Currently, HSBC extends Personal Loans only to its existing resident customers holding HSBC
Liability Accounts, Credit Cards or Home Loan, or employed with select corporates
You may walk into the HSBC branch to apply for a Personal Loan or reach your Relationship Manager who can help you apply for a Personal Loan. Alternatively, you may call our PhoneBanking number and we will arrange for a bank representative to visit you.
For applying for a Personal Loan, you will need to provide:
Proof of Address (any one)
HSBC India currently offers Personal Loans ranging from ₹75,000 to ₹3,000,000. The loan amount and the tenure for individual cases are based on the sole discretion of the Bank. Your Relationship Manager or our representative can meet up with you and work out the eligible amount.
As a Personal Loan customer, you will need to pay processing fees along with servicing interest on the loan. The processing fee (and applicable Goods and Services tax) on the Personal Loan will be deducted from the loan amount disbursed.
Yes. You can change the repayment instrument issued to HSBC for servicing the equated monthly instalment of your Personal Loan. Eg: Post-dated Cheques to ECS, ECS of X bank to ECS of Y bank. You can change the repayment instrument after paying the charges mentioned in the Tariff Sheet.
The disbursed amount will be credited to your bank account as mentioned in the Personal Loan application form. In certain loan takeover cases, the Pay Order will be issued to you in the name of the other financial institution (from where the loan has been taken over).
The loan amount would be disbursed at one go. An option for partial disbursement is not available.
The EMI date can be 5th or 15th of the month depending on the date of disbursal.
The customer needs to pay the EMI on the due date. Non-payment of EMI would impact, but will
not be limited to:
You can pre-pay the Personal Loan post 12 months of disbursement after sending us an intimation in writing and pay in accordance with the prepayment amount confirmation given by the Bank. Under the 30 Day Service Pledge programme, a customer can close the loan within 30 calendar days of the loan disbursement date, subject to the terms and conditions of the 30 Days Service Pledge programme.
The Bank issues its customer a No Due Certificate on closure of the loan.
Yes. You can partially prepay up to a maximum 20% of the original loan disbursed amount per year, across 2 transactions in a year. (The year in such a case will be a period of 12 months beginning from your loan disbursal date). Partial prepayment can be initiated only after 12months of loan disbursal date (after 12 months of loan disbursal date for Balance Transfer cases); Any payment would attract prepayment charge of 3.75% of the amount prepaid or as per terms detailed in your Personal Loan agreement
You have the option of either continuing with the same EMI and thus repay the loan earlier than the sanctioned tenure OR reduce your EMI.
If you wish to change your monthly EMI, please visit the nearest HSBC India branch to complete the necessary documentation. You will need to issue us a revised Standing Instruction (SI) or ECS (Electronic Clearing System) mandate for the revised EMI amount.
The minimum tenure for Personal Loan is 12 months and the maximum tenure is 60 months. We offer Personal Loans with flexible tenure of upto 60 months (i.e. tenure from a minimum of 12 months onwards with additional block of 6 months. You can choose a tenure ranging from 12, 18, 24, 30, 36, 42, 48, 54 or 60 months).
Visit our contact page to speak to us over the phone, email or online enquiry