Features & benefits
- Consolidates all your outstanding balancesEase of single monthly repayment to only one (1) Financial Institution.
- Debt Consolidation refinancingRefinance your existing Debt Consolidation Plan with HSBC to enjoy interest savings and cashback.
- Complimentary credit cardBundled with a HSBC Visa Platinum credit card with a credit limit equivalent to your monthly income for your daily financial needs.
- Attractive interest ratesEnjoy one of the lowest interest rate with no processing fee.
- Loan tenor of up to 10 yearsAffordable monthly repayment available from one (1) to 10 years (conditions apply).
Let our Loan Specialist guide you through the application. Leave us your contact details and we will be in touch within 1 working day.
|Tenor (years)||Equivalent Flat Interest Rate3(p.a.)||Applied/Effective Interest Rate2 (p.a.)
|1 - 10
||From 3.8% p.a.
||From 7.0% p.a.
1 - 10
|Equivalent Flat Interest Rate3(p.a.)||
From 3.8% p.a.
|Applied/Effective Interest Rate2 (p.a.)
From 7.0% p.a.
Refinance your existing Debt Consolidation Plan with HSBC to enjoy 5% cashback
Receive 5% cashback1 upon approval of your Debt Consolidation Plan refinancing
Free Credit Bureau Report Promotion (For limited time only!)
1Eligible Applicants will be offered a promotional interest rate of 3.8% p.a. (EIR 7% p.a.) to 5.2% p.a. (EIR 9% p.a.) in respect of their Debt Consolidation Loan, based on their personal credit profile and such other factors as may be determined by HSBC. Debt Consolidation Loan Promotion terms and conditions apply.
2Effective Interest Rate (EIR) is inclusive of processing fee computed based on 1% of approved loan amount, subject to a minimum of SGD88, where applicable. The Bank will apply the Applied Interest Rate (net processing fee) on the loan amount on a reducing balance method.
How it works
HSBC Debt Consolidation Plan is a refinancing programme to consolidate the outstanding from all your existing unsecured credit facilities and is bundled with a revolving credit facility as a convenient mode for managing your daily financial needs.
- Debt consolidation loanConsolidate the outstanding balance from all your existing unsecured credit facilities into a term loan with fixed monthly repayment.
- Revolving credit facilityManage your daily financial needs with HSBC Visa Platinum credit card which gives you more savings.
Apply for a HSBC Debt Consolidation Plan
Are you eligible?
To apply for HSBC's Debt Consolidation Plan, you must meet the following requirements:
- Nationality: Singaporean or Singapore Permanent Resident (PR)
- Annual income : Between SGD30,000 and SGD119,999 for salaried or between SGD40,000 and SGD119,999 for self-employed or commission-based earner
- Total interest bearing balances^ in respect of unsecured credit facilities with financial institutions in Singapore exceeds 12 times monthly income
^ Interest bearing balances include amounts rolled over on credit card and balances outstanding on unsecured loans that accrue interest.
View supporting documents
Have us contact you
Wish to speak to our telesales agents about HSBC Debt Consolidation Plan?
Leave us your contact details and we will be in touch within 1 working day (during office hours).
Upon approval of Debt Consolidation Plan application:
- No cancellation is allowed
- All existing unsecured credit facilities will be suspended/closed