A "low interest" loan shouldn't mean you have very little interest in paying it back!
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  • HSBC Home Loan Overview is Rated as "Excellent!" by 27 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service

    Responsiveness

    Home Loan BYTES FROM OUR KITCHEN
    rated 4.5/5.0 by 27 users

    HSBC Home Loan Overview

    HSBC Holdings plc is a British multinational banking and financial services company headquartered in London, United Kingdom. It is one of the world's largest banks. It was founded in London in 1991 by the Hongkong and Shanghai Banking Corporation to act as a new group holding company.We understand that buying a house is one of the most important decisions in life, for people across the world. We also know that while most people dream of owning a perfect home, achieving that goal can be quite a challenge, especially when it comes to arranging the finance required to make such an expensive purchase.Now you fulfill this dream by opting for a Home Loan from HSBC.


     

    You’re probably eligible for an HSBC Home Loan if you are

    01
    02
    03
    04
    HSBC Home Loan Minimum Age

    At least 21 years old

     HSBC Home Loan Maximum Age

    Less than 58 years old

    HSBC Home Loan Eligible Employment Type

    Salaried / Self-employed
    with regular income

    HSBC Home Loan Minimum Income

    Minimum income required
    5, 00,000 per annum


     

    Your HSBC Home Loan amount eligibility is based on these factors

    01
    02
    03
    HSBC Home Loan Minimum Salary

    EMI limited to about 50%
    of monthly income

    HSBC Home Loan Maximum Loan to property value

    Loan capped @ Max – Rs. 10,00,00,000

    HSBC Home Loan EMI

    EMIs of other loans lower
    your eligibility


     

    Increase your eligible HSBC Home Loan amount by these steps

    01
    02
    03
    HSBC Home Loan Add Spouse as Co-applicant

    Make your spouse a co-applicant,
    and her income will add
    to your eligibility

    HSBC Home Loan Maximum Tenure

    Choose longer tenure loan up to 25 years

    HSBC Home Loan Add parents as Co-applicant

    Alternatively add your parents


     

    Documentation needed to apply for an HSBC Home Loan

    • 1. Signed application form with photograph
    • 2. Photo and age proof
    • 3. ID and Signature Proof
    • 4. Present address Proof
    • 5. Documentation for salaried applicants:

      - Last 3 months Salary-slips

      - Last 3 months bank statements showing salary credits

    • 6. Documentation for self-employed applicants:

      - IT returns for last 2 years

      - Last 2 years P&L account, balance sheet certified by CA

      - Last 6 months bank statements


     

    HSBC Home Loan Interest RatesUpdated on 21 Nov 2017

    HSBC Home Loan Details
    Interest Rate 8.65% to 8.75%
    Processing Fees 1% of the loan amount or Rs.10000,whichever is higher
    Loan Tenure 25 years
    Pre-closure Charges Nil

     

    HSBC Home Loan Overview:

    We all fantasize about the day of finally not answering to our tenant and owning our own homes. We all know about the staggering expense of purchasing our own home as well. If you thought it is impossible for you to achieve that dream, think again. HSBC Home Loan provides the most affordable and flexible housing loans so that you can turn your dream of owning your home into a reality.

    Features and Benefits of HSBC Housing Loan:

    1. Loan amount: You can avail home loans which amounts to anything from Rs. 3 lakhs to Rs. 10 crore.
    2. Loan tenure: You may avail loan tenures up to 20 years. If you are a salaried customer, you may avail one for even up to 25 years.
    3. Property types: Both Resident Indians and Non-Resident Indians (NRIs) can apply for HSBC Smart Home loans. Customers can get loans for ready properties, properties which are under construction (must be approved by HSBC), home improvement, to buy a plot of land and self-construction. If you are an NRI applicant, you must have a local contact person or a local co-applicant to apply for this loan.
    4. Interest Rate: Home Loans are offered at floating rate of interest. Sometimes it is also offered at fixed rate for specific loan tenures. You can talk to your Relationship Manager or visit a HSBC branch if you want to see if fixed rate special offering is applicable in your case. You can also see if there are any other features that you could use, as well as about the applicable terms and conditions.

    HSBC Bank Home Loans Interest Rate:

    The applicable interest rates on HSBC Home Loans are:

    Type of customer Regular home Smart loan
    Salaried 8.65% p.a. 9.15% p.a.
    Self-Employed 8.75% p.a. 10.15% p.a.

    HSBC Home Loan MCLR:

    For top-up loans, the interest rate will be the same as original loan if the top-up amount is less than 150% of the original loan amount. Any amount higher than 150% of the base loan will attract an additional interest rate of 0.5%.

    Loan Tenor MCLR
    Overnight 7.75%
    1 month 7.75%
    3 months 7.85%
    6 months 8.00%
    1 year 8.00%

    HSBC’s home loan use the 3-month MCLR as the base rate. This rate will be revised every 3 months, but the home loan interest will be reset annually based on the 3-month MCLR in vogue at the time of reset. The bank will also add a margin or spread to the MCLR to arrive at the home loan rate of interest.

    HSBC Home Loan EMI Calculator:

    If you are unsure of whether you will be able to afford a loan EMI or not, the simplest way to solve the dilemma is to use an online EMI calculator. BankBazaar’s EMI calculator gives you accurate results, factoring in the rate of interest, tenure, processing fees and any pre-payments you can make.

    • Visit BankBazaar.com and go to the Menu tab at the top right corner of the page.
    • You will find the EMI calculator under ‘Finance Tools’. Select it.
    • On the page, you can use the slider to input the Loan Amount and Tenure.
    • Interest Rate and Processing Fee of HSBC bank needs to be input in the next columns.
    • You can select ‘Yes’ or ‘No’ for pre-payment, and if you intend to make any pre-payments you can enter the payment frequency, amount, pre-payment fee and the applicability.
    • Click on ‘Calculate’ once all values are entered.
    • The EMI wizardry will estimate not only the EMI, but also the total interest payable and the total amount you’ll be paying the bank over the period of loan.

    HSBC Home Loan Fees & Charges:

    1. Processing fee:
      1. Of the loan amount that has been sanctioned, 1% will be charged as processing fee or the amount of Rs. 10,000 (whichever is higher). Additionally, you will be charged with GST.
      2. The fee will be collected in two parts: Rs. 5,000 + GST. This should be paid together with the loan application.
      3. The balance Processing Fees amount + GST must be paid before disbursal of the loan.
      4. The Processing Fees once paid is non-refundable.
    2. For Home Loan you will not be charged for prepayment.
    3. Copy of property documents held with the bank will be charged Rs. 500
    4. For Delayed installments on account of cheque or SI (standing instruction) dishonors will be charged Rs. 250 per instance
    5. For amount more than 25% of the loan amount sanctioned in every financial year you will be charged 3% of the amount prepaid
    6. For expenses incurred on Proceedings under Proceedings under Sec138 of NI Act / SARFAESI Act and/ or other Litigation on the account, you will be charged as per actuals applicable to an overdue / delinquent account.

    HSBC Housing Loan Eligibility:

    These are the criteria that you must fulfill in order to be eligible for a HSBC Smart Home Loan:

    Should be a earning a minimum of Rs. 5, 00,000 p.a. if you are salaried Rs. 7, 50,000 p.a. if you are self-employed
    Minimum age 21 years
    Maximum age on maturity of loans 58 years if salaried employee 60 years if government employees / public limited 65 years if self employed
    Minimum Loan Amount Rs. 3,00,000
    Maximum Loan Amount Rs. 10,00,00,000
    Maximum Tenure period If you are a salaried applicant, 25 years

    Documents Required for HSBC Home Loan:

    1. Completed application form along with one passport-size photograph. Please make sure that all documents are self-attested.
    2. Any one of the following as Proof of Identity (PI):
      • Passport
      • Election/Voter’s ID
      • Permanent driving license
      • Permanent Account Number (PAN) card
      • Aadhaar Card
    3. Any one of the following as Proof of Present Residential Address (PRA):

      • Passport
      • Election/Voter’s ID
      • Permanent driving licence
      • Society outgoing bill (only from registered societies)
      • Electricity/water/telephone bill
      • Gas bill (pipeline connection only)
      • Property tax bill
      • Domicile certificate with address issued by Municipal Corporation
    4. Proof of age (any one)
      • Passport
      • Permanent driving licence
      • PAN Card
    5. Resident Indians will need to provide the following Financial / Income documents:

      (All documents need to be self-attested. Only the basic documents required are mentioned below. Please speak to your Relationship Manager or visit a HSBC branch for more details.)

      Salaried individuals:

      • Latest 3 months’ salary slips which show statutory deductions. and
      • last 3 months’ Bank statements which show last 3 salary credits

      Self-employed individuals:

      • Last 2 years’ acknowledged IT returns (including e-acknowledgement)
      • Balance sheet certified/ audited by a CA, P&L account.
      • Computation of income for last 2 years along with all annexures and auditor’s report
      • Primary bank account statements for the last 6 months. Partnership Deed is also needed.
      • For Partners of the Partnership firm, additionally Partnership Deed is required

      Directors of Private limited companies, in addition to the above documents, will need to provide the following:

      • Shareholding pattern/Memorandum and Articles of Association duly attested by a CA
      • List of Directors

      Consultant / Self-employed Professional:

      • Last 2 years’ acknowledged IT returns (including e-acknowledgement)
      • Balance sheet certified/ audited by a CA, P&L account.
      • Computation of income for last 2 years along with all annexures and auditor’s report
      • last 6 months’ Primary bank account statements
    6. Non Resident Indian (NRI) will need to provide the following Financial/Income documents

      Salaried individuals:

      • Copy of Indian passport (valid) which show Visa stamps/ copy of foreign passport/ other equivalent documents

      • Copy of work permit/ valid Visa/ equivalent documents which support the NRI status of the applicant accountholder

      • Latest contract copy which shows the salary/ wage slips/ salary certificate
      • Overseas bank account statements for last 3 months showing salary credits
      • 3 months NRE/NRO account statements
      • Local bureau report of the country where customer is based

    HSBC Home Loan Reviews

    • HSBC Bank Home Loan
      "Customer relationship should be there"
      0.5 4.0/5 "Great!"
      I am not satisfied with HSBC, I felt their rate of interest and charges was high. I took home loan at 2012, they charged me 9.2% and their was no response from customer response. They didn't reverse the interest after getting offer DBS bank, they ready to reduce the rate. But finally I done balance transfer to DBS.
      Was this review helpful? 0
      , pune
      Reviewed on Oct 21, 2017
    • HSBC Bank Home Loan
      "Best bank ever I have come up"
      0.5 5.0/5 "Blown Away!"
      I had taken a home loan with HSBC and it was during the year 2004. They took around 15 days of time to disburse my housing loan. The response, customer support is really good and it is very much prompt too because they do provide very good service to customers. The rate of interest charged by them is very much nominal and it was as per government norms. They take care of each and every product because whenever there is a change in the rate of interest they used to give a call and inform about the charges and their service comes to us at free of cost.
      Was this review helpful? 0
      , navi mumbai
      Reviewed on May 13, 2017
    • HSBC Bank Home Loan
      "Good "
      0.5 4.0/5 "Great!"
      I took the housing loan with HSBC and their interest rate is around 8.6%. The loan amount got disbursed to my account within a month of time from the inquired date, also it has been delayed from my end only. Processing charges charged were very much nominal with them.
      Was this review helpful? 0
      , mumbai
      Reviewed on Feb 27, 2017
    • HSBC Bank Home Loan
      "Fantastic experience of HSBC Home Loan"
      0.5 5.0/5 "Blown Away!"
      For the first time i expereienced digital banking at doorstep. perfect clarity, perfect communication and perfect co-ordination. The job done by HSBC is awesome. They are very fast, faster than what you think. There product is best in market. One can go blindly
      Was this review helpful? 1
      , pune
      Reviewed on Oct 08, 2016
    • HSBC Bank Home Loan
      "Good"
      0.5 3.0/5 "Satisfactory"
      A big plus of HSBC is they were offering a housing loan with zero processing fee. Interest rate was higher with HSBC though. , I had raised a request online. However one of my friend suggested that SBI is much better than HSBC therefore I had cancelled that. It was before 6 to 7 months I had placed a request online.
      Was this review helpful? 0
      , mumbai
      Reviewed on Sep 08, 2016
    • HSBC Bank Home Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I have closed the home loan with the HSBC bank and am having the very good experience with them because they are good in every aspects. Customer service is an excellent one and I was with them for thirteen years of time with two home loan.
      Was this review helpful? 1
      , bangalore
      Reviewed on Apr 16, 2016
    • HSBC Bank Home Loan
      "Rates are good but system & process is too slooow"
      0.5 3.5/5 "Pretty good"
      I opted for Home Loan for HSBC Bank and while was happy with rates (just few bps higher than SBI Home Loan which was having best rates across) and overall process I found them too be too slow. Luckily my Sales Person was good but even then overall it was slow process. So pls bear that in mind. Once all done, had to go to Fort Branch (I took in Mumbai) to their bank and followed by visit to their lawyer wherein original documents are deposited. The EMIs for HSBC Bank can only be paid from their own Savings Account.. this was another hassle as had to open SA with them. Further unlike other home loan banks like HDFC Bank etc which process pre-payment from same date as date of request along with payment instrument say cheque / DD / funds, HSBC is too slow and would say shrewd. They have TAT of 4-6 days and they credit after that only. This is a loss and not ethical.
      Was this review helpful? 0
      , mumbai
      Reviewed on Apr 01, 2016
    • HSBC Bank Home Loan
      "Need more grace time like SBI Bank..."
      0.5 2.5/5 "Just OK"
      I approached HSBC Bank for an Home loan. Their customer service people were very polite. The thing is rate of interest part and they offered 11.5%. But their loan process was quick. Pre closure charges and late penalty charges are higher side. But sbi bank have some grace time like 2months.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Mar 05, 2016
    • HSBC Bank Home Loan
      "Poor"
      0.5 2.0/5 "Expected more"
      I took the home loan with hsbc bank . The customer service is very poor and response time is also very poor. They do not want to help the customer. Interest rate are also not very competitive . The processing time of loan is TDS.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Feb 03, 2016
    • HSBC Bank Home Loan
      "good disbursment"
      0.5 5.0/5 "Blown Away!"
      It was the staff home loan from hsbc bank the process was good and interest rate was 1% less than the market rate and the processing fee was 0%..Pretty much documents were collected for the process and within 15 days the loan was disbursed.
      Was this review helpful? 1
      , pune
      Reviewed on Dec 17, 2015
    • HSBC Bank Home Loan
      "Not bad..."
      0.5 3.0/5 "Satisfactory"
      I have taken Home loan from HSBC Bank. They were quiet delay while during the process. I was unable to make the repayment. I had bad experience with them. But Mr vinoth guided me well. Finally I made the payment with charges and closed that loan.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Nov 24, 2015
    • HSBC Bank Home Loan
      "Very good"
      0.5 5.0/5 "Blown Away!"
      My relationship Manager was there with HSBC bank as my account was there as well , therefore I got my home loan transferred to HSBC . I transferred my loan from DHFL to HSBC. The rate of interest they have offered was amazing, the execution part was good. I have just the transferred the loan within 30 days of time and it was done.
      Was this review helpful? 0
      , mumbai
      Reviewed on Nov 23, 2015
    • HSBC Bank Home Loan
      "Very Good services"
      0.5 4.0/5 "Great!"
      I have taken a smart home loan from HSBC Bank. The services was good. It was a pre approved loan. They offered a good rate of interest. The processing fees was reasonable. It been 15 years now that I have taken my loan from them
      Was this review helpful? 1
      , pune
      Reviewed on Nov 04, 2015
    • HSBC Bank Home Loan
      "Best Bank with Best service "
      0.5 4.0/5 "Great!"
      Being a employee of HSBC Bank I have got better rate for this Home loan which is around 9.7%.I am really happy with the service provided by HSBC.The customer service is very fast in response and they provide active follow up within 48hours.They do apply nil charges for the employee of Bank.
      Was this review helpful? 1
      , pune
      Reviewed on Sep 26, 2015
    • HSBC Bank Home Loan
      "Good!!!"
      0.5 5.0/5 "Blown Away!"
      Hsbc is good bank. Was upto the mark. Documentation was goos a person came to resident and collected the document. I am yet to receive my home loan, I will get it in a week. Interest rate was 9.6% which is good. The processing fee is less than other banks. Customer â??s service was good.
      Was this review helpful? 0
      , thane
      Reviewed on Jun 22, 2015
    • HSBC Bank Home Loan
      "Good "
      0.5 5.0/5 "Blown Away!"
      I had a fantastic experience with HSBC while getting this home loan.The customer service provided was really good and the interest rate offered was around 9.75%.They donâ??t collect any hidden charges from the customer and they do value there customers which is appreciable.
      Was this review helpful? 0
      , thane
      Reviewed on May 28, 2015
    • HSBC Bank Home Loan
      "Good Experience!!"
      0.5 5.0/5 "Blown Away!"
      My experience with HSBC Bank was good for the home loan I have taken. The best part about the bank is that there is no processing fee charged and also the rate of interests charged was nominal. In addition to it their processing is very fast. My loan got disbursed within 7 to 10 days without any hassle.
      Was this review helpful? 1
      , pune
      Reviewed on Mar 19, 2015
    • HSBC Bank Home Loan
      "Faster approval!!"
      0.5 4.0/5 "Great!"
      I personally visited HSBC, through which a single executive was appointed, she was taking care of the whole home loan process. I would like to appreciate for the job done by Shruthi. I did like the TAT where I was able to get the approval of top up loan.
      Was this review helpful? 0
      , chennai
      Reviewed on Feb 05, 2015
    • HSBC Bank Home Loan
      "Satisfactory"
      0.5 5.0/5 "Blown Away!"
      As I hold my salary account with HSBC, it was faster approval done by HSBC. Documentation part would all be easier.Its 10.10% interest rate which is a competitive rate. Mostly, within few days, home loan gets disbursed. One of the best is the processing fees gets waived off.
      Was this review helpful? 1
      , mumbai
      Reviewed on Jan 27, 2015
    • HSBC Bank Home Loan
      "MELODY KHAV KHUD JAN JAV "
      0.5 5.0/5 "Blown Away!"
      I WRITE "MELODY KHAV KHUD JAN JAV " YES I HAVE TAKEN HOME LOAN FROM HSBC BANK AND THE SERVICE I RECEIVED FROM BANK IS REALLY DIL KHUS "SERVICE . WHAT YOU THINK THEY OFFER LIKE 5 STAR HOTEL MENU AND THAT TOO HOME SERVICE .. I 100 % RECOMMEND HSBC BANK FOR HOME LOAN AND BANK ACCOUNT ALSO .. SANJAY SHELAT
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Dec 24, 2014
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