6.6 / 10

based on 1253 HSBC reviews as rated by Mozo community

HSBC personal loans

HSBC has a personal loan which you can use for a range of purposes from buying a new car, taking an extended overseas holiday or to consolidate debt. Below is a summary of the key aspects of an HSBC personal loan along with answers to FAQs. If you’d like to compare HSBC with other personal loan providers in our database, see our personal loan comparison tools.

HSBC offers the following personal loans

Rates and fees verified as correct at 13 April, 2021. Other information correct at the time of writing. Advertiser disclosure.

Product Interest rate from Comparison rate from Upfront fee
Unsecured Personal Loan (Fixed)

8.50% p.a.to 16.99% p.a.

9.06% p.a.to 17.53% p.a.based on $30,000
over 5 years

$150

What personal loans does HSBC offer? 

Unsecured Personal Loan 

The HSBC personal loan is an unsecured loan which means that you do not have to offer up security for the loan. It also has a fixed interest rate - so for the duration of the loan your repayments will stay the same. 

With this loan, you will be able to borrow up to $50,000 with an HSBC personal loan between 1 and 5 years. Customers are required to make monthly repayments, but can make extra repayments whenever they want. Just be mindful, HSBC has an early repayment fee of $199 but if there is less than 6 months left on the loan there is no penalty.

In addition to a loan application fee there is a small monthly fee payable. Plus, if you make a late payment there will also be a charge for this. To avoid late fees, it is a good idea to set up automatic repayments each month from your bank account.  

HSBC personal loan features at a glance 

How do you apply for a HSBC loan? 

If you apply for your personal loan online, HSBC says the application process takes around 10 minutes. Once you’ve completed the application you can get instant approval within 60 seconds. You can track your application via the HSBC site but it will usually take a few business days to process. If you need approval fast, you can also call HSBC and speak with a loan specialist.

You’ll need to have ID, proof of income and employment as well as proof of your address by supplying a copy of your driver’s licence or utility bill.   

And remember, you’ll need to be over the age of 18 years, earn at least $30,000 annually and have a good credit rating. We advise all borrowers prior to applying for a personal loan to check their credit rating to ensure that all the information is correct.

How are HSBC personal loans rated?

Mozo users have rated HSBC personal loans on price, features, convenience, trust and customer service so you can see what real Aussies have to say about their experiences.

Icon of personal-loans
HSBC personal loans
Overall
6.6/10
Price
Features
Customer service
Convenience
Trust

20 Reviews

Recent HSBC personal loan reviews

HSBC Unsecured Personal Loan review
Overall 10/10
Great service and rate.

I researched to find the best rate with a bank that I felt I could trust. HSBC were the best option for me. They provide me with updates, statements and reminders via email and text message. I have the flexibility to pay off additional amounts and reduce the term of the loan.

Read full review

I researched to find the best rate with a bank that I felt I could trust. HSBC were the best option for me. They provide me with updates, statements and reminders via email and text message. I have the flexibility to pay off additional amounts and reduce the term of the loan.

Price
10/10
Features
10/10
Customer service
10/10
Convenience
10/10
Trust
10/10
Less
Josephine, South Australia, reviewed over 1 year ago
HSBC Personal Loan review
Overall 4/10
They are only interested in a bit more money

If I pay off the loan early I pay a fee. As I am paid fortnightly, I am paying half of my monthly repayment each fortnight but the are two months in the year when there are three fortnightly pays. I must be going to pay my loan early and so the bank when make the early payment fee.

Read full review

If I pay off the loan early I pay a fee. As I am paid fortnightly, I am paying half of my monthly repayment each fortnight but the are two months in the year when there are three fortnightly pays. I must be going to pay my loan early and so the bank when make the early payment fee.

Price
6/10
Features
3/10
Customer service
5/10
Convenience
5/10
Trust
4/10
Less
Malcolm, New South Wales, reviewed almost 6 years ago
HSBC Personal Loan review
Overall 8/10
Battler of earth

I am a single father with 2 boys trying to make ends meet in this chaotic world I deserve a chance for me my boys

Read full review

I am a single father with 2 boys trying to make ends meet in this chaotic world I deserve a chance for me my boys

Price
9/10
Features
9/10
Customer service
8/10
Convenience
8/10
Trust
9/10
Less
Cameron , , reviewed over 6 years ago
HSBC Personal Loan review
Overall 7/10
Very satisfactory

The Bank is trustworthy and operates very professionally and has access world wide. A good bank to deal with.

Read full review

The Bank is trustworthy and operates very professionally and has access world wide. A good bank to deal with.

Price
5/10
Features
5/10
Customer service
7/10
Convenience
5/10
Trust
7/10
Less
Barry, Western Australia, reviewed almost 7 years ago

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