Apply Online for HSBC Singapore Personal Loan with 1 hour in-principle approval

"It just take a minute to complete and submit your
HSBC Personal Loan online application."

Get extra cash up to 8X your monthly salary with HSBC's personal loans.
Be it preparing for your bundle of joy, furthering your education or improving your home, HSBC's personal loan help meet your needs with extra cash.
HSBC's personal loans give you extra cash when you need it. With flexible repayments solution, you can manage cash better.
Take the fisrt step towards new horizons. Unlock tomorrow's potential with HSBC's Personal Loans.
Whether your are turning passion into a business or nurturing your child's talent, HSBC's personal loans give you the opportunity to do something worthwhile presently by unlocking the pontential of futute.

Get the hsbc personal loans Singapore to enjoy the financial freedom today!

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Key benefits

  • Low interest rates
    Get interest rates as low as 3.7% p.a. (EIR 7% p.a.)1, 2.
  • Loan up to 8x your monthly income
    Fulfill your biggest dreams with a high maximum loan amount of 8 times your monthly income or up to S$200,0001.
  • Fixed monthly repayments
    Get greater convenience and predictability with fixed monthly repayments on your HSBC Personal Loan.
  • Loan tenor of up to 7 years
    Enjoy the freedom to choose a loan tenor from 1 to 7 years, so you can pick a repayment period that you are comfortable with.
  • Redraw on your existing loan
    Redraw S$1,000 or more from your current loan for more financial flexibility.
  • 1 minute approval in-principle1
    Receive approval in-principle almost immediately when you apply for HSBC Personal Loan online.

1 Terms and conditions apply.
2 EIR refers to Effective Interest Rate. The customers must also consent to receive direct marketing and promotional materials from HSBC by indicator on the letter of instruction or application form, where applicable.


HSBC Personal Loan Processing Fee Waiver Promotion

  1. To participate in HSBC Bank (Singapore) Limited's ("HSBC") Personal Loan Processing Fee Waiver Promotion (the "Processing Fee Waiver Promotion"), applicants must submit their application for a new personal loan ("Loan") between 1 January 2020 and 17 May 2020, both dates inclusive (the "Promotional Period") and the application must be approved by HSBC (in its discretion) by 30 April 2020 (such applicants, the "Eligible Applicants").
  2. Existing HSBC Personal Loan customers applying for a redraw are not eligible for this Processing Fee Waiver Promotion.
  3. The Eligible Applicants will receive a waiver of processing fee in respect of their HSBC Personal Loan, equivalent to 1% of approved loan amount, subject to a minimum of S$88.
  4. The terms and conditions of this Processing Fee Waiver Promotion should be read in conjunction with the prevailing HSBC Personal Line of Credit & Personal Term Credit Terms and Conditions, the latest copy of which is available online.
  5. HSBC may, at its discretion, revise these terms and conditions (including but not limited to varying the Promotional Period) or withdraw this Processing Fee Waiver Promotion at any time without prior notice.
  6. All information is accurate at the time of posting online.

HSBC's Personal Loan Frequently Asked Questions

What is HSBC Personal Loan?
It is a loan that allows you to enjoy loan amount of up to eight times (8X) your monthly income with fixed monthly repayments/installments.

How many years can I borrow for?
You may apply for a loan tenor for one, two, three, four or five years. If you are a salaried employee, you may apply for up to six or seven years.

What are the documents required for submission?
For salaried employees:

  • Photocopy of NRIC (front and back)
  • Latest 3 months' computerised payslips OR latest Notice of Assessment5 with latest 1 month's payslip OR latest 6 months' CPF statement6

For self-employed/commission-based earners:

  • Photocopy of NRIC (front and back)
  • Last 2 years' Notice of Assessment

For foreigners: Passport

  • Employment Pass (with validity of at least one year)
  • Latest 3 months' computerised payslips OR latest Notice of Assessment5 with latest 1 month's payslip OR latest 6 months' CPF statement6

5 You can now print your Notices of Assessment at myTax Portal with your SingPass or IRAS PIN. This service is free. Log on to https://mytax.iras.gov.sg for more details.
6 You may submit your CPF Statements via www.hsbc.com.sg.

Note: Proof of residential or mailing address is required should any of the addresses indicated on the application form differs from either one of the addresses in the documents provided.

Do I need to provide a guarantor or any collateral to apply for a Personal Loan?
No. You do not need a guarantor or any collateral to avail HSBC Personal Loan.

What is the minimum loan amount that I can apply for?
The minimum loan amount is S$5,000

What is the maximum loan amount that I can apply for?
For individuals with an annual income of at least S$30,000 but less than S$120,000, up to four times (4X) your monthly income subject to a maximum of S$200,000 or an amount HSBC may in its discretion determine.
For individuals with an annual income of at least S$120,000, the total loan amount for HSBC Personal Loan will be capped at up to eight times your monthly income as indicated in the income documents submitted, subject to a maximum of S$200,000, or a higher amount which HSBC may in its discretion determine.
This is subject always to your aggregate maximum credit limit with HSBC for all unsecured facilities, regardless of the number of HSBC Credit Card(s) and/or Unsecured Loans Facility(ies) you hold or apply for, being no more than 4X your monthly income.

How will I know if my Personal Loan had been approved?
If you are applying online, you will receive an email informing you of the preliminary result of your application. If you have been granted approval-in-principle, you will be requested to submit the required application documents, as will be indicated in the email sent to you.
Once your Personal Loan application is granted a final approval, HSBC will disburse the loan proceeds into an HSBC repayment account. Subsequently, HSBC will send you a Notification Letter via post to your address informing you of your loan details such as loan amount, interest rate, loan tenor, monthly installment amount and repayment account number.

How can I access the funds to my Personal Loan?
Upon loan approval, a repayment account will be opened along with your loan account to facilitate your monthly repayments. The loan proceeds will be disbursed into your repayment account. You may withdraw the funds over-the-counter at any HSBC branch in Singapore (first Casher's Order issuance is free) or via ATM using the debit card, which will be sent to you via post.

How will interest be charged on my loan account?
Interest will be charged using the reducing balance method, and at daily rest on 365 days per year basis. The applicable interest rate will be stated on the Notification Letter to be sent to you.

When is the repayment due date?
Your repayment due date will be stated on the Notification Letter that the Bank will post to you. In general, your first repayment due date will be one month from your loan approval date, and will fall on the same date on subsequent months, unless otherwise stated in the Notification Letter.

What is my monthly repayment amount?
Your monthly repayment amount will be stated on the Notification Letter sent to you.

What are the modes of repayment for HSBC Personal Loan?
The monthly repayment amount will be debited from your HSBC repayment account each due date. You may deposit funds into your repayment account via the following methods:

  • By Cheque - You may drop your cheque in the Cheque Deposit Box found in any HSBC branch (Please allow for two banking days cheque clearing period).
  • By Cash - You may make your cash deposit using the Cash Deposit Machines found at HSBC branches.
  • By Bank Transfer - You may transfer funds from your other bank accounts to your Repayment Account through Internet Banking, Phone Banking or over-the-counter.

Will I get a loan account statement detailing my payments and outstanding balance?
Yes. You will receive an annual loan account statement, which will reflect your payments, transactions, and outstanding balance. You will also receive a monthly composite statement, which will reflect the transactions and outstanding balance on your HSBC accounts (except Personal Line of Credit).

What will happen if I miss a loan repayment?
If the monthly installment is not received by the due date, late payment interest and late payment fee (as stated in the Notification Letter) will apply.

What should I do if I want to repay my loan (partially or in full) in advance?
If you wish to make an early repayment, whether partial or in full, you need to send your original written instruction to HSBC at least one month prior to the repayment date. Upon receipt, HSBC will send you details of the amount you need to pay into your repayment account, as well as the date that the repayment will be effected.

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