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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, more flexible way to extra cash.
If you prefer to pay fixed monthly repayments, HSBC's Personal Loan is your ideal loan solution.
NEW! For existing HSBC’s Personal Loan customers
Your HSBC's personal loan is now more flexible. You can 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.
Calculate your new monthly instalment here!
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
These calculation numbers have rounded up/down to the nearest dollar for illustration purposes only
• 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)
• EIR (Effective interest rate): is inclusive of applicable processing fee
• 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.
Revision of Personal Line of Credit and Personal Term Credit Terms and Conditions
The Personal Line of Credit & Personal Term Credit Terms and Conditions will be changed and updated with effect from 3 October 2011. The changes include Section C Clause 1. Please click here for more information.
*For annual income of S$30,000 and above, 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 absolute discretion determine. However, 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 absolute discretion determine.
# One hour approval in-principle terms and conditions apply.
^ 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
Information is accurate as of 01 November 2011.
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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
