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