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).
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.
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.