HSBC charges 1% on amount above 25% of the SCF (Smart Credit Facility including Home Loan and Loan against property) sanctioned amount. HSBC collects processing fees in two parts Rs. 5,000 plus GST is paid upfront and the remaining amount plus applicable taxes is paid before the loan is disbursed. Please note that the Processing Fees for HSBC Home Loans is non-refundable.
HSBC Home Loans and Smart Home Loans which come with a floating rate of interest don’t have prepayment charges. However, HSBC Fixed Rate Home Loan charges Prepayment fees in the below fashion:
- If you pre-pay up to 25% of the loan amount sanctioned in every financial year, then you are not charged any pre-payment fees.
- However, if you pre-pay more than 25% of the loan amount sanctioned in every financial year, then you are charged 3% of the amount pre-paid as pre-payment fees.
Home loans offered by HSBC are available for applicant and properties in and around mentioned cities that include New Delhi, Jaipur, Chandigarh, Pune, Mumbai, Bengaluru, Chennai, Ahmedabad and Hyderabad. These cities may change from time to time as per directions given by HSBC bank.