HSBC Personal Loan
Updated: 11 Sept 2025
- One of the lowest interest rates from 1.80% p.a (EIR 3.50% p.a) for those earning min. S$30,000 annually.
- No processing fees
- Instant disbursement upon approval to an HSBC bank account
- Get a 1-minute in-principle approval on your HSBC Personal Loan
- Max. loan amount equal to 90/95% of approved credit limit at time of application
- Min. loan amount of S$1,000
- Option to borrow at a slightly longer loan tenure of 7 years
- Early repayment fee: 2.5% of the repayment amount
- Overdue interest: 2.5% + prevailing interest on overdue amount
- Late payment fee: S$75 for each monthly repayment that is not received in full by the monthly due date
1. NRIC (Front & Back)
2. For salaried employees: Last 3 months’ computerised payslip, or latest Income Tax Notice of Assessment with latest 1 month’s computerised payslip, or latest 6 months’ CPF statement (for Singaporeans or PRs)
3. For self-employed persons: Last 2 years’ Income Tax Notice of Assessment
The information displayed above is for reference only. The actual rates offered to you will be based on your credit score and is subject to the provider’s approval.
🏦 HSBC Personal Loan Overview
Key Features
- Promo interest rate from 1.80% p.a. (EIR ~3.50% p.a.) with no processing fee
- Longest repayment tenor in market up to 7 years
- Borrow up to 4× monthly income (or 8× if annual income ≥ S$120,000; max limit S$200K)
- Application via SingPass MyInfo for faster approval
- Up to S$1,100 cash depending on loan amount and tenure via SingSaver
- Open to Singaporeans, PRs (min S$30K), and foreigners (min S$40K, valid work pass)
How to Apply
- Apply via SingPass MyInfo; existing Personal Line of Credit customers may enjoy faster approval without documents
- Enter loan amount and tenure, select payout bank
- Review personalised rate, EIR and estimated repayments
- Submit & receive approval in principle within a minute and cash disbursal to your bank (instantly for HSBC; up to 5 business days for non‑HSBC)
Interest & Repayment
- Headline rate ~1.80% p.a., Effective Interest Rate from ~3.50% p.a.
- Example: S$10,000 over 36 months → total repayable ≈ S$10,220; monthly ≈ S$852
- Minimum monthly payment is 3% of balance or S$15, whichever higher
Fees & Charges
- Processing Fee: Waived (0%) for promotional period
- Annual Fee: S$120 (first year waived for new applicants)
- Late Payment Fee: S$120 per missed instalment
- Early Repayment Penalty: 2.5% of redemption amount (same for partial or full early settlement)
Pros & Cons
✅ Pros
- Lowest rate from 1.80% p.a. (EIR ~3.50%)
- Longest tenure up to 7 years, ideal for lower monthly payments
- No processing fee
- Instant in-principle approval via SingPass
- Attractive cashback up to S$1,100 via SingSaver promo
- Accessible to foreigners with relatively low income requirement
❌ Cons
- Annual fee applies each year after first (S$120)
- Cash disbursement to non-HSBC accounts may take up to 5 days
- Early settlement penalty of 2.5%
- Cashback only applies to loans ≥ S$10,000 and ≥3-year tenure
Other Notable Features
- No need for existing HSBC credit card or savings account to apply
- Borrowing limit up to S$200,000 depending on your income
- Flexible repayment plan suitable for debt consolidation, renovation, education or cash buffer
Pros and cons
Pros
Promotional rates from 2.2% p.a.
Longer loan tenor of up to 7 years
No processing fee
High loan amount (up to S$200,000)
Instant cash disbursement
Cashback up to 2%
Cons
Cashback only applies for loans ≥3 years and S$10,000
Early repayment penalty applies
How to apply for an HSBC Personal Loan
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Click the “Apply Now” button on this page.
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Fill in the online application form with personal and income details.
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Submit required documents (not needed if you have HSBC Personal Line of Credit).
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Wait for instant approval.
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Upon approval, the loan is disbursed directly to your account.
Frequently Asked Questions about the HSBC Personal Loan
You can borrow from S$1,000 up to 8 times your monthly income, capped at S$200,000.
Rates start from 2.2% p.a. (EIR 4.0% p.a.), with preferential rates for HSBC Premier customers
No, HSBC Personal Loan comes with zero processing fees.
Yes, provided you earn at least S$60,000 annually and hold a valid Employment Pass.
Yes, but early repayment incurs a fee, which will be specified in your Notification Letter.