HSBC Personal Line of Credit is a type of personal loan that gives you a line of credit that you can use at your convenience. You will be charged an interest on the amount you use and you can make repayments depending on your convenience, with the interest amount requiring payment on a monthly basis.
Let’s take a look at some notable features, the various benefits, the eligibility criteria and other related details of the HSBC Personal Line of Credit.
Maintain an average monthly balance in your debit account of S$1,500 for the first three months of approval of your HSBC credit line (any one of the months) and enjoy a 50% interest rebate. The application should be processed before 30 September 2017 to enjoy this discounted interest offer.
The Personal Line of Credit is provided to Singaporean citizens, Permanent Residents and foreigners against their credit card. Let’s take a look at some notable features associated with the credit product:
|HSBC Credit Card||Current Interest Rate||Promotional Offer (50% Rebate)|
|Premier Credit Card||12% p.a.||6% p.a.|
|Revolution Card, Platinum Card, Advance Card||16.5% p.a.||8.25% p.a.|
|HSBC Retail Banking Customers||18.5% p.a.||9.25% p.a.|
|Tenure for repayment||6-month tenure||12-month tenure|
|Rate of Interest||4.41% p.a.||5.92% p.a.|
You can apply for the HSBC Personal Line of Credit by visiting the official HSBC Singapore website and filling out the online application form. You will also need to submit your supporting documents, following which an executive from the bank will get in touch with you and help you take your application process forward.
A. Your Credit limit (maximum) will be six times your net monthly income. You can, however, choose a credit limit you prefer.
A. Yes. You can use the entire amount at once or in parts. You will be charged interest only for the amount you use.
A. No. you don’t have to submit any collateral to apply for the Personal Line of Credit.