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

Apply Now

HSBC BANK PERSONAL LOAN

ABOUT HSBC BANK PERSONAL LOAN :

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 banking and financial services organizations in the world. HSBC Bank is a public limited company. The customers can get this loan for wedding expenses, home renovation expenses, equipment required for a business etc. It is a good option for the customers to fulfill their personal needs.

BENEFITS OF HSBC BANK PERSONAL LOAN :

1. Loan amount :

It offers a personal loan of upto Rs 30 lakh and the minimum loan amount starts from Rs.15000.

2. Flexible tenure :

HSBC Bank provides personal loan to he customers with very flexible tenure period from 1 year to 6 years.

3. Quick processing :

The processing fees of HSBC Bank personal loan is 1% of the loan amount. HSBC Bank processes the loan approval in a very quick and easy way.

4. Easy loan procedures :

Through HSBC Bank you can easily apply for a personal loan. It provides easy loan procedures to the customers. The online procedure of HSBC bank is very simple and quick and it allows customers to avail the personal loan without any worries.

5. Minimal documentation :

HSBC Bank required less documentation for the processing of personal loans.The documents submitted by the customers are KYC, address proof and income proof with the loan application form.

 

FEES AND CHARGES OF HSBC BANK PERSONAL LOAN : 

TYPE OF FEE 

CHARGES

Processing fees 

1% of the loan amount

Foreclosure and prepayment charges 

Upto 3.75% of principal outstanding amount 


ELIGIBILITY CRITERIA FOR HSBC BANK PERSONAL LOAN :

ELIGIBLE 

Salaried and self employed

AGE

For salaried employees : 21 years to 60 years

For self employed : 21 years to 65 years 

INCOME

Monthly income is Rs.25000

 

DOCUMENTS REQUIRED FOR HSBC BANK PERSONAL LOAN :

TYPE

DOCUMENTS

ID proof

Aadhaar card, PAN Card, Driving license, Ration card, Passport

Address proof

Voter’s ID, rental agreement, Electricity/Water/Telephone bill, registry, Aadhaar card

Income proof

For salaried employees : Latest salary slip or Form 16 and Last 3 month salary account statement

For self employed : ITR of last 2 years and bank statement of last 6 months

 

COMPARE OTHER BANK PERSONAL LOAN INTEREST RATE :

BANKS

INTEREST RATES

AXIS Bank Personal Loan

12% to 24%

SBI Personal Loan

11.30% to 16.40%

SBI Xpress Bandhan

12.15% to 15.15%

SBI Xpress Credit Personal Loan

11.50% to 12%

HDFC Bank Personal loan

10.75% to 21.50%

Kotak Mahindra Bank Personal Loan

10.50% to 16.99%

Yes Bank Personal Loan

20.00% to 22.00%

Citi Bank Personal Loan

10.50% to 17.99%

ICICI Bank Personal Loan

10.99% to 16.25%

Standard Chartered Bank Personal Loan

11.00% to 19.20%

IDBI Bank Personal Loan

12.00% to 14.00%

RBL Bank Personal Loan

14.00% to 23.00%

HSBC Bank Personal Loan

10.75% to 17.84%

IndusInd Bank Personal Loan

11.00% to 16.75%

Bank of Baroda Personal Loan

7.65% to 12.65%

Bank of India Personal Loan

12.15% to 14.15%

Canara Bank Personal Loan

12.05% onwards

 

WHY CHOOSE HSBC BANK PERSONAL LOAN ?

1. HSBC personal loan starts with a maximum repayment tenure of 5 years. So, customers have the choice of flexible tenure starting from 6,12,18,24,30,36,42,48,54 or 60 months. 

2. Flexible EMI options through bank account Standing Instructions. 

3. There is no requirement of security and guarantor.

4. Fast procedures 

5. Loan transfer from any other bank to HSBC. 

6. Less and quick documentaion 

 

HOW TO CALCULATE EMI OF HSBC BANK PERSONAL LOAN :

The calculation in the EMI calculator is done through the below-given formula:

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

where,

EMI = Equated Monthly Installment

P = Principal Loan Amount

R = Monthly Interest Rate

N = Number of Monthly Installments

 

FREQUENTLY ASKED QUESTIONS : 

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

The maximum tenure of personal loan in HSBC Bank is 5 years.

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

The minimum loan amount is Rs.75000 and maximum is Rs.30 lakh of HSBC Bank personal loan.

3. What was the age required for HSBC Bank personal loan?

The age required for salaried employees is 21 years to 60 years and for self employed the maximum age is required 65 years. 

4. What were the processing fees charged by HSBC Bank personal loan?

HSBC Bank personal loan charges processing fees is 1%  of the loan amount. 

5. What were the foreclosure and prepayment charges charged by HSBC Bank personal loan ?

The foreclosure and prepayment charges charged by HSBC Bank personal loan is up to 3.75% of principal outstanding amount.

Last Updated on : 15/Jul/2020

Know More About

Hsbc Bank Personal Loan

You're eligible for a Hsbc Bank Personal 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 Personal 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 Personal Loan Interest Rates

Updated on 25 Nov 2017

Hsbc Bank Personal Loan Details
Interest Rate (Monthly reducing balance) 10.5% - 17.84%
Processing Fees 1% of loan amount
Loan Tenure 1 year to 5 years
Pre-closure Charges Varies with bank
Guarantor Requirement Varies with bank

Personal 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