In times like these when there is an endless list of expenses, sometimes people consider taking a loan for their personal expenses. These personal loans can be for a wedding, financing a certain purchase and so on.
HSBC is one bank that you can consider when looking a personal loan with good interest rates. HSBC Bank also offers you some of the best payment terms. To apply for loans through the bank is also something that you can do quite easily.
To find out how you can easily apply for an HSBC personal loan, read on. Information on how you can apply for the loan online can also be found here. You also have a chance to find out how the rates for taking up a personal loan with the bank are.
Features and Benefits of the HSBC Personal Loan
Besides good interest rates and payment terms, HSBC also has many more benefits.
Quick Decision on the Loan
It has never been easy to find banks that will fast-track the decision on offering you a loan. But with HSBC, that’s exactly what you get.
HSBC will give you a decision on your loan application within just 5 days. It can be less at times as you can get the decision in as little as 2 days.
Quick Access to Cash
After a decision on your loan, the next thing that you should be looking at is the time it takes to have the loan cash into your account.
In general, with HSBC, the funds will be available in your account in just 3 working days at the most.
The amount you can get when you apply for a loan has always been an issue for most people. Here, you can get in a range of £1,000 to £25,000 when you apply for a personal loan.
Your credit score, in general, determines how much you get.
Interest rate is one of the major worries you have when it comes to taking a loan. So, how about having an APR that is as low as 2.9% for a personal loan? The representative APR for this loan is 3.3%, and it has zero overpayment fees.
Depending on your credit, that’s how low your APR can start from. The length of the loan also contributes. You have up to 8 years in some cases to clear your loan.
There are no overpayment fees, which means you can overpay for your loan if you have the extra amount. You don’t have to stick to the standard payment plan when you have extra money.
Eligibility and How to Apply
You have to be at least 18 years old before you can apply for a personal loan with HSBC. You should, however, not be more than 65 years old at the maturity of the loan. You then, have to be either fully employed or self-employed.
There are documents that you have to produce to validate the information you give. A list of the documents can be found on the HSBC website.
The first way you can apply for a loan with HSBC is by visiting one of the branches of the bank and filling out a loan form. This can be a hassle as you may have to deal with long waiting periods. Currently, with the COVID-19, the idea of going to a bank isn’t even possible.
One of the easiest ways that you can apply for a loan with HSBC is by filling out a form and applying for a loan online. You don’t even have to leave your home in order to get the funds into your account. You can log on and apply for your loan through HSBC’s official website.
If you’re part of the generation of mobile banking then HSBC doesn’t leave you behind when it comes to applying for a personal loan.
Just download the app through the Google Play Store for your Android phone and the App Store for your iOS phone. With just a few clicks you’ll have your loan application sorted.
To get in touch with the bank, you can call them at 000 44 1226 261010. The bank’s head office is at 8 Canada Square, London, E14 5HQ.
Applying for a personal loan with HSBC has never been as easy as it is today. You can easily apply for the loan through a number of methods and some of them involve you not even leaving your home.
Note: There are risks involved when applying for and using a loan. Consult the bank’s terms and conditions page for more information.