HSBC loan calculator

HSBC loans calculator

How much do you need to borrow? £

16000

How long do you need to borrow for?

4

years

Sort by:

Name	Product	Total Payable	Monthly Repayment	Representative APR	Link
HSBC Personal Loan					View details	Representative example: Borrow £10,000.00 over 3 years at a rate of 5.8% p.a. (fixed). Representative APR 5.8% and total payable £10,895.04 in monthly repayments of £302.64.	Compare	loading Fetching your data...
HSBC Premier Personal Loan					View details	Representative example: Borrow £10,000.00 over 3 years at a rate of 5.4% p.a. (fixed). Representative APR 5.4% and total payable £10,833.12 in monthly repayments of £300.92.	Compare	loading Fetching your data...

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• How our calculator works

  Our calculator lets you pick how much you want to borrow, and your loan term, to estimate how much you would pay back each month and overall. We base our calculations on HSBC’s representative APR, but it’s important to note that credit is subject to status and your circumstances may affect the rate you’re offered.

  We also assume that you don’t take any repayment holidays, and you don’t repay the loan early (both of which are facilities offered with HSBC loans).

How do HSBC loans compare against the competition?

How much do you need to borrow? £

16000

How long do you need to borrow for?

4

years

Sort by:

Name	Product	Total Payable	Monthly Repayment	Representative APR	Link
Novuna Personal Loan					Check eligibility View details	Representative example: Borrow £10,000.00 over 3 years at a rate of 5.9% p.a. (fixed). Representative APR 5.9% and total payable £10,910.52 in monthly repayments of £303.07.	Compare	loading Fetching your data...
Fluro (formerly Lending Works) Personal Loan					Check eligibility View details	Representative Example: Assumed borrowing of £7,500.00 over 48 months at 16.9% APR representative. Monthly cost of £211.47. Total amount repayable of £10,150.38. Interest rate of 15.7% p.a.(fixed) and total fees of £150.00.	Compare	loading Fetching your data...
My Community Bank Personal Loan					Check eligibility View details	Representative example: Borrow £6,000.00 over 4 years at a rate of 18.85% p.a. (fixed). Representative APR 18.85% and total payable £8,335.00 in monthly repayments of £173.64.	Compare	loading Fetching your data...
Lloyds Bank Existing Customer Personal Loan					View details	Representative example: Borrow £10,000.00 over 3 years at a rate of 5.9% p.a. (fixed). Representative APR 5.9% and total payable £10,910.52 in monthly repayments of £303.07.	Compare	loading Fetching your data...
HSBC Personal Loan					View details	Representative example: Borrow £10,000.00 over 3 years at a rate of 5.8% p.a. (fixed). Representative APR 5.8% and total payable £10,895.04 in monthly repayments of £302.64.	Compare	loading Fetching your data...
Zopa Personal Loan					View details	Representative example: Borrow £1,500.00 over 3 years at a rate of 19.9% p.a. (fixed). Representative APR 19.9% and total payable £1,959.84 in monthly repayments of £54.44.	Compare	loading Fetching your data...
Barclays Bank Existing Current Account Customer Barclayloan					View details	Representative example: Borrow £25,100.00 over 3 years at a rate of 13.1% p.a. (fixed). Representative APR 13.1% and total payable £30,173.76 in monthly repayments of £838.16.	Compare	loading Fetching your data...
HSBC Premier Personal Loan					View details	Representative example: Borrow £10,000.00 over 3 years at a rate of 5.4% p.a. (fixed). Representative APR 5.4% and total payable £10,833.12 in monthly repayments of £300.92.	Compare	loading Fetching your data...

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HSBC loan rates at a glance

The HSBC Personal Loan charges 5.8% 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 5.4% 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.

Overview of features

• HSBC Personal Loan
• HSBC Premier Personal Loan

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 these loans should not be used for funding or part funding a property, gambling, business purposes or share dealing.

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.

How does a HSBC personal loan work?

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.

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.

3. Get a decision.
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.

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.

HSBC customer reviews

Customers in Finder’s 2022 customer satisfaction survey were highly positive about HSBC, with customers praising it as “trusted” and a “good brand”. One customer said HSBC “offered great customer service and were very fair and friendly.”

HSBC was rated highly in our 2022 customer satisfaction awards, with a rating of 4 out of 5. 80% of HSBC customers also said they would be willing to recommend the brand to a friend.

Frequently asked questions

• Who is HSBC?

  One of the “big four” banks alongside Barclays, Lloyds and Royal Bank of Scotland, HSBC began life as the Hongkong and Shanghai Banking Corporation. In the early nineties, it acquired the Midland Bank and moved its headquarters to London, and now has a substantial presence in the UK market.

• Can I top up my existing HSBC loan?

  Yes, though this will require you to either consolidate your existing loan into a new loan, or take out a separate loan if you wish to keep the payments separate. You can apply to borrow more money online, by telephone or in branch.

• Do HSBC personal loans offer a payment break?

  You can take a repayment holiday for the first three months or every January for the life of the loan. You need to request this when you apply for the loan.

• Can I pay back the loan early?

  Yes, and you could potentially save on interest by doing so. Let HSBC know you’d like to pay off the loan early in writing or by phone. If you repay part of your loan early, your monthly repayment amount will stay the same but you can potentially repay the loan more quickly. Bear in mind that if you request to pay off your loan early, you may still be charged interest beyond this point – you’ll be given a final settlement figure and a timeframe in which to pay this amount.

  It’s important to check the early repayment terms before applying for any personal loan. If there’s a likelihood that you’ll be able to clear a loan early, then good early-repayment terms should be an important factor in deciding which lender to use.

• How long does it take to get a loan from HSBC?

  If your loan is being paid into your HSBC account, you can expect to receive your funds instantly once your application is approved. If your loan is being paid into a non-HSBC account, however, then you should get your money in 3 working days once the signed agreement has been received.

• What if I change my mind?

  If you change your mind about your loan, then you are able to withdraw within 14 days of signing off on it. The loan must be repaid within 30 days of notifying HSBC of your withdrawal.