Apply today and enjoy an affordable loan rate of As low as 3.7% (EIR 7%)

HSBC Personal Loan

  • Longest loan tenor of up to 7 years.
  • Quick decision based on 1-minute approval in-principle.
  • Cash the next day upon submission of complete documents.
  • Enjoy a loan amount of up to 8 times your monthly income or up to S$200,000.

Enjoy a Personal Loan from as low as 3.7% (EIR 7%).

  • Review Text
  • Loan Details
  • Lender Details

Loan Review

The HSBC Personal Loan is one of the most comprehensive loan products on the market, providing consumers with a loan that is suited to your everyday needs. With one of the longest loan tenor of up to 7 years, no guarantor or collateral required and extra cash of up to 8x times your monthly salary. With a quick decision based on 1-minute approval-in-principle, the HSBC personal loan offers one of the lowest interest rates. In addition, HSBC is currently offering $0 processing fee waiver for online applications.

The following additional highlights are worth taking note of with the current offer:

  • Minimum approved loan amount of $5,000.
  • Minimum annual income of s$30,000 a year (Singaporeans and Singapore Permanent Residents).
  • Must be aged 21 to 65 years.
  • Foreigners must have an annual income of S$40,000 or more.
  • Foreigners must hold an Employment Pass with at least 12 months’ validity.
  • Quick decision based on 1-minute approval-in-principle.
  • Minimum loan tenor of 1 year and the longest loan tenor of up to 7 years.
  • Cash the next day upon submission of complete documents.
  • Loan amount of up to 8 times your monthly income*.
  • Note that the rates provided to you are customised and might differ from what’s displayed.

*Singaporeans and Singapore Permanent Residents with an annual income of between S$30,000 and S$120,000 will have a total loan amount capped at up to four times your monthly salary. For Singaporeans and Singapore Permanent Residents with an annual income of at least S$120,000, the total loan amount for HSBC Personal Loan will be capped at up to eight times your monthly income,  subject to a maximum of S$200,000, or an amount HSBC may in its discretion determine.

*Foreigners residing in Singapore, with a minimum annual income of S$40,000 will be capped at up to four times your monthly salary, subject to a maximum of S$100,000, or an amount HSBC may in its discretion determine.

Fees & charges

  • Processing fee: 1% of approved loan amount, subject to a minimum of S$88.
  • Early repayment fee: 2.5% of the redemption amount.
  • Overdue interest: 2.5% + prevailing interest4 on overdue amount.
  • Late payment fee: S$75 for each monthly repayment that is not received in full by the monthly repayment due date.

Loan Details

For salaried employees:

  • Photocopy of NRIC (front and back).
  • Latest 3 months’ computerised payslips OR latest Notice of Assessment with latest 1 month’s payslip OR latest 6 months’ CPF statement.
  • For self-employed/commission-based earners: Photocopy of NRIC (front and back).
  • Last 2 years’ Notice of Assessment.

For foreigners:

  • Passport
  • Employment Pass (with a validity of at least one year).
  • Latest 3 months’ computerised payslips OR latest Notice of Assessment with latest 1 month’s payslip OR latest 6 months’ CPF statement.

You can now print your Notices of Assessment at myTax Portal with your SingPass or IRAS PIN. This service is free. Log on to https://mytax.iras.gov.sg for more details.

EnjoyCompare is an independent information provider. It is not a bank or financial services provider, and cannot give direct financial advice. The content of the comparison website provided by EnjoyCompar is provided “as is” for general information purposes only. It does not constitute advice nor does any part of the content constitute an open offer capable of forming the basis of a contract. It is up to the user to ensure information is accurate at the point of submitting an application on the supplier’s website.

Lender Details

HSBC prides itself as the largest global bank with over 4000 offices in more than 70 countries. Their extensive business network stretches across 5 continents and HSBC has a presence in Asia, Europe, the Americas and Africa

The worldwide services encompass Wealth Management, Commercial, Retail and Private Banking.

EnjoyCompare Rating 4 out of 5 Rating Image Based on 1,102 reviews 

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