HSBC Loans — Compare business financing and home loan options

HSBC Bank loans

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Find out how HSBC Bank can help you finance your home or your business.

As a homeowner, your work is never really done. Whether it’s getting the gutters cleaned, fixing that leaky faucet, remodeling or even refinancing, there’s always something to do. The same goes for when you own a business. Every time one undertaking ends, another begins.

HSBC can help you tidy up that task list with financing that fits your needs. This guide goes over the different loan offerings HSBC has, and covers the benefits and drawbacks of each.

HSBC International Money Transfers

What types of loans does HSBC offer?

HSBC offers several a range of loans to meet your specific financial needs.

  • Home equity line of credit. You can get a credit line of up to $350,000 if you’re new to HSBC or up to $1 million if you’re a Premier client. HELOCs allow you to use the equity of your home as collateral to get funding for major expenses. Rates can be fixed or variable and vary by state.
  • Mortgages and refinancing. Buy a home or refinance your existing one with up to $3 million in spending power if you qualify for a Premier Deluxe mortgage. Conforming fixed- and adjustable-rate mortgages can bring you up to $636,150 for a single-family residence, if you qualify.
  • Business loans. Term loans with flexible repayment schedules and fixed or floating rates can be taken out if you and your business qualify. HSBC also offers an SBA Loan Program. Learn more about business loans.
Learn more about HSBC loans
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Rates last updated July 20th, 2018

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Name Product Product Description Min. Credit Score Max. Loan Amount APR
Even Financial Personal Loans
Get connected to competitive loan offers instantly from top online consumer lenders.
580
$100,000
4.99%–35.99% (fixed)
Upgrade Personal Loans*
Affordable loans with two simple repayment terms and no prepayment penalties.
620
$50,000
6.87%–35.97% (fixed)
LendingClub Personal Loan
A peer-to-peer lender offering fair rates based on your credit score.
660
$40,000
6.16%–35.89% (fixed)
SoFi Personal Loan Fixed Rate (with Autopay)
No fees. Multiple member perks such as community events and career coaching.
680
$100,000
6.575%–14.865% (fixed)
Credible Personal Loans
Get personalized rates in minutes and then choose a loan offer from several top online lenders.
Good to excellent credit
$50,000
4.99%–36% (fixed)
Best Egg Personal Loans
A prime lender with multiple repayment methods.
640 FICO®
$35,000
5.99%–29.99% (fixed)
Prosper Personal Loans
Borrow only what you need for debt consolidation, home improvements and more — with APRs based on overall creditworthiness.
640
$40,000
6.95%–35.99% (fixed)
FreedomPlus Personal Loans
Consolidate debt and more with these low-interest loans. Cosigners welcome.
640
$35,000
4.99%–29.99% (fixed)
NetCredit Personal Loan
Check eligibility in minutes and get a personalized quote without affecting your credit score.
550
$10,000
34%–155% (Varies by state) (fixed)
OneMain Financial Personal and Auto Loans
An established online and in-store lender with quick turnaround times. Poor credit is OK.
Varies
$30,000
16.05%–35.99%* (fixed)
Monevo Personal Loans
Quickly compare multiple online lenders with competitive rates depending on your credit score.
580
$100,000
3.09%–35.99% (fixed)

Compare up to 4 providers

Why should I consider taking out an HSBC loan?

HSBC loans come with quite a few features beyond those typical of a traditional bank.

  • Dedicated mortgage consultants. Whether you’re buying your first house or refinancing the one you already have, a mortgage consultant is available to walk you through the entire process.
  • Move from an ARM to a fixed-rate mortgage. An adjustable rate mortgage (ARM) may be ideal to start, but there’s the possibility of it becoming more expensive or unstable than anticipated. With HSBC, you can switch to a fixed-rate mortgage for more predictable payments that allow you to budget with ease.
  • Rate discounts available. Qualifying Premier and Advance clients can receive 0.50% and 0.25% rate discounts, respectively, with autopay from an HSBC checking account.
  • Easy access to funds. With a HELOC, you can access your funds by writing a check. It’s old-fashioned, but it’s easy.
  • Closing costs. When you have a HELOC of under $500,000, you won’t pay anything for closing costs.

How much will it cost me to borrow with HSBC?

Loans from HSBC come with rates that differ by the type of financing and your client status. Premier and Advance clients have access to more favorable loan amounts when it comes to mortgages and refinancing. Lower rates with any of the financing products and rate discounts are also perks of being a Premier or Advance client.

Closing costs for a HELOC typically range from $270 to $19,900 but can be higher. Remember that if your line of credit is under $500,000, you won’t have to pay closing costs.

Are HSBC loans safe?

HSBC is an international business with more than 37 million customers. Conducting business across 70 countries, it has to keep its website security on point. Outside of SSL encryption, HSBC also offers an Online Guarantee. You won’t be liable for any unauthorized online charges.

How to apply for a loan with HSBC

Each HSBC loan comes with different requirements. However, you’ll need to meet a few overarching eligibility criteria:

    • You must be at least 18 years old.
    • For US products, you must be an American citizen or a permanent resident of the US.
    • You must have demonstrable, consistent income that can support your existing debt obligations and your desired loan amount.

If you meet the eligibility requirements and you’re ready to apply, you’ll find that products also come with different steps. Depending on the loan, you may be able to at least begin the application process online.

Documentation will also vary depending on your funding option, but at minimum you will need a government-issued ID such as a driver’s license or passport.

Benefits and drawbacks to borrowing with HSBC

Pros

  • Air-tight security. Security is taken extremely seriously, and HSBC provides users with tips to protect themselves and their businesses. HSBC also holds a $0 liability Online Guarantee, meaning that you won’t be at fault for any unauthorized charges on your account.
  • Advisors available. When you’re ready to apply for a mortgage with HSBC, you’ll have access to an advisor who can help you through the process.
  • Tools and resources offered. HSBC offers tools to find home equity rates, calculate your payments and more.
Cons

  • Best rates are limited. You must be an existing customer with HSBC and hold a special client status to get the best rates and mortgage packages.
  • Limited loan products. US-based customers have only three types of loan products to choose from.
  • No online application. To apply, you’ll have to call or go to a local branch.

Bottom line

HSBC is a seasoned lender that offers neatly packaged products. If you’re looking to use any of its loan products, it pays to be a member: If you’re an Advantage or Premier member, you’ll typically get the best rates and terms.

Taking out any kind of financing is a big step. Before you settle with any one lender, do your research and compare your options. It can be helpful to speak with a financial advisor or even a trusted friend.

Frequently asked questions about HSBC loans

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US Personal Loans Offers

Important Information*
Even Financial Personal Loans

Get connected to competitive loan offers instantly from top online consumer lenders.

Prosper Personal Loans

Borrow only what you need for debt consolidation, home improvements and more — with APRs based on overall creditworthiness.

LendingClub Personal Loan

A peer-to-peer lender offering fair rates based on your credit score.

SoFi Personal Loan Fixed Rate (with Autopay)

No fees. Multiple member perks such as community events and career coaching.

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