HSBC Personal Loan Reviews and Comparison - Seedly
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HSBC Personal Loan

  • Overview
  • Reviews (1)
  • Questions (0)
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Plans (5)

Slide 1 of 5
  • HSBC Personal Loan (1 Year Tenure)

    7%
    EFFECTIVE INTEREST RATE
    3.70%
    FLAT INTEREST RATE
    1% of principal amount, subjected to min. of S$88
    PROCESSING FEE
  • HSCB Personal Loan (2 Year Tenure)

    7%
    EFFECTIVE INTEREST RATE
    3.70%
    FLAT INTEREST RATE
    1% of principal amount, subjected to min. of S$88
    PROCESSING FEE
  • HSBC Personal Loan (Year 3 Tenure)

    7%
    EFFECTIVE INTEREST RATE
    3.70%
    FLAT INTEREST RATE
    1% of principal amount, subjected to min. of S$88
    PROCESSING FEE
  • HSBC Personal Loan (4 Year Tenure)

    7%
    EFFECTIVE INTEREST RATE
    3.70%
    FLAT INTEREST RATE
    1% of principal amount, subjected to min. of S$88
    PROCESSING FEE
  • HSBC Personal Loan (5 Year Tenure)

    7%
    EFFECTIVE INTEREST RATE
    3.70%
    FLAT INTEREST RATE
    1% of principal amount, subjected to min. of S$88
    PROCESSING FEE

    HSBC Personal Loan (1 Year Tenure)

    7%
    EFFECTIVE INTEREST RATE
    3.70%
    FLAT INTEREST RATE
    1% of principal amount, subjected to min. of S$88
    PROCESSING FEE

Details

About HSBC Personal Loan

  • Flat interest rate from 3.7% - 4.8% p.a.
  • Effective interest rate (EIR) from as low as 7% - 9% p.a.
  • Fixed monthly repayment with the choice of 1 - 7 years tenure, with one of the longest loan tenures available in Singapore at 7 years
  • Applied Interest Rate (net processing fee) is calculated on the loan amount by a reducing balance method
  • 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
  • Enjoy S$108 cashback and $0 processing fee as a sign up gift
Read More about HSBC Personal Loan
Reviews (1)

4.0

1 Reviews

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  • Updated on 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.
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Promotional Interest Rates for HSBC Personal Loan

For applicants with annual income of less than S$80,000

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: Pros and cons of HSBC Personal Loan

  • Flat interest rate from 3.7% - 4.8% p.a.
  • Effective interest rate (EIR) from as low as 7% - 9% p.a.
  • Fixed monthly repayment with the choice of 1 - 7 years tenure
  • Longest loan tenure available at 7 years
  • Enjoy S$108 cashback and $0 processing fee as a sign up gift
  • Applied Interest Rate (net processing fee) is calculated on the loan amount by a reducing balance method
  • Ideal for lump-sum one time borrowing needs
  • HSBC's online exclusive promotional rates are very competitive.
  • For Singaporeans and PR with an annual income between S$30,000 - S$120,000, the maximum loan amount will be 4 x your monthly income
  • For Singaporeans and PR with an annual income of at least S$120,000, the maximum loan amount goes up to a maximum of 8 x your monthly income
  • With the maximum loan amount being S$200,000
  • Best for applicant whose annual income are at least S$80,000, and are keen on at least a 3 years loan.
  • One of the lowest minimum annual income requirements of personal loans for foreigners at S$40,000

  • However, if applicants are unable to apply online, the interest rates offered will be high
  • Loan tenors of 6 and 7 years are only available to salaried employees

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 )