HSBC Premier Customer Personal Loan review October 2019

HSBC Premier Customer Personal Loan
HSBC Premier Customer Personal Loan

If you are an HSBC Premier customer, you can get a larger unsecured personal loan so you can think bigger while planning for your wedding, for a special holiday or for a new car.

HSBC is one of the Big Four banks in the UK. The other three banks are Lloyds, Barclays and RBS. HSBC offers a variety of banking services to more than 38 million customers in 66 different countries around the world.

Like many other banks, it usually caps its personal loans to a maximum of £25,000. However, if you’re a Premier customer, you can apply to get up to £50,000. HSBC will let you know instantly if you’ve been accepted and will transfer the funds on the same day, no matter if you’ve applied online or in branch.

Name Product Total Payable Monthly Repayment Representative APR
Representative example: Borrow £10,000.00 over 3 years at a rate of 3.3% p.a. (fixed). Representative APR 3.3% and total payable £10,509.12 in monthly repayments of £291.92.

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Warning: late repayments can cause you serious money problems. See our debt help guides.

Key details

Loan typeUnsecured Personal Loan
Loan amounts£1,000.00 to £50,000.00
Loan terms1 Year to 8 Years
Loan rate typeFixed
Fee0%
Same day funding available
Same day funding noteApply online or in branch to receive same day funds
Instant decisions in most cases
Soft-search facility available
Joint applications
Overpay without penalty
Concurrent loans allowed
Topping-up pays off existing loan and initiates a new loan
Repayment methodsDirect Debit
Representative example: Borrow £10,000.00 over 3 years at a rate of 3.3% p.a. (fixed). Representative APR 3.3% and total payable £10,509.12 in monthly repayments of £291.92.

Am I eligible?

Available toExisting Customers only
Age18 or over
Credit profilesGood

How do I apply?

As the name suggests, HSBC Premier Customer Personal Loans are only available to HSBC Premier customers. To become eligible for an HSBC Premier Bank Account, you’ll need to have your salary paid into your HSBC account and either have savings or investments of at least £50,000 with HSBC in the UK, or you’ll need an individual annual income of at least £75,000 and a mortgage, investment, life insurance or protection product with HSBC in the UK.

If you do have an HSBC Premier account, you can apply online, on the phone or in person.

If you want to apply online, you can do it from the website or the app by logging in to your online banking services.

If you’d rather have a chat with an HSBC staff member before proceeding, you can give them a call or book an appointment online and then apply in person at an HSBC branch. You’ll need to bring the following:

  • Your ID.
  • Proof of address (for example, a utility bill).
  • Recent bank statement.

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