HSBC Personal Line of Credit
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Summary
HSBC Personal Line of Credit
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.
Loan Features & Details
1) Key Features
- Instant loan approval
- Interest rate of 12.0% p.a for HSBC Premier customers and 20.9% p.a for HSBC Personal Banking customers
- Minimum repayment amount of 3.0% of outstanding loan amount or S$15, whichever is higher
- Maximum credit limit dependent on annual income and capped at S$200,000
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2) Eligibility
- Citizenship: Singaporeans, PRs, Foreigners
- Age: 21 – 65 years old
- Minimum income requirement:
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3) Fees
- Late payment fee: S$75
- Annual fee: Perpetually waived for HSBC Premier customers; S$60 for Retail Banking customers (first year waived)
4) Application Process
How to apply?
- Head to HSBC’s website to apply for the loan online
- Complete and submit loan application
Supporting documents
- Refer to HSBC’s website for the full list of supporting documents to prepare
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Summary
HSBC Personal Line of Credit
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.
Loan Features & Details
1) Key Features
- Instant loan approval
- Interest rate of 12.0% p.a for HSBC Premier customers and 20.9% p.a for HSBC Personal Banking customers
- Minimum repayment amount of 3.0% of outstanding loan amount or S$15, whichever is higher
- Maximum credit limit dependent on annual income and capped at S$200,000
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2) Eligibility
- Citizenship: Singaporeans, PRs, Foreigners
- Age: 21 – 65 years old
- Minimum income requirement:
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3) Fees
- Late payment fee: S$75
- Annual fee: Perpetually waived for HSBC Premier customers; S$60 for Retail Banking customers (first year waived)
4) Application Process
How to apply?
- Head to HSBC’s website to apply for the loan online
- Complete and submit loan application
Supporting documents
- Refer to HSBC’s website for the full list of supporting documents to prepare
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
0.0
0 Reviews
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Popular Products
4.4
17 Reviews
3.0
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5.0
1 Reviews
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 )
Contact us at [email protected] should you require any assistance or spot any inaccuracies.