• Personal Loan BYTES FROM OUR KITCHEN

    Get instant cash whenever you need it with the HSBC’s Personal Line of Credit

    It’s an unsecured revolving credit facility that allows you to borrow funds as and when you need them. With HSBC’s Personal Line of Credit, you can borrow up to six times your monthly income. Regardless of your overall credit limit, you will be charged interest only on the amount you use. Depending on your relationship with HSBC, interest rates vary in the range of 12% p.a. to 18.5% p.a.

    Features and Benefits

    • Borrow up to six times your monthly income, depending on your annual income and nationality. In any case, your credit limit can’t exceed S$100,000.
    • Enjoy preferential interest rates, if you are an HSBC Premier customer, HSBC Advance customer, or an HSBC’s Revolution customer.
    • Enjoy annual fee waivers.
    • Get flexibility in your monthly repayments.
    • Enjoy multiple ways to access funds. You can make withdrawals from this credit facility through ATMs, iBanking funds transfer, debit card swiping, and cheques. The debit card and chequebook are complimentary.
    • Get access to HSBC’s Personal Line of Credit Balance Transfer facility that allows you to repay your existing debts to save on your overall interest charges.

    Interest Rates

    Relationship With HSBC HSBC Premier Customers HSBC Advance Customers HSBC’s Revolution Customers Retail Banking Customers
    Interest Rates 12.% p.a. 16.5% p.a. 18.5% p.a.

    Fees and Charges

    Annual fee
    • HSBC Premier customers: Perpetual waiver
    • HSBC Advance and HSBC’s Revolution customers: S$60 (waived for the first two years)
    • Retail banking customers: S$60 (waived for the first year)
    Late payment fee S$75
    Minimum interest charge S$10
    Debit card replacement fee S$5
    Unsuccessful standing instructions or Interbank GIRO S$30
    Returned cheque fee S$50 (if returned due to insufficient funds) S$10 (if returned due to technical issues)
    Interest rate on amount borrowed in excess of limit 3% p.a. on top of prevailing rate
    Charges for early closure of account S$40 (if account is closed within six months from the date of opening)
    Statement retrieval fee S$20 for each copy

    Check Your Eligibility

    • You must be an individual aged 21 – 65 years.
    • If you are a Singaporean or a Singaporean PR, you must have an annual income of at least S$30,000.
    • If you are a foreigner, you must have an annual income of at least S$40,000.

    Documents required

    Salaried employees:

    • A copy of NRIC (front and back) or a copy of passport.
    • Computerised payslips for the last three months/Latest Income Tax bill with computerised payslip for the last one month/CPF contribution statement for the last six months.

    Self-employed individuals:

    • A copy of NRIC (front and back) or a copy of passport.
    • Income Tax Notice of Assessment for the last two years.

    Foreigners:

    • A copy of passport’s front page with identification details.
    • Employment pass with validity of minimum one year.
    • Computerised payslips for the last three months or latest Income Tax bill.

    How to Apply

    You can apply for it through HSBC’s website by filling out an application form. You will also have to submit all the required supporting documents to finish the application process.

    FAQs

    Q. Does the Personal Line of Credit require any collateral or guarantor?

    A. No, it doesn’t require any guarantor or collateral as it’s an unsecured credit facility.

    Q. How much credit limit am I eligible for?

    A. If you are a Singaporean with annual income in the range of S$30,000 to S$119,999, you can apply for a limit of up to four times your monthly income. However, if your annual income is S$120,000 or more, you can apply for a limit of up six times your monthly income.

    If you are a foreigner with annual income of at least S$40,000, you can apply for a limit of up to four times your monthly income.

    Q. Can I state my preferred credit limit while applying?

    A. Yes, you can state your preference, but the approval will be at the bank’s discretion. The bank may or may not approve the limit you have requested.

    Q. Can I get my credit limit increased?

    A. Yes. You will have to fill out the Credit Limit Review Form for that. Once you have completed the form, you will have to send it to the bank with all the required income documents.

    Q. How do I know my payment due date?

    A. You can check your payment due date from your monthly statement. It is 22 days from the date of the statement.

    Q. What options do I have for making my monthly repayments?

    A. You can make your monthly repayments in any of the following way:

    • Cash
    • ATM
    • Cheque
    • Internet banking
    • SingPost branches
    • Cash deposit machine
    • AXS and SAM stations
  • reTH65gcmBgCJ7k
    This Page is BLOCKED as it is using Iframes.