HSBC Personal Line of Credit Reviews and Comparison - Seedly
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HSBC Personal Line of Credit

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Plans (2)

HSBC Personal Line of Credit (6 Month Tenure)

5.47%
EFFECTIVE INTEREST RATE
0%
FLAT INTEREST RATE
2.50%
PROCESSING FEE

HSBC Personal Line of Credit (12 Month Tenure)

4.88%
EFFECTIVE INTEREST RATE
0%
FLAT INTEREST RATE
0%
PROCESSING FEE

    HSBC Personal Line of Credit (6 Month Tenure)

    5.47%
    EFFECTIVE INTEREST RATE
    0%
    FLAT INTEREST RATE
    2.50%
    PROCESSING FEE

Details

About HSBC Personal Line of Credit

  • Lowest interest rate for a line of credit personal loan at 18.5%
  • Low annual fee of S$60, waived for the first year
  • Minimum income requirement of S$30,000
  • Credit limit of up to 4 to 8 times your monthly salary
  • Maximum credit limit is up to S$200,000
  • Minimum annual income requirement of S$30,000
  • Credit limit unattractive to foreigners
  • Cash loan, best suited for short-term borrowing needs

With a HSBC Personal Line of Credit, you can conveniently access cash within your credit limit for emergencies. It is a pay-as-you-use type of short term personal loan scheme. 

Read More about HSBC Personal Line of Credit
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Interest Rates for HSBC Personal Line of Credit

Categories of HSBC Customers

Interest Rate

Annual Fees

Premier

12%

Perpetually waived

Advance

16.5%

S$60 (First 2 years waived)

Revolution Credit Card

16.5%

S$60 (First 2 years waived)

Retail Banking

18.5%

S$60 (First year waived)

Applicant

Annual Income

Credit Limit

Singaporean / Singapore PR

Between S$30,000 and S$119,999

Up to 4X your monthly salary

Singaporean / Singapore PR

S$120,000 and above

Up to 8X your monthly salary

Foreigners

At least S$40,000

Up to 1X your monthly salary

Credit limits dependent on borrowers' annual income

Features: Pros and cons of HSBC Personal Line of Credit

  • Lowest interest rate for a line of credit personal loan at 18.5%
  • Low annual fee of S$60, waived for the first year or more depending on your HSBC account
  • Minimum income requirement of S$30,000
  • Credit limit of up to 4 to 8 times your monthly salary
  • Maximum credit limit is up to S$200,000
  • Minimum annual income requirement of S$30,000
  • Generally one of the best personal loan interest rates out there.

  • Credit limit might be unattractive to foreigners
  • Minimum income requirement at a high S$40,000 for self-employed and commission based applicants

  • More details on HSBC Personal Line of Credit here

Eligibility: who can apply for HSBC Personal Line of Credit

  • 21 - 65 years old
  • annual income of at least S$30,000 for Singaporeans and PR, or S$40,000 for self-employed or commission-based Singapore Citizens and Permanent Residents
  • annual income of at least S$40,000 for foreigners with an employment pass

Other Fees

  • Minimum monthly repayment: 3% of outstanding balance (or S$15, whichever is greater)
  • Annual fee: S$60, waived for at least the first year
  • Late payment fee: S$75

Contact HSBC Singapore

Tel: +65 64722 669 (+65 6-HSBC NOW )