| Product | Interest rate from | Comparison rate from | Upfront fee |
|---|---|---|---|
| Unsecured Personal Loan (Fixed) |
12.99% p.a. |
13.54% p.a.based on $30,000 |
$150.00 |
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.
Fixed interest rate: With the HSBC personal loan, the bank cannot increase the interest rate. Many people find that having a fixed interest rate is better for budgeting as they know each month what their outgoings are going to be.
Extra repayments allowed: On top of monthly regular repayments, customers can make additional contributions towards their HSBC personal loan whenever they like.
Range of loan terms: When it comes to paying down your HSBC personal loan, there is the choice of loan terms from 1 to 5 years - it’s all about what suits you and your budget.
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.
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.
I have taken loan on Apr-2019 Incorrect loan track record is maintaining at HSBC end against my loan, due to which i am paying around Rs 80000 extra interest. Whenever I call to customer care they are arranging call back from personal loan dept. but they do not have an idea how to calculate each month wise interest against loan. Now a days every thing is online and CA are available. I have cross verified my interest part with different channels. I have explained same to HSBC , but they are cheating and not providing solution since long time. I have raised request twice to nodel officer but they did not responded back for my request. After taking loan from HSBC i am struggling a lot. I need proper channel to escalate my issue.
Read full reviewI have taken loan on Apr-2019 Incorrect loan track record is maintaining at HSBC end against my loan, due to which i am paying around Rs 80000 extra interest. Whenever I call to customer care they are arranging call back from personal loan dept. but they do not have an idea how to calculate each month wise interest against loan. Now a days every thing is online and CA are available. I have cross verified my interest part with different channels. I have explained same to HSBC , but they are cheating and not providing solution since long time. I have raised request twice to nodel officer but they did not responded back for my request. After taking loan from HSBC i am struggling a lot. I need proper channel to escalate my issue.
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 reviewI 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.
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 reviewIf 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.
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 reviewI am a single father with 2 boys trying to make ends meet in this chaotic world I deserve a chance for me my boys