Use HSBC Personal Loan to Pay Financial Debts Are you burdened with huge debts from lenders or facing issues in paying your home loan EMIs? Then get HSBC personal loan, you can borrow the desired amount and pay for it in equated monthly installments. You can apply for a loan from HSBC bank if you have a current or savings account active for at least 3 months. Read the given article to know the loan features and eligibility criteria. What is HSBC personal loan interest rate, and how it is estimated? The bank offers you the loan at an attractive rate of interest of 10.50% per annum. HSBC personal loan interest rate is fixed and remains the same during the loan tenure. It depends on your loan eligibility criteria if you meet the loan criteria then the bank would charge a lower interest. According to the loan criteria, the age of the applicant must be 21 to 60 years and should be an Indian resident. Both the salaried and self-employed can apply for the loan using the bank services. How I can apply for HSBC personal loan? To get the desired amount from HSBC Bank, apply for a personal loan. Visit the nearest bank branch or go to the bank official website. Login to your account and apply for the loan. Fill up the loan application form and submit it to the bank with the required documents. Documents required for an HSBC personal loan are user ID proof, address proof, age proof and income proof. And you can show all the mentioned proof by giving your PAN card, Aadhar card, Voter Id card, Driving license, salary slip, ITR report for the last 2 years and form 16. When you submit all the documents along with the duly filled loan application form with 2 passport size photographs then you will receive the loan approval. After the loan approval, you need to pay a processing fee for your loan. And the processing fee is 1% of the disbursed loan amount. So if your loan amount is 4 lakh then processing fee would be INR 4,000. Pay HSBC personal loan instantly You can pay the HSBC loan EMIs from your HSBC account or any other bank account. Two payment methods are available for customers, one is Standard Instruction, and the other is Electronic Clearing Service. In Standard Instruction, you can pay your loan EMIs using your HSBC account every month before the due date. On the other hand, using ECS you can pay the loan from any of your bank accounts and avoid the late payment charges. The repayment duration of the loan is up to 5 years. And, using the same payment methods, you can prepay or foreclose your loan. The bank charge a 3.75% of the outstanding amount for the closure of HSBC personal loan.
Now, if you have any financial issues and you aren’t able to pay them on time then borrow a loan from the HSBC bank. It’s personal can solve all your issues and help you in the financial crisis.