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HSBC Personal Loans review

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Competitive rates and fast funding — but new customers are limited.’s rating: 3.3 / 5.0


  • Best for existing customers who want same-day turnaround and few fees.
  • Pick something else if you’re a new customer and need to borrow more than $30,000.


Max. Loan Amount

6.99% to 22.99%



Min. Credit Score


Product NameHSBC personal loans
Min. Loan Amount$3,000
Max. Loan Amount$30,000
APR6.99% to 22.99%
Interest Rate TypeFixed
Min. Credit Score700
Loan Term2 to 5 years
Turnaround Time1 business day

Expert review

Anna Serio

Review by

Anna Serio is a trusted lending expert and certified Commercial Loan Officer who's published more than 950 articles on Finder to help Americans strengthen their financial literacy. A former editor of a newspaper in Beirut, Anna writes about personal, student, business and car loans. Today, digital publications like Business Insider, CNBC and the Simple Dollar feature her professional commentary, and she earned an Expert Contributor in Finance badge from review site Best Company in 2020.

Expert review

HSBC Personal Loans are ideal for current customers looking for a fast turnaround — you might be able to get your funds the same day you apply. And its competitive rates and low fees don’t hurt either.

But you’ll need good credit to qualify, and new customers are limited to borrowing a maximum of $30,000. And though you can wait 50 days to make your first repayment, you might not want to since interest starts accruing daily. This means the longer you wait to make that first payment, the more expensive your loan will be.

Not sold on HSBC? Compare your other options below.

First, am I eligible?

You must meet the following requirements at a minimum to qualify for an HSBC Personal Loan:

  • Credit score of 680+
  • Not a resident of Wisconsin or any US territory
  • Permanent US resident with a Social Security number and US address
  • 18 or older


  • Competitive rates
  • Same-day turnaround available for existing customers
  • No application, origination or prepayment fees
  • First repayment due after 50 days


  • May need to apply in person
  • Low maximum amount of $30,000 for new customers
  • Interest starts accruing immediately

Compare other personal loan providers

Data indicated here is updated regularly
Name Product Filter Values APR Min. Credit Score Max. Loan Amount
Credible personal loans
4.99% to 35.99%
Fair to excellent credit
Get personalized rates in minutes and then choose an offer from a selection of top online lenders.
Monevo personal loans
3.49% to 35.99%
Quickly compare multiple online lenders with competitive rates depending on your credit.
Fiona personal loans
4.99% to 35.99%
Get loan offers from multiple lenders at once without affecting your credit score.
LendingTree personal loans
Starting from 2.49%
Good to excellent credit
Receive up to five loan offers in just minutes through LendingTree's simple online form.
SoFi personal loans
5.99% to 18.28%
A highly-rated lender with competitive rates, high loan amounts and no fees.

Compare up to 4 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:

  1. Click the Go to site button on this page to be redirected to HSBC’s website.
  2. Click Apply online.
  3. Fill out the form with information about yourself and how much you need to borrow.
  4. 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?

While your first repayment isn’t due until 50 days after you sign your loan documents, we recommend making a repayment as soon as you can since interest starts accruing immediately. If it’s an option, sign up for automatic repayments to avoid a 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.

Frequently asked questions

Personal loan ratings

★★★★★ — Excellent

★★★★★ — Good

★★★★★ — Average

★★★★★ — Subpar

★★★★★ — Poor

We analyze top personal loan providers and rate them one to five stars based on factors that are most important to you. These factors include: rates and fees, customer reviews, loan amounts, loan processing and borrower experience.

Read the full methodology of how we rate personal loan providers.

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