HSBC Personal Instalment Loan

Get a quick decision in-principle on your personal loan with HSBC.

  • You could get in-principle approval in just one minute
  • The minimum loan you can take out is $1,000

If you’re looking for a personal loan with competitive rates of interest and a no-nonsense approval process, the HSBC Personal Instalment Loan could be a good choice for you. Loan terms range from 1 to 7 years and are tailored to meet a range of individual needs.

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EIR: 6.5%

Interest Rate From


Maximum Loan Amount

Up to 7 years

Loan Tenure


Interest Rate From3.4% 

EIR: 6.5%

Minimum Loan Amount$1,000
Maximum Loan Amount$200,000
Loan TenureUp to 7 years
Approval Duration1 minute approval in principle. "Next Day" approval available for loans up to $100,000
More Info

Pros and cons


  • Long loan terms of up to 7 years – which is two more than the Citi Quick Cash Loan
  • You could get a fast decision in-principle on your loan


  • Fairly high minimum loan amount of $1,000

Main points to consider with an HSBC Personal Instalment Loan

Personal loans from HSBC can range from 1 to 7 years. Interest rates on these loans are fixed, typically ranging from 6.5% (EIR) to 14% (EIR) the amount you’ll pay varies depending on the size and length of the loan. Whether or not you’ll be accepted for a personal loan will be determined by how responsibly you’ve managed credit in the past, among other factors.

Features of a personal loan from HSBC

  • Loan term. You may be able to choose a loan period for as little as 1 year; the limit is 7 years.
  • Loan size. Loan size maximums will be set by HSBC through the application process. With this provider, some customers may be able to borrow up to eight times their monthly income (up to a limit of $200,000).
  • Fast approval. It may be possible to get approval in-principle in just one minute, as long as you meet certain conditions.
  • Application time. It could take a couple of weeks to process your full application. This gives HSBC time to assess your financial standing, and the debts you’ve accrued in the past.
  • Repayment instalments. These will need to be paid on a monthly basis, for the duration of your loan.

How much does the loan cost?

As with any personal loan, the total cost of your loan depends on the amount you borrow, the loan terms and your repayment instalments. Plus, you could face additional charges and fees. Some of these include:

  • Processing fee equal to 1% of your approved loan amount (minimum $0).
  • Early repayment fee of 2.5% of the redemption amount (T&C's apply).
  • $75 late payment fee per month if you miss a repayment.

How to apply for an HSBC Personal Instalment Loan

It’s easy to apply for a personal loan with HSBC and you can do so online. Start by clicking the green “Go to site” button on this page.

To be eligible, you must meet the following requirements:

  • Be between 21 and 65 years of age
  • Have an annual income of $30,000 if you’re a salaried employee, or $40,000 if you’re self-employed or are a commission-based Singaporen Citizen/ Permanent Resident
  • If you’re a foreigner, you’ll need an annual income of at least $40,000 and hold an employment pass with validity of at least 6 months

When applying for a loan you typically have to provide:

  • A photocopy of your NRIC (front and back), or
  • A photocopy of your Passport and Employment Pass (front and back)
For salaried employees
  • Photocopy of your NRIC (front and back)
  • Latest three months’ computerised payslips, or latest Notice of Assessment with your latest month’s payslip, or latest six months’ CPF statement
For self-employed/commission-based earners
  • Photocopy of NRIC (front and back)
  • Last two years’ Notice of Assessment
For foreigners
  • Passport
  • Employment Pass (with validity of at least 6 months)
  • Latest three months’ computerised payslips, or latest Notice of Assessment with latest month’s payslip, latest six months’ CPF statement1

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