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  • HSBC Personal Loan

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  • Personal loan from HSBC Bank is offered at attractive interest rates starting from 10.99% p.a.

    • Loan amount of up to Rs.30 lakh 
    • Quick approval and disbursal of loan
    • Repayment tenure of up to 5 years
    • Minimal documentation process
    More

    HSBC Personal Loan Overview 

    Interest Rate Loan Amount Processing Fee
    Between 10.99% p.a and 17.84% p.a   Minimum: Rs.75,000  Maximum: Rs.15 lakh  1% of the loan amount availed by the customer 
    *(Up to Rs.30 lakh for select customers only according to the internal credit policy of the bank)
    *Customers of HSBC Bank residing in Bengaluru, Chennai, Cochin, Hyderabad, Coimbatore, Ahmedabad, Kolkata, New Delhi, Pune, Mumbai, Jaipur, Chandigarh and Vizag (HSBC employees only), can apply for a  Personal loans.

    Documents required for HSBC Bank Personal Loan 

    • Duly-filled application form that has been attested by the applicant.  
    • 1 recent passport size photograph.  
    • Proof of identification - Passport, Voter ID card, Permanent driving license, Government Employee ID card, PAN card, Defence ID card, ration card, Aadhaar card, or NREGA card.  
    • Proof of residence - Passport, Society Outgoing Bill, Voter ID card, Electricity or water bill, Permanent driving license, Gas bill, Government Employee ID card, PAN card, Defence ID card, ration card, Aadhaar card, or NREGA card. 
    • Proof of age - Passport, driving license, PAN card, School leaving certificate, or Birth Certificate.  
    • Latest salary slips or Form 16.  
    • Salary account statements of the last 3 months.

    For self-employed individuals

    • Audited financial statements or balance sheet, Income Tax returns of the last 2 years and bank statements of the last 6 months of the primary bank account of the applicant. 
     

    Why choose HSBC Bank personal loan? 

    • HSBC personal loan comes with a maximum repayment tenure of 5 years. So, customers have the choice of flexible tenure starting from 6,12,18,24,30,36,42,48,54 or 60 months. 
    • Flexible EMI (equated monthly installment) options through bank account Standing Instructions. Customer can also choose the ECS (Electronic Clearing System) to repay their personal loan. 
    • Does not require a guarantor. 
    • Quick processing, documentation, and disbursal process. 
    • Loan transfer from any other bank to HSBC. 
     

    What are the eligibility criteria for HSBC Bank Personal Loan? 

    • The applicant should be a resident of India and preferably working in a corporate organisation. 
    • The applicant should be a minimum of 21 years old and a maximum of 60 years old in the case of salaried individuals and 65 years old and self-employed individuals.  
    • To apply for an HSBC Bank personal loan, under the Corporate Employee Programme, the minimum net income p.a. should be Rs.4 lakh, and the minimum net income p.a. for other customers should be Rs.5 lakh. 
    Age  Salaried individuals: 21 years to 60 years  Self-employed individuals: 21 years to 65 years 
    Employment Status  Salaried individuals and self-employed individuals 
    Citizenship  Resident citizen of India 
    Minimum Net Salary  Rs.4 lakh - Rs.5 lakh p.a. 
     

    Fees and Charges 

    Schedule of charges
    Processing Fee 1% of the disbursed loan amount 
    Foreclosure or prepayment charges Up to 3.75% of the principal outstanding amount. 
     

    How the EMI calculation for HSBC Bank personal loan work? 

    Let’s assume that Mrs.Vandana avails a personal loan from HSBC Bank for Rs.1 lakh at an interest rate of 11% p.a. Listed below in the table is the EMI breakup over 12 months, taking into consideration the principal amount as well as the interest applicable over the loan amount.

    Months  Principal amount (A)  Interest (B)  Total (A+B)  Balance amount  Loan percentage paid till date 
    Apr  Rs.7,921  Rs.917  Rs.8,838  Rs.92,079  7.92% 
    May  Rs.7,994  Rs.844  Rs.8,838  Rs.84,084  15.92% 
    Jun  Rs.8,067  Rs.771  Rs.8,838  Rs.76,017  23.98% 
    Jul  Rs.8,141  Rs.697  Rs.8,838  Rs.67,876  32.12% 
    Aug  Rs.8,216  Rs.622  Rs.8,838  Rs.59,660  40.34% 
    Sep  Rs.8,291  Rs.547  Rs.8,838  Rs.51,368  48.63% 
    Oct  Rs.8,367  Rs.471  Rs.8,838  Rs.43,001  57.00% 
    Nov  Rs.8,444  Rs.394  Rs.8,838  Rs.34,557  65.44% 
    Dec  Rs.8,521  Rs.317  Rs.8,838  Rs.26,036  73.96% 
    Jan  Rs.8,600  ₹230  Rs.8,838  Rs.17,436  82.56% 
    Feb  Rs.8,678  ₹160  Rs.8,838  Rs.8,758  91.24% 
    Mar  Rs.8,758  ₹80  Rs.8,838  Rs.0  100.00% 

    Based on the amortisation table, Mrs.Vandana will have to pay a monthly EMI of Rs.8,838 for a span of 12 months to clear the personal loan of Rs.1 lakh.

     

    How HSBC Personal Loan compares with other personal loans? 

    Particulars  HSBC Personal loan  Bajaj Finserv Personal Loan  Citibank Personal Loan  SBI Personal Loan 
    Interest rate   10.99% p.a and 17.84% p.a  10.99% p.a. to 17.84% p.a.  10.99% p.a. to 18.00% p.a.  12.00% p.a. onwards 
    Processing fee  Up to 1% of the loan amount  Up to 3.99% of the loan amount  2.00% to 3.00% of the loan amount  1% + GST 
    Foreclosure charges  Up to 3.75% of the outstanding principal amount  4% + applicable taxes on the outstanding principal amount  Nil  3% of the outstanding loan amount 
     

    FAQs on HSBC personal loan

    Where will I receive the personal loan amount once the loan has been approved? Will I receive all the money at once? 

    Following the submission of the application form and the relevant documents, the customer will receive the disbursed loan amount in the bank account he/she has mentioned in the personal loan application form.

    Yes, when the personal loan money is disbursed, you will receive the entire amount that you have applied for as there is no partial disbursement for HSBC Bank personal loans. 

    What factors are taken into consideration when the EMIs (Equated monthly installments) are calculated by HSBC Bank? 

    When calculating the EMI which is basically the monthly repayment of the loan, HSBC Bank takes into consideration the interest rate applicable over the loan amount and the principal loan amount divided by the repayment tenure chosen by the customer. The interest rate will depend on the repayment tenure chosen by the customer. The longer the repayment tenure chosen by the customer, the higher will be the interest rate set by HSBC Bank. 

     What will happen if I miss my EMI payment? Which is the best way to avoid missing my EMI payment? 

    If you do miss your EMI payment by the due date, then your credit rating will be affected, and other credit facilities of HSBC Bank will be affected as well. In addition, HSBC Bank might initiate a recovering proceeding for late payment charges. 

     Is it possible to pre-close an HSBC Bank personal loan? How will I know if the loan is actually closed by the bank once I have pre-closed the loan? Can I make a partial pre-payment towards my personal loan? 

    Yes, you can pre-close an HSBC Bank personal loan one year from the date of disbursement of the loan. Customers that do not know, personal loan pre-closure is basically when the customer decides to repay the loan before the set repayment tenure of the personal loan. For pre-closures, HSBC Bank charges up to 3.75% of the outstanding principal amount of the personal loan. 

    If the customer chooses to pre-close the loan or when the loan is completely paid back to HSBC Bank, the bank will issue a No Due Certificate to the customer to confirm that the personal loan has been closed. 

    HSBC Bank allows partial prepayments for personal loans up to 20% of the original disbursed amount. The customer can make 2 partial prepayments in a year and this can be done only after one year since the loan has been disbursed. You can choose to reduce the EMI amount after the partial pre-closure of the loan. The customer will have to visit the bank branch to make the EMI changes.

    What are the most probable EMI due dates that will be set by HSBC Bank? 

    The EMI due date will depend on the disbursal date of the personal loan. Usually, the EMI due date will be set between the 5th and the 15th of each calendar month.  

    What is the maximum loan amount offered by HSBC bank?

    The maximum loan amount that can be availed by a customer is Rs.15 lakh with Rs.75,000 being the minimum loan amount that can be availed from HSBC Bank. That said, HSBC Bank offers personal loans up to Rs.30 lakh for select customers only, based on their internal credit policy. 

    Other important terms and conditions you should know

    • The interest rate of the personal loan depends on the repayment tenure chosen by the customer.  
    • In the case of personal loans, customers can choose prepayment of the loan after 12 months from the date of disbursement of the loan.  
    • The EMI due date will be between the 1st and 15th of every month. Personal loans disbursed between the 1st and 15nth of the month, the EMI due date will be set on the 5th of the following calendar months. In the case of personal loans disbursed between the 15th and the 31st of the month, the EMI due date will be set on the 15th of the following calendar months.

        

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    HSBC Personal Loan Reviews

    • HSBC Bank Personal Loan
      "Good"
      0.5 4.0/5 "Great!"
      I have taken a personal loan with HSBC bank on 2 months before which was processed through bank directly. Within 2 to 3 days they have sanctioned the loan once all the verification done. The loan was sufficient for the tenure period of 2 years. The rate of interest was nominal.
      Was this review helpful? 0
      , bangalore
      Reviewed on Sep 19, 2019
    • HSBC Bank
      HSBC Bank Personal Loan
      "Need to focus on the service part"
      0.5 4.0/5 "Great!"
      Before 10 years I took the personal loan from HSBC for the principal amount of Rs. 1.5 lakh for the duration of three years but I done the settlement. However the bank have charged some fee based on the outstanding, finally I got the NOC letter. But I felt the support is lacking from their end.
      Was this review helpful? 0
      , bangalore
      Reviewed on Aug 23, 2019
    • HSBC Bank Personal Loan
      "Good and quick process"
      0.5 5.0/5 "Blown Away!"
      HSBC has also provided me with a personal loan. I received the loan in two days. The process is very convenient. The rate of interest is nominal, it was of 10.75%. The customer support and response is good and the after loan services are good too overall.
      Was this review helpful? 1
      , pune
      Reviewed on Jul 29, 2019
    • HSBC Bank Personal Loan
      "GOOD"
      0.5 4.0/5 "Great!"
      I have been using the personal loan from last 1.5 years, The documentation process has been done, i got the loan within few days. The loan amount given was sufficient, the rate of interest was 11.5%, the duration for repaying the loan was 5 years. The customer service is good.
      Was this review helpful? 1
      , ahmedabad
      Reviewed on Jul 24, 2019
    • HSBC Bank Personal Loan
      "Excellent"
      0.5 4.5/5 "Excellent!"
      I have taken a personal loan in HSBC bank more than a month which was processed directly to bank. The process was smooth and loan got sanctioned on time. The amount was sufficient for the tenure of 4 years. The rate of interest and fee are nominal for 10.9%.
      Was this review helpful? 2
      , thane
      Reviewed on Jul 16, 2019
    • HSBC Bank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have been using my personal loan with HSBC bank from long time, the loan amount was sufficient, like based on my requirement they have given me loan amount, they have given me up to 7,50,000 which was sufficient, the rate of interest was bit high comparing to other bank they have charged me up to 13% which was okay for me ,they have charged me 1% processing fee, i have closed this loan after giving for-closure charges up to 1% on loan.
      Was this review helpful? 1
      , bangalore
      Reviewed on Jun 30, 2019
    • HSBC Bank Personal Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      I took a personal loan with HSBC BANK and have completed the loan long back. The interest rate was okay and got Noc letter immediately. They have not charged me a processing fee and taken 5L for the duration of 3 years. The process was good. I had foreclose the loan after 2 years.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 10, 2019
    • HSBC Bank Personal Loan
      "AVERAGE"
      0.5 2.0/5 "Expected more"
      I am not satisfied with the HSBC BANK personal loan as the loan amount given with this bank was good but i have requested for pre closer and they have not co operated with this loan. I am using from last 2016 also the rate of interest was approximately 2% on outstanding amount is applicable.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 08, 2019
    • HSBC Bank Personal Loan
      "Good people"
      0.5 3.0/5 "Satisfactory"
      I have not submitted my documents for my HSBC personal loan. Their interest rates are nominal. I never interacted with the HSBC people regarding this loan. Their interest rates are almost same like other banks actually the agent people has approached me for the personal loan.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 08, 2019
    • HSBC Bank Personal Loan
      "Should be prompt"
      0.5 3.5/5 "Pretty good"
      HSBC is not clear in the communication of loan product, initially when I applied for the loan they told there is no processing fee but they taken charges from the disbursement of Rs. 5 lakhs. I am very much disappointed with their service and conversation.
      Was this review helpful? 1
      , bangalore
      Reviewed on May 24, 2019
    • HSBC Bank Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have been using personal loan with HSBC bank from long time, their service is good, the loan amount which they have given to me was sufficient, the rate of interest they have charged me up to 11% which was nominal, even they charged nominal processing fee, so far the loan came on time, still the loan is running.
      Was this review helpful? 0
      , ghaziabad
      Reviewed on May 21, 2019
    • HSBC Bank Personal Loan
      "Fast service"
      0.5 4.5/5 "Excellent!"
      The personal loan process was quick and smooth with HSBC, the interest rate is little less than others I think 0.5% is lower. I took Rs. 3 lakhs for the duration of 4 years. They do have balance transfer, there was some processing fee it was minimal.
      Was this review helpful? 4
      , mumbai
      Reviewed on May 15, 2019
    • HSBC Bank Personal Loan
      "Loan process is smooth"
      0.5 4.5/5 "Excellent!"
      HSBC has offered me a personal loan. The customer services and response is good. The process to get the loan was smooth and easy. The rate of interest and processing charges is also nominal for me. The after loan services are good and on time. I got the loan as needed.
      Was this review helpful? 0
      , chennai
      Reviewed on Apr 17, 2019
    • HSBC Bank Personal Loan
      "Loan process is good"
      0.5 5.0/5 "Blown Away!"
      I have taken my personal loan from HDFC Bank and the banking service are good. The customer support and response is also satisfactory; I receive the loan on time. I have no hassles on the rate of interest and processing charges. Overall no issues.
      Was this review helpful? 0
      , mumbai
      Reviewed on Apr 16, 2019
    • HSBC Bank Personal Loan
      "Understand the value of the customer ."
      0.5 4.0/5 "Great!"
      In HSBC , I took a personal loan few months back . I got a good support at that time . But Now my EMI is deducted every month of 15 th . To change the date from 15th to 5th for my EMI. Even for that, some fees has to be paid to HSBC . This is something fair for the customers who pays the regular EMI without any failure .
      Was this review helpful? 0
      , noida
      Reviewed on Apr 03, 2019
    • HSBC Bank Personal Loan
      "GOOD"
      0.5 4.0/5 "Great!"
      I have taken the personal loan with the HSBC BANK the documentation process was smooth but it took time to get the loan. They have offered with the satisfactory loan amount but the rate of interest was 12.8% which was nominal comparable to others.
      Was this review helpful? 0
      , bangalore
      Reviewed on Apr 01, 2019
    • HSBC Bank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      The loan was provide on time and the documentation was collected on time too. I received the loan amount as expected. My personal loan was taken with HSBC BANK . My requirement got fulfilled with HSBC bank,, the interest rate is same what they have committed. Overall the experience is good .
      Was this review helpful? 0
      , pune
      Reviewed on Mar 13, 2019
    • HSBC Bank Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have been holding personal loan with HSBC bank,The loan amount which they have given me was sufficient, the rate of interest which they have given me up to 10.99% that was nominal,i have taken this loan for1 years,i paid 3 installment for 9 months i need to pay.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Mar 05, 2019
    • HSBC Bank Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have been holding personal loan with HSBC bank,the loan amount which they have given me was sufficient,they have given me up to 1,35,000 it was sufficient for me, and the rate of interest they have charged me was nominal,and even they have charged nominal processing fee, i have taken this bank loan from past 6 months only.
      Was this review helpful? 1
      , kolkata
      Reviewed on Feb 27, 2019
    • HSBC Bank Personal Loan
      "GOOD"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan with the HSBC BANK they have given the loan amount which is satisfactory added on that the rate of interest is lower when compared to the others. The duration for repaying the loan is for one year. It is a good loan to use.
      Was this review helpful? 1
      , bangalore
      Reviewed on Feb 27, 2019
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