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Personal Loans/HSBC Personal Line of Credit
Personal Loans/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
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Popular Products

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

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      Popular Products

      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.

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