
With a secured overdraft you don't have to convert your long-term assets to cash. So you can continue to earn good returns from your investments. You need only to put up as collateral assets such as your unit trusts, time deposits, shares or private properties to obtain a secured overdraft.
| Credit cards | Unsecured credit | |
|---|---|---|
| Interest rates | 24% p.a. | 16% p.a. |
| Interest based on S$10,000 loan | S$2,400 p.a. | S$1,600 p.a. |
| Interest based on S$10,000 secured overdraft | S$700 p.a. | S$700 p.a. |
| Savings | S$1,700 (more than 70% interest savings) | S$900 (more than 50% interest savings) |
Your credit limit is no longer restricted to two times your monthly salary. Instead, the quantum of the secured overdraft is dependent on the value of your assets and the type of assets that you use as collateral.
* purchased through HSBC only
Call us on 1800-HSBC NOW (4722 669) in Singapore or (65) 6-HSBC NOW (4722 669) from overseas