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Loans - Service Charges

Save upto 50% on interest payments with SMART HOME from HSBC

The interest rates on the loans and advances will be linked to HSBC's Base Rate. Base Rate will be the minimum rate for all loans and advance at which the Bank would lend. Click here to know the effective Base Rate.

Please note that as per Notification No.14/2015-Service Tax dated 19 May 2015 , a service tax @ 14% will be applicable on our fees and charges with effect from 01 June 2015. Please click here for Service Tax details.
Fees and charges are subject to change at the sole discretion of the bank.
All loans at the sole discretion of The Hongkong and Shanghai Banking Corporation Limited, India.

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Home Loan from HSBC / Smart Home / MyHomeHome Loan from HSBC / Smart Home / MyHome1

    1 This product is no longer offered by the Bank. Information mentioned is for existing customers who have availed of MyHome product earlier
Request for Copy of property documents held with the bank Rs. 500
Note
All above fees and charges are not applicable for HSBC Premier customers.
Processing fee A total of 1% of the loan amount sanctioned or Rs. 10,000, whichever is higher, will be applicable as Processing Fee (plus service tax). The fee is collected in two parts: Rs. 5,000 + Service Tax is to be paid upfront along with the loan application and the balance Processing Fee amount + Service Tax is to be paid before disbursal of the loan. Processing Fee paid is non-refundable.
For Delayed installments on account of cheque or SI (standing instruction) dishonors Rs. 250 per instance
Penal Interest on the delayed installments on account of cheque or SI (standing instruction )
2% over and above the existing interest rate charged on the loan account for the amount which is overdue
Prepayment Charges
For Home loan (Floating rate)and Smart Home (Floating rate) No pre-payment charges
For Fixed Rate Home Loan2 as below
Up to 25% of the loan amount sanctioned in every financial year
For amount more than 25% of the loan amount sanctioned in every financial year

NIL

3% of amount prepaid
2 Prepayment is permitted after a minimum of 6 months following the loan disbursal. The prepayment charges mentioned above shall be applicable during the fixed rate tenure of the loan. In case of the loan switching to floating rate, prepayment charges will not be applicable.
From floating rate to fixed rate
3 Loan anniversary is the day and month on which the loan was disbursed. Example: If your loan was disbursed on 20 May2012. Then every year 20 May will be the loan anniversary.

From fixed rate to floating rate
Switching from fixed rate to floating rate is allowed only after completion of fixed term. With fixed rate, the rate of interest is fixed for the specified loan tenure as per the Fixed tenure offering of the Bank as on that date. We offer fixed rate for loan tenure of 12 months. Post the completion of the fixed rate tenure, your rate will move to Floating rate, which will be linked to then prevailing Base Rate. The applicable margin over the Base Rate will be decided upfront while availing the Fixed rate loan. Fixed Rate loan is not offered for under construction loan and /or interest servicing loans.
Note
1) The interest rate on your floating rate loan, post 1 July 2010, is linked to HSBC’s Base Rate. Any revision in the Base Rate would impact your interest rate.
2) For processing prepayment requests, customers are required to send HSBC, a written instruction communicating their desire to prepay with their intent of wanting to reduce the loan tenure or EMI. In case no clear instruction is received to reduce loan tenure or EMI, we will by default reduce the loan tenure based on the prepayment amount received. In case excess funds/amounts are received towards the loan account without any written instructions from the customer to prepay, for Smart Home the amount will be credited to the Smart Home account and will impact the available balance in the account. However for Home Loan, such excess amounts will be apportioned towards the principal amount of the loan.
3 ) Fixed rate is not available for Smart Home.
Legal/ Other Charges
Legal Charges
Expenses incurred on Proceedings under SARFAESI Act /Proceedings under Sec138 of NI Act and/ or other Litigation on the account As per actuals applicable to an overdue / delinquent account
Other Charges
Other incidental charges & expenses will be levied to cover the costs, charges, expenses, lawyers' charges and/or cost incurred on the litigation/any legal matter and all other cost that may have been incurred in connection with recovery of dues from delinquent accounts. As per actuals applicable to an overdue / delinquent account
Note
Please be advised that applicable Indirect Taxes including service tax and cess would be recovered on all our fees and charges and any other amount liable to tax under prevailing Indirect Tax Laws.

Charges are applicable for relevant services, for the associated savings/current account. Please refer to the tariff schedule for such accounts displayed on www.hsbc.co.in for details.

The charges are subject to change from time to time, at the sole discretion of HSBC. Any such change will be made with prospective effect post providing a month’s notice. If we have made any change without notice, we will notify the change within 30 days. If such change is to your disadvantage, you may within 60 days and without notice, close your account without having to pay any prepayment charges. However, this would not be applicable to changes in finance charges (interest rates) and any charge levied as a result of regulatory requirements.

Late payment charge ( Includes Penal Interest and Charges for delayed instalments on account of cheque or Standing Instruction(SI) dishonours) will be applicable if the Equated Monthly Installment (EMI) which is due is not paid by the due date.

The interest rate on your floating rate loan, if disbursed on / after July 01, 2010 is linked to HSBC's Base Rate. Any revision in the Base Rate would impact your interest rate. The Base Rate is 9.10% p.a. effective from Monday, 9 November 2015.

The interest rate on your floating rate loan if disbursed prior to July 01, 2010 is linked to HSBC's Retail Lending Rate (RLR) and any revision in the RLR would impact your interest rate. The RLR is 16.35% p.a. efffcetive Monday, 9 November 2015.

For further details on the Base Rate and it's impact on your floating rate loan, please refer to the FAQs

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Loan Against Property / Smart Loan Against PropertyLoan Against Property / Smart Loan Against Property

Request for Copy of property documents held with the bank Rs. 500
Note: All above fees and charges are not applicable for HSBC Premier customers
Processing fee A total of 1% of the loan amount sanctioned or Rs. 10,000, whichever is higher, will be applicable as Processing Fee (plus service tax). The fee is collected in two parts: Rs. 5,000 + Service Tax is to be paid upfront along with the loan application and the balance Processing Fee amount + Service Tax is to be paid before disbursal of the loan. Processing Fee paid is non-refundable.
For Delayed installments on account of cheque, ECS or SI (standing instruction) dishonors Rs. 250 per instance
Debit card charges Rs. 150 per annum
Penal Interest on the delayed instalments on account of cheque or SI 2% over and above the existing interest rate charged on the loan account for the amount which is overdue
Annual Fee (only applicable for Smart LAP) 1% of limit outstanding payable on each loan anniversary4 till the loan is completely repaid
Pre-payment Charges
For LAP (Floating Rate) and Smart LAP (Floating Rate) NIL Pre-payment Charges
Prepayment charges for Fixed Rate LAP5
Upto 25% of the outstanding loan amount once in every financial year NIL
For amount in excess of  25% of the outstanding loan amount or more than one prepayment 4% of Pre-payment amount
4 Loan anniversary is the day and month on which the loan was disbursed. Example: If your loan was disbursed on 20 May 2012. Then every year 20 May will be the loan anniversary.

5Prepayment is permitted after a minimum of 6 months from the date of loan disbursal. The prepayment charges are applicable only during the fixed rate tenure. If you switch your loan to floating rate, prepayment charges will not be applicable

Note
1) The interest rate on your floating rate loan, post 1 July 2010, is linked to HSBC’s Base Rate. Any revision in the Base Rate would impact your interest rate.
2) For processing prepayment requests, customers are required to send HSBC, a written instruction communicating their desire to prepay with their intent of wanting to reduce the loan tenure or EMI. In case no clear instruction is received to reduce loan tenure or EMI, we will by default reduce the loan tenure based on the prepayment amount received. In case excess funds/amounts are received towards the loan account without any written instructions from the customer to prepay, for SmartLAP the amount will be credited to the SmartLAP account and will impact the available balance in the account. However for Loan Against Property, such excess amounts will be apportioned towards the principal amount of the loan.
3) Fixed rate is not offered for SmartLAP.
4) Switching is not permitted from LAP to SmartLAP and vice versa.
 
Legal/ Other Charges
Legal Charges
Expenses incurred on Proceedings under SARFAESI Act /Proceedings under Sec138 of NI Act and/ or other Litigation on the account As per actuals applicable to an overdue / delinquent account
Other Charges
Other incidental charges & expenses will be levied to cover the costs, charges, expenses, lawyers' charges and/or cost incurred on the litigation/any legal matter and all other cost that may have been incurred in connection with recovery of dues from delinquent accounts. As per actuals applicable to an overdue / delinquent account
Note
Please be advised that applicable Indirect Taxes including service tax and cess would be recovered on all our fees and charges and any other amount liable to tax under prevailing Indirect Tax Laws.

Charges are applicable for relevant services, for the associated savings/current account. Please refer to the tariff schedule for such accounts displayed on www.hsbc.co.in for details.

The charges are subject to change from time to time, at the sole discretion of HSBC. Any such change will be made with prospective effect post providing a month’s notice. If we have made any change without notice, we will notify the change within 30 days. If such change is to your disadvantage, you may within 60 days and without notice, close your account without having to pay any prepayment charges. However, this would not be applicable to changes in finance charges (interest rates) and any charge levied as a result of regulatory requirements.

Late payment charge ( Includes Penal Interest and Charges for delayed instalments on account of cheque or Standing Instruction(SI) dishonours) will be applicable if the Equated Monthly Installment (EMI) which is due is not paid by the due date.

The interest rate on your floating rate loan, if disbursed on / after July 01, 2010 is linked to HSBC's Base Rate. Any revision in the Base Rate would impact your interest rate. The Base Rate is 9.10% p.a. effective from Monday, 9 November 2015.

The interest rate on your floating rate loan if disbursed prior to July 01, 2010 is linked to HSBC's Retail Lending Rate (RLR) and any revision in the RLR would impact your interest rate. The RLR is 16.35% p.a. efffcetive Monday, 9 November 2015.

For further details on the Base Rate and it's impact on your floating rate loan, please refer to the FAQs

 

Services offeredServices Offered* ( Home Loan/Smart Home/LAP/Smart LAP )

Switching Options
From Home Loan to Smart Home and vice versa
From floating rate to fixed rate and vice versa (Applicable if Fixed Rate is offered)
Switching from fixed rate to floating rate is allowed only after completion of fixed term.
Switching is not permitted from LAP to SmartLAP and vice versa.
Other Services
Request for change of EMI date, rescheduling of loans (increase/decrease in EMI/tenure)
Request for daily interest calculation details
Request for duplicate amortisation schedule
Request for duplicate copy of welcome pack (amortisation schedule plus facility advice letter plus list of documents)
Re-pricing request for an active account
Request for change of Standing Instructions, change of repayment mode (cheque swap charges)
Copy of track record
Copy of Credit Information Report (CIR)
* The services offered in this section are currently not chargeable to you.

Note
We reserve the right to vary charges or fees from time to time by giving you prior notice of not less than 30 days for any variation affecting fees and charges under our control or affecting your liabilities or obligations or for such reasonable period as we may specify in the case of other variations. We will immediately update, on our website, any changes to the tariff.
If we have made any change without notice, we will notify the change within 30 days. If such change is to your disadvantage, you may within 60 days of the notice, close your account without having to pay any prepayment charge.
We would not be bound by a month’s notice for change in interest rates or any charge levied as a result of regulatory requirements.

TopApply Now for Loan Against Property / Smart Loan Against Property

 

Asset Link (Overdraft Against Shares)Asset Link (Overdraft Against Shares)

Annual Service Charges 1.5% of limit.
Duplicate Statements Rs 250 per statement
Service Withdrawal Charge Rs 200 per scrip (Max. Rs 500 per withdrawal)
Unauthorized Overdraft / Overlimit 2% over and above the applicable interest rate
Charge for unsuccessful execution of Standing Instruction for payment / Cheque bounce charge Rs 250
Note
The above is an extract of our tariff.

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Personal Loan from HSBCPersonal Loan from HSBC

Personal loan processing charges Upto 1% of the disbursed loan amount. Processing fee paid/deducted is non-refundable
Foreclosure / Partial prepayment charges Upto 4% of the outstanding amount.
Foreclosure or partial prepayment allowed only after 6 months from the date of Personal Loan disbursement(after 12 months of loan disbursal date for Balance Transfer cases).
Cheque Return charges* INR 350
Cheque Swap charges INR 250
Late payment charges* 2% over the applicable interest rate on the delayed instalments plus INR 250 for each late payment
* The bank reserves the right to levy cheque return and late payment charges..
 
Note: The Personal Loans tariff and charges are scheduled to be revised w.e.f 01 January 2016. Refer below table for proposed revision.
Service Charges Revised tariff effective 01 January 2016
Personal loan processing charges Up to 2.5% of the disbursed loan amount. Processing fee paid/deducted is non refundable
Foreclosure / Partial prepayment charges Up to 3.75% of the outstanding amount
Foreclosure or partial prepayment allowed only after 6 months from the date of Personal Loan disbursement(after 12 months of loan disbursal date for Balance Transfer cases).
Foreclosure fee on Personal Loans to HSBC & HSBC Group staff. 1% of the outstanding.
If the individual is no longer a staff when the loan is being foreclosed the regular foreclosure fee of 3.75% on the outstanding amount will apply.
Cheque Return charge NIL
Cheque Swap charges NIL
Late payment charges NIL
Note
Please note that as per the Central Government directive, from 15Nov2015, there is new levy of Swachh Bharat Cess @0.5% with this the effective rate of tax would be 14.5% to include the Swachh Bharat Cess (0.5%). The revised tax will be applicable on all fees and charges that are levied by us.Do approach HSBC PhoneBanking for any clarifications.

Fees and charges are subject to change at the sole discretion of the Bank and will be intimated to customer atleast a month prior to the same being applicable.

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Customers shall be provided with authenticated copies of all the loan documentsexecuted by them along with a copy each of all enclosuresquoted in the loan document free of costat the time of disbursement of loan.. For further information please contact the HSBC Contact Center.

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