About HSBC

Headquartered in London, HSBC is one of the largest banking and financial corporations all over the world. The group has established an international network of 10,000 offices in 76 countries. HSBC specializes in a comprehensive range of financial services, such as loans, mortgages, saving accounts and credit cards.

Both fixed and flexible loans are available. A fixed loan has a fixed rate of interest for the entire lifetime of the loan while the interest rate of a flexible rate fluctuates with the market conditions. The prerequisite of applying for a HSBC Unsecured personal loan is that the applicant has to be an account holder.

Features of HSBC Personal Loans

Only people with a good credit history are eligible to apply for HSBC personal loans. The low APR has made HSBC one of the cheapest and most welcomed providers of personal loans. No matter you make your efforts to raise your child, or start your own business, HSBC personal loans are the fast and flexible way to get extra money you need because of their benefits.

  • 1. You can borrow the money which is up to four times as your salary and up to $100, 000.
  • 2. Personal loans require you to make fixed repayments one time each month.
  • 3. Personal loans don’t need guarantor or collateral. The application process will be easy, smooth and hassle-free.
  • 4. Loan tenor available ranges from 1 year to 7 years. You enjoy the flexibility to choose a repayment period according to your needs. If you want to extend your loan tenor, you should manage your loan well and make an equal monthly repayment.
  • 5. HSBC personal loans offer affordably low interest rates. According to your loan amount and loan tenor, people who make use of the entire suite of HSBC banking service will benefit from a low APR and further interest rate discounts. HSBC advance customers will have 11% APR every year while HSBC premier customers are given a 10% rate. All the loan applications will be charged a processing fee of $88.

Tips for application procedure

It’s necessary for you to know how the process works before you is determined to apply for a personal loan from HSBC Bank. The more you get to know, the more you are able to benefit from it.

Collect information and discuss with HSBC manager. Try to search all useful information about the target loan you need. If you don’t know what you need on earth, you’re suggested to talk to bank advisor, who will help you to find out your needs, decide loan type and repayments options. Then hand in your application.

The bank will evaluate your financial situation, check your ability to make equal monthly repayments and tell you by letter whether your loan application gets approved or not.

You should read the approval letter carefully which covers all the details of your future obligations. For these terms you’re not sure about, ask your bank manager or consult a solicitor or an accountant. Only when you make clear all the information listed on the letter, you are able to sign this letter and sometimes other documents.

After a short period when the bank processes the deal, the money will be drawn down to your HSBC bank account.

You’re required to make an automatic payment scheme. Therefore, as long as you make sure there’s enough money in your account each month, the repayment will be debited directly from your account on time.

HSBC Official Website: http://www.hsbc.com

Read Also:

How to Take Mortgage Loans from HSBC

With its headquarters located in London, United Kingdom, HSBC serves nearly 95 million customers through its international network which comprises over 7,500 offices in more than 80 countries across Africa, Asia, Europe, North America and South America. This global banking and financial services company provides a comprehensive range of products tailored to your needs and budgets.

This web site is not affiliated with HSBC. We recommend HSBC official site for more accurate information of its financial services.