• HSBC Personal Loan

    HSBC Personal Loan

    The Hong Kong & Shanghai Banking Corporation or HSBC as popularly known, needs no introduction. A global banking giant, HSBC serves over 48 million customers worldwide with a network that covers 72 countries across all the continents.

    You’re probably eligible for an HSBC Personal Loan if you are

    HSBC Personal Loan Minimum Age

    At least 21 years old

    HSBC Personal Loan Maximum Age

    Less than 60 years old

    HSBC Personal Loan Eligible Employment Type

    Salaried or self-employed
    with regular income

    HSBC Personal Loan Minimum Income

    Earn more than the minimum
    income required

    Your HSBC Personal Loan amount eligibility is based on these factors

    HSBC Personal Loan Minimum Salary

    Minimum income required
    P14000 per month

    HSBC Personal Loan Maximum Loan Funded

    Maximum allowed personal loan is P500000

    HSBC Personal Loan EMI

    EMIs of other loans lower
    your eligibility

    Increase your eligible HSBC Personal Loan amount by these steps

    HSBC Personal Loan Payoff Outstanding Credit Card Bills

    Pay off your credit card bills

    HSBC Personal Loan Tenure

    Choose longer tenure loan up to 3 years

    Documentation needed to apply for HSBC Personal Loan

    • 1.Copy of any ID Proof
    • 2.Employment Details
    • 2.Documentation for salaried applicants: (Anyone)
      • Photocopy of latest 3 months payslip latest Income Tax Return(ITR) with 1 month payslip
      • latest Income Tax Return(ITR) with 1 month payslip
    • 3. Documentation for self Employed applicants:
      • Photocopy of latest 2 years ITR with matched Audited Financial Statement(AFS)

    HSBC Personal Loan DetailsUpdated on 20 Jun 2018

    HSBC Personal Loan Details
    Interest Rate EIR 2.17% to 3.00%(p.m)
    Tenure 6 months to 3 years
    Guarantor Requirement No guarantor Required
    Processing Fee P1500

    Overview of HSBC Personal Loan

    HSBC provides a full range of banking products and financial services to thousands of Filipinos, serving through a wide network of branches across the island nation. In the consumer loans division, the banks provides personal loans at competitive rates and terms. Its loan bandwidth is quite huge as one can avail a loan of up to P500,000 to meet an array of personal needs such as paying for tuition, vacation, debt repayment, hospitalization, renovation, car purchase or any other need under the sun as long as it's legally accepted.

    Over the last decade or so, Personal Loans have become the most sought after credit instrument in the loan market owing to its simplicity and approachability. Since they do not require a collateral and do not burn a hole in your wallet in terms of the costs involved, this loan can be the ideal answer to all the financial requirements. It only gets better with the HSBC Personal Loan where it comes laden with top notch features and benefits.

    Why opt for HSBC Personal Loan

    With HSBC, you can be eligible to get a pre qualified loan for a low monthly add on rate of 0.83 percent only. Opt for this loan if you’re looking for credit that comes at fast approval, flexible loan terms and easy payment channels. You can also be assured of a sound after sales service offered by an international bank that is renowned around the world for its delightful customer service. Since the bank offers a loan amount ranging anywhere between P30,000 to P500,000, you can be quite sure of getting answers for your immediate financial needs at one short.

    Features of HSBC Bank Personal Loan

    Quick Approval

    Personal loan application status and approval process is concluded in five working days after submitting the required application documents. This turnaround time speaks volumes of the commitment the bank has in processing applications. It also helps in case you’ve a time sensitive requirement that needs an early financial intervention.

    Flexible Terms

    Custom made and personalized loan terms enable the customer to choose to repay their loan within a period of 6 - 36 months as per their financial convenience. The term options available under this loan are 6, 12, 18, 24, or 36 months.

    Close at Hand Payment Channels

    Amortization payments can be made at the numerous HSBC payment centers which are situated across the country. You can also choose intervention free payment channels such as Auto Debit Arrangement(ADA).

    Maximum Financing

    Depending on your eligibility, get a loan of up to 3x monthly gross salary minus all liabilities. With this loan, you don’t have to worry about limiting your dreams of getting the best loan amount.

    Low Interest Rates

    At just 0.83 percent per month, this loan from HSBC is one of the most cost effective loans in the market today. If you’re looking for a Personal Loan that does not come with heavy duty interest charges, this can be your ideal choice.

    Interest Rates for HSBC Personal Loan

    Loan Tenor Add-on Rate Effective Rate
    6 1.29% to 1.79% 2.17% to 3.00%
    12 1.22% to 1.71% 2.17% to 3.00%
    18 1.21% to 1.72% 2.17% to 3.00%
    24 1.22% to 1.74% 2.17% to 3.00%
    36 1.25% to 1.80% 2.17% to 3.00%


    Loan Amount(p) 6 Months 12 Months 18 Months 24 Months 36 Months
    30000 5,386 to 5,538 2,866 to 3,014 2,031 to 2,181 1,616 to 1,771 1,209 to 1,374
    40000 7,181 to 7,384 3,821 to 4,018 2,707 to 2,908 2,155 to 2,362 1,612 to 1,832
    50000 8,977 to 9,230 4,777 to 5,023 3,384 to 3,635 2,694 to 2,952 2,015 to 2,290
    60000 10,772 to 11,076 5,732 to 6,028 4,061 to 4,363 3,232 to 3,543 2,417 to 2,748
    70000 12,567 to 12,922 6,687 to 7,032 4,738 to 5,090 3,771 to 4,133 2,820 to 3,206
    80000 14,363 to 14,768 7,642 to 8,037 5,415 to 5,817 4,310 to 4,724 3,223 to 3,664
    90000 16,158 to 16,614 8,598 to 9,042 6,092 to 6,544 4,849 to 5,314 3,626 to 4,122
    100000 17,953 to 18,460 9,553 to 10,046 6,768 to 7,271 5,387 to 5,905 4,029 to 4,580
    150000 26,930 to 27,690 14,330 to 15,069 10,153 to 10,906 8,081 to 8,857 6,044 to 6,871
    200000 35,906 to 36,920 19,106 to 20,092 13,537 to 14,542 10,775 to 11,809 8,058 to 9,161
    250000 44,883 to 46,149 23,883 to 25,116 16,921 to 18,177 13,469 to 14,762 10,073 to 11,451
    300000 53,859 to 55,379 28,659 to 30,139 20,305 to 21,813 16,162 to 17,714 12,087 to 13,741
    350000 62,836 to 64,609 33,436 to 35,162 23,689 to 25,448 18,856 to 20,667 14,102 to 16,031
    400000 71,813 to 73,839 38,212 to 40,185 27,073 to 29,083 21,550 to 23,619 16,116 to 18,322
    450000 80,789 to 83,069 42,989 to 45,208 30,458 to 32,719 24,244 to 26,571 18,131 to 20,612
    500000 89,766 to 92,299 47,765 to 50,231 33,842 to 36,354 26,937 to 29,524 20,145 to 22,902

    Types of Personal Loan offered by HSBC

    At present, the bank only offers unsecured type of Personal Loan which means no collateral is required to secure the loan amount. The loan is approved purely on the basis of the applicant’s income and background.

    Eligibility Criteria for HSBC Bank Personal Loan

    • Applicant must fall in the age group of 21-60 years.
    • The minimum monthly salary requirement is 14,000.
    • Guarantor or Collateral is not required.
    • He/ She should be a citizen or a resident of the Philippines.

    HSBC Bank Personal Loan Requirements

    Salaried Individuals

    •Latest Payslip(1 month)

    •Latest ITR/BIR/W-2/ any other documents

    •Valid Photo ID that contains date of birth and nationality

    •Residence proof

    •Duly signed terms and conditions with Global Consent Clause

    •If the applicant is a Foreigner, a copy of resident Visa or non-resident visa approved by BSP.

    Self-Employed Individuals

    •ITR along with last 3 years Audited Financial Statements.

    •DTI Certificate of Registration/SEC.

    •Last 3 months bank statements.

    •ID Proof and Proof of Residence

    •Business or Mayor’s permit.

    •If the applicant is a Foreigner, a copy of resident Visa or non-resident Visa approved by BSP.

    How to Calculate Loan Repayment for HSBC Personal Loan?

    A Personal Loan can be a long term commitment if you’ve decided to go for a bigger term to balance you’ve monthly finances. As a well informed decision maker and to ensure minimal challenges in the future during the term of the loan, it's paramount understand what you would be paying and the total costs incurred.

    The Personal Loan calculator available on this website helps in achieving these objectives. The tool helps in getting a comprehensive view of the financials involved such as the exact EMI amount, total finance charges paid, Amortization details and so on. By simply keying in details such as the proposed loan amount, rate of interest and the tenor, you can easily navigate and get the desired outputs in seconds. The calculation is automated and presents the data in a manner that is easy to understand. Follow the instructions to get the relevant output. A highly recommended tool before availing a Personal Loan.

    Fees and Charges

    • A Processing Fee of P1,500 is charged towards handling of application and paperwork that will be deducted from the loan proceeds.
    • For every P200 of the approved loan amount, P1.00 is deducted as Documentary Stamp Tax.
    • A fee of P500.00 is billed per amendment for modification of loan details.
    • A monetary penalty is also applicable upon pre-termination of the loan, details of which is available on the website of HSBC Philippines.

    Other Products from HSBC

    News About HSBC Personal Loan

    • HSBC Forecasts Local Economy to Grow 5.6 Percent in 2016

      On the basis of accelerated state spending, HSBC (Hong Kong Shanghai Banking Corp.) has forecasted the local economy to grow at the rate of 5.8 percent in 2016. It also projects the GDP (Gross Domestic Product) expansion to hover between 6.8 to 7.8 percent. Services and industry have seen a steady growth from a supply perspective. However, the output from the agricultural sector has seen a decline owing to drought induced by El-Nino.

      The last quarter of 2015 saw a steady rise in GDP to 6.3 percent, predominantly owing to acceleration in government spending. Remittances from Overseas Filipino Workers is also expected to make moderate contributions to the economy. According to BSP (Bangko Sentral ng Pilipinas), foreign remittances will see a rise of 4 percent annually, until 2019.

      18th February 2016

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