HSBC Online Banking activation

We're currently making improvements to our Online Banking service.

If you registered for Online Banking prior to the 17th December 2014 it's not possible for you to activate your existing Secure Key and you will need to re-start your registration.

If you registered for Online Banking after this date, please log on to Online Banking entering your username, memorable answer and your password, from here you will be prompted to activate your Secure Key.

We apologise for any inconvenience which this delay may cause. Once you are registered, we look forward to introducing you to Online Banking, including the exciting enhancements we're working on now.

Find out more

If you want to make home improvements or buy a new car, personal loans can give you a helping hand. But before you apply for a loan, there are a few things you need to know.

Try the HSBC loan repayment calculator

#1 Is a loan the right option?

Personal loans aren't the only finance choice available. If the amount you need is relatively small and you're sure you can pay it back quickly, a credit card with an interest-free period on purchases could be a better option.

#2 How's your credit report looking?

Your past borrowing and financial history can affect whether you get a loan, as well as the amount of money and interest rate you're offered. Credit reports detailing your financial history are held by the three credit reference agencies - Callcredit, Equifax and Experian. It can be a good idea to check, if only to make sure there are no mistakes on your file. There's a £2 fee for a Statutory Credit Report, which offers a one-off snapshot of your credit report and history, or you may be able to see your report for free if you sign up to one of these agencies.

#3 What are the repayments?

The most important question to ask when you apply for a loan is: "Can I afford it?", so you need to know how repayments will affect your overall budget. Some loans have variable interest rates so the amount can increase if interest rates rise. It's important to make sure you can afford this before you get a loan.

The HSBC loan calculator uses a representative rate to give you an indication of what your monthly loan payments would be, depending on the amount being borrowed and the payment term.

#4 Is the loan secured or unsecured?

A secured loan is one where you provide an asset as security. The asset is at risk if you can't pay the loan back. With an unsecured loan, you don't provide security, but the amount you can borrow is smaller - up to £25,000. HSBC offers both secured loans - in the form of mortgages - and unsecured loans.

#5 What's the term of the loan?

This affects the amount of interest you'll pay, and consequently, the overall cost of the loan. Terms for most personal loans will range from one to eight years.

#6 What exactly are the fees and charges?

Loans are advertised with a 'representative APR'. Your financial history and personal circumstances, as well as how much you are borrowing, will determine the rate you receive, but you can use the representative rate as a way of comparing available offers. You should also be on the lookout for any additional charges associated with taking out the loan, for example some lenders may charge an arrangement fee. These, together with the interest rate, can make a big difference to the overall cost of the loan. HSBC loans don't include any additional charges - just the interest.

#7 Is there a charge for early repayments?

Some lenders may will charge you a fee for paying a lump sum or paying off your loan early. Make sure you check before you apply for a loan. HSBC allows you to make partial overpayments free of charge, which could reduce the amount of interest you pay overall. If you pay off your loan early in full there may be a charge of up to 58 days additional interest.

#8 Are you ready to apply for a loan?

Getting a quote for a loan won't usually appear on your credit report. But making an application often will. Too many applications can make a negative impression on lenders, so it's wise to be sure that a particular loan is right for you before you apply. HSBC offers a personal loan quote that won't affect your credit rating.

Did you know...?
You can change your mind about getting a loan. There's a 14-day cooling off period from the date you sign the agreement.

Get a loan quote

Back to top