HSBC Personal Loan Reviews and Comparison - Seedly
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HSBC Personal Loan

  • Overview
  • Reviews (1)
  • Questions (2)
  • More Details

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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    1
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application smooth

application process

process myinfo

myinfo uploading

uploading documents

documents hsbc

hsbc website

website additional

additional verification

verification purposes

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  • Updated on 25 Mar 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 comments
    0
Questions (2)
Recent ActivityUnansweredTrending

Citi Quick Cash

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POSB Personal Loan

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Where would you suggest getting a personal loan from? Can you share the pros and cons of them?
Lim Qin Da
Lim Qin Da
Level 6. Master
Updated 2w ago
Hi Anon, there are several things to consider when coming to personal loans. Besides interest rates, you should also consider the type of loan that you are looking for, and whether you qualify for them. Recently, Seedly has written a guide to getting the best personal loans in Singapore with the lowest interest rates, where there are detailed explanations of everything regarding personal loans. You can refer to it here. I have pulled out this table that is used in the article, where a simple comparison is done between several loans that are available. ! If you are comparing just between interest rates for Personal Instalment Loans, CIMB Cashlite and OCBC Personal Loan offer the lowest interest rates. Do note that the respective bank terms and conditions apply. Alternatively, you may also like to refer to our Seedly Reviews Page, where the community has shared their feedback regarding the personal loans they have taken. Hope this helps!
Answer image preview
👍 0

Citi Quick Cash

Loans

CIMB CashLite Personal Instalment Loan

BOC $martLoan

Hong Leong Bank Personal Loan

HSBC Personal Loan

Maybank CreditAble Term Loan

OCBC Cash-On-Instalment

OCBC ExtraCash Loan

POSB Personal Loan

Standard Chartered CashOne Personal Loan

UOB Personal Loan

Debt

Education

Personal Loans

DBS/POSB Personal Loan

I need to take a loan for my university school fees that costs about $11k a year. Which bank have you made loans from and how was your experience with them?
CH
CH
Level 7. Grand Master
Answered 3w ago
Full time local uni? there is tuition fee loan or MOE loan which are interest free until you graduate. https://blog.seedly.sg/tuition-fee-loan-local-universities/ sad to say, if you are not working, you will hardly qualify for unsecured loans.
👍 0

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 )