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HSBC Unsecured Personal Loan

Advertiser disclosure
Interest rate from
8.50% p.a.to 16.99% p.a.
Comparison rate from
9.06% p.a.to 17.53% p.a.based on $30,000
over 5 years
Upfront fee
$150

Mozo editorial review HSBC Unsecured Personal Loan

Last updated: 9 July 2020.

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What's hot
  • Interest rates from 8.50% (9.06% comparison rate*)
  • Free extra repayments
  • Loan options from 1 to 5 years
What's not
  • $150 application fee
Mozo snapshot

So you’re looking for a loan, but don’t have any assets you can use as collateral? Well that’s no problem at all! HSBC Unsecured Personal Loan allows for you to borrow $5,000 - $50,000 on a fixed interest rate as low as 8.50% (9.06% comparison rate*), without any security needed. They also allow you to choose your loan term between 1 and 5 years.

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Key features

HSBC Unsecured Personal Loan comes with a fixed interest rate starting from 8.50% (9.06% comparison rate*). The interest rate available to you is dependent on your credit score and the specifics of your loan. Bear in mind, if you fall on the lower end of the scale with your credit history, fixed rates go up to 16.99% (17.53% comparison rate*). 

Loan terms range from 1 to 5 years, and you’ll make repayments on a monthly basis.

While the loan comes with ability for extra repayments, keep in mind that there’s no extra cost to pay it off completely in the last 6 months, but anytime before then will come with $199 early repayment penalty.

And on the subject of fees, when you apply for the loan remember to budget for the $150 for the application fee and $5 monthly service fee.

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Who is it good for

This loan could be suited to those without assets like a house or car to put up as security and borrowers with excellent credit will be able to score this loan with a competitive rate.

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Any catches

While the loan is competitive across the board, watch out for the $150 application fee and $5 monthly service fee.

Details

Rates and fees information correct as at 29 November 2020. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • Fixed

  • 8.50% p.a.to 16.99% p.a. fixed

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

Fees
  • $150.00

  • $5.00

  • $30.00

  • $0.00

  • $199 ($0 in the last 6 months of loan term)

Other financial bits
  • $5,000.00

  • $50,000.00

  • 1 Year

  • 5 Years

  • Unsecured

Features
  • Monthly

  • yes

  • no

  • none

  • none

WARNING: The Comparison Rate combines the lender's interest rate, fees and charges into a single rate to show the true cost of a personal loan. The comparison rates displayed are calculated based on a loan of $30,000 for a term of 5 years or a loan of $10,000 for a term of 3 years as indicated, based on monthly principal and interest repayments, on a secured basis for secured loans and an unsecured basis for unsecured loans. 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.

Customer Reviews

How are HSBC personal loans rated by the Mozo community?

Overall
6.6/10
Price
6.3/10
Features
5.9/10
Customer service
6.6/10
Convenience
5.7/10
Trust
7.1/10

Latest review of HSBC Unsecured Personal Loan

  • 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 about 1 year ago
HSBC

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!

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