HSBC-personal-loan

HSBC Personal Loan Benefits

HSBC Amanah Personal Financing-i: Fast and Flexible

Need extra cash for your personal or business needs? Apply for HSBC Amanah Personal Financing-i and enjoy competitive profit rates, high financing amount, and flexible repayment options. Whether you want to consolidate your debts, fund your education, or renovate your home, HSBC Amanah Personal Financing-i can help you achieve your goals with ease and convenience.

  • Profit rate from 6.5% p.a. (EIR 12.38% p.a.)
  • Financing amount up to RM200,000.
  • Repayment tenure up to 7 years.
  • No guarantor or collateral required.

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Receive your money on the next working day.

A Complete Guide For HSBC Personal Loan 2023

If you’re in need of financial assistance for your personal needs, HSBC Personal Loans is worth considering. In this comprehensive guide, we’ll take a closer look at what HSBC bank is about, the features of their personal loan, their pros and cons and everything else you need to know to make a well-informed decision before applying for a personal loan with HSBC.

What is HSBC bank?

HSBC is a British multinational banking and financial services company with over 150 years of experience in the banking industry. It operates in over 80 countries worldwide, including Malaysia, where it is one of the most prominent banks.

HSBC Bank Malaysia offers a range of personalised financial solutions, one of which is their Personal Loan product.

Features of HSBC’s Personal Loan

HSBC bank’s Personal Loan comes with a variety of features to suit your needs.

  • Loan amount: You can borrow up to RM 350,000.
  • Loan tenure: Choose your loan tenure, ranging from minimum 12 months to 5 years.
  • Fast Approval: Upon successful application, you can expect to receive the loan amount within 7 working days.
  • Fixed interest rates: The interest rate is fixed throughout the loan period, giving you peace of mind knowing your monthly instalments are predictable.
  • Online banking access: Enjoy easy management of your loan account with 24/7 online banking access.

HSBC bank’s Personal Loan is one of the best personal loans available in Malaysia, however there are pros and cons to consider before deciding.

Pros and Cons of HSBC Personal Loan

Pros:

HSBC bank’s Personal Finance comes with several advantages you may find appealing:

  • Flexible loan tenure and amount that meet your needs.
  • The application process is straightforward and hassle-free.
  • Quick approval for successful applications.
  • Fixed interest rates throughout the loan period.
  • Access to 24/7 online banking – you can manage your loan anytime, anywhere.

Cons:

While HSBC bank’s Peribadi Pinjaman comes with plenty of advantages, there are some downsides to consider before you apply:

  • You’ll need a good credit’s score to apply for the loans.
  • You’ll need to submit several documents as part of the application process, which is time-consuming.
  • The interest rates charged may be higher than other personal loans in Malaysia.

Requirements of Applying for HSBC Personal Financing

To apply for HSBC bank’s Personal Financing, you’ll need to meet the following requirements:

  • You must be a Malaysian citizen or permanent resident of Malaysia.
  • You need to be between 21 and 60 years old.
  • You must have a minimum income of RM 36,000 per annum.
  • You need to have a good credit score with no defaults or bankruptcy history.
  • You must be employed with your current employer for a minimum of 6 months.
  • You will need to submit a copy of your MyKad, the latest profit slips, and your latest EPF statement.

Fees & Charges of HSBC Personal Loan

When applying for HSBC bank’s Personal Financing, it’s important to understand the fees and charges:

  • Interest Rate: The interest rate starts from 5.88% p.a. and is calculated based on the reducing balance method.
  • Processing Fee: A one-time processing fee of 1% (minimum RM 88) will be deducted from the financing amount for successful applications.
  • Early Settlement Fee: If you decide to settle your loans early, a fee of 1% of the outstanding balance or RM200 (whichever is higher) will be charged.

Latest Promotions of HSBC Personal Loan

HSBC bank’s Personal Loan has several promotions on offer as of 2023:

  • New to HSBC bank’s Personal Loan Promotion: Apply for the loan and enjoy a cashback of up to RM2,000 for loans above RM50,000.
  • Existing HSBC Customer Promotion: Get a cashback of up to RM1,000 for loans above RM50,000.
  • HSBC Amanah Personal Financing –i Promotion: Enjoy a cashback of up to RM2,000 for successful applications on HSBC Amanah Islamic branch.

Installment Table of HSBC’s Personal Loan

Here’s an example of an installment table for an HSBC Loan for personal:

Loan amount Loan Tenure Interest Rate (p.a) Monthly Installment
RM 50,000
5 years
11.9%
RM 1,118
RM 100,000
5 years
9.99%
RM 2,130
RM 200,000
5 years
8.49%
RM 4,120

HSBC Personal Loan Terms and Conditions

Before applying for HSBC Personal Financing, make sure you read their terms and conditions carefully. Here are some important things to take note of:

  • You can only apply for pinjaman ini once all documents and information have been submitted.
  • The bank has the final say on whether or not to approve your application, based on their eligibility criteria.
  • You must make timely or monthly repayment or risk defaulting on the loan.
  • HSBC’s Personal Financing is subjected to its exclusive terms and conditions, available on their website.

Conclusion

HSBC Personal Financing is a good option to consider if you’re in need of financial assistance in Malaysia. Its flexible loan tenure and amount, quick approval process, and access to 24/7 online banking make it a convenient choice.

However, you should take into consideration the requirements, fees, and charges before making a decision to apply, and be sure to read the terms & conditions and support FAQ carefully.

If you’re looking for a trustworthy financial solution for your personal needs, HSBC Personal Financing is definitely worth checking out.

FAQs

How long does it take for HSBC to approve a loan?

HSBC bank’s personal financing takes about 5 working days.

What is the minimum loan amount for HSBC?

The minimum amount is RM4,000.

What is the interest rate for HSBC installment?

The interest rate is 5-7% p.a.

How do I check my HSBC loan status?

You will receive a text message or phone call from the bank staff.