HSBC Home Loan
HSBC Bank offers a wide range of home loan schemes at very attractive interest rates. The floating interest rates are linked to the bank's Repo Linked Lending Rate (RLLR).
Interest rates start at 7.70% p.a. You can avail a maximum tenure ranging from 20 to 25 years. The maximum loan amount that can be availed is Rs.40 crore.
HSBC Bank Home Loans Schemes
- HSBC Smart Loan
- Interest rate: 8.10% p.a. onwards
- Processing Fees: 1% of loan amount or Rs.10,000, whatever is higher
- Interest charges are applicable on a floating basis
- Fixed interest rates not offered on this loan type
- Tenure of 20 years for repayment
- Smart Loan account facility that acts like Current Account
- Commitment fee and conversion fee applicable
- Loan Against Property
- Interest rate: 8.45% p.a.(floating), 13.50% p.a. (fixed)
- Processing Fees: 1% of loan amount or Rs.10,000, whatever is higher
- Get loan on residential property owned
- Simple and hassle-free documentation
- Repayment tenure of 15 years
- Smart Loan Against Property
- Interest rate: 8.60% p.a. onwards
- Processing Fees: 1% of loan amount or Rs.10,000, whatever is higher
- Loan on residential property granted via SmartLAP account
- Maximum upper cap is Rs.40 crore and repayment period is 15 years
- No prepayment charges
- NRI Home Loans
- Interest Rate: 7.70% p.a. onwards
- Up to Rs.40 crore may be provided as a loan
- Repayment tenure of up to 25 years
- No foreclosure charges are levied
- NRI Loan Against Property (LAP)
- Interest Rate: 8.45% p.a. onwards
- Up to Rs.40 crore may be provided as a loan
- Repayment tenure of up to 15 years
- No foreclosure charges are levied
Compare: Home Loan Interest Rate all Banks
HSBC Home Loan Interest Rate
The interest rates for HSBC Home Loan are given below:
Category | Interest Rate |
Salaried | 7.85% p.a. |
Self-Employed | 7.95% p.a. |
Balance Transfer | 7.70% p.a. |
HSBC Bank Home Loan EMI Calculator
Loan applicants should have a basic idea of what their EMIs would look like. This will help applicants better plan their finances and also decide on what repayment tenures work for them. To calculate what EMIs could be, enter a few loan-related details on Home Loan EMI Calculator. To compute the EMI, key in the total loan amount, tenure, rate of interest, and the processing fees. Proceed to click on the 'Calculate' option, after which you see on the screen and your EMI will be displayed. A detailed loan amortisation table will also be displayed.
HSBC Home Loan Eligibility Criteria
- Minimum annual income - Rs.5 lakh p.a. for employed and Rs.7.5 lakh p.a. for unemployed
- Applicant should be at least 21 years
HSBC Home Loan Documents Required
- ID proof documents.
- Address proof documents.
- Income proof documents.
- Property documents (in case of loan against property).
FAQs on HSBC Home Loan
- Can I apply for a home loan if my property is under construction?
Yes. In this case, the loan will be granted in tranches.
- How long does it take for the loan to be granted?
Typically, loans will be approved around 5 days after documents are submitted. However, this will vary based on a case to case basis.
- What is the maximum age for availing a housing loan with HSBC Bank?
It is 58 years for salaried applicants, 60 years for government and public limited employees and 65 years for self-employed individuals.
- Can Non-Resident Indians (NRIs) avail loans from HSBC Bank?
NRIs will be granted loans as long as they have a local co-applicant.
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