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HSBC India Home Loan

The Hongkong and Shanghai Banking Corporation Limited, India (HSBC India) offers home loans for amounts of up to Rs 40 crore at interest rates starting from 7.70% p.a. and repayment tenures of up to 25 years. The bank also offers the facility of overdraft, labeled as Smart Home Loan, to its existing home loan borrowers. HSBC India also offers balance transfer facility to the existing home loan borrowers of other banks and NBFCs at lower interest rates.

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Starting 7.40% p.a.

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HDFC Bank
Min Loan Amt. ₹15L
Rate of Interest7.2% - 13.2%
Tenure uptoUpto 30 Years
Processing Fee₹ 10,000
Axis Bank
Min Loan Amt. ₹30L
Rate of Interest8.35% - 11.90%
Tenure uptoUpto 30 Years
Processing Fee₹ 14,000
IDFC First Bank
Max Loan Amt.Upto ₹10Cr
Rate of Interest8.85% - 18%
Tenure uptoUpto 30 Years
Processing FeeUpto 3%

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How Can I Apply for a Home Loan Online?

Get up to ₹5 Crore in 5 Simple Steps

Step 1: Enter your mobile number in the application form.

Step 2: Verify using the OTP sent to your mobile number.

Step 3: Enter details related to your loan requirements.

Step 4: Provide your personal and employment details.

Step 5: Compare offers and apply for the best-suited loan.

HSBC India Home Loan Highlights

Interest rates 7.70% p.a. onwards
Loan amount Up to Rs 40 crore
Repayment tenure Up to 25 years
Processing fee 1% of the sanctioned loan amount or Rs 10,000, whichever is higher + applicable taxes

HSBC India Home Loan Interest Rates

HSBC India Home Loan interest rate starts at 7.70% p.a. The bank may consider various factors like property value, monthly income, occupation profile, credit score, etc., of the home loan applicant while setting the home loan interest rates for their loan applicants.

HSBC Home Loan For salaried: 7.85% p.a.

For self-employed: 7.95% p.a.
HSBC Balance Transfer 7.70% p.a. onwards
HSBC NRI Home Loan Floating: 7.70% p.a. onwards

Fixed: 12.75% p.a. onwards
Smart Home Loan (Overdraft) For salaried: 

8.10% p.a. (with commitment fee)

8.25% p.a. (without commitment fee)
For self-employed:

8.20% p.a. (with commitment fee)

8.35% p.a. (without commitment fee)

Compare Home Loan Interest Rates for Top Banks & HFCs

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Name of Lender Loans of Up to Rs. 30 Lakh
Bank of India 7.35% p.a. onwards Check Eligibility
State Bank of India 7.50% p.a. onwards Check Eligibility
Punjab National Bank 7.50% p.a. onwards Check Eligibility
Canara Bank 7.40% p.a. onwards Check Eligibility
HDFC Bank 7.90% p.a. onwards Check Eligibility
Bajaj Housing Finance 7.45% p.a. onwards Check Eligibility
ICICI Bank 8.75% p.a. onwards Check Eligibility
Axis Bank 8.30% p.a. onwards Check Eligibility
Federal Bank 8.75% p.a. onwards Check Eligibility
Kotak Mahindra Bank 7.99% p.a. onwards Check Eligibility
IDFC FIRST Bank 8.85% p.a. onwards Check Eligibility
IDBI Bank 7.55% p.a. onwards Check Eligibility
RBL Bank 8.20% p.a. onwards Check Eligibility
Tata Capital Housing Finance 7.75% p.a. onwards Check Eligibility
PNB Housing Finance 8.25% p.a. onwards Check Eligibility
Sammaan Capital
(Formerly known as Indiabulls Housing Finance)		 8.75% p.a. onwards Check Eligibility
India Shelter Home Loan 10.50% p.a. onwards Check Eligibility
L&T Finance Limited 8.70% p.a. onwards Check Eligibility
Godrej Housing Finance 7.75% p.a. onwards Check Eligibility
Home First Finance 8.00% p.a. onwards Check Eligibility
Easy Home Finance 11% p.a. onwards Check Eligibility
Piramal Capital Housing Finance 9.49% p.a. onwards Check Eligibility
Shubham Housing Finance 10.45% p.a. onwards Check Eligibility
Punjab & Sind Bank 7.55% p.a. onwards Check Eligibility
Jio Housing Finance 8.20% p.a. onwards Check Eligibility
HDFC Sales Pvt Ltd 7.90% p.a. onwards Check Eligibility

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HSBC India Home Loan Processing Fee and Other Charges

Processing fee

HSBC Bank charges a nominal processing fee of up to 1% of the sanctioned loan amount or Rs 10,000, whichever is higher, plus applicable taxes.

Prepayment charges

Floating rate home loan NIL
Fixed rate home loan Up to 25% of the loan amount sanctioned in every financial year: NIL For amount more than 25% of the loan amount sanctioned in every financial year: 3% of amount prepaid

Other fees and charges

Copy of property documents Rs 500
Delayed installments/SI dishonor Rs 250 per instance
Penal interest 2% over and above the existing rate charged
Conversion fee 0.50% of limit outstanding or current account limit whichever is higher + taxes

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Types of HSBC India Home Loan

HSBC India Home Loan

  • Purpose: For purchasing ready-to-move residential properties and select under construction properties approved by HSBC. 
  • Loan Amount: Rs 3 lakh to Rs 40 crore
  • Repayment tenure: 20 years (for self-employed) & 25 years (salaried)

HSBC India Smart Home Loan

  • Purpose: It is an overdraft facility for HSBC existing home loan borrowers. The overdraft limit is equal to the amount of loan disbursed. HSBC Smart Home Loan can be availed by both Indian residents and NRIs for ready-to-move residential properties and select under construction properties approved by HSBC. NRI applicants must have a local co-applicant or a local contact person. 
  • Loan Amount: Rs 5 lakh to Rs 40 crore
  • Repayment tenure: 20 years (for self employed) & 25 years (salaried)

HSBC India NRI Home Loans

  • Purpose: For purchasing ready-to-move residential properties and under construction properties in India
  • Loan Amount: Rs 3 lakh to Rs 40 crore
  • Repayment tenure: Up to 25 years 

HSBC India Home Loan Balance Transfer

HSBC offers the facility of home loan balance transfer where in other customers can shift their existing home loan to HSBC. The bank offers a credit line of 0.3% of the loan amount and top-up of 150% at the same rate, without charging any processing fee. 

HSBC India Home Loan Eligibility Criteria

  • Minimum net income for salaried: Rs 5 lakh
  • Minimum net income for self-employed: Rs 7.5 lakh
  • Minimum age at the time of loan application: 21 years
  • Maximum age at the time of loan maturity: 58 (salaried) or 60 (public ltd/government employees) or 65 (self-employed)
  • NRI applicants should have a local co-applicant or a local contact person to be eligible for HSBC NRI Home Loans

In addition to the above-mentioned eligibility criteria, HSBC Bank may also consider the credit score, employer’s profile, etc of its home loan applicants, as used by many lenders for evaluating the home loan eligibility of their applicants.

HSBC India Home Loan Documents Required

KYC Documents

  • Completed application form with passport size photograph
  • Identity Proof (any one): Passport/ Voter ID/ Driving License/ PAN Card/ Aadhaar Card
  • Residence Proof (any one): Passport/ Voter ID/ Driving License/ Society outgoing bill/ Electricity bill/ Water bill/ Telephone bill/ Gas bill (pipeline connection only)/ Property tax bill/ Domicile certificate with address issued by Municipal Corporation
  • Age Proof (any one): Passport/ Driving License/ PAN Card

Income Documents for Indian Resident

For salaried individuals:

  • Latest 3 months’ salary slips showing statutory deductions
  • Bank statements for last 3 months showing last 3 salary credits

For self-employed individuals:

  • Acknowledged IT returns for last 2 years (including e-acknowledgement)
  • P&L account, balance sheet certified/ audited by a CA and computation of income for last 2 years with all annexures and auditor’s report 
  • Primary bank account statements for last 6 months 
  • For Partners of the partnership firm, additionally Partnership Deed is required 
  • For Directors of the Private Limited companies additionally required: Shareholding Pattern or Memorandum and Articles of Association duly attested by a CA and List of Directors

For self-employed professionals/Consultants:

  • Acknowledged IT returns for last 2 years (including e-acknowledgement)
  • P&L account, balance sheet certified/ audited by a CA and computation of income for last 2 years with all annexures and auditor’s report 
  • Primary bank account statements for last 6 months

Income Documents for Non-resident Indian (NRI)

For salaried:

  • Copy of valid Indian passport showing Visa stamps or copy of foreign passport/equivalent documents 
  • Copy of valid Visa/work permit/equivalent documents supporting the NRI status of the applicant account holder 
  • Latest contract copy evidencing salary/salary certificate/wage slips 
  • Overseas bank account statements for last 3 months showing salary credits 
  • 3 months NRE/NRO account statements 
  • Local bureau report of the country/region where customer is based

For self-employed:

  • Trade license or equivalent document 
  • 6 months overseas bank account statements and NRE/NRO account statements 
  • Computation of income, P&L account and balance sheet for last 3 years certified by a CA/CPA or any other relevant authority as the case may be (or equivalent company accounts) 
  • Passport copy with valid Visa stamp 
  • Brief profile of the applicant and business in the specified format 
  • Local bureau report of the country/region where customer is based

For Merchant Navy:

  • Latest contract copy. If on ‘home port’ for more than 6 months this year, future contract copy is required 
  • Latest Continuous Discharge Certificate (CDC) for 3 years’ employment proof 
  • Copy of passport for proof of identity 
  • Primary bank account statements for last 3 months 
  • Local bureau report of the country/region where customer is based (applicable if country/region of residence is other than India)

Note: All home loan documents should be self-attested by the applicant.

How Can I Apply for a Home Loan Online?

Get up to ₹5 Crore in 5 Simple Steps

Step 1: Enter your mobile number in the application form.

Step 2: Verify using the OTP sent to your mobile number.

Step 3: Enter details related to your loan requirements.

Step 4: Provide your personal and employment details.

Step 5: Compare offers and apply for the best-suited loan.

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FAQs

The HSBC Home Loan application is processed within 5 working days after submitting the required documents. The lender evaluates the property and the loan is processed within 4 days of document submission. The loan then gets disbursed within 2 days of submitting duly stamped, complete loan agreement and other important documents.

Yes, Non-Resident Indians can avail home loans from HSBC Bank. The bank offers NRI Home Loans to NRI individuals having an eligible local co-applicant or a local contact person.

Yes, you can apply for HSBC Home Loan if your property is under-construction. In case of under-construction property, the loan is disbursed in instalments and interest is levied only on the disbursed amount. This is known as Pre-EMI. The EMI of the loan commences only after the disbursal of the entire loan amount or on completion of construction or 3 years after the disbursal of first loan instalment.

The savings/current account opened with HSBC for repaying the home loan does not have minimum balance requirement. Moreover, the applicants availing home loan of Rs 1.15 crore or more from HSBC become eligible for availing the HSBC Premier benefits, which includes a dedicated Relationship Manager for your various banking needs, exclusive wealth management services, etc.

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