Christy Rakoczy has been a personal finance and legal writer since 2008. She has a Juris Doctor degree from UCLA School of Law and was a college instructor before she began writing for the web.
Editorial Rating Editorial RatingHSBC makes funding available very quickly so you can get access to fast cash when you need it
| Rates (APR) | Starting as low as 6.99% |
| Loan Terms | 24 – 60 months |
| Loan Amounts | $3,000 to $50,000 |
| Fees | $0 |
Personal loans can be used for nearly any purpose, making them flexible and popular loan. Many people use them for debt consolidation, home improvements, or to finance big purchases without the high interest rates that most credit cards charge.
HSBC is a major international bank offering a wide variety of financial products including bank accounts, credit cards, and investment services. It began offering personal loans jointly with Avant in 2019.
This review will tell you everything you need to know about HSBC Personal Loans, so you can decide if they’re the right option for you.
In this review:
| New HSBC customers | Existing HSBC customers | |
| Starting rates | 6.99% | 6.99% |
| Loan amounts | $3,000 – $30,000 | $3,000 – $50,000 |
| Loan terms | 24 – 60 months | 24 – 60 months |
| Prepayment fee | $0 | $0 |
| Origination fee | $0 | $0 |
| Annual fee | $0 | $0 |
New customers can apply for an HSBC loan quote online in a matter of minutes—without impacting their credit score. If you decide to go through with the loan application, you can complete the entire process online. Existing customers, however, are prompted to apply at a local HSBC branch.
HSBC does not disclose its minimum credit score or income requirements, but borrowers must be at least 18-years old to qualify. After getting approved, you may be able to receive funding as soon as the next business day.
The timeline for receiving funds varies depending on whether you are an existing or new HSBC customer and depending on how quickly you can provide the requested financial information. As soon as your loan is approved, the money will be deposited into your account.
In order to apply for a personal loan with HSBC, there is some basic information that you may need to provide. This includes:
While an HSBC Personal Loan can be an ideal choice for existing HSBC customers, it isn’t the right option for everyone.
You should always compare quotes from several of the best personal loan lenders to ensure you’re getting a good deal.
