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.
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.
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.
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.
While the loan is competitive across the board, watch out for the $150 application fee and $5 monthly service fee.
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
$150.00
$5.00
$30.00
$0.00
$199 ($0 in the last 6 months of loan term)
$5,000.00
$50,000.00
1 Year
5 Years
Unsecured
Monthly
yes
no
none
none
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.
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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