HSBC's Personal Line of Credit Payment Plan Terms and conditions

1. Only one application per account is allowed.

2. This Promotion is not valid in conjunction with any other promotional interest rate offers (including personal line of credit fund transfer).

3. The minimum amount is S$500, up to 80% of the amount determined by (a) the Customer's approved credit limit minus (b) any outstanding balance on HSBC's personal line of credit at the time of processing of the application.

4. This Payment Plan programme does not allow the account holder to use their HSBC debit card linked to HSBC's personal line of credit at any point of sale.

5.HSBC will not process the application if

(a) Your account is not maintained in good standing or not conducted in a proper or satisfactory manner as determined by HSBC at its sole discretion; and/or

(b) Your account stated above is already enroled in a fund transfer programme or other interest rate promotion.

6. No cancellation or change in the amount will be allowed after submission of application.

7. This promotional interest rate of 0% p.a. is not transferable and HSBC reserves the right to revise the promotional interest rate at any point, without prior notice. 

8. This promotional interest rate of 0% p.a. for six or 12 months is applicable for the approved amount stated. Any outstanding balances and drawings will be charged at the prevailing interest rate. 

9. The effective interest rate for the duration of the promotional tenor is 0% p.a. The prevailing interest rate of 16.5% p.a. will apply upon the expiration of the promotional tenor.  

10. A non-refundable one-time processing fee on the approved amount applies. For a promotional tenor of six months, the processing fee is 2.50%. For a promotional tenor of 12 months, the processing fee is 5%. 

11. The approved amount to be transferred will be determined by HSBC at its sole discretion and HSBC reserves the right to decline any application without assigning any reason. HSBC shall not be liable for any charges, overdue payments or interest incurred by the Customer due to rejection of or delays in processing the application. 

12. HSBC will not accept a Payment Plan application that will require disbursement to another HSBC credit card or HSBC's personal line of credit. The disbursement must be to an account held in the name of the main account holder and the selected credit card or bank account from other credit card issuers or banks in Singapore and must be denominated and transacted in Singapore dollars. 

13. Payments made to HSBC's personal line of credit account are applied in the following order of priority, namely drawings charged at the preferential or promotional interest rate and drawings charged at the prevailing interest rate.

14. The Customer is required to make payment to the designated credit card issuer or banks until he/she receives written confirmation that the amount have been credited into his/her designated account. HSBC will not be liable for any overdue payments or interest incurred due to non-payment by the Customer.

15. The Customer must remain an HSBC's personal line of credit customer for the tenor of the Payment Plan promotional period. HSBC reserves the right to charge the Customer the full interest that would have been payable should the Customer cease to be an HSBC's personal line of credit customer at any time before the end of the tenor for the Payment Plan promotion.

16. These terms and conditions should be read in conjunction with the personal line of credit terms and conditions and applicable account terms and conditions. HSBC reserves the right to amend these terms and conditions, with or without notice to the Customer. The mode of notification of suspension, termination or variation shall be at HSBC's sole discretion, including but not limited to branch display and statement inserts.