HSBC Personal Loans review
Competitive rates and fast funding — but only for borrowers with good credit.
- Best for borrowers who want fast turnaround and few fees.
- Pick something else if you need a larger loan amount.
Max. Loan Amount
6.99% to 22.99%
Min. Credit Score
First, am I eligible?
You must meet the following requirements at a minimum to qualify for an HSBC Personal Loan:
- 640 credit score or higher
- Not live in Wisconsin or any US territory
- Permanent US resident with a Social Security number and US address
- 18 or older
- Competitive rates. HSBC’s maximum rate is lower than what many personal loan providers offer.
- Fast turnaround. You can receive your funds in your HSBC account immediately when applying in person as an existing HSBC customer. And new HSBC customers can apply online and get their money in just one business day after approval.
- Few fees. There’s no application, origination or prepayment fees.
- No repayments for 50 days. You don’t have to repay your loan for nearly two months after signing your loan documents.
- Check your rate without hurting your credit. HSBC only conducts a hard credit check after you submit your full application.
- May need to apply in person. If you already bank with HSBC, you’ll need to fill out an application in person.
- Restrictions on use. You can’ t use this loan to pay for college, buy or invest in real estate or to fund a business.
- Low maximum amount. You can only borrow up to $30,000 if you’re a new customer — on the low end for a personal loan.
- No Wisconsin or US territory residents. The only places where this loan isn’t available is in Wisconsin or any US territory.
- Interest starts accruing immediately. Your loan costs more if you wait the full 50 days to make your first repayment, as interest starts to add up as soon as you take out the loan.
Compare other personal loan providers
How do I apply?
Check the eligibility requirements to make sure you meet the minimum criteria. If you do, follow these steps to check what rates you can qualify for:
- Click the Go to site button on this page to be redirected to HSBC’s website.
- Click Apply online.
- Fill out the form with information about yourself and how much you need to borrow.
- Review the disclosures, check the box and click Save and Check Your Loan Options.
What documents do I need to apply?
If you decide to move forward with your application, HSBC may ask you to submit the following documents:
- Proof of address. This could be a utility bill or copy of your mortgage or lease.
- Proof of income. Recent pay stubs or bank statements should suffice.
What happens after I apply?
You should receive a prequalification offer immediately after submitting your online application. If you like the rates and terms you qualify for, you have up to 14 days to move forward with the application. After that, you’ll need to prequalify again.
How do repayments work with HSBC Personal Loans?
Start repaying your loan as soon as you can. While your first repayment isn’t due until 50 days after you sign your loan documents, you might want to make a repayment earlier. That’s because interest starts adding up right away. If it’s an option, sign up for automatic repayments to avoid the late fee.
If you have any questions about your account, reach out to customer service by calling 800-975-4722 or through the live-chat feature on its website.
You can find out how HSBC compares to other providers by reading our guide to personal loans.