HSBC Personal Loan is an ideal option to fulfill any of your personal needs. The personal loan by HSBC is offered from Rs. 75,000 to Rs. 30 lakh. It is easy to process, requires minimum documentation and offers quick disbursal. The tenure for HSBC personal loan ranges from 6 months to 60 months and offers complete flexibility.
HSBC Personal Loan - Features and Benefits
- Loan amount: HSBC offers a personal loan of upto Rs. 30 lakh to individuals depending upon their financial history and repayment ability
- Flexible tenure: HSBC offers flexible tenure on personal loans up to 60 months. The loan Applicant can choose a tenure ranging from 6, 12, 18, 24, 30, 36, 42, 48, 54 or 60 months
- Easy repayment: The repayment method for HSBC personal loan is easy and can be done through EMIs or through National Automated Clearing House (NACH) or by setting up a Standing Instruction on the HSBC Account
- Balance transfer: HSBC also offers Balance Transfer Facility where one can easily transfer their existing personal loan to HSBC from another bank
- Quick processing:The bank offers the facility of quick loan processing so that the customer does not have to wait long for the funds and can avail them quickly
- Widespread availability: HSBC Customers can avail personal loan in the cities of Ahmedabad, Bengaluru, Chandigarh, Chennai, Cochin, Coimbatore, Hyderabad, Jaipur, Kolkata, Mumbai, New Delhi, Pune and VIzag (only employees of HSBC Vizag)
HSBC Personal Loan - Interest Rate and Fees
|Type of Fees||Charges Applicable|
|Interest Rate||Interest Rate charges range from 10.75% p.a. to 17.84% p.a.|
|Processing Fees||Up to 1% of the disbursed loan amount. The processing fee which has been paid or deducted is non-refundable.|
|Foreclosure / partial pre-payment charges*||Up to 3.75% of the Principal outstanding. Foreclosure/Prepayment is allowed only after 12 months from the date of Loan Disbursal|
HSBC Personal Loan - Eligibility Criteria
- You must be an existing customer of HSBC holding HSBC credit cards, liability accounts or home loan or you should be an employee of select corporates
- You should be at least 23 years old
- Your maximum age should be 60 years
- Your minimum monthly income should be Rs. 25,000
HSBC Personal Loan - Documents Required
|Proof of Identity (any one)||Passport|
Permanent driving license
Government employee ID card
Defense ID card
Permanent Account Number (PAN) card
National Rural Employment Guarantee Act
(NREGA) job card
|Proof of Address (any one)||Passport|
Permanent driving license
Society outgoing bill (only from registered societies)
Gas bill (pipeline connection only)
Property tax bill
Domicile certificate with address issued by Municipal Corporation
Registered rent/lease agreement (registered with State Government or similar registration authority)
|Financial Documents||Latest salary slip (mandatory)|
Bank statements of the primary account for the last 3 months (mandatory)
Acknowledged IT return (latest) for one year (optional)
Latest Form 16 (optional)
P&L account and balance sheet for the last 2 years certified/audited by a C.A. (mandatory)
Acknowledged IT returns for the last 2 years (mandatory)
Bank statements of the primary account for the last 6 months (mandatory)
HSBC Personal Loan - EMI Calculator
One can check the EMI of HSBC personal loan at Paisabazaar.com and plan his future expense accordingly. Not only this, the personal loan EMI calculator also helps you to borrow a loan amount as per your repayment ability. All you need to do is to fill the following details:
- Loan amount
- Interest Rate
Compare HSBC Personal Loan VS Other Lenders
|Particulars||HSBC||HDFC Bank||Citi Bank||Axis Bank||ICICI Bank||Bajaj Finserv|
|Interest Rate||10.75% to 17.84%||11.25% to 21.50%||Starting from 10.99%||11.49% to 17.49%||11.50% to 19.25%||Starting from 12.99%|
|Tenure||6 months to 5 years||12 to 60 months||12 to 60 months||12 to 60 months||12 to 60 months||12 to 60 months|
|Loan amount||Upto Rs. 30 lakh||Upto Rs. 40 lakh||Upto Rs. 30 lakh||Rs. 50,000 to Rs. 15 lakh||Upto Rs. 20 lakh||Upto Rs. 25 lakh|
|Processing Fee||Up to 1% of the disbursed loan amount||Upto 2.50% of the loan amount||Upto 3% of the loan amount||2% of loan amount plus GST||Upto 2.25% of loan amount plus GST||Up to 3.99% of the loan amount|
|Apply Now||Apply Now||Apply Now||Apply Now||Apply Now||Apply Now|
HSBC - Customer Care
|Resident Customers||Within India||For Overseas|
|HSBC Premier (Toll Free)||1800 266 3456|
1800 120 4722
|HSBC Advance (Toll Free)||1800 267 3456|
1800 121 2208
What is the interest rate on personal loan from HSBC Bank?
Currently, the interest rate on personal loan ranges from 10.75% to 17.84% .The final interest rate though is decided by the bank on the basis of your credit score, repayment history, age, employer, etc.
Is partial disbursement an option with HSBC?
The loan amount is disbursed at one go. There is no option of partial disbursement.
What are the EMI dates for HSBC bank?
The EMI dates can be 5th or 15th of the month depending on the date of disbursal.
How do I receive the disbursed loan amount?
The disbursed amount will be directly credited to your bank account.
What if I miss payment on the due date?
If you miss the payment on the due date:
- Your credit score will be impacted.
- You will have to pay late payment charges.
- The bank can also initiate recovery proceedings in order to recover the dues.
Can I pre-pay my personal loan?
Yes, you can pre-pay the personal loan after the 12th EMI. You will have to give intimation in writing and pay in accordance with the prepayment amount confirmation given by the bank.
What are the costs associated with HSBC personal loan?
To avail HSBC personal loan, you will have to pay a processing fee along with servicing interest applicable on the loan. The processing fee that will also include GST will be deducted directly from the personal loan at the time of disbursement.
Is it possible to make a partial prepayment for my personal loan?
Yes, it is possible to partially prepay the loan upto 20% of the original disbursed loan amount per year. Partial payment can be made only after the 12th EMI along with a prepayment charge of 3.75% of amount prepaid.