HSBC Personal Loan

HSBC Personal Loan

HSBC Personal Loan

HSBC Personal Loan

Per MonthS$852
Apply Now
Back to all Personal Loan
Quick Application via MyInfo, Instant Disbursement
If you need to borrow a large amount but cannot afford a big monthly repayment, consider the HSBC personal loan offers the longest loan tenure (7 years!) in Singapore. You do not need an HSBC account or credit card to apply for this loan; however, it can take up to 5 days to approve the loan.
From 2.20% p.a.
Interest Rate*
S$10,220
Total Amount Payable
S$0
Processing Fee
MoneySmart Exclusive

Get up to S$1,100 Cash via PayNow or earn up to 13,320 SmartPoints! Use SmartPoints earned to redeem any product of your choice from our Rewards Store! T&Cs apply.

Valid until 31 Jul 2025 - See more details below

Are you eligible?

    • Promotion is valid from 05-July-2025 till 31-July-2025.

    • Customers must apply through MoneySmart to be eligible

    • Receive your rewards when you get approved for a min. loan amount of S$8,000 with a min loan tenure of 3 years. T&Cs apply.

    • Provide HSBC their consent to receive marketing and promotional materials from HSBC at the time of submitting their application

What you need to know

  1. Log into your MoneySmart account and submit your claim by 30th August 2025

  2. S$8,000 - S$9,999 Loan Size:
    Incentive : 1,000 SmartPoints (redeemable for 3,000 KrisFlyer Miles in the Rewards Store)

  3. S$10,000 - S$14,999 Loan Size:
    Incentive : S$150 Cash via PayNow or 1,500 SmartPoints
    (redeemable for TTRacing Duo V3 Gaming Chair worth S$219 in the Rewards Store)

  4. S$15,000 - S$19,999 Loan Size:
    Incentive : S$225 Cash via PayNow or 2,500 SmartPoints
    (redeemable for Hinomi Q1 Ergonomic Chair worth S$499 in the Rewards Store)

  5. S$20,000 - S$29,999 Loan Size:
    Incentive : S$300 Cash via PayNow or 4,030 SmartPoints
    (redeemable for Apple AirPods Pro 2 worth S$349 in the Rewards Store)

  6. S$30,000 - S$49,999 Loan Size:
    Incentive : S$450 Cash via PayNow or 6,140 SmartPoints
    (redeemable for Apple iPad 11th Gen worth S$499 in the Rewards Store)

  7. S$50,000 - S$79,999 Loan Size:
    Incentive : S$700 Cash via PayNow or 8,545 SmartPoints
    (redeemable for Sony PS5 SLIM Disc worth S$799 in the Rewards Store)

  8. S$80,000 and above Loan Size:
    Incentive : S$1,100 Cash via PayNow or 13,320 SmartPoints
    (redeemable for Apple iPhone 16 128GB worth S$1,299 in the Rewards Store)

  9. Please note that rewards will typically be fulfilled approximately 4 - 5 months after the end of the campaign month (31 July 2025).

  10. * Enjoy the promotional interest rates from as low as 2.20% (EIR from 4.00%) with no processing fee

T&Cs
FAQ
Claim Form

Quick Facts

Loan Approval Time

1 minute in-principle approval

Loan Disbursement

3 to 5 business days

All Details

Back to all Personal Loan

Disclaimer: At MoneySmart.sg, we strive to keep our information accurate and up to date. This information may be different than what you see when you visit a financial institution, service provider or specific product’s site. All financial products and services are presented without warranty. Additionally, this site may be compensated through third party advertisers. However, the results of our comparison tools which are not marked as sponsored are always based on objective analysis first.

Per Month
S$852
Apply Now

HSBC Personal Loan Benefits 2025

HSBC is a trusted bank in Singapore offering a wide range of financial products, including personal loans tailored for both foreigners and locals alike. The HSBC Personal Loan offers flexible repayment terms, making it a suitable choice for various financial needs, especially big-ticket expenses like wedding loans, home renovation, and business financing.

With a choice of fixed instalments up to 84 months' tenure (7 years), its competitive annual interest rates and effective interest rate (EIR) helps it stand out from other personal loans, including those from licensed moneylenders. Loan terms and rates can be customised based on individual profiles, so the actual rate you receive will depend on factors assessed by the bank.

Let’s dive deeper in this review, exploring key features of the HSBC Personal Loan, and see how it stacks up against some of its closest competitors.

Pros and Cons of HSBC Personal Loan

Pros ✅

  • Attractive promo interest rate from 1.99% p.a. (EIR 3.80% p.a.). T&Cs apply.
  • Longest loan tenure of 7 years around as compared to other similar bank personal loans
  • Fast loan approval and cash disbursement for online applications for HSBC bank accounts only
  • Convenient online application with SingPass for quicker application
  • Open to Singapore Citizens, PRs, and foreigners with a valid Singapore Employment Pass (all categories to be aged 21 to 65)
  • Relatively low minimum annual income of $40,000 for foreigners
  • Flexible repayment loan tenor (1 to 7 years)
  • No need to be existing HSBC Credit card holder or account holder to apply for this loan
  • Singaporeans and PRs can borrow up to 4X or 8X their monthly salary depending on annual income
  • Up to S$200,000 credit limit
  • 1% cashback for 3-year loan tenures; 1.5% cashback for 4- to 5-year loan tenures; 2% cashback for 6- to 7-year loan tenures

    • Cons ❌

  • Finalised interest rate offer depends on borrower’s credit profile and subject to bank’s discretion
  • New HSBC Credit card holder or account holders may need to wait up to 5 working days for loan approval
  • Credit limit depends on annual income
  • Foreigners can only borrow up to 1X their monthly income
  • No cashback earned for 1- to 2-year loan tenures
  • Minimum loan amount of $10,000 to earn base cashback

    • How Are HSBC Personal Loan’s Repayment Terms Like?

    Since HSBC does not disclose their interest rates upfront on their website, finding the most accurate estimated rate is only possible upon applying for a loan with HSBC. Currently, their advertised promotional interest rate starts from 1.99% p.a. (EIR 3.80% p.a.), along with up to 2% cashback! 🪙

    To make things easier to understand, take this scenario for example.

  • Loan amount: $20,000
  • Loan tenure: 5 years (60 months)
  • Promo interest rate: From 1.99% p.a. (EIR 3.80% p.a.)
  • Monthly income: $4,000

    • Based on the EIR 3.80% p.a., your estimated monthly repayment would be around $367, with a total amount repayable of $21,992.
    EIR always paints a more realistic picture of the true borrowing cost, since it includes factors like frequency and number of instalments, fixed or varied repayments, and any other administrative or processing fees involved.

    Disclaimer: Interest rates are personalised, so yours might differ from this example which was calculated using HSBC’s personal loan calculator.

    Check Out Our Review Of HSBC Personal Loan In This Article!

    Read Now

    HSBC Personal Loan Application

    Before you start applying for the HSBC Personal Loan, it’s important to plan your finances well and only take up a manageable loan amount that you can afford to pay off in monthly instalments, and consider the other costs involved such as Effective Interest Rate (EIR), processing fees, annual fees, vice versa.

    Here are 3 simple steps to apply for the HSBC Personal Loan:

    Step 1

    Apply via MoneySmart’s Personal Loans page


    You may begin your application clicking on the HSBC Personal Loan Apply Now button. If you choose to apply online via SingPass MyInfo, HSBC will pull your identity and income data from SingPass (which is already verified), thus cutting short the processing time. The approval-in-principle page will appear within minutes of submitting your MyInfo.

    Step 2

    Provide all necessary documentations


    The required documents for HSBC personal loan are:

    For salaried employees:
  • Completed and signed Letter of Instruction
  • NRIC (front and back)
  • Notice of Assessment and CPF Statement via Myinfo
  • Latest 3 months’ computerised payslip (if monthly income > $6,000)
  • Proof of billing address (where applicable)

    • For full transparency on documents required for commission-based earners, self-employed, and foreigners, please refer to HSBC’s official website.
    Step 3

    Select your monthly repayment plan


    Decide on your required amount before picking the suitable plan and also pick your preferred HSBC or non-HSBC savings account to receive your funds, or provide the details of your other bank accounts.

    Step 4

    Review and confirm details


    After completing the application form and providing required documents, you will likely be directed to a review and confirm page.

    Carefully review all the information you have entered throughout the application process. This includes:
  • Personal details like your name, NRIC, contact information, employment details, etc.
  • Loan details such as requested loan amount, loan tenure (repayment period), interest rate, and monthly repayment amount.
  • Bank account details which you have to ensure that the chosen bank account number for receiving the loan funds you've provided is correct.
    • Step 5

    Receive your cash disbursement quickly


    The cash loan amount should be disbursed to your designated savings account upon successful approval.

    Frequently Asked Questions About HSBC Personal Loan

    What are the annual fee and processing fees payable if I take up the HSBC loan?

    HSBC does not charge any processing fees but charges an annual fee of $120 (first year waived).

    How do I apply for the HSBC Personal Loan?

    You can apply for the HSBC Personal Loan in 3 simple steps.
    1. Click “Apply Now” on the HSBC Personal Loan option on MoneySmart’s Personal Loans page
    2. Provide your NRIC or other identification details, latest computerised payslip, latest 6 months’ CPF Contribution History Statement, and latest Income Tax Notice of Assessment (NOA) if you wish to be considered for a higher loan amount
    3. Receive your loan disbursement (approval in principle within 1 minute) to your account upon application approval. Otherwise, disbursement may take 1 – 5 working days if pending approval.

    Am I eligible for the HSBC Personal Loan?

    If you’re a Singapore Citizen, Permanent Resident (PR) or foreigner with a valid Singapore Employment Pass, you’re eligible to apply for the Standard Chartered CashOne personal loan, as long as you’re aged 21 and above, and earn a minimum annual income of $30,000 (for Singaporeans and PRs) or $40,000 (for foreigners).

    What is the minimum monthly payment for HSBC Personal Loan?

    It is 3% of the outstanding balance or $15, whichever is higher.

    If I’m late for my monthly instalment, how much do I have to pay?

    The late payment fee is $120.

    When will I receive the approved loan amount in my bank account?

    For HSBC bank accounts, your funds will be disbursed to you instantly upon approval. For non-HSBC bank accounts, this might take a little longer between 1 to 5 working days.

    How much cashback will I receive from the HSBC Personal Loan?

    Earn up to $3,600 cashback on minimum loan mounts of $10,000:
  • 3 years: 1% cashback
  • 4 to 5 years: 1.5% cashback
  • 6 to 7 years: 2% cashback

    • I am an existing HSBC cardholder, will taking up the HSBC Personal Loan affect the credit limit of my card?

    Yes, taking up a HSBC Personal Loan will affect your credit limit since HSBC considers all unsecured facilities like personal loans and credit cards when determining overall credit limit. Your available credit limit will be reinstated upon monthly repayment.