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A simples guide

Compare HSBC Loans

As an established high street bank, HSBC has a large number of options when it comes to finance products. But it’s not just bank accounts, HSBC also offer personal loans whether you’re an existing customer, or not.

Because the bank has a high street presence, you can get to a branch in a hurry if you really need to, or you can apply for financial products online. Borrowing money is a financial commitment though, so before you apply for anything make sure you compare your other options – and we can help you do just that using our loan comparison service.

So how much can I borrow?

It depends on the loan you choose; HSBC’s personal loans are available to anyone who already holds a UK bank account with a Direct Debit facility. You’ll have to have an income of £10,000 or more, be over 18 and be a UK resident. Subject to credit checks, then you could get a loan for anything between £1,000 and £15,000. 

Premier Personal Loan

If you’re looking for a bit more, then HSBC also have a Premier Personal Loan that offers up to £25,000. But to be eligible you need to have an HSBC Premier bank account. You’ll also need either £50,000 worth of savings and investments with HSBC or have an annual income of £100,000 and an HSBC mortgage or other HSBC financial product (like life insurance).

Graduate Loan

If you’ve graduated from university in the last five years, then you could be eligible for a Graduate Loan. It’ll offer you more money than a standard personal loan (up to £25,000) and you don’t have to be sitting on a gold mine already to qualify. Apart from being a recent graduate, you need to have had an HSBC Graduate account – you’ll also need an income of £10,000.

The representative APR on the HSBC Personal, Premier Personal and Graduate Loan is currently 3.3%. Of course, whether you qualify for the 3.3% is down to credit checks and any other requirements HSBC have.

Flexible Loan

If you’re looking for something simple, then HSBC also offer a Flexible Loan, the representative APR on this is currently 17.9% but you’ll have to be an existing HSBC customer to take this out – you can borrow anything from £500 to £5,000. Repayments are flexible with this loan too (although there will be a minimum payment as well). You’ll only pay for what you use so this loan is pretty straightforward, plus, as with the other loans, you won’t pay any set up fees.

How long do HSBC loans take to come through?

HSBC current account customers can get an instant decision and immediate funds. Even non-HSBC customers can get a decision within five working days and can receive their funds three days later.

Compare HSBC Loans

Is an HSBC loan for me?

If you’re an existing customer, you might find it easier to have all your finance handled in one place so taking out a loan with HSBC could be a useful option. But there’s a wealth of loan options out there and the right one for you doesn’t have to be the one that your existing bank offers. So before you make a commitment, compare loans right here and find the right loan for your needs.

All HSBC loan details are based on information provided on hsbc.com data on 4 November 2016.

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