HSBC loan calculator

Use our HSBC loan calculator to get an idea of how much you'd pay back on a fixed-rate, unsecured HSBC personal loan as a new or existing customer. Loan amounts between £1,000 and £50,000 starting from 6.4%.

3.9 ★★★★★ (400 reviews) Write a review
HSBC

Leave a review

Your review

Read Terms and Conditions here

HSBC loan calculator

Table: sorted by representative APR, promoted deals first
1 - 2 of 2
Name Product Finder score Total Payable Monthly Repayment Representative APR Link
HSBC Personal Loan
Finder Award
HSBC Personal Loan
4.5
★★★★★
Check eligibility
View details
Representative example: Borrow £10,000.00 over 3 years at a rate of 6.9% p.a. (fixed). Representative APR 6.9% and total payable £11,064.60 in monthly repayments of £307.35.
HSBC Premier Personal Loan
4.5
★★★★★
Check eligibility
View details
Representative example: Borrow £10,000.00 over 3 years at a rate of 6.4% p.a. (fixed). Representative APR 6.4% and total payable £10,987.56 in monthly repayments of £305.21.
loading

Please note: You should always refer to your loan agreement for exact repayment amounts as they may vary from our results.

Late repayments can cause you serious money problems. See our debt help guides.

How do HSBC loans compare against the competition?

Table: sorted by representative APR, promoted deals first
1 - 4 of 13
Name Product Finder score Total Payable Monthly Repayment Representative APR Link
Novuna Personal Loan
4.5
★★★★★
Check eligibility
View details
Representative example: Borrow £10,000.00 over 3 years at a rate of 7.4% p.a. (fixed). Representative APR 7.4% and total payable £11,142.00 in monthly repayments of £309.50.
My Community Bank Personal Loan
4.5
★★★★★
Check eligibility
View details
Representative example: Borrow £5,000 over 48 months at a rate of 24.9% pa (fixed). Representative APR 27.9% and total payable £7,939.24 in monthly repayments of £165.40.
Fluro (formerly Lending Works) Personal Loan
4.0
★★★★★
Check eligibility
View details
Representative example: Assumed borrowing of £7,500.00 over 48 months at 17.9% APR representative. Monthly cost of £214.79. Total amount repayable of £10,309.78. Interest rate of 16.6% p.a.(fixed) and total fees of £150.00. Available for loan amounts between £5,000 - £25,000.
HSBC Personal Loan
Finder Award
HSBC Personal Loan
4.5
★★★★★
Check eligibility
View details
Representative example: Borrow £10,000.00 over 3 years at a rate of 6.9% p.a. (fixed). Representative APR 6.9% and total payable £11,064.60 in monthly repayments of £307.35.
loading
Please note: You should always refer to your loan agreement for exact repayment amounts as they may vary from our results.

Our verdict

HSBC offers loans suitable to those looking for competitive interest rates and the flexibility to overpay without charges. However, it’s important to note that the most competitive rates are only available if you have a good credit history. Furthermore, while existing customers can enjoy the convenience of an instant decision and same-day funds, new customers may not have access to these expedited services and may be offered a higher interest rate.
Pros
  • Competitive interest rates
  • You can overpay free of charge
  • Instant decisions in most cases
  • Same-day funding for existing HSBC customers
  • HSBC Premier customers can access lower rates
Cons
  • You’ll need good credit for low rates
  • Instant credit decision and same-day funds for existing customers only
Representative example: Borrow £10,000.00 over 3 years at a rate of 6.9% p.a. (fixed). Representative APR 6.9% and total payable £11,064.60 in monthly repayments of £307.35.
HSBC Personal Loan
Finder Award
Go to site

6.9% APR representative (Fixed)

Maximum loan

£25,000

Product fee

N/A

Early redemption fee

Yes

HSBC loan rates at a glance

The HSBC Personal Loan charges 6.9% APR representative on loans between £7,000 and £15,000. HSBC offers the loan with repayment terms between 1 and 8 years, and applicants can apply to borrow from £1,000 to £25,000.

The HSBC Premier Personal Loan charges 6.4% APR representative on loans between £7,000 and £30,000. HSBC offers the loan with repayment terms between 1 and 8 years, and applicants can apply to borrow from £1,000 to £50,000.

Quick overview of HSBC personal loans

Loan amounts From £1,000 to £50,000
Loan terms From 1 year to 8 years
Age eligibility 18 years and over
Application fee No application fee
Repayment holiday Repayment holiday not permitted

Key features

Loan typeUnsecured Personal Loan
Loan amounts£1,000.00 to £25,000.00
Loan terms1 Year to 8 Years
Loan rate typeFixed
Product fee0%
Same-day funding available
Same-day funding noteExisting customers apply online or in app for 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
Loan typeUnsecured Personal Loan
Loan amounts£1,000.00 to £50,000.00
Loan terms1 Year to 8 Years
Loan rate typeFixed
Product 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

Am I eligible for an HSBC loan?

You should only apply if you’re certain you can meet the repayment terms, and you meet the following HSBC personal loan requirements:

  • You must be aged over 18.
  • Have an annual income of at least £10,000 (this can include pension income).
  • Be a UK resident.
  • Have a UK based bank or building society account that can pay direct debits.

HSBC states that you can’t use an HSBC loan for funding (or part funding) a property, gambling, business purposes or share dealing. It also says you can’t give the money to somebody else to do any of those things.

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.

Things to keep in mind

  • Rates may vary. HSBC personal loans are unsecured – meaning they’re based on your creditworthiness, rather than the value of any property or other assets you use as collateral. While HSBC’s rates are normally competitive, the advertised representative APR may not be the rate you’ll receive, and HSBC will offer you a rate based on its assessment of your personal financial circumstances.
  • Repayment holidays. You have the option of taking a repayment holiday for the first three months of your loan term, or every January for the life of the loan. However, this will cost you more overall, because your outstanding balance will still be accruing interest during these periods.
  • Quick turnaround. HSBC account holders may get approved for a loan immediately, and other customers should be contacted with a credit decision within five working days. Successful applicants will generally get their funds within three working days, but existing HSBC customers may receive their money instantly.

APR and Representative APR explained

The Annual Percentage Rate (APR) is a summary of the yearly cost of a loan. It takes into account both interest and any unavoidable charges you'll need to pay (for example an arrangement/product fee) over the duration of a loan. Because HSBC doesn't charge an arrangement fee, its APR comprises just the interest rate – and so they're one and the same.

However, the vast majority of lenders tailor rates (and therefore APRs) to the individual applicant. If they think you're a riskier bet, they'll offset that by offering you a higher APR. The "representative APR" (as defined by the Financial Conduct Authority) is what HSBC gives to at least 51% of those who take out the loan. At the top end of the market – where HSBC fights it out among the high-street banks and supermarkets – chances are that 49% of customers are receiving a higher APR. With HSBC, you'll need a good credit score to get approved and a great credit score to bag that representative APR. HSBC must calculate APR in the same way as other lenders, and must tell you your personal APR before you sign a loan agreement.

HSBC advertises a representative APR of 6.9% on loans between £7,000 and £15,000 on the HSBC Personal Loan and 6.4% on loans between £7,000 and £30,000 on the HSBC Premier Personal Loan.

How do I apply for an HSBC loan?

If you want to apply for a HSBC personal loan, you can do so by following these steps:

  1. Get a personalised quote.

    Use HSBC’s “Personalised Loan Quote tool” to get an indication as to whether your application would be successful. This involves a “soft” search of your credit file, which doesn’t affect your credit score. You’ll need to provide three years of address history, as well as your current income and employment details in order for HSBC to run the check.

    HSBC personalised loan quote tool form step 1 screenshot
    HSBC personalised loan quote tool form step 2 screenshot
    HSBC personalised loan quote results screenshot
  2. Apply.

    If you’re happy with the quote, you can then click “Apply now”. You’ll also need to provide the sort code and account number of your bank or building society account. It’s once you do this that HSBC will run a “hard” credit search (which has a slight, usually short-lived dent on your credit score).

  3. Get a decision (and if it’s good news, a formal “loan offer”).

    Once your application has been received, you’ll generally need to wait up to five working days for a decision. For existing HSBC account holders, you may get an instant decision on your loan application.

  4. Accept the loan offer and wait for drawdown of funds.

    If you accept the loan offer, funds will be send to your nominated account. If that’s an HSBC current account, the transfer should be near-instant, but if it’s not, HSBC says you may have to wait up to 3 working days.

Can I get an HSBC secured loan?

HSBC does offer traditional “first charge” mortgages, however it doesn’t offer “second charge” mortgages (also known as “homeowner loans”). If you’re a homeowner with a mortgage, then a homeowner loan can let you leverage the equity you’ve built up in your home to access larger loan amounts and/or lower interest rates. You can learn about secured loans and compare your options in our comprehensive guide.

How do I get in contact with HSBC?

HSBC offer online chat functions on both the HSBC webiste and app. Alternatively, you can ring HSBC on 03457 404 404 if you are an existing customer, or if you’re not a customer, you can call 03455 873 444. Lines are open 08:00–20:00 every day (except for Christmas Day, Boxing Day and New Year’s Day).

HSBC customer reviews

HSBC was highly commended for its loans in the Finder Customer Satisfaction Awards 2024. In our survey, 94% of its loan customers said they’d recommend the brand to a friend.

Customers were positive about HSBC’s customer service.

One commented:”They are easy to communicate with and explain the breakdown well”

Another said:”It provides very good rates as well as easy accessibility to customer support.”

Case study: Ahmed took out an HSBC personal loan to buy a car

Ahmed Negri profile pic
Ahmed Negri

London

I took out an HSBC personal loan in 2018 because I was already banking with HSBC and I wanted the loan to be with my own bank. I had been with HSBC for 20 years. I got the cash within 2 days, which is about what I was expecting. I needed it to buy a car.

If there's one thing you'd tell a friend who's thinking of getting this, what would it be?

My advice for anyone thinking of getting a loan is: don’t get it unless you absolutely need to have it and be sure you can afford the repayments.

Frequently asked questions

Personal loans scores

★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor

Finder scores, in blue, are based on our expert analysis. We also show reviews from users, where we've received more than 10, with a score in yellow. We gather more reviews from customers every year in Finder's customer satisfaction survey.

To find out more, read our full methodology.

We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you. Most of the data in Finder's comparison tables has the source: Moneyfacts Group PLC. In other cases, Finder has sourced data directly from providers.

More guides on Finder

  • Finder Lending Innovation Awards 2024

    Find out the winners and highly commended brands in the Finder Lending Innovation Awards 2024. The best lending innovation in the UK!

  • Bamboo unsecured personal loan review

    Bamboo offers fixed-rate unsecured personal loans up to £8,000 without a guarantor.

  • Lendable loans review

    Check out our review of Lendable personal loans and find out whether it offers the best loans for you.

  • 1Plus1 loans calculator and overview

    In this handy guide we walk you through all the essentials you need to know before getting a loan with 1+1 loans including key features, eligibility and how to apply.

  • Repaying a personal loan early

    If you have a personal loan and you want to make overpayments or simply pay it off in full ahead of time, you’re protected by the Consumer Credit Act. Here’s what you need to know.

  • Creation personal loans

    Creation Financial Services offers fixed-rate personal loans of £1,000-£25,000 over 1-5 years with no hidden fees. Find out all the key features of these loans and compare live rates in our in-depth review.

  • Compare 2 year personal loans

    Want to buy a new car? Go on holiday? Consolidate your debt? Compare rates and costs of 2 year fixed rate personal loans from a range of lenders.

  • Nationwide loans calculator and 2024 review

    Looking to tidy up your finances, make some home improvements or replace your car? Nationwide offer fixed-rate personal loans of up to £25,000. Fast and simple comparison with a range of UK lenders.

  • Sainsbury’s loans calculator and review

    Whether you’re planning on some home improvements, replacing your car or simply getting your finances in order, Sainsbury’s offers fixed rate personal loans of up to £25,000 to Nectar card holders. Fast, easy comparison with a range of lenders.

4 Responses

    Default Gravatar
    PetruFebruary 1, 2019

    I need loan because I am doing some home improvements.

      AvatarFinder
      JeniFebruary 2, 2019Finder

      Hi Petru,

      Thank you for getting in touch with finder.

      Kindly fill in the application form via the HSBC website to proceed with your online loan application. Please make sure that you have your bank’s sort code and account number handy. You should only apply for an HSBC personal loan if you’re certain you can meet the repayment terms as well as the eligibility requirements that you see on this page.

      I hope this helps.

      Thank you and have a wonderful day!

      Cheers,
      Jeni

    Default Gravatar
    DavidOctober 20, 2018

    Can I apply for a loan now and use the money straight away?

      AvatarFinder
      JeniOctober 24, 2018Finder

      Hi David,

      Thank you for getting in touch with finder.

      Once you apply for a loan and get approved, you may use the money at any time and how you want to use it. Before you submit a loan application, kindly check if you’re eligible for the personal loan and have all documents handy. Also, please make sure that you’ve read the relevant T&Cs or PDS of the loan product before making a decision and consider whether the product is right for you.

      I hope this helps.

      Please feel free to reach out to us if you have any other enquiries.

      Thank you and have a wonderful day!

      Cheers,
      Jeni

Go to site