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A couple embracing each other; image used for HSBC home loan page.

Home Loan

Transfer your existing Home Loan to HSBC with interest rate starting at 6.45% p.a. T&Cs apply.

Why choose a HSBC Home Loan?

We understand that buying a house is one of the most important decisions in life, for people across the world. We also know that while most people dream of owning a perfect home, achieving that goal can be quite a challenge, especially when it comes to arranging the finance required to make such an expensive purchase.


But you can now fulfil this dream by opting for a Home Loan from HSBC.
 

  • Loan requirement - Loans ranging from INR300,0001 up to INR300,000,0001

  • Property types - Loans are available to Resident Indians and Non-Resident Indians (NRIs) for ready properties, select under construction properties approved by HSBC. NRI applicants must have a local co-applicant or a local contact person

  • Loan tenure - Loans are available for tenures up to 20 years and for salaried customers up to 25 years

Interest rates

Floating rates. Speak to a relationship manager for more details.

6.45% p.a.

Balance Transfer Loans

6.70% p.a.

Salaried

6.80% p.a.

Self-employed

Fees and charges

Processing fees

A total of 1% of the loan amount sanctioned or INR10,000, whichever is higher, will be applicable as Processing Fee (plus applicable taxes5). The fee is collected in two parts: INR5,000 + applicable taxes5 is to be paid upfront along with the loan application and the balance processing fee amount applicable taxes5 is to be paid before disbursal of the loan. Processing fee paid is non-refundable.

Pre-payment charges

Type Charge
For floating rate Home Loan
No pre-payment charges
For fixed rate Home Loan as below

Up to 25% of the loan amount sanctioned in every financial year: NIL

For amount more than 25% of the loan amount sanctioned in every financial year: 3% of amount prepaid

Pre-payment charges

Type For floating rate Home Loan
Charge No pre-payment charges
Type For fixed rate Home Loan as below
Charge

Up to 25% of the loan amount sanctioned in every financial year: NIL

For amount more than 25% of the loan amount sanctioned in every financial year: 3% of amount prepaid

For processing pre-payment requests, you are required to send HSBC a written instruction communicating your desire to pre-pay with the 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 basis the pre-payment amount received.

The security documents need to be stamped as per the local stamp duty laws, please speak to your Relationship Manager regarding the stamp duty payable on your documents.

Read more details on the applicable fees and charges.

Eligibility

To qualify for a Home Loan from HSBC, the following criteria apply

  1. Minimum net Income INR500,000 p.a (salaried)4 or INR750,000 p.a (self-employed)
  2. Minimum age (in years) 21
  3. Maximum age (in years) on maturity of loans 58 (salaried), or 60 (public limited/government employees), or 65 (self-employed)
  4. Minimum loan amount1 INR300,000
  5. Maximum loan amount1 INR300,000,000
  6. Maximum tenure (in years) 20 years. For salaried applicants 25 years.

Insurance

You would need to insure your property with an insurance company against loss by fire, earthquake, floods and other damages with The Hongkong and Shanghai Banking Corporation Limited, India, as the beneficiary.

Switch to HSBC

Save more on EMIs or reduce your loan tenure by transferring your Home Loan to HSBC.

  • Interest rates starting at 6.45% (floating rate loans)

  • Credit of up to 0.3% of the loan amount

  • Nil processing fees

  • Top-up of up to 150% at the same rate

Frequently asked questions

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Important information

Terms & Conditions

All loans are subject to Terms and Conditions and are at the sole discretion of The Hongkong and Shanghai Banking Corporation Limited, India (HSBC). Currently Home Loan is available to applicants and for properties in and around the city limits of (sourcing cities) Mumbai, New Delhi, Gurgaon, Noida, Bengaluru, Pune, Chandigarh, Jaipur, Ahmedabad, Chennai, Hyderabad and Kolkata; and are subject to change from time to time.

Loan anniversary is the date 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.

1 The minimum and maximum loan depends on customer’s relationship with HSBC, city of property and property type. Loan amount of upto INR 300,000,000 only for existing HSBC Top Tier customers with total relationship with HSBC of more than USD 1M for properties in Mumbai/Delhi, upto INR 150,000,000 for properties in other cities. For HSBC Premier customer maximum loan amount of INR100,000,000 for all sourcing cities for ready and under construction properties. For other customers loan amount of INR500,000 to INR100,000,000 for ready and under-construction properties in Mumbai, New Delhi (NCR), INR300,000 to INR75,000,000 for ready and under construction properties in Bengaluru, Chennai, Pune, Ahmedabad, Chandigarh, Jaipur, Hyderabad and Kolkata (however we do not fund under construction property in Kolkata). The minimum agreement and market value of the property to be funded for Mumbai and Delhi is INR2,500,000 and for all other sourcing cities is INR1,500,000.

2 Pre Equated Monthly Instalment (Pre-EMI) means interest on the loan from the date/dates of disbursement of the loan to the date immediately prior to the date of commencement of EMI and initially at the rate indicated in the FAL and subject to change from time to time. Pre-EMI amount will be adjusted towards payment of the interest accrued on the outstanding loan amount.

3 Equated Monthly Instalment (EMI) means the amount of monthly payment consisting of principal and interest necessary to amortise the loan amount with applicable interest within such period as may be determined by the Bank from time to time.

4 To meet the minimum income criteria, income of two salaried applicants can be clubbed.

5 Please note that basis Goods and Services Tax (GST) regulations and notified GST rates, Central GST, State/Union Territory GST, or Inter-State GST, as applicable, and Cess as applicable would apply on our fees and charges.

Home loans are available to both Residents as well as NRIs. NRI Applicants must have a local co-applicant or a local contact person. All joint owners of the property would necessarily have to be co-applicants and would need to sign all loan documents.

The interest rate on your floating rate loan, if disbursed on/after 01 October 2019 is linked to HSBC's Repo Linked Lending Rate (RLLR). Any revision in the RLLR would impact your interest rate.

The interest rate on your floating rate loan, if disbursed on/after 01 April 2016 is linked to HSBC's 3 month Marginal Cost of Fund based Lending Rate (MCLR). Any revision in the 3 month MCLR would impact your interest rate.

The interest rate on your floating rate loan, if disbursed on/after 01 July 2010 till 31 March 2016 is linked to HSBC's Base Rate. Any revision in the Base Rate would impact your interest rate.

The interest rate on your floating rate loan if disbursed prior to 01 July 2010 is linked to HSBC's Retail Lending Rate (RLR) and any revision in the RLR would impact your interest rate.

 

Change of existing Benchmark Rate from MCLR/Base Rate/Retail Lending Rate to Repo Linked Lending Rate (RLLR)

 

Existing HSBC Mortgage customer who wish to link their Floating rate loans to RLLR from their existing benchmark rates of MCLR/Base Rate/Retail Lending Rate can do so by approaching their Relationship Managers or visiting their nearest branch for more details. A one time nominal switch over charge / fees of up to INR 5000/- plus applicable taxes would be charged. The application form for conversion can be found here.

The Most Important Terms and Conditions (MITC)(PDF, 138KB)  are displayed on the website for your reference. A copy of the same is also available at our Branches.

Please be advised that applicable Indirect Taxes would be recovered on all our fees and charges and any other amount liable to tax under prevailing Indirect Tax Laws.

Our Centralised Registration Number is AAACT2786PST001.

 

Home loan balance transfer terms and conditions 

  1. This is brought to you by The Hongkong and Shanghai Banking Corporation Limited, India (HSBC/Bank). Any participation in the Offer is voluntary.
  2. The mentioned floating rate of interest is being offered for Home Loans. The rate applicable for other variants (Smart Home Loan. Loan against Property and Smart Loan against Property) will be at a premium. This rate is applicable only for Balance Transfer/Balance Transfer + Top-up. Top up of more than 150% of the base loan will be priced at a premium of 25 bps.
  3. The Interest rate on your Floating Rate Home Loan is linked to HSBC’s (the Bank) published Repo Rate Linked Lending Rate (RLLR). HSBC’s RLLR would be linked to RBI’s published repo rate rounded off to the nearest 5 bps. The RLLR will be published by the Bank at the beginning of every month and it will be the benchmark rate for RLLR linked Home Loans that are disbursed in that particular month. The floating rate of interest on all the loans disbursed by the Bank will be reset when there is a change in the policy repo rate by RBI. The reset will be done by the 7th calendar day of the following month from RBI’s announcement of change in repo rate. A revision in the applicable rate of interest will lead to a revision in the Equated Monthly Instalment (EMI) or the loan tenure at the Bank’s discretion. The applicable rate of interest rate on your loan is the RLLR plus the margin (spread). For further details kindly visit our website www.hsbc.co.in.
  4. Credit up-to 0.3% of the loan amount is subject to:
    1. Maharashtra, Ahmedabad: Bonanza of up to 0.3% of the loan amount
    2. Bengaluru: Bonanza of up to 0.2% of the loan amount
    3. Chennai: Bonanza of up to 0.3% of loan amount OR INR25,000 whichever is lower
    4. Hyderabad: Bonanza of up to 0.3% of loan amount OR INR50,000 whichever is lower
    5. Jaipur: Bonanza of up to 0.15% of loan amount
    6. The credit will be done to the linked HSBC account within 120 days of the loan disbursal subject to the loan being active at the time of the credit
    7. Eligibility condition for credit - customer should have submitted all required post disbursal documents to the bank within 90 days of disbursal of the loan. In case of BT, the title documents from the erstwhile bank should have been received during the scheme period
    8. The Credit is applicable to cases which have been sourced in any of our approved locations with property located in Mumbai, Pune, Ahmedabad, Chennai, Bangalore, Hyderabad or Jaipur only
  5. All loans are subject to terms and conditions and are at the sole discretion of The Hongkong and Shanghai Banking Corporation Limited, India (HSBC). Currently Home Loan is available for properties in and around the city limits of (sourcing cities) Ahmedabad, Bengaluru, Chandigarh, Chennai, Hyderabad, Jaipur, Kolkata, Mumbai, New Delhi (NCR) and Pune and is subject to change from time to time.
  6. All loans are subject to the documentation, applicable credit policies and compliance of legal requirement of HSBC.
  7. HSBC shall conduct required verification, valuation and legal checks as per its extant policies applicable.
  8. HSBC reserves the right to ask for documents as required for the loan processing.
  9. HSBC reserves its absolute right to withdraw or alter any of the terms and conditions at any time without prior intimation.
  10. HSBC will not be liable for any loss or damage whatsoever that may be suffered, as a result of availing the Loan.
  11. This is subject to force majeure events.
  12. All decisions with respect to the loan shall be at the sole discretion of HSBC and the same shall be final, binding and non-contestable. Other than the specific entitlements available to the customers under this offer, any other claims with regard to this offer against HSBC are waived.
  13. Any disputes arising out of this shall be subject to the exclusive jurisdiction of courts in Mumbai only. The existence of any dispute shall not, by itself, constitute any claim against HSBC.
  14. By availing the loan, you shall be deemed to have accepted these terms and conditions herein in totality.
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