3.5%p.a. (six months) and 7.5%p.a. (twelve months) Fund Transfer Promotion Terms and Conditions

1) The promotion is valid for HSBC's personal line of credit account applied between 2 March to 3 May 2009, and opened by 29 May 2009.

2) The promotional fund transfer interest rate is 3.50% p.a. for six months and 7.50% p.a. for twelve months. The promotional fund transfer interest rate is valid from the date of fund transfer approval and is only applicable to the personal line of credit upfront fund transfer amount. Any and all outstanding balances, all other interest rate charges and subsequent drawings will be charged at the prevailing interest rate 17.8% p.a. (subject to change by HSBC at its sole discretion at any time and from time to time). The savings in interest is calculated based on the difference between prevailing interest rate of 17.8% and promotional fund transfer rate of 3.5% p.a. for six months. 

3) The first year effective interest rate (taking into account the full utilisation of the credit limit) for the personal line of credit fund transfer is 10.65% p.a. and 7.5% p.a. respectively for the six months and twelve months fund transfer promotion. The prevailing interest rate of 17.80% p.a. (subject to change by HSBC at its sole discretion at any time and from time to time) will apply upon the expiration of the promotional fund transfer interest rate.

4) HSBC reserves the right to revise the promotional fund transfer interest rate offer at its sole discretion at any time and from time to time.

5) Only one fund transfer application per account is allowed.

6) This promotion is not valid in conjunction with any other promotional interest rate offers (including existing HSBC’s personal line of credit fund transfer offer).

7) The minimum transfer amount is S$1,000 and 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 application.

8) No cancellation or change in the fund transfer amount will be allowed after the submission of application.

9) 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 the rejection of or delays in processing the application.

10) 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.

11) HSBC will not accept any amount transferred to another HSBC credit card account or HSBC's personal line of credit account. Customer’s designated credit card account or bank account from other credit card issuers or banks in Singapore that the fund transfer amount is to be transferred to must be denominated and transacted in Singapore dollars.

12) The customer is required to make payment to the designated credit card issuer or banks until he/ she receives written confirmation that funds 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.

13) The customer must remain an HSBC's personal line of credit customer for the full tenor of the fund transfer 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 of the fund transfer promotion.

14) These terms and conditions should be read in conjunction with the personal line of credit and personal term credit terms and conditions.

Promotion terms and conditions for shopping voucher.

1) The shopping voucher promotion ("Promotion") is valid for HSBC's personal loan accounts applied between 2 March to 3 May 2009, and opened by 29 May 2009.

2) Customers who submit their personal loan applications online via the 1-hour online approval programme at hsbc.com.sg will be eligible to participate in this Promotion. Online applications under any promotions or programmes other than the 1-hour online approval programme are excluded.

3) The Promotion is applicable for HSBC's personal loan accounts with minimum disbursement of S$5,000.

4) Any customer eligible for the shopping voucher will be issued a redemption letter from HSBC within two months after month of account opening. The personal loan account and/or any other unsecured facility(ies) with HSBC must be in good standing (as determined by HSBC in its absolute discretion) from date of account opening to the date of issuance of redemption letter, failing which the shopping voucher shall be forfeited.

5) The redemption letter is to be presented at the assigned store(s) for redemption of shopping vouchers.

6) This Promotion is not valid with other promotions, discounts, gifts and vouchers. The use of the shopping voucher will be subject to the terms and conditions stated on the shopping voucher.

7) The shopping voucher is not exchangeable for cash, points or other rewards from HSBC.

8) HSBC is not a supplier of the products or services under this Promotion and will not accept any liability in relation thereto.

9) HSBC reserves the right to vary the terms and conditions of and to suspend or terminate this Promotion at any time without prior notice.

10) HSBC's decision on all matters relating to this promotion is final and no appeal or correspondence will be entertained.

11) These terms and conditions should be read in conjunction with the personal line of credit and personal term credit terms and conditions.

12) For personal loan accounts which enjoyed the Promotion and are closed within six months from the date of account opening, an early closure fee of S$100 will apply.

Approval In-Principle - Terms and Conditions

1) The online application is subject to approval. The Bank will notify the applicant of the outcome of the application via communication methods previously authorised by the applicant and/or in writing. 

2) The notifications of the outcome of the application will be sent to the applicant within one hour for applications submitted between 8 am to 11 pm provided the Bank's server is not experiencing unexceptionally high volume or undergoing system maintenance. For applications submitted after 11 pm, notifications will be given the next day.

3) Approval in-principle is a provisional approval provided by the Bank based on the information provided by the applicant. Upon satisfaction of all requirements fulfilled by the applicant, including submission of the documents as stated on the Letter of Instruction, the Bank shall review and if appropriate, grant a formal approval and provide the applicant a newly opened personal loan or personal line of credit account.  

4) Approval in-principle is only valid for 14 days during which the applicant must submit the neccessary documents to the Bank for processing. 

5) Approval in-principle is only applicable for online applications.

6) Approval in-principle is not applicable for joint applicants and other circumstances as prescribed by the Bank from time to time.   

7) HSBC reserves the right to vary the terms without prior notice at any time.  

8) These terms and conditions should be read in conjunction with the personal line of credit and personal term credit, terms and conditions. For full details, please click here.