HSBC Variable Home Loan (Premier)

3.69% p.a.

3.70% p.a.

$35.00 monthly

3.99% p.a.

4.44% p.a.

$35.00 monthly

4.48% p.a.

4.92% p.a.

$35.00 monthly

4.43% p.a.

4.87% p.a.

$35.00 monthly

4.38% p.a.

4.83% p.a.

$35.00 monthly

HSBC Variable Home Loan (Premier) Review

Review published: 4 June 2018

What's hot:

  • Low 3.69% variable rate (3.70% comparison rate)

  • Free extra repayments and redraw available

  • Borrow up to 90% of the property’s value

What's not:

  • $300 application fee

Mozo snapshot:

With multiple Mozo Experts Choice Awards under its belt, HSBC know a thing or two about providing great value financial products. The HSBC Variable Home Loan (Premier) offers a low variable rate of 3.69% with a 3.70% comparison rate. While there is a $35 monthly service fee, you’ll be able make free extra repayments to your loan as well as have access to the free redraw facility and an offset account.


Key features:

The HSBC Premier Variable Home Loan is all about flexibility. With this loan, you’ll have a 3.69% variable rate and 3.70% comparison rate, plus the option to split your loan between fixed and variable rates if you ever want to lock in your rate.

Your can also pay your loan off on a schedule that suits you best - either weekly, fortnightly or monthly, while saving on interest with the free extra repayments feature and 100% offset account. And if you’re ever hit with an unexpected bill, you’ll be able to redraw any of these extra repayments for free.

You’ll need to factor the $300 application fee into your budget along with the $35 monthly service fee and while you are able to borrow with as little as a 10% deposit, remember that if you do you’ll have to pay Lenders Mortgage Insurance (LMI), as with any home loan.


Who it's good for:

The HSBC Variable Home Loan is a good choice for borrowers who are looking for a low rate loan of up to $7.5 million and want the flexibility and value of a few extra features, like the 100% offset account.

Any catches?

Even though this loan does have a maximum LVR of 90%, you will have to pay LMI if you apply with a deposit smaller than 20%. You will also need to consider whether the loan’s flexible features outweigh the $300 application fee and $35 monthly service fee.

How are HSBC home loans rated by the Mozo community?

Product Type Overall Rating Price Features Service Convenience Trust
7.1

Based on 32
HSBC home loans reviews

7.0 6.5 7.2 6.2 7.3

Read HSBC home loan reviews by the Mozo community

Latest reviews of HSBC Variable Home Loan (Premier)

HSBC

HSBC Variable Home Loan Special (Owner Occupier, Principal & Interest) (Premier) home loan review

Overall rating   7 / 10

Great bank

Good service

Full review

Good service

    Price   7 / 10

    Features   7 / 10

    Customer service   7 / 10

    Convenience   7 / 10

    Trust   7 / 10

Less

Priya (VIC), reviewed about 2 years ago

HSBC

HSBC Variable Home Loan Special (Owner Occupier, Principal & Interest) (Premier) home loan review

Overall rating   9 / 10

Best personalised service

We have received best personal service since the day of joining the bank. The bank manager and our personal bank officer always make it a point to come out and say hello, look after our needs and make us feel special. Therefore, despite the...

Full review

We have received best personal service since the day of joining the bank. The bank manager and our personal bank officer always make it a point to come out and say hello, look after our needs and make us feel special. Therefore, despite the inconvenience of having only one branch in the ACT, we are prepared to travel a bit further for the personalised service.

    Price   7 / 10

    Features   6 / 10

    Customer service   9 / 10

    Convenience   6 / 10

    Trust   9 / 10

Less

Sat (ACT), reviewed over 3 years ago

HSBC

HSBC Variable Home Loan Special (Owner Occupier, Principal & Interest) (Premier) home loan review

Overall rating   0 / 10

Totally nightmare, especially for first home buyer

- Always lie to customer's enquiries. - Missing documents for submission - Causing settlement delay - Never pick up phone calls - Occasionally do not reply email - Promised documents that will mail to you never arrive (more than a month...

Full review

- Always lie to customer's enquiries. - Missing documents for submission - Causing settlement delay - Never pick up phone calls - Occasionally do not reply email - Promised documents that will mail to you never arrive (more than a month waiting). Blaming AusPost's fault. - Never really follow-up your case and always response to you "it's processing" - Rude customer service (e.g. One of the RM from Camberwell branch said I don't have commonsense on property purchase and he knew that I was First home buyer)

    Price   3 / 10

    Features   0 / 10

    Customer service   0 / 10

    Convenience   0 / 10

    Trust   0 / 10

Less

Guest (VIC), reviewed over 4 years ago

HSBC

HSBC Variable Home Loan Special (Owner Occupier, Principal & Interest) (Premier) home loan review

Overall rating   8 / 10

Competitive rates along with good customer service

I have been getting good service from this bank for the last nine years and they have been reliable.

Full review

I have been getting good service from this bank for the last nine years and they have been reliable.

    Price   8 / 10

    Features   8 / 10

    Customer service   8 / 10

    Convenience   8 / 10

    Trust   8 / 10

Less

Mozo reviewer (VIC), reviewed almost 5 years ago

HSBC

HSBC Variable Home Loan Special (Owner Occupier, Principal & Interest) (Premier) home loan review

Overall rating   8 / 10

COMPETITIVE RATES & FIRST CLASS SERVICE

HSBC is an international bank which provides quality & comprehensive customer services, which surpasses the local banks. I go to HSBC for all my needs from home loan, deposit savings, credit card, foreign currency account & home insurance. Their...

Full review

HSBC is an international bank which provides quality & comprehensive customer services, which surpasses the local banks. I go to HSBC for all my needs from home loan, deposit savings, credit card, foreign currency account & home insurance. Their rates have always been competitive compared to local banks and customer service is efficient. Online security is tight with the security token in addition to customer password.

    Price   9 / 10

    Features   2 / 10

    Customer service   10 / 10

    Convenience   5 / 10

    Trust   10 / 10

Less

Mozo reviewer (NSW), reviewed almost 5 years ago

Mozo may receive a payment from financial providers listed on the site. Customer reviews are in no way affected by any commercial relationships Mozo has with providers. Reviewers may receive a voucher from Mozo in exchange for their review. Vouchers are given to all reviewers who meet our review guidelines regardless of the sentiment of their reviews.

Currently showing

Rates

  • 3.69% p.a.

  • n/a

  • 0 Months

  • none

  • 3.70% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees

  • $300.00

  • $0.00

  • $0.00

  • $150.00

  • none

  • $35.00 monthly

  • $300.00

Other financial bits

  • $500,000

  • $7,500,000

  • none

  • 90.00%

Features

  • Owner Occupier

  • Principal & Interest

  • Weekly, Fortnightly, Monthly

  • yes - free

  • no

  • yes - free

  • $0.00

  • yes

  • yes

  • none

  • none

Rates

  • 3.99% p.a.

  • n/a

  • 0 Months

  • none

  • 4.44% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees

  • $300.00

  • $0.00

  • $0.00

  • $150.00

  • none

  • $35.00 monthly

  • $300.00

Other financial bits

  • $500,000

  • $7,500,000

  • none

  • 90.00%

Features

  • Owner Occupier

  • Interest Only

  • Weekly, Fortnightly, Monthly

  • yes - free

  • no

  • yes - free

  • $0.00

  • yes

  • yes

  • none

  • none

Rates

  • 4.48% p.a.

  • n/a

  • 0 Months

  • none

  • 4.92% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees

  • $300.00

  • $0.00

  • $0.00

  • $150.00

  • none

  • $35.00 monthly

  • $300.00

Other financial bits

  • $500,000

  • $749,999

  • none

  • 90.00%

Features

  • Owner Occupier

  • Principal & Interest, Interest Only

  • Weekly, Fortnightly, Monthly

  • yes - free

  • no

  • yes - free

  • $0.00

  • yes

  • yes

  • none

  • none

Rates

  • 4.43% p.a.

  • n/a

  • 0 Months

  • none

  • 4.87% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees

  • $300.00

  • $0.00

  • $0.00

  • $150.00

  • none

  • $35.00 monthly

  • $300.00

Other financial bits

  • $750,000

  • $1,499,999

  • none

  • 90.00%

Features

  • Owner Occupier

  • Principal & Interest, Interest Only

  • Weekly, Fortnightly, Monthly

  • yes - free

  • no

  • yes - free

  • $0.00

  • yes

  • yes

  • none

  • none

Rates

  • 4.38% p.a.

  • n/a

  • 0 Months

  • none

  • 4.83% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees

  • $300.00

  • $0.00

  • $0.00

  • $150.00

  • none

  • $35.00 monthly

  • $300.00

Other financial bits

  • $1,500,000

  • $7,500,000

  • none

  • 90.00%

Features

  • Owner Occupier

  • Principal & Interest, Interest Only

  • Weekly, Fortnightly, Monthly

  • yes - free

  • no

  • yes - free

  • $0.00

  • yes

  • yes

  • none

  • none

About HSBC

HSBC in Australia is part of the HSBC Group, one of the world's largest banking and financial services organisations. HSBC has products for every money need you can think of, including savings accounts and term deposits for your day-to-day money management, a suite of home loans to finance your dream home, plus credit card and personal loan options. With branches all over the world, HSBC is the world's local bank!

*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.

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