HSBC Personal Loan Review: Cheapest Loan for Medium-High Income Earners

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HSBC’s Personal Loan is a personal instalment loan with the lowest guaranteed flat interest rates of 3.7% p.a in the market for annual incomes of above S$80,000. It comes with no processing fees and no annual fees. This is also the only loan that lets you borrow for up to 7 years (all other loans are up to 5 years) and can let you borrow for up to 8x monthly income if your annual income exceeds S$120,000.

The guaranteed lowest interest rate is a great financing option that can help you borrow money for big ticket purchases and/or clearing off high interest debt.

HSBC Personal Loan

Summary: HSBC’s Personal Loan

Lowest interest rate

HSBC’s Personal Loan comes with the lowest flat interest rate of 3.7% p.a for annual incomes of above S$80,000. This compares to the average flat interest rate in the market of around 6% to 7% p.a. This means you can save thousands in interest by opting for this personal instalment loan.

Guaranteed interest rate

HSBC’s Personal Loan’s flat interest rates of 3.7% p.a. (for above S$80,000 annual income) and 4.8% p.a. (for below S$80,000 annual income) is guaranteed upon approval. What this means is you enjoy this flat rate regardless of your credit profile. The interest rate is flat across loan amounts but varies according to the loan tenures (how long you take the loan for).

For applicants with annual income of $80,000 and above:

For applicants with annual income of below $80,000:

HSBC Personal Loan comparison table

No annual fees or processing fees

There are no annual fees or processing fees charged for this loan

1 minute in-principle approval

Get an in-principle approval on your loan application in one minute, saving you from waiting days or weeks to know the status of your application.

How HSBC’s Personal Loan compares against others

*Rate available only on SingSaver platform, offer expires 31 Oct 2018
**Rate varies depending on credit profile

HSBC Personal Loan comparison table

*Rate available only on SingSaver platform, offer expires 31 Oct 2018
**Rate varies depending on credit profile

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Rohith Murthy


By Rohith Murthy
Rohith leads SingSaver, a financial comparison site aimed at helping consumers in Singapore save money and time by finding the right financial products.