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Personal Loans
We can tailor our Personal Loans to meet your needs. Typical 8.5% APR for loans between £7,000 and £15,000 for car purchase or home improvements.
The essentials
- Apply online with Internet Banking and we'll give you an instant credit decision, with no need to complete paper documents.
- If your application is agreed online we'll put the money in your account immediately, any time day or night (subject to planned maintenance).
- If you already have a Personal Loan with us and want to borrow more money you can also apply for this online.
- Spread your repayments equally over one to five years for Personal Loans up to £15,000, or one to eight years for Personal Loans of £15,000 and over, with our fixed repayment terms.
- HSBC Personal Loans are only available to existing HSBC current account customers who have a minimum of £700 mandated to their account on a monthly basis.
- You could have the option to defer your Personal Loan repayment for the first three months or take a repayment holiday every January for the life of the Personal Loan. Interest is charged over the full term of the loan, including the deferred period if this option is taken, and any month when a repayment is not made. This means that the amount of interest paid will be higher. The three month repayment holiday must be taken at the start of the loan and can't be offered where more than 70% of the loan is for refinancing existing borrowing.
Eligibility requirements
In order to apply for a Personal Loan you must have an HSBC current account with a minimum of £700 mandated to the account on a monthly basis.
What you should know before you apply
Please read the following terms and conditions and guides for further information before applying.
Existing customer
If you're registered for Internet Banking and have an HSBC current account you can apply online in minutes.
New to HSBC
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Summary Box |
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| APR | Typical 8.5% APR | |||
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If successful, the interest rate you will pay is based on your personal circumstances and the amount you choose to borrow. |
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Interest rate ranges |
Loan size range |
From % |
To % |
Representative APR |
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|---|---|---|---|---|---|
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£7,000 to £15,000 |
8.5% |
19.9% |
8.5% |
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Interest charging information |
Once agreed, the interest rate is fixed and guaranteed for the life of the loan. Interest is calculated once at the start of the loan. |
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Repayment information |
Monthly repayments by Direct Debit. The first repayment will be one month after the date the funds are transferred to you. There's an option to make no repayments for the first three months or the option to take a repayment holiday every January for the life of the loan. Interest is charged over the full term of the loan, including the period when no repayments are made. |
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Repayment period |
Loans are available over one year to five years up to £15,000 or over one year to eight years for £15,000 or over. |
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Amount of loan available |
Loans are available from £1,000 to £25,000 in £10 increments. |
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Application/arrangement fee |
None |
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Other fees |
None |
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Default fees |
None |
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Early settlement |
If 28 days notice is provided, an early settlement fee equal to one additional month's interest calculated on the balance outstanding will be payable. If 28 days notice is not provided, 28 days interest, plus an early settlement fee equal to one additional month's interest calculated on the balance outstanding will be payable. |
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Illustrative example |
Loan amount |
Representative APR |
Term |
Monthly repayments |
Total payable |
|---|---|---|---|---|---|
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£7,000 |
8.5% |
36 months |
£220.09 |
£7,919.46 |
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£10,000 |
8.5% |
60 months |
£203.69 |
£12,221.43 |
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£15,000 |
8.5% |
60 months |
£305.54 |
£18,332.04 |
Interest Rates
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Personal loan |
Rates are subject to status and our assessment of your financial circumstances. We consider a combination of factors to calculate the rate of interest which will apply to your personal loan, including your past account history, your past credit history and other personal details that we hold. Call 0800 032 4735 for a quote. Any quote obtained using our online calculator is for indicative purposes only and does not constitute an offer to provide credit. |
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Graduate Personal Loan |
Typical 8.5% APR |
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Our Personal and Graduate Personal loan rates may alter from time to time, but once a loan is taken, the rate is fixed for the duration of the loan. All other rates are variable.
Our credit facilities are subject to status.
