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HSBC's Personal Loan
New to HSBC's Personal Loan?
Whether you seek to nurture your child's talent with enrichment classes or turn your passion into a business, you can count on HSBC's personal loans - the faster way to extra cash with fixed monthly instalments for your greater control.
Latest Promotion
From now till 31 May 2013, receive attractive gifts* when you apply online. Here's how you can be rewarded:
- Approved loan amount of S$25,000 and above:
Acer Aspire V5-131-10072G50n (Silver) Notebook - Approved loan amount of S$12,000 to S$24,999:
Acer Iconia B1-A71 Tablet - Approved loan amount of S$5,000 to S$11,999:
S$50 The Choice voucher
Existing HSBC's Personal Loan Customer?
Enjoy greater flexibility when you draw down the amount that you have already repaid from your existing HSBC's personal loan account up to four times your monthly income, with no processing fee!
At the same time, you may choose to extend your loan tenor, while enjoying as much control as before with fixed monthly repayments
Benefits and features
- Extra cash of up to four times# your salary
You can borrow up to four times# your monthly salary or up to S$100,000, whichever is lower, for any purpose you wish.
- Regular loan repayments
Enjoy greater control with equal monthly instalments.
- No guarantor or collateral required
Enjoy totally hassle-free, easy application.
- Longest loan tenor of up to 7 years+
With a choice of loan tenor between one to seven years, you have the flexibility to choose a repayment period that is right for you.
- Affordable low interest rates
Depending on your approved loan amount and loan tenor, you’ll enjoy from as low as of 12% p.a.
Plus, you’ll enjoy further interest rate discounts when you take up our suite of banking services.
- HSBC Premier customers will enjoy 10% p.a. on all loan tenors
- HSBC Advance customers will enjoy 11% p.a. on all loan tenors
A processing fee of S$88 is applicable for all approved loan applications.
For annual income of S$40,000 and above
For annual income of S$30,000 to S$39,999
• FR (Flat rate, for reference only): is based on a front-end add-on calculation method (Interest = loan principal x flat rate x loan tenor).
• Monthly repayments have been rounded up/down to the nearest dollar for illustration purposes only.
• EIR (Effective interest rate): is inclusive of applicable processing fee, and based on the stated assumed approved loan amount.
• The Bank will deduct the applicable processing fee from the loan proceeds at the point of disbursement.
• The Bank will apply the EIR (net of processing fee) on the loan based on a monthly reducing balance method, where the EIR (net of processing fee) is multiplied by the outstanding loan balance, which reduces monthly as repayments are made.
• Interest is charged at daily rest on a 365 days per year basis.
- 24-hour Assistance
Call our 24-hour Customer Service Hotline on 1800-HSBC NOW (4722 669) in Singapore or (65) 6-HSBC NOW (4722 669) from overseas.
# For Singaporeans and Singapore Permanent Residents, the total loan amount for your HSBC's personal loan will be capped at four times your monthly income as indicated in the income documents, subject to a maximum of S$100,000, or an amount HSBC may in its discretion determine. However, for individuals with an annual income of S$30,000 to under S$120,000, this is subject always to your aggregate maximum credit limit with HSBC for all unsecured facilities, regardless of the number of HSBC Credit Card(s) and/ or Unsecured Loans Facility you hold or apply for, being no more than four times your monthly income.
For foreigners residing in Singapore, a minimum annual income of S$40,000 is required and your employment pass must be valid at least for a year, and the loan amount will be up to two times your monthly income, or an amount HSBC may in its discretion determine.
+ Loan tenors of six and seven years are only applicable for salaried employees earning an annual income of S$30,000 and above.
Personal Line of Credit and Personal Term Credit Terms and Conditions
The Personal Line of Credit & Personal Term Credit Terms and Conditions has been updated with effect from 05 December 2012. Please click here for more information.
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Next steps
Call us on 1800-HSBC NOW (4722 669) in Singapore or (65) 6-HSBC NOW (4722 669) from overseas
Highlights
