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Hsbc Bank Personal Loan Details With Interest Rate

Kindly Check Complete Details For Hsbc Bank Personal Loan.

Hsbc Bank
Personal Loan
upto 2.25%
50K - 20Lac
12-60 mnths
Full Details for Hsbc Bank Personal Loan

Features & Benefits

Personal loan repayment with low interest rates

HSBC India offers

  • Personal Loans with flexible tenure of up to 5 years (i.e. tenure from a minimum of 6 months onwards with additional block of 6 months. You can choose a tenure ranging from 6, 12 , 18, 24, 30, 36, 42, 48, 54 or 60 months).
  • The maximum loan amount that can be availed of under this offer is Rs. 15 lakhs. Select customers may be eligible for loans upto Rs. 30 lakhs based on internal credit policy of HSBC.
  • Easy monthly repayment through Equated Monthly Installments (EMI) or through Electronic Clearing System (ECS) or by setting up a Standing Instruction (SI) on HSBC bank account
  • EMI date will be the 5th or 15th of every month, depending on the loan disbursal date.
  • For HSBC personal loans disbursed between 1st and 15th of the calendar month, the EMI date will be 5th of next calendar month.
  • For HSBC personal loans disbursed between 16th and 31st of the calendar month, the EMI date will be 15th of next calendar month.
  • Transfer of an existing personal loan from another bank in India
  • No requirement of collateral/guarantor
  • Easy documentation, quick processing and disbursal
  • Home renovation or other home related expenses
  • Marriage expenses
  • Travel expenses
  • Transferring an existing loan from another bank
  • Purchasing consumer durables or equipment
  • Any other personal needs and contingencies

Personal Loan Interest Rates and charges **

Our current interest rate ranges from 11.29% p.a. to 17.5% p.a Processing fee up to 2.5% of the disbursed loan amount

Prepayment charge is upto 3.75% of the principal outstanding. Prepayment would be allowed only after 6 months from the date of loan disbursal (after 12 months of loan disbursal date for Balance Transfer & Specific rate cases)

Interest Rates for Q1 2017

Annual Percentage Rate (APR) for Personal Loans ranges between 10.99% to 19.84% for all loans at a maximum tenor of 60 months

Interest Range for Q1 2017 for different categories of customers: 10.99% to 19.5% p.a. Mean (Average) interest rate in Q1 2017 was 12.51% p.a.

All loans at the sole discretion of The Hongkong and Shanghai Banking Corporation Limited, India (HSBC)". Personal loans are available in the cities of Mumbai, Delhi, Pune, Kolkata, Bengaluru, Hyderabad, Ahmedabad, Jaipur, Chandigarh, Chennai, thiruvananthapuram, Cochin, Ludhiana and Baroda only and is subject to change from time to time. Click here for the Most Important Terms and Conditions (MITCs) for Personal Loan from HSBC.

*The loan amount may vary subject to conditions and other internal credit policy of HSBC.

"Please note that as per recent directive in the Union budget 2016, from 1 June 2016, the effective rate of tax would be 15% (Service tax of 14%, Swachh Bharat and Krishi Kalyan Cess of 0.5% each) and will be applicable on all our fees and charges".

Eligibility Criteria

  • Applicant must be existing HSBC customer
  • Applicant should be a resident Indian
  • The minimum age of the Applicant should be 21 years
  • The maximum age of the Applicant at loan maturity should be 58 years years for salaried and 65 years for the self employed
  • The minimum net annual income should be Rs.400,000 p.a. and above for Corporate Employee Programme and Rs.500,000 and above for other customers

The following documents are required to be submitted while applying:

Complete loan application form with one passport size photograph.

Valid proof of applicant's identity (any one of the following)

  • Passport
  • Election/Voter's ID
  • Permanent driving licence
  • Government employee ID card
  • Defence ID card
  • Permanent Account Number (PAN) card
  • Aadhar Card
  • Photo ration card
  • National Rural Employment Guarantee Act (NREGA) Job Card

Proof of residence (any one of the following)

  • Passport
  • Election/Voter's ID
  • Permanent driving licence
  • Ration card (refer note 43ik)
  • Society outgoing bill (only from registered societies)
  • Electricity/water/telephone bill
  • Gas bill (pipeline connection only)
  • Property tax bill
  • Domicile certificate with address issued by Municipal Corporation
  • Registered rent/lease agreement (registered with State Government or similar registration authority)

Proof of age (any one of the following)

  • Passport
  • Driving license
  • Birth certificate
  • Photo PAN card
  • School leaving certificate

Financial documents

Salaried individuals

  • Latest salary slip showing statutory deductions OR
  • Form 16 (Declaration from employer giving details of income and deductions, duly signed by an authorised signatory of the company) AND
  • Salary account statements for the last 3 months

Self employed individuals
  • Audited/ certified financials (P&L account and Balance Sheet) AND
  • Acknowledged IT returns for the last 2 years AND
  • Bank statement of the primary account for the last 6 months
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