A simples guide

HSBC Loans

As one of the big banks, HSBC has a huge number of options when it comes to loans. As well as traditional personal loans, the bank offers business loans flexible loans and mortgages.


So it doesn’t matter if you want to borrow some money to get married, head off on holiday or add value to your home, HSBC has a package to suit you. It even has options for those with bad credit.


The bank has a massive high street presence, so you can get to a branch in a hurry if you really need to, and you can apply for a loan online in just a few minutes.Borrowing money is a serious financial commitment though, so before you commit to anything you should do a thorough review of the other options and we can help find the right product for you. 


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.

Whilst HSBC takes care of its own customers impeccably, with a range of loans available HSBC might be worth the wait for non-customers too. 

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What are the requirements?

If you want to apply for a HSBC personal loan, then you’ll need a bank or building society account with a direct debit facility. You will also need a gross annual income of £10,000 or more, which will give the bank some confidence you can pay it back.

You’ll need to be a UK resident, over 18 and have a better credit facility than a basic bank account. If you are a resident of the Channel Islands or the Isle of Man then you can apply, however you must have a HSBC current account.

How much can I borrow?

HSBC can lend you between £1,000 and £25,000 as a personal loan. A typical APR of 3.3% is available on loans between £7, 000 and £15,000 which you can repay over 12-60 months. This is the lowest loan rate available. Higher or lower loan amounts will have a higher typical APR

The bank offers fixed-rate loans so you can be sure that your interest rates won’t climb if the Bank of England base rate suddenly soars. You can make overpayments on your loan without any penalties and HSBC offers repayment holidays. You can take these for the first three months or in January every year when everybody is feeling the financial hangover from Christmas.

If you already have a loan with HSBC then you can apply for additional finance as well, effectively paying off the last loan and taking out a new one.

You should always check out the options before you commit though, because a loan is a major commitment and the banks are fighting hard for your business. HSBC’s rates seem competitive, but there is no perfect loan for everybody. You have to find the right option for you, so look at HSBC’s loans and then compare the interest rates and the terms and conditions with the best of the rest.

You can compare now and make sure that you’re seeing the best accounts we can offer at any given time. So make sure you get the right loan for you and relax, safe in the knowledge that you got a great deal.

All HSBC loan details are based on information provided on hsbc.com data on 21 April 2016

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