HSBC Personal Loan
- Key Features
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Summary
HSBC Personal Loan
- Ideal for lump-sum one time borrowing needs
- HSBC's online exclusive promotional rates are very competitive.
- Best for applicants with annual income of at least S$80,000, and are keen on at least a 3 years loan.
- One of the lowest minimum annual income requirements for personal loans for foreigners at S$40,000
SingSaver Exclusive Promotion: Get an Apple iPhone 15 Pro 256 GB (worth S$1,825.75) / Dyson 360 Vis Nav™ robot vacuum (worth S$1,649) / Apple Bundle worth S$1057.30: Apple iPad 10th Gen 64GB (worth S$691.60) + AirPods Pro Gen 2 Bundle (worth S$386) / PlayStation 5 (Digital Version) (worth S$669) / Dyson V8 Slim Fluffy (worth S$509) / S$50 Cash via PayNow
• Applicable to both New and Existing Customers
• Submit an application for a personal loan and get approved to be eligible for the following:
- Loan amount of S$10k - S$19,999: Get S$50 Cash via PayNow
- Loan amount of S$20k - S$34,999: Get a Dyson V8 Slim Fluffy (worth S$509)
- Loan amount of S$35k - S$49,999: Get a PlayStation 5 (Digital Version) (worth S$669)
- Loan amount of S$50k - S$79,999: Get an Apple Bundle worth S$1057.30: Apple iPad 10th Gen 64GB (worth S$691.60) + AirPods Pro Gen 2 Bundle (worth S$386)
- Loan amount of S$80k - S$99,999: Get a Dyson 360 Vis Nav™ robot vacuum (worth S$1,649)
- Loan amount of S$100k or more: Get an Apple iPhone 15 Pro 256 GB (worth S$1,825.75)
• Not Stackable with HSBC BAU rewards
• Promotion period: 1 March - 1 May 2024
• Terms and Conditions apply
Product Page Transparency
- Pays to access additional features
Loan Features & Details
1) Key Features
- Interest rate: 3.6% p.a onwardsÂ
- Effective interest rate: From 6.5% onwardsÂ
- Loan tenure period from a minimum of 1 year to a maximum of 7 years
- Quick in-principle approval for online applicationsÂ
2) Eligibility
- Citizenship: Singaporean or PRs only
- Age: 21-65 years old
- Minimum income requirement: S$30,000 per annum
3) Fees
- Processing fee: 1% of approved installment plan amount, or a minimum of S$88
- Late repayment fee: S$75
- Early repayment fee: 2.5% of redemption amount
4) Application Process
How to apply?
- Apply online through HSBC’s website or via online banking
- Apply via SMS. A HSBC customer service officer will contact you within three working days
- Apply via phone. A HSBC customer service officer will be in touch within three working days
5) Supporting Documents
- NRIC (front and back)
- Salaried employees: 3 months payslip, or latest Income Tax Notice of Assessment with 1 month payslip, or latest 6 months CPF statement
- Self-employed persons: Last 2 years of Income Tax Notice of Assessment
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Summary
HSBC Personal Loan
- Ideal for lump-sum one time borrowing needs
- HSBC's online exclusive promotional rates are very competitive.
- Best for applicants with annual income of at least S$80,000, and are keen on at least a 3 years loan.
- One of the lowest minimum annual income requirements for personal loans for foreigners at S$40,000
SingSaver Exclusive Promotion: Get an Apple iPhone 15 Pro 256 GB (worth S$1,825.75) / Dyson 360 Vis Nav™ robot vacuum (worth S$1,649) / Apple Bundle worth S$1057.30: Apple iPad 10th Gen 64GB (worth S$691.60) + AirPods Pro Gen 2 Bundle (worth S$386) / PlayStation 5 (Digital Version) (worth S$669) / Dyson V8 Slim Fluffy (worth S$509) / S$50 Cash via PayNow
• Applicable to both New and Existing Customers
• Submit an application for a personal loan and get approved to be eligible for the following:
- Loan amount of S$10k - S$19,999: Get S$50 Cash via PayNow
- Loan amount of S$20k - S$34,999: Get a Dyson V8 Slim Fluffy (worth S$509)
- Loan amount of S$35k - S$49,999: Get a PlayStation 5 (Digital Version) (worth S$669)
- Loan amount of S$50k - S$79,999: Get an Apple Bundle worth S$1057.30: Apple iPad 10th Gen 64GB (worth S$691.60) + AirPods Pro Gen 2 Bundle (worth S$386)
- Loan amount of S$80k - S$99,999: Get a Dyson 360 Vis Nav™ robot vacuum (worth S$1,649)
- Loan amount of S$100k or more: Get an Apple iPhone 15 Pro 256 GB (worth S$1,825.75)
• Not Stackable with HSBC BAU rewards
• Promotion period: 1 March - 1 May 2024
• Terms and Conditions apply
Product Page Transparency
- Pays to access additional features
Loan Features & Details
1) Key Features
- Interest rate: 3.6% p.a onwardsÂ
- Effective interest rate: From 6.5% onwardsÂ
- Loan tenure period from a minimum of 1 year to a maximum of 7 years
- Quick in-principle approval for online applicationsÂ
2) Eligibility
- Citizenship: Singaporean or PRs only
- Age: 21-65 years old
- Minimum income requirement: S$30,000 per annum
3) Fees
- Processing fee: 1% of approved installment plan amount, or a minimum of S$88
- Late repayment fee: S$75
- Early repayment fee: 2.5% of redemption amount
4) Application Process
How to apply?
- Apply online through HSBC’s website or via online banking
- Apply via SMS. A HSBC customer service officer will contact you within three working days
- Apply via phone. A HSBC customer service officer will be in touch within three working days
5) Supporting Documents
- NRIC (front and back)
- Salaried employees: 3 months payslip, or latest Income Tax Notice of Assessment with 1 month payslip, or latest 6 months CPF statement
- Self-employed persons: Last 2 years of Income Tax Notice of Assessment
Plans (5)
đź“Ł SIGN-UP BONUS
Receive an Apple iPhone 15 Pro or Dyson 360 Vis Nav™ Robot Vacuum or Apple iPad 10 + AirPods Pro 2 bundle or Sony PlayStation® 5 Digital Edition or Dyson V8 Slim Fluffy or S$50 Cash!
Valid till 01 May 2024. T&Cs apply.
4.0
2 Reviews
High to Low
Posted 01 Dec 2023
Purchased
HSBC Personal Loan (1 Year Tenure)
HSBC Personal Loan Ideal for lump-sum one time borrowing needs HSBC's online exclusive promotional rates are very competitive. Best for applicants with annual income of at least S$80,000, and are keen on at least a 3 years loan. One of the lowest minimum annual income requirements for personal loans for foreigners at S$40,0000
What are your thoughts?26 Jun 2020
Purchased
HSBC Personal Loan (4 Year Tenure)
[Application] Smooth application process with MyInfo and uploading of documents to HSBC’s website for additional verification purposes. [Flat Interest Rate] One of the best in the market at 3.7% [Savings Account & Debit Card] You will automatically be attached with a HSBC account. Unfortunately, the debit card never managed to reach my mailbox despite calling the customer service team to verify my address and request for card to be resend.0
What are your thoughts?
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Tenor (years) | Equivalent Flat Interest Rate (p.a.) | Applied/Effective Interest Rate (p.a.) |
|---|---|---|
1 - 7 | 4.8% | 9% |
For applicants with annual income of at least S$80,000.
Tenor (years) | Equivalent Flat Interest Rate (p.a.) | Applied/Effective Interest Rate (p.a.) |
|---|---|---|
1 - 2 | 4.8% | 9% |
3-7 | 3.7% | 7% |
Features & Benefits:
+ One of the lowest interest rates from 3.2% p.a (EIR 6% p.a) for those earning min. S$30,000 annually. Rates provided are customised and might differ from what’s displayed here.
+ No processing fees
+ Get a 1-minute in-principle approval on your HSBC Personal Loan
+ Max. loan amount equal to 90/95% of approved credit limit at time of application
+ Min. loan amount of S$1,000
+ Option to borrow at a slightly longer loan tenure of 7 years
- Early repayment fee: 2.5% of the repayment amount
- Overdue interest: 2.5% + prevailing interest on overdue amount
- Late payment fee: S$75 for each monthly repayment that is not received in full by the monthly due date
More details on HSBC Personal Loan
Eligibility: who can apply for HSBC Personal Loan
- Between 21 and 65 years of age
- Annual income of S$30,000 for salaried or S$40,000 for self-employed or commission-based Singapore Citizens and Permanent Residents
- Annual income of at least S$40,000 and employment pass with validity of at least 1 year for foreigners
Other Fees
- Minimum monthly repayment: 1% of approved loan amount (or S$88, whichever is greater)
- Early repayment fee: 2.5% of the redemption amount
- Overdue interest: 2.5% + prevailing interest on overdue amount
- 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.