From 2.92%

Interest Rate*

What is Effective Interest Rate (EIR)?

The true cost of taking a loan in Singapore. Loan interest rate is not the only cost, and there are often other costs such as admin fees.

^S$10,876

Total Amount Payable

S$0

Processing Fee

What is a processing fee?

The processing fee can either be a percentage or a fixed amount on top of the loan. It is usually applied as a once-off charge at the beginning of the loan.

All Details

• Key Features

  • You will need a Personal Line of Credit account to apply for Instalment Plan (Personal Loan)

  • The current promotional interest rate for HSBC Instalment Plan (Personal Loan) is from 2.92% p.a. (EIR 5.5% p.a.) with no processing fee

  • The maximum period for repayment of HSBC personal loan (instalment plan with fixed monthly payment) is 7 years - Unique feature is most banks in Singapore are offering up to 5 years only

  • The HSBC Personal Line of Credit Instalment Plan (Personal Loan) has a tenure of 1-7 years.

  • A minimum loan size of SGD 10,000 and a tenor of at least 2 years get rewarded with a total cash back of SGD 3,000

  • No supporting documents are required for existing HSBC Personal Line of Credit customers

  • The minimum annual income for employed Singaporeans/PR to qualify for HSBC Personal Line of Credit is S$30K. For foreigners, the minimum annual income amount is S$10K higher than Singaporeans/PRs - S$40K

  • The maximum amount a Singaporean/PR with an annual income of S$30K can obtain with the HSBC personal loan is 4X your monthly income. Individuals earning an annual income of S$120K are able to obtain up to 8X their monthly income

  • Foreigners with annual income of at least S$40K can get a credit limit of up to 1X their monthly salary

  • The minimum monthly payment for the HSBC Personal Loan is 3% or SGD 15, whichever is higher

  • The late payment fee for HSBC Personal Loan is S$75

  • There is an annual fee of S$60 every year (first year waived)

  • Note that the rates provided to you are customised and might differ from what is displayed here. HSBC is regulated by the Monetary Authority of Singapore.

• Repayment Summary

  Total Interest Payable	S$876
  Monthly Payment	S$302
  Total Amount Payable	S$10,876
  Processing Fee	S$0
  Effective Interest Rate	5.5%
  Annual Interest Rate	2.92%
  Approval Duration	1 min approval in principal
  Citizenship	Singaporean/Pr
  Principal Loan Amount	S$10,000
  Loan Tenure	3 Years
  Minimum Annual Income	S$30,000
  Maximum Loan Tenure	7 Years

Eligibility

Citizenship Status	Singaporean / PR
Age Requirement	21 - 65 years old
Employment Status	Salaried Employee, Variable/Commission-based Employees or Self Employed
Minimum Annual Income	S$30,000

Fees & Charges

Processing Fee	S$0
Late Payment Fee	2.5% + prevailing interest on overdue amount
Partial Repayment Penalty	2.5% of redemption amount
Full Repayment Penalty	2.5% of redemption amount

Loan Features

Processing Fee Waiver
Instant Approval
Guaranteed Interest Rate

Product Documents

Product Information	Read Now