With over 48 million customers across 72 countries, HSBC Bank is one of the world’s largest banking and financial services organisations. Having launched in Australia in 1965, HSBC now has a network of 37 branches and offices which provide a competitive range of fixed and variable home loans to Australian property hopefuls.
HSBC also took out an impressive three Mozo Experts Choice Awards in 2019 for best First Home Buyer Loan, best Low Cost Home Loan and best Split Home Loan.
Rates and fees verified as correct at 27 February, 2020. Other information correct at the time of writing.
If you want repayment certainty, HSBC’s fixed home loan is available from $50,000 and offers an extensive range of fixed terms starting from a period of 1 year up to 5 years. There is no monthly service fee and you can borrow up to 90% of your property’s value. You’ll also have plenty of freedom in terms of repayment options with an extra repayment facility (up to $10,000 p.a.), interest in advance payment option for investors and the choice to split your loan between a fixed and variable rate. When you choose a fixed home loan, you may also be eligible for HSBC’s Premier option however you’ll be charged a monthly service fee.
| Product | Fixed 3 year rate | Comparison Rate* | Service fee | Upfront fee | Monthly repayments ‡ |
|---|---|---|---|---|---|
| 3.49% p.a. | 3.67% p.a. | $0.00 | $0 | ||
| 3.29% p.a. | 3.62% p.a. | $0.00 | $0 | ||
| 3.24% p.a. | 3.60% p.a. | $0.00 | $0 | ||
| 3.79% p.a. | 3.85% p.a. | $0.00 | $0 | ||
| 2.85% p.a. | 3.28% p.a. | $0.00 | $0 | ||
| 3.09% p.a. | 3.45% p.a. | $0.00 | $0 |
Whether you’re looking for a basic home loan or one with all the bells and whistles, a variable home loan from HSBC may be a great option for you. HSBC’s variable home loans are available from $50,000 and allow you to borrow up to 90% of your property’s value. There is an extra repayment facility if you want to reduce the term of your loan and you can redraw funds whenever you need to (fees may apply). If you choose a full featured variable home loan such as HSBC’s Home Smart Loan, you’ll get even more flexible features including an offset account, interest only payment option (up to three years) and unlimited free withdrawals via ATM, EFTPOS, BPAY, phone and internet banking.
| Product | Rate | Comparison Rate* | Service fee | Upfront fee | Monthly repayments ‡ |
|---|---|---|---|---|---|
| 3.38% p.a. | 3.40% p.a. | $0.00 | $270 | ||
| 3.20% p.a. | 3.22% p.a. | $0.00 | $270 | ||
| 3.05% p.a. | 3.07% p.a. | $0.00 | $270 | ||
| 3.53% p.a. | 3.59% p.a. | $0.00 | $870 | ||
| 3.28% p.a. | 3.34% p.a. | $0.00 | $870 | ||
| 3.23% p.a. | 3.25% p.a. | $0.00 | $150 | ||
| 2.90% p.a. | 2.91% p.a. | $0.00 | $150 | ||
| 5.38% p.a. | 5.40% p.a. | $0.00 | $270 | ||
| 4.76% p.a. | 4.78% p.a. | $0.00 | $270 | ||
| 5.02% p.a. | 5.08% p.a. | $0.00 | $870 | ||
| 4.77% p.a. | 4.83% p.a. | $0.00 | $870 | ||
| 4.15% p.a. | 4.21% p.a. | $0.00 | $750 | ||
| 5.63% p.a. | 5.70% p.a. | $0.00 | $870 | ||
| 5.38% p.a. | 5.44% p.a. | $0.00 | $870 | ||
| 4.76% p.a. | 4.82% p.a. | $0.00 | $870 |
If you’re looking to borrow $500,000 or more, check out the HSBC fixed rate Premier Home Loan Package. There are some fees to consider, including a monthly service fee, settlement fee, valuation and application fees. But in return, you get discounted rates on owner occupied or investment fixed rate home loans ranging from three to five years. To help you pay off your loan when it suits you, HSBC offer the option to make extra repayments up to $10,000 p.a. and can choose to make monthly, fortnightly or weekly payments. You also have the option to split your home loan between fixed and variable rates.
| Product | Fixed 3 year rate | Comparison Rate* | Service fee | Upfront fee | Monthly repayments ‡ |
|---|---|---|---|---|---|
| 3.39% p.a. | 3.86% p.a. | $35.00 monthly | $570 | ||
| 3.19% p.a. | 3.81% p.a. | $35.00 monthly | $570 | ||
| 3.14% p.a. | 3.51% p.a. | $35.00 monthly | $570 | ||
| 3.69% p.a. | 3.76% p.a. | $35.00 monthly | $570 | ||
| 2.75% p.a. | 3.39% p.a. | $35.00 monthly | $270 | ||
| 2.99% p.a. | 3.57% p.a. | $35.00 monthly | $270 |
There are two home loan package options with variable interest rates from HSBC: the Premier Home Loan Package and the Premier Smart Home Loan Package. With either package you’ll get the ability to make unlimited extra repayments, the use of an offset account and a free withdraw facility, although for the Premier Home Loan there is a minimum redraw of $500. You’ll pay no upfront fees, but there is an ongoing monthly fee to consider. The Smart Home Loan package must be paid monthly, but the Premier Package allows you to choose between weekly, fortnightly and monthly payment options.
| Product | Rate | Comparison Rate* | Service fee | Upfront fee | Monthly repayments ‡ |
|---|---|---|---|---|---|
| 4.85% p.a. | 5.29% p.a. | $35.00 monthly | $570 | ||
| 4.80% p.a. | 5.24% p.a. | $35.00 monthly | $570 | ||
| 4.75% p.a. | 5.20% p.a. | $35.00 monthly | $570 | ||
| 4.18% p.a. | 4.63% p.a. | $35.00 monthly | $450 | ||
| 4.13% p.a. | 4.58% p.a. | $35.00 monthly | $450 | ||
| 4.23% p.a. | 4.68% p.a. | $35.00 monthly | $450 | ||
| 3.05% p.a. | 3.50% p.a. | $35.00 monthly | $150 | ||
| 3.20% p.a. | 3.65% p.a. | $35.00 monthly | $150 | ||
| 3.33% p.a. | 3.78% p.a. | $35.00 monthly | $150 | ||
| 3.48% p.a. | 3.93% p.a. | $35.00 monthly | $150 | ||
| 3.05% p.a. | 3.50% p.a. | $35.00 monthly | $150 | ||
| 5.10% p.a. | 5.52% p.a. | $35.00 monthly | $270 | ||
| 5.05% p.a. | 5.47% p.a. | $35.00 monthly | $270 | ||
| 5.00% p.a. | 5.42% p.a. | $35.00 monthly | $270 | ||
| 4.80% p.a. | 5.22% p.a. | $35.00 monthly | $270 | ||
| 4.75% p.a. | 5.18% p.a. | $35.00 monthly | $270 | ||
| 4.85% p.a. | 5.27% p.a. | $35.00 monthly | $270 |
From the active investor to the home renovator, HSBC’s Home Equity Loan is a line of credit which is available on loans starting from $20,000 up to $1,000,0000. HSBC’s line of credit loan allows you to borrow up to 90% of your property’s value, and like other line of credit loans, there is no set loan term and minimum repayments are interest only. You’ll also have great access to take out funds whenever you need them with unlimited free withdrawals in Australia.
| Product | Rate | Comparison Rate* | Service fee | Upfront fee |
|---|---|---|---|---|
| 4.23% p.a. | n/a | $0.00 | $870 | |
| 3.84% p.a. | n/a | $0.00 | $870 |
‡ Results from this calculation are estimates only as individual lenders apply different formulas. Actual repayments will depend on your individual circumstances and interest rate changes.
| No monthly feeNo monthly fee | Saving money on your home loan is easy when you don’t have to pay any monthly account maintenance fees on HSBC’s fixed, variable or line of credit home loans (not applicable for Premier customers). |
| Offset accountOffset account | HSBC’s full featured variable loans have a handy offset account to help reduce your interest payments over the term of your loan. |
| Premier optionsPremier options | HSBC’s fixed, variable and line of credit home loans have a premier option for eligible customers. These options have exclusive benefits including discounted interest rates and home loan fees (i.e. application, variation) but there is a monthly service fee to consider. |
| Personal relationship managerPersonal relationship manager | Getting a home loan can be a little tricky so when you sign up for HSBC’s Home Value Loan, you’ll be given your own personal relationship manager to guide you through the entire process whether you’re buying, moving or refinancing. |
It’s hard to know what you’re really getting when you first sign up for a home loan. So it’s a good idea to check out our review portal where we’ve asked real HSBC customers to rate their home loans on everything from price and features to customer service and convenience.
Extremely happy with HSBC. I changed from NAB after a few poor experiences. I have saved thousands in interest and my experience has been positive. I'd highly recommend HSBC.
Extremely happy with HSBC. I changed from NAB after a few poor experiences. I have saved thousands in interest and my experience has been positive. I'd highly recommend HSBC.
Michael, New South Wales, reviewed 6 days ago
Need to keep asking to match reduced rates but they do respond quickly when asked for rate parity.
Need to keep asking to match reduced rates but they do respond quickly when asked for rate parity.
Michelle, Victoria, reviewed 22 days ago
Recently joined as they were the most competitive option. Customer service is shocking, I was on the phone for an hour and a half to work out if direct debit was set up and when the first payment would be. They were unable to answer my question. I...
Recently joined as they were the most competitive option. Customer service is shocking, I was on the phone for an hour and a half to work out if direct debit was set up and when the first payment would be. They were unable to answer my question. I felt it was a reasonably basic request. If they can’t deal with basics I have little hope they can handle anything else.
Claire, New South Wales, reviewed 20 days ago
I originally banked with Bank of Queensland (BoQ) however after a horrible experience with them I switched to HSBC. Best banking decision of my life. I had banked with BoQ for 23 years, even getting a mortgage with them. After a marriage break up...
I originally banked with Bank of Queensland (BoQ) however after a horrible experience with them I switched to HSBC. Best banking decision of my life. I had banked with BoQ for 23 years, even getting a mortgage with them. After a marriage break up I purchased a new property with my son, however after some consideration I wished to refinance so I could pay him out, however BoQ refused to do so because of my age, 63. I requested for them to put the reasoning in writing and they refused. After this I decided to switch to HSBC and the difference was obvious. They were so easy to deal with, they were extremely straight and honest when talking to me and allowed me to refinance. The best part is that I am now saving about $97 a month just by doing nothing. I want to give a big thank you to HSBC for having faith and seeing that a fit 63 year old man earning decent money is still a worthwhile person. As for BoQ, you have lost all faith from me and I would not recommend you to anyone.
Patrick, Queensland, reviewed 7 months ago
Priya, Victoria, reviewed almost 4 years ago
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To apply for a HSBC home loan, you’ll generally need to have the following details and documents handy:
Depending on your situation at the time of application, you may also need to provide some of these documents:
