Established in 1865 and serving around 48 million customers, HSBC is proud to claim their position as the world’s largest banking and financial services organisations. The organization is present in 72 countries and territories including in Asia, North America, Latin America, Europe, Africa, the Middle East and Africa.
You’re probably eligible for an HSBC Housing Loan if you are
At least 21 years old
Less than 65 years old
Salaried / Self-employed
with regular income
Your HSBC Housing Loan amount eligibility is based on these factors
EMI limited to about 50%
of monthly income
Loan capped at P50,000,000
EMIs of other loans lower
Increase your eligiblility for HSBC Housing Loan amount by these steps
Make your spouse a co-applicant,
and her income will add
to your eligibility
Choose longer tenure loan up to 20 years
Alternatively add your parents
Documentation needed to apply for an HSBC Housing Loan
- 1.Duly filled housing loan application form
- 2.Photocopy of ID such as driver's license, passport, SSS ID, Postal ID, PRC ID etc
- 3. Copies of the last 6 months’ bank statements or deposit passbooks
- 4.Documentation for salaried applicants:
- Income Tax Return (ITR) copy with BIR or bank stamp of the last 1 year
- Original copy of Certificate of Employment
- Photocopy of last full month pay slip
- 5. Documentation for self Employed applicants:
- Photocopy of Business Certificate
- Income Tax Return (ITR) copy with BIR or bank stamp
HSBC Housing Loan DetailsUpdated on 05 Dec 2016
|Interest rate||4.99% - 6.75%|
|Margin of Finance||Up to 80%|
In the Philippines, HSBC has been present for over 140 years. Today the network consists of 15 branches in the country which are located in Davao, Metro Manila and Cebu.
HSBC Housing Loan have been helping Filipinos with all our housing related financial needs successfully for many years now. The organization’s global expertise have helped to recognize and serve in the best possible way for everything from purchasing, building, renovating and refinancing your existing home loan. Some of the topnotch benefits and flexible features that has made the HSBC Home Loan so popular among Filipinos are:
Features and Benefits - HSBC Housing Loan
- Save big when you get yourself a home loan from HSBC:
- Instant Recognition:
- Flexible Repayment Schemes
- Friendly Interest Review Dates/Repricing
- Choices of Currency
- A wide spectrum of Loanable Amounts to choose from
- Fast Processing
- Personalized Service
- Appropriately-timed loan releases
- Home Loan Calculator
With the HSBC Home Loan you get to save money for other purposes by offering rates as low as 4.99% per annum as well as a very low monthly amortization.
HSBC Housing Loan Interest rates
|For 1-year re-pricing||4.99% per annum|
|Fixed for the first 5 years||6.75% per annum|
You will be entitled to exclusive privileges which is available to HSBC Premier Clients when you open a Home Loan account of minimum amount of PHP 6,000,000. This is for a trial period of 2 years and includes a home loan preferential re-pricing discount of 1.00%. If you maintain the requisite Total Relationship Balance of PHP 4,000,000, you can continue to enjoy the HSBC Premier status even after the two year trial period.
It's easy to plan ahead when you get a HSBC Home Loan. You can easily forecast your amortization cost along with your other expenses if you choose the straight-line scheme. The other option is to go for the Reducing Balance option which will help you to save on interest payment.
Pick from annual, two years, three years or even five year interest rate repricing options. Visit the official website for best lending rates.
You can choose to either make your payments in Philippine Peso, US Dollars or Hongkong Dollars.
You can go for a loan amount between PHP700,000 and PHP50,000,000, or the Foreign Currency equivalent. Visit the official website for the mortgage calculator
Stay on top of your loan’s status with the quick feedback. Get an appointment with the Home Loan Specialist to figure out the timeline so you can plan ahead everything about your move into your new place.
The Home Loan Specialists will aid you in order for you to get the best deal and with the application of your home loan.
If you are planning to take out a loan for the construction of your home, HSBC Home Loan is one of the best deals that you can pick. The loan is designed to help you throughout the entire period of construction. The first release will help you with the value of the lot. The rest of the loan balance will be divided into three batches which can be used as the construction progresses.
By taking advantage of the property’s rising value, you can get a larger financing amount. This will let you pay off your current financing. Refinancing lets you enjoy:
Lower interest rates
Reduction of monthly instalments
Free up cash so you can use it for other purposes.
More flexible home loan/financing features such as ATM, cheque book and online banking facility
You can get access to the home loan calculator by logging on to the official website. It will not only give you a quick quotation on your installment payment, but will also answer the following questions:
Am I earning enough to be eligible to get the amount that I need as loan?
Based on the value of the property, how much can I borrow?
Based on my monthly income, how much can I borrow?
FAQ - HSBC Housing Loan
These are the acceptable property types:
- Lot and house which is covered by a Transfer Certificate of Title (TCT)
- Condominium unit which is covered by a Condominium Certificate of Title (CCT)
- Townhouse which is covered by a TCT or CCT
- Vacant lot which is meant to start construction of a private house within one year from date the first tranche is released.
- Accredited developers’ pre-sell residential properties
You can to pay by Auto Debit Arrangement (ADA). Once loan application is approved and account opening requirements agreements have been completed, ADA will be arranged.
For Home Mortgage Loan, the minimum tenor is 12 months and the maximum is 240 months or up to the date that the client turns 65 years old (upon loan maturity), whichever is earlier.
For Home Equity Loan, the minimum tenor is 12 months and the maximum is 120 months or up to the date that the client turns 65 years old (upon loan maturity), whichever is earlier. If you are a HSBC Savings Bank client, and have applied for a Foreign Currency denominated loan, the maximum loan tenor is up to 12 months.
Loan Tenor is the complete period within which you will be paying the monthly amortizations. If you choose to get a Home Loan from HSBC, the maximum loan tenor that you can get is 20 years for Home Mortgage Loan and 10 years for Home Equity Loan. However, if you are a HSBC Savings Bank client, and looking to avail a Foreign-currency loan, the maximum tenor that you can avail is 1 year only.
Repricing Period is the fixing period of your interest. You can choose between quarterly, 1 year, 2 years, 3 years and 5 years periods. Each of these offer different interest rates per repricing period.
You can discuss the next steps in taking out a loan with a Home Loan Specialist by calling (02) 85-800 or (02) 581-7676. The specialists will discuss with you and help you make a decision of which loan package will be ideal for you based on your needs.
More Read on HSBC Housing Loan:
Other Products from HSBC