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 attractive gifts like an Apple Watch Ultra 2 (worth S$1,199) or a Sony PS5 (SLIM) Digital (worth S$669) or an Apple iPad 10th Gen, 64GB (worth S$499) or an Apple AirPods Pro 2 (worth S$349) or up to S$1,000 Cash via PayNow, when you apply for a min loan of S$8,000 with a min 3 year loan tenure! T&Cs apply.

Valid until 30 Apr 2025 - See more details below

Are you eligible?

    • Promotion is valid from 14-April-2025 till 30-April-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 May 2025

  2. S$8,000 - S$9,999 Loan Size:
    Incentive : S$100 Cash via PayNow

  3. S$10,000 - S$14,999 Loan Size:
    Incentive : S$130 Cash via PayNow

  4. S$15,000 - S$19,999 Loan Size:
    Incentive : S$200 Cash via PayNow

  5. S$20,000 - S$29,999 Loan Size:
    Incentive : S$270 Cash via PayNow OR Apple AirPods Pro 2nd Gen (worth S$349)

  6. S$30,000 - S$49,999 Loan Size:
    Incentive : S$420 Cash via PayNow OR Apple iPad 10.9-inch Wi-Fi 64GB (10th Generation) (worth S$499)

  7. S$50,000 - S$79,999 Loan Size:
    Incentive : S$650 Cash via PayNow OR Sony PlayStation® 5 (SLIM) Digital Edition (worth S$669)

  8. S$80,000 and above Loan Size:
    Incentive : S$1,000 Cash via PayNow OR Apple Watch Ultra 2 (worth S$1,199)

  9. Please note that gift will typically be fulfilled approximately 4 - 5 months after the end of the campaign month (30 April 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 Sure-Win Spins 🎊

Love being a winner? Here's a sure-win lucky draw you don't want to miss!

From 13 Jan to 13 Apr 2025, all HSBC Personal Loan applicants borrowing a minimum loan of $15,000 with a qualifying loan tenure of at least 12 months will be entitled to a 1x sure-win spin* to win attractive prizes such as a round-trip Business Class ticket from Singapore to either London/Tokyo/Bali! ✈️

⭐ And yes, this sure-win prize is stackable on top of our other ongoing MoneySmart-exclusive rewards! So what're you waiting for? It's time to borrow, win, and kickstart your world tour!

*Each qualifying customer can receive a maximum of up to 3 spins only. Click here for more info.

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. Whether you’re exploring a personal loan from HSBC for big-ticket expenses like wedding loans, home renovation, or other expenses, the HSBC Personal Loan stands out as an attractive loan option.

The HSBC Personal Loan is offered with a choice of fixed instalments up to 84 months' tenure (7 years), at competitive annual interest rates and effective interest rate (EIR). As most interest rates are kind of personalised for each customer, the HSBC personal loan rates you get might differ, depending on other factors which the bank will take into consideration.

Let’s dive deeper in this review, look at the highlights of taking up a personal loan from HSBC, and see how it compares to some of its closest competitors.

Pros and Cons of HSBC Personal Loan

Pros ✅

  • Attractive promo interest rate from 2.92% p.a. (EIR 5.50% p.a.) to a maximum of 10.10% p.a. (EIR 16.50% 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, it is only possible to find out your most accurate estimated rate upon applying for a loan with HSBC. Currently, their advertised interest rates start at 2.92% with an EIR from 5.50%, though these rates may change based on global economic conditions.

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

    Let’s say you’re taking up a $20,000 loan over 5 years for your wedding and honeymoon expenses and your monthly income is about $4,000. With an interest rate of 2.92% p.a., your estimated monthly repayment amount would be $383, taking into account the EIR of 5.50% p.a. which can be determined by many other factors besides the interest you are charged, such as your number of installments, frequency of installments, whether your installment amounts are equal or not, administrative fee or processing fees.

    Here's a quick breakdown of the estimated calculation: Loan amount: S$20,000
    Interest rate: 2.92% p.a. (EIR 5.50% p.a.)
    Total interest payable: 2.92% p.a. x S$20,000 x 5 years = S$2,920
    Total repayment: S$22,922
    Monthly instalment: S$382


    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

    Eligibility Requirements for HSBC Personal Loan

    Eligibility Criteria HSBC Personal Loan
    Citizenship status Singaporeans and PRs, foreigners
    Minimum age 21 years and above
    Employment status Employed
    Minimum annual income From $30,000
    SingPass compatible? Yes ✅

    The minimum annual income requirements for salaried Singaporeans and PRs is $30,000 and $40,000 for foreigners and self-employed or commission-based Singaporeans. Compared to other banks’ personal loans, these minimum annual income requirements are relatively lower, making the HSBC Personal Loan more accessible for both locals and foreigners alike.

    For those not applying for the HSBC Personal Loan via SingPass or if the Myinfo was insufficient, the following documents will need to be manually provided:

    Salaried employees Commission-based earners Self-employed
    Completed and signed Letter of Instruction
    NRIC (front & back)
    Notice of Assessment and CPF Statement via MyInfo (SingPass login required) Notice of Assessment and CPF Statement via MyInfo (SingPass login required) Notice of Assessment and CPF Statement via MyInfo (SingPass login required)
    Preferred
    Latest 3 months’ computerised payslips
    (if monthly income > $6,000)     		— —
    — — Latest 2 years' Notice of Assessment
    (not required if NOA and CPF Statement submitted via Myinfo)
    Proof of billing address (where applicable)

    Note: Document requirements may vary depending on HSBC's assessment. It's best to check the latest criteria on their official website before applying.


    For foreign applicants, please refer to HSBC’s official website for the relevant documents required such as valid passport, employment pass/S pass, and others.

    HSBC Personal Loan Interest Rates & Fees

    How exactly does HSBC Personal Loan compare against other bank loan options like SCB CashOne Personal Loan and UOB Personal Loan? These 2 are also popular personal loan options offering competitive interest rates and monthly instalment repayments.

    Key factors that we’ll look at are interest rates, minimum annual income, monthly instalments & total amount repayable, and more.

    Comparison: HSBC Personal Loan vs SCB CashOne Personal Loan vs UOB Personal Loan


    Loan Provider HSBC Personal Loan SCB CashOne UOB Personal Loan
    Interest rate From 2.92% p.a. From 1.90% p.a. From 2.88% p.a.
    Effective Interest Rate (EIR) 5.50% p.a. From 3.63% p.a. From 5.43% p.a.
    Annual fee $120 (First year waived) $199 for Year 1 (from Year 2 onwards) None
    Total interest payable $220 $190 $288
    Total amount payable $10,220 $10,190 $10,288
    Principal loan amount* $10,000 $10,000 $10,000
    Monthly payment* $852 $849 $857
    Minimum annual income $30,000 for employed Singaporeans and PRs

    $40,000 for foreigners and self-employed/commission-based Singaporeans and PRs     		$20,000 $20,000
    Maximum loan tenure 7 years 5 years 5 years
    Loan disbursement speed Instant upon approval to HSBC bank account

    1–3 working days to other bank accounts     		Instant approval (if applied online during business hours from 8am – 9pm) Instant approval and cash disbursement to PayNow-linked bank account once qualified

    Minimum loan amount starts from $2,000
    Processing fee $0 $0 1% for loan amount below $5,000
    Cancellation fee 2.5% of repayment amount for early (partial or full) repayment $150 or 3% of the outstanding principal balance, whichever is higher 1% of undisbursed loan amount
    Late payment fee $120 $100 $100

    *Assuming $10,000 borrowed loan amount over a 1-year tenure. Actual rates and repayments may vary based on your credit profile, income, and bank approval.


    Based on this table, the HSBC Personal Loan stands out with the highest EIR at 5.50% p.a., one of the highest among major banks in Singapore—yet it maintains a competitive total interest payable. Plus, with a generous loan tenure of up to 7 years, HSBC provides one of the most flexible and sustainable repayment options in the market. Furthermore, thanks to its relatively low minimum annual income requirement between $30,000 (for select locals) to $40,000 (foreigners), the HSBC Personal Loan is both accessible and affordable for a wide range of borrowers.

    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.