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Secured Overdraft
Overdraft benefits and features
- Favourable interest rates which reduce interest payments by more than 50%
- No minimum repayment each month
- Flexible repayment - as much as and whenever you want to
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.
Lower interest rate and flexible repayment
| 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) |
Overdraft Quantum
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.
- Time Deposit (local and foreign currency) - up to 100% financing
- Unit Trust - up to 70% financing
- Shares - up to 50% financing
* purchased through HSBC only
Apply for an overdraft today
Simply complete the application form and send it to us with the necessary information and supporting documents.
Call our 24-hour Customer Service Hotline on 1800-HSBC NOW (4722 669) in Singapore or (65) 6-HSBC NOW (4722 669) from overseas.
Next steps
Call us on 1800-HSBC NOW (4722 669) in Singapore or (65) 6-HSBC NOW (4722 669) from overseas
Highlights
