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HSBC - Personal Loan

Unsecured | Fixed

The HSBC Personal Loan offers an advertised interest rate from 12.99% p.a. and a comparison interest rate from 13.54% p.a.. The HSBC Personal Loan is a Fixed rate, Unsecured loan with a borrowing range of between $5,000 and $50,000 and a loan repayment term of between 1 and 5 years.

More HSBC Personal Loan details can be found below or visit HSBC to learn more or apply.

Compare Personal LoansProduct Image For HSBC - Personal Loan - Unsecured | Fixed
An Unsecured loan with an advertised rate of 12.99% p.a. and comparison rate of 13.54% p.a.
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Advertised Rate

12.99% p.a. Fixed

Comparison Rate

13.54% p.a.

Loan Term

1 to 5 years

Borrowing Range

$5,000 to $50,000
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Interest

Rate Type
Fixed
Advertised Rate
12.99% p.a.
Fixed
Comparison Rate
13.54% p.a.
Application Frequency
Monthly
Calculation Frequency
Daily

Loan Security

Loan Security
Unsecured

Loan Terms

Loan Term
1 to 5
years
Borrowing Range
$5,000 to $50,000
Repayment
Monthly

Fees

Establishment Fee
$150
one off
Loan Service Fee
$5
per month
Early Repayment Fee
$199
per event

Who is the product designed for?

The target market for the HSBC Personal Loan are customers who are likely have the following objectives, needs, financial situation and eligibility criteria.

Objectives and Needs

Customers with any one or more of the following needs and objectives

  • Require a personal loan to:
    • achieve various life goals e.g., buying a car, property
      renovation, paying for a wedding, education, or holiday.
    • consolidate debts.
    • help manage cash flow.
  • Do not want to give security over any assets. The loan does not require any type of collateral.
  • Ability to pay off the loan over a chosen time frame and make
    additional repayments.

Financial Situation

Customers in all of the following financial situations

  • Require a credit facility between $5,000 to $50,000.
  • Earn a regular income.
  • Have a good credit rating and not be experiencing financial hardship or financial stress as identified through credit bureau checks carried out at the time of application.
  • Be able to make the fixed monthly repayment each month on their account without experiencing financial hardship.

Eligibility Criteria

To hold a personal loan, customers must be able to satisfy certain eligibility criteria, including that customers must:

  • Be aged 18 years or older
  • Be an existing HSBC Australia customer for at least 12 months; or have an existing Mortgage with HSBC; or hold HSBC Premier status at the time of application.
  • Be an Australian resident
  • Earn a regular income of at least AUD40,000 per year before tax
  • Have a good credit rating and not be experiencing financial hardship or financial stress as identified through credit bureau checks carried out at the time of application
  • Be able to service the proposed loan in accordance with the HSBC’s lending criteria and responsible lending obligations at the time of application.
Visit HSBC to view Target Market Determination Effective From: 2024-04-05.

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