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HSBC Personal Loans review

Last updated:  

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


Product NameHSBC Personal Loans
Min. Loan Amount$3,000
Max. Loan Amount$30,000
APR6.99% to 22.99%
Interest Rate TypeFixed
Min. Credit Score660
Minimum Loan Term2 years
Maximum Loan Term5 years
Go to HSBC's website

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

Updated December 7th, 2019
Name Product Filter Values APR Min. Credit Score Max. Loan Amount
5.95% to 35.99%
Fair to excellent credit
Get personalized rates in minutes and then choose an offer from a selection of top online lenders.
3.84% to 35.99%
Good to excellent credit
Get loan offers from multiple lenders at once without affecting your credit score.
6.98% to 35.89%
Affordable loans with two simple repayment terms and no prepayment penalties.
3.84% to 35.99%
Get connected to competitive loan offers instantly from top online consumer lenders.
34% to 155% (Varies by state)
No minimum
Check eligibility in minutes and get a personalized quote without affecting your credit score.
3.99% to 35.99%
Quickly compare multiple online lenders with competitive rates depending on your credit.
6.49% to 17.99%
With over 80 years of lending experience, this credit union offers personal loans for a variety of expenses.
6.95% to 35.89%
A peer-to-peer lender offering fair rates based on your credit score.
5.99% to 17.88%
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?

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.

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