About HSBC Bank
Be it revolutions, World Wars, the Great Depression or the Cold War, the Hong Kong and Shanghai Banking Corporation, has survived through all of them to become one of the oldest and leading banks in the world. The bank was established in 1865 in Hong Kong and has expanded exponentially since then. In 1989, its name was changed to The Hong Kong and Shanghai Banking Corporation Limited and it became one of the founding members and leading subsidiaries of HSBC Holdings PLC. Today, the HSBC Group is a publicly listed multinational company with its world headquarters in London, United Kingdom.
History of the Bank
In 1864, Thomas Sutherland, the Superintendent for the Peninsular and Oriental Steam Navigation Company in Hong Kong, realized that there was a demand for banking facilities in Hong Kong and the China coast. He decided to create a supply for this demand and founded the Hong Kong and Shanghai Banking Corporation in the year 1865 in Hong Kong. One month later, a branch was opened in Shanghai. This bank was local in nature, unlike all the other foreign banks in Hong Kong at that time.
Once it was established, the bank started expanding its services and opened branches in different parts of the world. In 1877, the bank came to Singapore, becoming one of the earliest banks to make its presence in the Island country. The first branch of the bank in Singapore was opened in Collyer Quay.
Today, the HSBC Group plays an important role in Singapore’s financial sector, providing banking and financial services to local businesses, multinational companies, institutional and retail customers among others. Its extensive banking and financial services in Singapore include retail banking, wealth management, private banking, investment, insurance, capital market services and many more.
HSBC’s presence in 72 countries and territories with around 48 million customers gives a good idea about their excellent performance. The company’s revenue in the year 2014 was US$ 61.24 billion and operating income was US$ 18.68 billion. The total assets of the company in 2015 is worth US$ 2.67 trillion. In 2007, it was the most profitable bank and in the year 2012, it was the second largest company listed on the London Stock Exchange.
Why choose HSBC?
HSBC is one of the largest banks today, providing banking and financial services to people in different parts of the world. HSBC’s conservative banking style and stability make it very reliable for the customers.
HSBC is the bank to visit when a person has any banking related requirements in Singapore. There are a wide variety of products offered by the bank, which are designed to fulfil the needs of the customers. A person can apply for the products offered by the bank easily and in less time.
The bank has country specific websites to make it easier for its customers to navigate. A person can visit the Singapore related website wherein he will find information about the products and services the bank provides in the Island nation. For products like credit cards, loans, etc., the bank provides an online application facility to its customers.
Loans offered by HSBC Singapore
HSBC offers an array of loans designed to serve its customers in the best way possible. Whatever your need is to get some extra cash, HSBC loans have a solution to aid your money troubles. Whether you want to buy your dream home, the perfect car for your family, plan your dream fantasy wedding, long and overdue vacation or any other desire, HSBC loans are here to assist you.
Find below the types of loans offered by HSBC -
HSBC Personal Loan
The personal loan offered by HSBC provides one of the lowest interest rate structures in the market, a generous loan quantum and one of the longest loan tenures when compared to other personal loans in the market. If you sign up for the personal loan now, you will also promotional interest rates for your loan. If you want funds within no time with attractive interest rates, you can opt for HSBC Secured Overdraft. Additionally, HSBC has also introduced the Referral Programme that can fetch you added rewards and offers at participating merchants.
HSBC Personal Loans can be further classified into two categories -
- HSBC’s Personal Line of Credit Balance Transfer
- HSBC’s Personal Loan referral programme
HSBC Home Loans
HSBC Home Loan offers a host of interest rate packages allowing you to choose one that best suits your needs and interest. The interest rate packages offered by HSBC includes SIBOR pegged loans, Variable rate loans, fixed rate loans and SMartMortgage (allows you to save on your interest charges). You can use this home for a host of reasons including buying a new home and refinancing your current home loan.
You can use the HSBC Home Loans for the following reasons -
- Purchasing a new property
- Refinancing your current home loan
- Applying for a HSBC Construction Loan
- Purchasing a property for commercial purpose
- Applying for a home equity loan
The Auto Refinancing Loan offered by HSBC bank is currently only made available to existing HSBC customers. This loan offers a flat Add on interest rate structure with full redemption and monthly payments to be made in advance. Partial redemption of this loan is not available.
Products and Services offered by HSBC in Singapore
When in Singapore, approach HSBC for all your banking- related needs. HSBC has a wide range of products and services for a person to choose from. Be it cards, loans, insurance, HSBC has solutions for all of them. The various products and services offered by the bank in Singapore are as follows -
- Credit Cards
- Debit Cards
- Home Loans
- Personal Loans
- HSBC Premier
- HSBC Advance
- Safe Deposit Box
- Self - Service Channels
HSBC has 6100 offices in 72 countries and territories including Singapore.
Over the years, HSBC has received a lot of prestigious awards. The Euromoney Awards for Excellence in 2014 gave the Best Emerging Markets Bank, Best Emerging Markets Debt House, Best Global Infrastructure House and Best Wholesale Bank for Technology Innovation awards to HSBC. In the same year, HSBC was named the Best Global Cash Management Bank for financial institutions and corporates by the Euromoney Cash Management Survey and The Banker Innovation in Investment Banking Awards honored the bank with the Most Innovative Investment Bank for Islamic Finance, Syndicated Loans, Natural Resources and Commodities, Sovereigns, Supranationals and Agencies Award. In 2014, the bank also won awards at IFR Awards and Forum for Expatriate Management Awards.
In 2015, HSBC won awards at the Risk Awards, MENA Fund Manager Awards, Latin Finance Awards for the Year 2014, UK Pensions Awards, Standard & Poor’s and Valor Investe Magazine Awards, Asiamoney Offshore RMB Poll, HFM European Services Awards and Trade Finance Awards for Excellence. In February 2015, Euromoney Private Banking and Wealth Management Survey named HSBC the number one bank for International Clients in Hong Kong, The United Kingdom and 15 other countries, the number one bank for Private Banking Services Overall in Kuwait, Monaco and Bahrain, and the number 1 bank for Succession Planning Advice and Trusts in Malaysia. In the same year, the Euromoney FX Survey recognized HSBC as the no. 1 Bank for Corporates - Global Market Share and Private Banker International Greater China Awards gave the Best Offshore Renminbi Offering award to HSBC.