A personal loan from HSBC can be of great resource when your expenses arise such as your daughter’s marriage, higher education of your children, renovating your home or when you plan a family holiday trip.
HSBC provides personal loan to the existing customers of the bank therefore, you will have to open an account with the bank if you are thinking to get a personal loan from them.
Applicant should be a resident of the states and he/she should be able to provide a valid ID and proof of residence. Monthly income proof or self employment proofs are mandatory to be submitted at the time of application.
HSBC also offers Debt Consolidation and Home Improvement Loans that can be very useful when you are looking to get some control over your debts or when you need some urgent cash to make some home improvement.
Features and Benefits of HSBC Personal Loans
The following are some of the features and benefits of the personal financing solutions available at HSBC Bank.
- Borrow up to four times your salary or up to $100,000, for any purpose
- Enjoy regular payments with fixed monthly installments
- No collateral or guarantor required
- Extended loan tenor of up to 7 years+
- Affordable low interest rates on all loan terms
- Enjoy hassle-free and easy application
- Enjoy low rates of 12% p.a. depending on approved loan amount and loan term
- Enjoy special rates of 10% p.a. or 11% p.a. if you are an HSBC Premier or HSBC Advance customer.
What you need to apply for a personal loan?
Visit a local HSBC store, call its customer service phone number 1-800-975-4722 or apply online at its website banking.us.hsbc.com.
You are likely to be asked for the following information details, so be ready with them.
- The purpose of the loan
- The name, address and phone number of a relative not living with you
- Your address and for how long have you been living there
- Monthly mortgage or rent payment amount
- Employer details
- Length of your current employment and the salary you draw annually
- Other annual income that you may want to show
- If already an HSBC account holder, then the details of the same
How can you use the amount borrowed through a personal loan?
One can easily get an affordable rate personal loan from HSBC to cover:
- Home improvement and other home related expenses
- Travel expenses
- Purchasing consumer equipment or durables
- Marriage expenses
- Transferring an existing loan from other bank
- Or any other personal needs and emergency requirements.
The bank also offers a number of advantages for its existing personal loan customers.
One can enjoy better flexibility when they draw down the amount that they have repaid from their existing personal loan account up to four times their monthly income, without any processing fee.
Moreover, one can choose to extend their loan tenor and enjoy fixed monthly repayments as before.