Fixed repayment terms

Spread your repayments equally over 1 to 5 years for HSBC Premier Personal Loans of £15,000 and less, or over 1 to 8 years for loans of over £15,000.

The first repayment is due 30 days from drawdown.

If you are eligible and choose the deferred start option the first repayment is due 3 months from the date of drawdown. 

Repayments will be taken monthly from your HSBC current account.

Responsible lending

As a responsible lender, we work with you to try to ensure that you do not borrow more than you can afford to repay. Personal Loans are available from £1,000 to £50,000 in £10 increments.

Interest

Interest is calculated on a daily basis. At the beginning of the loan we work out the interest you will pay over the whole period of your loan and add this to your loan balance.

Repayment holidays

You could have the option to take a repayment holiday for the first 3 months or every January for the life of the loan. You need to specify if you would like to take one of these options when you apply for the loan.

The 3 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.

Neither of these options are available when refinancing an existing Premier Personal Loan where you've made 5 or fewer repayments. Please note that interest is charged over the full term of the loan, including any deferred payments/repayment holidays taken.

This means that if you choose to take a repayment holiday, more interest will be payable overall.

Apply for additional borrowing

You can apply to borrow more money either via HSBC branches, telephone or Online Banking. If you've made five or less repayments on your existing Premier Personal Loan, you won't be eligible for the January holiday or three month deferred start option on your new loan should your application be successful.

Early repayments

You can repay your loan in full at any time by giving us notice in writing, by visiting a branch or by calling us on 03457 404 404. Once you've given us notice, we'll give you a settlement figure.

It's necessary to pay all the amounts owed if you wish to close the loan. Where you make an early repayment, there may be a reduction in the amount of interest you'll have to pay and this will be reflected in the settlement figure.

Please note, there is a penalty of one month's interest for repaying your loan early.

Overpayments

If you take out a loan, you'll be able to make overpayments or lump sum repayments to your loan. These payments may reduce the amount of interest you pay over the term of the loan.

Our credit facilities

You can get full details of our credit facilities, including a written quotation from any of our branches, by writing to:

Customer Information, HSBC Bank plc, PO Box 757, Hemel Hempstead, Herts HP2 4SS.

Or call us on 0800 032 4735 (textphone 18001 0800 028 0126).

Lines are open from 8am to 10pm every day (except for Christmas Day, Boxing Day and New Year's Day).