HSBC home loans

3.3
Based on 141 HSBC home loan product reviews.
Fact Checked
Last updated

About HSBC home loans

HSBC offers a range of home loans in Australia, starting with the Home Value Loan (Variable) for those looking for a simple option with a compelling interest rate. There’s also the Standard Variable Rate Home Loan which adds an offset account, and the Fixed Rate Home Loan if you want to limit your vulnerability to potential rate rises.

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Editor’s pick: HSBC Home Value Loan (Variable)

Discounted Home Value Loan

  • Owner Occupier
  • Principal & Interest
  • LVR 70-80%
Interest rate
6.09 % p.a.
Variable
Comparison rate
6.09 % p.a.
  • Mozo Experts Choice 2024 award winner

  • Competitive interest rates across the board

  • Unlimited free extra repayments

  • Free redraws

  • No offset account

  • $300 variation fee

  • $300 discharge fee

Our verdict

HSBC’s Home Value Loan walked away with a Mozo Experts Choice Award for Low Cost Home Loan in 2024, and that’s all thanks to its highly competitive interest rates across the board.

Those with a deposit of at least 20% – which gives you a loan-to-value ratio (LVR) of 80% – can access a variable rate of 6.09% p.a. That’s substantially lower than the current average variable rate of 6.75% p.a. (as at 15 October, 2024).

HSBC is even more compelling for those with a deposit of 40% or more, as an LVR of 60% or less will get you down to a variable rate of 5.99% p.a. – that could make it a good option for those looking to refinance.

The drawbacks are that there’s no offset account attached to this loan, and there are fees you should be aware of before applying. For instance, you’ll need to pay a $300 variation fee anytime you make changes to your loan, and HSBC will pass on the cost of your property valuation to you.

While it doesn’t come with an offset account, borrowers can benefit by making extra repayments at no cost, with the ability to redraw those additional payments anytime without penalty.

Where do I get it? Learn more about HSBC’s Home Value Loan.
Mozo may receive payment if you click products on our site. We don’t compare the entire market, but you can compare more home loans here.
Last updated 25 October 2024 Important disclosures and comparison rate warning*

HSBC home loans

  • Fixed Rate Home Loan

    • Owner Occupier
    • Principal & Interest
    • LVR <60%
    Interest rate
    5.59 % p.a.
    Fixed 5 years
    Comparison rate
    6.27 % p.a.
    Initial monthly repayment
    $2,867

    Get repayment certainty with HSBC’s low 2 Year Fixed Rate Home Loan. Make up to $10,000 of extra repayments a year. The option to split your home loan between fixed and variable. Plus, score $3,288 cashback when you refinance an existing home loan of $250,000. Must apply by 28 February 2023 and settle by 30 April 2023.

  • Fixed Rate Home Loan

    • Investment
    • Principal & Interest
    • LVR <60%
    Interest rate
    5.79 % p.a.
    Fixed 5 years
    Comparison rate
    6.45 % p.a.
    Initial monthly repayment
    $2,931
    Link not supplied

  • Discounted Home Value Loan

    • Owner Occupier
    • Principal & Interest
    • LVR <60%
    Interest rate
    5.99 % p.a.
    Variable
    Comparison rate
    5.99 % p.a.
    Initial monthly repayment
    $2,995

    Enjoy competitive rates for owner occupiers. Enjoy unlimited free extra repayments. Flexibility to redraw additional payments for free. No ongoing monthly service fee. Receive $3,288 cashback when you refinance an existing home loan. Minimum loan amount of $250,000, settle within 120 days from applying.

  • Fixed Rate Home Loan

    • Owner Occupier
    • Principal & Interest
    • LVR <80%
    Interest rate
    5.99 % p.a.
    Fixed 5 years
    Comparison rate
    6.95 % p.a.
    Initial monthly repayment
    $2,995
    Link not supplied

  • Standard Variable Rate Home Loan

    • Owner Occupier
    • Principal & Interest
    • LVR <60%
    Interest rate
    6.14 % p.a.
    Variable
    Comparison rate
    6.51 % p.a.
    Initial monthly repayment
    $3,043
    Link not supplied

  • Discounted Home Value Loan

    • Investment
    • Principal & Interest
    • LVR <60%
    Interest rate
    6.19 % p.a.
    Variable
    Comparison rate
    6.19 % p.a.
    Initial monthly repayment
    $3,059
    Link not supplied

  • Standard Variable Rate Home Loan

    • Owner Occupier
    • Principal & Interest
    • LVR <60-70%
    Interest rate
    6.19 % p.a.
    Variable
    Comparison rate
    6.56 % p.a.
    Initial monthly repayment
    $3,059
    Link not supplied

  • Fixed Rate Home Loan

    • Investment
    • Principal & Interest
    • LVR <80%
    Interest rate
    6.19 % p.a.
    Fixed 5 years
    Comparison rate
    7.14 % p.a.
    Initial monthly repayment
    $3,059
    Link not supplied

  • Home Smart Loan (Owner Occupier, <80% LVR

    Interest rate
    6.24 % p.a.
    Variable
    Comparison rate
    6.60 % p.a.
    Initial monthly repayment
    $3,075
    Link not supplied

  • Standard Variable Rate Home Loan

    • Investment
    • Principal & Interest
    • LVR <60%
    Interest rate
    6.34 % p.a.
    Variable
    Comparison rate
    6.70 % p.a.
    Initial monthly repayment
    $3,108
    Link not supplied

  • Standard Variable Rate Home Loan

    • Investment
    • Principal & Interest
    • LVR 60-70%
    Interest rate
    6.39 % p.a.
    Variable
    Comparison rate
    6.75 % p.a.
    Initial monthly repayment
    $3,124
    Link not supplied

  • Home Smart Loan

    • Investment
    Interest rate
    6.44 % p.a.
    Variable
    Comparison rate
    6.79 % p.a.
    Initial monthly repayment
    $3,141
    Link not supplied

  • Home Smart Loan

    • Owner Occupier
    Interest rate
    6.54 % p.a.
    Variable
    Comparison rate
    6.90 % p.a.
    Initial monthly repayment
    $3,174
    Link not supplied

  • Home Smart Loan

    • Owner Occupier
    Interest rate
    8.76 % p.a.
    Variable
    Comparison rate
    8.77 % p.a.
    Initial monthly repayment
    $3,937
    Link not supplied

  • Home Smart Loan

    • Investment
    Interest rate
    9.38 % p.a.
    Variable
    Comparison rate
    9.39 % p.a.
    Initial monthly repayment
    $4,161
    Link not supplied

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HSBC home loan ratings

Overall customer rating for HSBC home loans

3.3
Based on 141 product reviews.

Customer reviews

Important disclosures

HSBC products

HSBC home loans: FAQs

Who owns HSBC Australia?

HSBC Australia is a subsidiary of international bank HSBC. It began operating in Australia in 1965, and was awarded a commercial licence in 1986. HSBC now has a small number of branches and offices in Sydney, Melbourne, Brisbane and Perth.

How much money can I borrow from HSBC Australia?

HSBC’s home loans allow you to borrow anywhere from $50,000 up to $15 million, subject to approval.

Do HSBC home loans come with an offset account?

If you’re looking for a HSBC home loan with an offset account, it’s available with the bank’s Standard Variable Rate Home Loan.

Does HSBC offer repayment holidays?

If you’re experiencing financial hardship, HSBC can work with you to offer some relief. One option available to you is a home loan repayment holiday, which is when your lender temporarily pauses payments on your mortgage.

Does HSBC offer split home loans?

A split home loan is when your loan is separated into two portions – one with a fixed interest rate and the other with a variable interest rate.

HSBC does offer split home loans, so speak to your home loan representative if it’s something you’re interested in.

Home loan quick links


* WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

** Initial monthly repayment figures are estimates only, based on the advertised rate. You can change the loan amount and term in the input boxes at the top of this table. Rates, fees and charges and therefore the total cost of the loan may vary depending on your loan amount, loan term, and credit history. Actual repayments will depend on your individual circumstances and interest rate changes.

^See information about the Mozo Experts Choice Home Loan Awards

Mozo provides general product information. We don't consider your personal objectives, financial situation or needs and we aren't recommending any specific product to you. You should make your own decision after reading the PDS or offer documentation, or seeking independent advice.

While we pride ourselves on covering a wide range of products, we don't cover every product in the market. If you decide to apply for a product through our website, you will be dealing directly with the provider of that product and not with Mozo.