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HSBC Bank Personal Loan – Apply Online 2024
Being one of the largest banking and financial services organizations in the world, HSBC is undoubtedly one of the best banks in the world. This renowned bank comprises an international network with having around 6,000 offices in over 71 countries and many territories.
Established in the year 1865, today, this bank serves more than 47 million customers through this global businesses. In fact, the bank with its active contribution in the Indian banking industry is also known for giving India its first ATM in 1987. When it comes to retail banking, the bank is here with its unmatched and flexible personal loans. Yes, the bank caters all your personal needs with its best-in-class personal loans. So, if you are interested in buying HSBC bank personal loan, read this article below.
HSBC Bank Personal Loan Interest Rates 2024
| Particulars | Details |
|---|---|
| Interest Rates | 9.75% - 16.00% |
| Loan Amount | INR 75,000 - INR 30 lakh |
| Repayment | 12 months-60 months |
| Processing Fee | Up to 1% of the loan amount |
| Prepayment Charges | Up to 3.75% of the principal outstanding |
HSBC Bank Personal Loan EMI Calculator
Suppose, you are interested in availing a loan of INR 3,00,000 from HSBC Bank for 5 years at the rate of 11.29% per annum than your EMI will be as follows. For your reference, below is the table, showing you detailed calculation of your loan amount each year.
Table Showing EMI, Interest Outgo, and Total Repayment Amount
| LOAN AMOUNT | INTEREST RATE | TENURE | MONTHLY INSTALMENT | TOTAL INTEREST AMOUNT | TOTAL AMOUNT |
|---|---|---|---|---|---|
| ₹ 3,00,000 | 11.29% | 1 | ₹ 26,555 | ₹ 18,661 | ₹ 3,18,661 |
| ₹ 3,00,000 | 11.29% | 2 | ₹ 14,023 | ₹ 36,547 | ₹ 3,36,547 |
| ₹ 3,00,000 | 11.29% | 3 | ₹ 9863 | ₹ 55,063 | ₹ 3,55,063 |
| ₹ 3,00,000 | 11.29% | 4 | ₹ 7796 | ₹ 74,207 | ₹ 3,74,207 |
| ₹ 3,00,000 | 11.29% | 5 | ₹ 6566 | ₹ 93,972 | ₹ 3,93,972 |
EMI, Total Interest Outgo, Total Repayment (Interest + Principal)
| YEAR | PRINCIPAL | INTEREST | BALANCE AMOUNT |
|---|---|---|---|
| 1 | ₹ 47,323 | ₹ 31,471 | ₹ 2,52,676 |
| 2 | ₹ 52,951 | ₹ 25,843 | ₹ 1,99,724 |
| 3 | ₹ 59,249 | ₹ 19,545 | ₹ 1,40,475 |
| 4 | ₹ 66,295 | ₹ 12,499 | ₹ 74,180 |
| 5 | ₹ 74,241 | ₹ 4614 | ₹ 0 |
HSBC Bank Personal Loan Eligibility
To avail the personal loan in HSBC Bank, you need to fit into the below eligibility criteria.
- Applicant must be existing HSBC customer
- Applicant should be an Indian resident
- The minimum age of the Applicant should be 21 years
- The maximum age of the Applicant at loan maturity should be 58 years for salaried and 65 years for the self employed
- The minimum net annual income should be INR 400,000 p.a. and above for Corporate Employee Programme and INR 500,000 and above for other customers
Documentation Required
Next, thing on which you need to pay attention is the documentation required to get the personal loan in this bank.
| For Salaried | For Self-Employed |
|---|---|
| Proof of identity: Passport/ voter's id/driving licence/ government employee ID card /defence ID card /PAN card/ aadhar card/ Photo ration card/ NREGA job card | Proof of identity: Passport/ voter's id/driving licence/ government employee ID card /defence ID card /PAN card/ aadhar card/ Photo ration card/ NREGA job card |
| Proof of residence:Passport/ voter's id/driving licence/ ration card/ society outgoing bill/ electricity/water/telephone bill/ gas bill/property tax bill/domicile certificate with address issued by municipal corporation/registered rent/lease agreement | Proof of residence:Passport/ voter's id/driving licence/ ration card/ society outgoing bill/ electricity/water/telephone bill/ gas bill/property tax bill/domicile certificate with address issued by municipal corporation/registered rent/lease agreement |
| Proof of age:Passport/driving license/birth certificate/ photo PAN card/ school leaving certificate | Proof of age:Passport/driving license/birth certificate/ photo PAN card/ school leaving certificate |
| Financial documents: Latest salary slip showing statutory deductions/ form 16 (Declaration from employer giving details of income and deductions, duly signed by an authorised signatory of the company) and salary account statements for the last 3 months | Financial documents: Audited/ certified financials (P&L account and balance sheet) and acknowledged IT returns for the last 2 years and bank statement of the primary account for the last 6 months |
Features and Benefits
- Best in class interest rates: You can have the most affordable interest rate ranging from 9.75% - 16.00%. You can get this loan for wedding expenses, purchasing consumer durables and equipment required for business, or renovation of the home.
- Simple documentation: Submit your KYC, address or income proof with the loan application form and get the advantage of easy access to fund.
- Quick processing & Disbursal:The loan is processed with a fee of 1% of the loan amount. When you pay the processing fee it will take up to 15 days for the loan approval. And the loan is disbursed in your account after the bank approves the loan.
- Enjoy the convenience of doorstep service: To get the benefit of easy and hassle free loan processing, there is doorstep service available for the customers. As a part of this offering, a bank representative comes to your home or office address and completes the formalities.
- No requirement of collateral/guarantor: There is no need of a collateral or guarantor for getting the loan. The loan gets approved based on your income and repayment capacity.
- Easy monthly repayment: You have 5 years to pay the borrowed amount. The tenure can be from 6 months to 60 months depending on your repayment capacity.
- Transfer of an existing personal loan from another bank in India:The user who is having an existing loan can also get the benefit of HSBC Bank personal loan interest rate. But before doing so, check the difference of interest rate. If the difference is more than 3%-4%, you can transfer the loan and save on your EMI and interest outgo.
You can also calculate Personal loan EMI for your required loan amount at Wishfin.
HSBC Bank Personal Loan Customer Care Contact Number
In case you want to get in touch with the bank, you can easily do so by dialing the toll-free number of the bank. Yes, you just need to dial-1800 103 4722 and can easily register any complaint, query or a feedback in the bank. The bank with its customer care executives is always ready to serve you. No matter what sort of issues you are facing, these experts will be more than happy to meet your requirements.
HSBC Bank Personal Loan Online Apply
When it comes to applying for HSBC Bank Personal Loan, you can easily apply online for the same. Yes, you can apply for your personal loan online within few minutes, without any hassle. This online process is simple and quick and allows you to avail the personal loan without any worries.
HSBC Bank Personal Loan Application Status
If you want to know the application status of your personal loan in HSBC Bank, it is absolutely easy to know the same. You just need to login the site with your user id and password and by doing so, you can easily track or know the current status of your personal loan application.
HSBC Bank Personal Loan Online Application
Now its easy, quick and convenient for you to process your personal loan application online with HSBC Bank. Yes, with the online facility provided by the bank, you can easily fill and submit your personal loan application within few minutes. With the help of this, you don’t have to visit the bank and wait for your turn in the long ques.
