HSBC Unsecured Personal Loan comes with a fixed interest rate that can be as low as 9.50% (10.06% 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.
Who it's good for:
This loan is 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.