat, purchase of a house that is under construction and for home improvement, repairs or extension.

  • Loan Amount

The HSBC loan amount offered starts at Rs 3 lacs and goes up to Rs 10 crore. You must note your eligibility profile, repayment track and not to forget, requirements are some of the determinants of the home loan amount you are eligible to avail.

  • Rate of Interest

HSBC bank Smart home loan interest rates start at 7.35% per annum for borrowers with the salaried profile. The rates start at 7.45% for self employed individuals and professionals.

You must be aware that the housing loan interest rates are determined by a bunch of keypoints such as the loan repayment tenure, your profile, your relationship with the bank etc.

  • Loan Repayment Tenure 

HSBC bank Smart housing loan repayment tenure options go up to 25 years for salaried individuals and 20 years for other types of loan borrowers.

  • Prepayment

You can opt to close your HSBC Smart home loan early. The lender does not charge any foreclosure charges in case of loan at floating rate of interest. 

The lender charges 3% of the principal outstanding that is paid in case the loan amount is above 25% of the total home loan amount. In case the amount is less than 25% of the total loan, the bank does not charge any fee.

Eligibility for HSBC Bank Home Loan

We have mentioned below all the HSBC bank home loan eligibility requirements that you have to  meet in order to be able to get the home loan. This eligibility criteria involves factors such as your age, employment status etc. 

Here is the HSBC Smart home loan eligibility criteria that you must ensure:

  • This loan is provided to the Resident Indians as well as the Non Resident Indians (NRIs). 
  • The loan can be availed by the salaried individuals, self employed individuals and professionals.
  • Loan applicants have to at least be 21 years at the time of commencement of home loan.
  • Salaried borrowers should not be more than 60 years during the tenure termination.
  • Self employed borrowers and professionals should not be more than 65 years during the tenure termination.
  • Salaried borrowers should have an annual net income of at least Rs 5 lacs.
  • Self employed applicants and professionals should have an annual net income of at least Rs 7.5 lacs.

Documents Required for HSBC Bank Smart Home Loan

Here, we have mentioned the basic documents for HSBC bank Smart home loan that you will need to present along with your housing 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 Regular Home Loan

6.95% 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%

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 Smart Home Loan EMI Calculator 

It is best that you know the payable amount of your HSBC Smart home loan EMI. You can make use of this tool to help establish the monthly budget as well as consider the loan repayment term options. In order to use the home loan EMI calculator, you can go to the official website of the bank.

For a faster way to calculate your home loan EMI, it is recommended that you use BankSathi home loan calculator. All you have to do is input the required home loan amount alongside the total repayment term (months or years) and rate of interest. The tool will fetch you the monthly as well as the yearly calculation of your home loan.

How to Apply for HSBC Bank Smart Home Loan

You can apply for HSBC home loan online or offline. Below mentioned are the ways to do that:

  • Apply for HSBC Smart home loan offline

In order to apply for HSBC bank home loan offline, you can go to the nearest HSBC bank branch. When visiting the bank, make sure that you take all the HSBC home loan application documents that you are required to submit with the application. The bank representative will help you with required assistance regarding your HSBC housing loan application.

  • Apply for HSBC Smart home loan online

Here are the easy steps to apply for HSBC bank Smart home loan:

  • Navigate to the official website of HSBC bank.
  • Click and open the “Borrowing” menu.
  • Now, you have to hit the “Home Loan” option.
  • Hit the “Apply Now” button.
  • After that, you have to fill in the required details in the application form.
  • Submit your housing loan application form.

HSBC Bank Customer Care Number 

You have to dial the following HSBC home loan customer care numbers in case of any further assistance, query or grievance regarding the HSBC loan:

1800 266 3456, 1800 120 4722 

FAQs On HSBC Smart Home Loan

Q.1 What are the interest rates for HSBC bank Smart home loan? 

HSBC bank Smart home loan interest rates start at 7.35% per annum for borrowers with the salaried profile. The rates start at 7.45% for self employed individuals and professionals.

Q.2 What is the processing fee for HSBC loan Smart home loan? 

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

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

If you want to apply for a HSBC home loan balance transfer, then you can visit the official website of the bank. Apart from that, you can navigate to the nearest branch of HSBC bank.

Q.4 I am an NRI. Can I apply for an HSBC Smart home loan? 

Yes. The lender does offer  housing loans to Non Resident Indians (NRIs). However, they require the NRIs to apply for this loan with a co-applicant who is a resident Indian.

Q.5 What is the repayment tenure for HSBC Smart home loan? 

The HSBC Smart home loan repayment tenure ranges up to 25 years for salaried borrowers and up to 20 years for borrowers who are self employed or professionals.

Q.6 What are the HSBC Smart home loan part prepayment charges? 

The bank charges part prepayment of 3% of the principal outstanding paid, if the amount is above 25% of the total amount. If the amount paid is less than 25%, then the bank charges no part prepayment fee.

Q.7 What is the processing fee for HSBC Smart home loan?

The HSBC Smart home loan processing charged by the bank is 1% of the loan amount plus applicable taxes.

Last Updated on : 07/May/2021

Know More About

Hsbc Bank Smart Home Loan

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

Hsbc Bank Smart Home Loan Interest Rates

Updated on 25 Nov 2017

Hsbc Bank Smart Home Loan Details
Interest Rate (Monthly reducing balance) 7.35% - 11.5%
Processing Fees 1%
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