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HSBC BANK SMART LOAN AGAINST PROPERTY

HSBC Bank Smart Loan Against Property 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.

A Loan against Property is a type of secured loan availed against a residential or commercial property kept as collateral with the lender. In this loan, you get as much amount you want and can be paid back with easy monthly installments. From this loan, you can buy any property or can make your own home or residence.

The important thing is to dream. For when you have a dream, the next challenge is in achieving it. Loan Against Property from HSBC makes sure nothing comes in the way of fulfilling that dream. So go on, while you make your plans, allow us to make sure they reach their heights. HSBC Bank offers smart loans against properties that enables you to save on interest payments and thereby reduce the tenure of the loan.

Benefits of HSBC Bank Smart Loan Against Property 

1. It is available for salaried and self employed

2. Loan amount ranges from Rs.5 lakh to Rs.10 crore 

3. Tenure period upto 15 years

4. Simple documentation

5. Interest rate starts at 8.75% per annum with commitment fee and 8.90% per annum without commitment fee

Fee and Charges of HSBC Bank Smart Loan Against Property

To apply for a smart loan against property 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, prepayment / foreclosure charges etc

TYPE 

CHARGES

Processing Fee

1% of the loan amount sanctioned or Rs. 10,000, whichever is higher

Prepayment Charges

(lock-in period of 6 months)

For Floating Rate Loan Against Property: Nil

For Fixed Rate Loan Against Property

? For up to 25% of the loan amount sanctioned in every financial year: Nil

? For amount more than 25% of the outstanding loan amount or more than one prepayment: 4% of amount prepaid

Annual Fee (only applicable for Smart LAP)

1% of limit outstanding payable on each loan anniversary 4 till the loan is completely repaid.

Request for copy of property documents held with the bank

Rs. 500 (Not applicable for HSBC Premier Customers)

For Delayed installments on account of cheque, ECS or SI (standing instruction) dishonors

Rs. 250 per instance

Penal interest 

2% over and above the existing interest rate charged on the loan account for the amount which is overdue

For conversion from MCLR/Base Rate/Retail Lending rate to RLLR

Up to Rs. 5,000

Commitment Fees

?Up to 1% fees on amount above 25% of the SHCF/SLCF sanctioned amount

?If the Excess Funds in the SHCF/SLCF account are more than 25% of the SHCF/SLCF sanctioned amount (‘Threshold limit’), then the Bank may at its sole discretion charge a Non-utilization/Commitment fee of 1% p.a. on the balance amount maintained over and above the Threshold

Eligibility Criteria for HSBC Bank Smart Loan Against Property

Before applying for a smart loan against property from HSBC Bank, you should fulfil all basic eligibility criteria as prescribed by the bank. For the HSBC Bank Smart loan against property application the salaried and self employed 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 

21 years to 65 years 

CREDIT SCORE 

750 and above 

Documents Required for HSBC Bank Smart Loan Against Property

Any applicant who is going to avail for smart loan against property from HSBC Bank, must have to submit the following documents. These documents are the requirements for the lenders who are providing you the amount of loan.

1. Filled Application Form

2. PAN Card

3. Proof of Identity : Passport, Aadhaar Card, Driving License, Voter ID, Government Employee ID

4. Proof of Address : Aadhaar Card, Driving License, Voter ID, Government Employee ID, Electricity bill, Gas bill, Telephone bill, Property tax receipt

5. Date of Birth Proof : Passport, Driving License, PAN Card, Birth Certificate, Aadhaar Card with DOB, SSC Marksheet

6. Signature Proof : Passport, PAN Card, Bankers verification or Notarized affidavit with ID & Address Proof)

  1. Proof of Income for Salaried :

    1. 3 months’ pay slip or 6 months’ pay slip/2 yrs. bonus proof)

    2. 6 months bank statement showing salary credits

    3. 2 yrs. Form 16 or Employment Continuity Proof

  2. Proof of Income for Salaried NRIs :

    1. 3 month pay slip

    2. Appointment letter/contract letter

    3. Continuous Discharge Certificate for Shipping cases

    4. 6 month Domestic NRE/NRO a/c statement

    5. 6 month international salary a/c statement

    6. Overseas credit report

    7. Valid visa copy/OCI card

    8. Passport copy

    9. POA details

  3. Proof of Income for Self Employed :

    1. 2 yrs ITR, Computation of Income, P&L, Balance sheet with CA seal and sign

    2. For Asha HL – 1 yr ITR, Computation of Income, P&L, Balance sheet with CA seal and sign

    3. Tax Audit Report (If Gross Turnover Exceeds Rs 1 Cr or Gross Receipts Exceeds 25 Lac)

    4. 6 months bank statements of personal and business accounts

    5. If ITR is filed without digital sign – CPC and tax paid challan

    6. Business continuity proof (3 yrs for HL / 5 yrs for LAP)

  4. Other Important Documents & Checks :

    1. Aadhaar card is mandatory for Credit Linked Subsidy Scheme (PMAY) applicants

    2. PAN card is mandatory for all financial applicants

    3. Processing Fee and CERSEI cheques

    4. Self-attestation of borrowers on all documents submitted

Compare other bank loan against property interest rate 

BANKS

INTEREST RATE 

AXIS Bank Loan Against Property

Starts at 11.25% 

AXIS Bank Lease Rental Discounting 

Starts at 11% 

AXIS Bank Overdraft Facility Against Property

Starts at 11%

AXIS Bank Reverse Mortgage Loan

Starts at 11%

SBI Bank Loan Against Property

Starts at 10.85%

YES Bank Loan Against Property 

Starts at 10.50%

IDBI Bank Loan Against Property

Starts at 11.25%

RBL Bank Loan Against Property 

10.65% to 16.25%

HSBC Bank Loan Against Property 

Starts at 8.60%

HSBC Bank Smart Loan Against Property 

Starts at 8.75%

Indusind Bank Loan Against Property 

9.50% to 13.50%

Other Products of HSBC Bank 

1. HSBC Bank Home Loan 

2. HSBC Bank Personal Loan 

3. HSBC Bank Smart Loan Against Properties

4. HSBC Bank Smart Home Loan 

How to Apply for HSBC Bank Smart Loan Against Property 

There are two ways to apply for smart loans against property from HSBC Bank :

1. Offline Method : By visiting nearest bank branch

2. Online Method :

  • Firstly visit lenders website from which you want to get a loan

  • Fill the application form and read all the term and conditions

  • Attach all required documents with an application form

  • After submitting form lenders will let you know that you eligible or not for the loan 

HSBC Bank Smart Loan Against Property Customer Care 

Contact number : 18002663456 / 18001204722

Email id : info@hsbc.co.in

How to calculate EMI of HSBC Bank Smart Loan Against Property

The following mathematical formula is used to calculate EMI of HSBC Bank Smart Loan Against Property is :

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

In this formula,

EMI - Equated Monthly Instalment

P - Principal amount (amount borrowed as loan)

R – Applicable rate of interest (interest rate should be on a monthly basis)

N - Loan tenure or the number of EMIs to be paid (tenure should be in 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 Smart Loan Against Property Frequently Asked Questions

1. What is the minimum and maximum loan amount provided by HSBC Bank Smart for loan against property?

The minimum loan amount is Rs.5 lakh and maximum loan amount is Rs.10 crore provided by HSBC Bank Smart for loan against property.

2. How much interest rate is provided by HSBC Bank Smart loan against property?

The interest rate starts at 8.75% with commitment fee and 8.90% without commitment fee onwards provided by HSBC Bank Smart loan against property.

3. Is age an important factor to take a Smart loan against property from HSBC Bank?

Yes, age is an important factor to take a Smart loan against property from HSBC Bank. The minimum age of the customer is 21 years and maximum age of the customer is 65 years.

4. How to contact HSBC Bank?

You can contact through customer care number and customer care email id for HSBC Bank.

5. What is the processing fee charged by HSBC Bank Smart loan against property?

The processing fee charged in HSBC Bank Smart loan against property is 1% of the loan amount sanctioned or Rs. 10,000, whichever is higher

6. What are the penal interest charges of HSBC Bank Smart loan against property?

The penal interest is 2% over and above the existing interest rate charged on the loan account for the amount which is overdue charges of HSBC Bank for Smart loan against property..

7. How can I apply for a smart loan against property from HSBC Bank?

You can apply offline by visiting the nearest bank branch or through online for smart loan against property from HSBC Bank.

Last Updated on : 30/Aug/2020

Know More About

Hsbc Bank Smart Loan Against Property

You're eligible for a Hsbc Bank Smart Loan Against Property 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 Loans Against Properties 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 Loan Against Property Interest Rates

Updated on 25 Nov 2017

Hsbc Bank Smart Loan Against Property Details
Interest Rate (Monthly reducing balance) 8.75% - 0%
Processing Fees 1% of the loan amount sanctioned or Rs. 10000, whichever is higher
Loan Tenure 1 year to 15 years
Pre-closure Charges Varies with bank
Guarantor Requirement Varies with bank

Loans Against Properties 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