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Deferring HSBC Personal Loan repayments

From 1 August you’re no longer able to request a new or extended loan repayment deferral.

If you have any questions about a loan repayment deferral you’ve taken previously, please read our Frequently Asked Questions.

If you are currently experiencing financial difficulties and you’re worried about making your monthly repayments, please let us know as soon as possible. We can discuss the support we have available based on your individual circumstances. Please be aware that the support we offer may have an impact on your credit file.

For more information, please visit our Money Worries page.

Frequently Asked Questions

How did my loan repayment deferral work?

Your repayment deferral gave you a break from making your monthly loan repayments over the deferral period.

If you usually pay by Direct Debit, we won’t have collected your repayments over the deferral period. If you usually pay by Standing Order, we asked you to cancel this at the start of the deferral.

As your deferral has now ended, you’ll need to resume making your usual monthly repayments if you haven’t already. We’ll have written to remind you of when your repayments were due to restart.

If you pay by Direct Debit, we’ll continue collecting your repayments. If you pay by Standing Order, please make sure you’ll need to set up a new one. 

What are my options for making the deferred repayments?

You can continue making your usual loan repayments until you’ve repaid your loan. This means it will take you longer to repay the loan overall, but the total amount you repay won’t change, as there won’t be any charges or additional interest.

If you wish, You can arrange to pay any part of your outstanding balance sooner. This will reduce the extra time it takes to repay your loan. 

Did my repayment deferral affect my credit file?

Taking a repayment deferral didn’t impact your credit file, but providers may consider other information when making future lending decisions.

Why aren’t repayment deferrals available any longer?

This is in line with guidance provided by the Financial Conduct Authority. However, there’s still support available which will be tailored to your individual circumstances. Please visit our Money Worries page for more information. The options we have available are likely to impact your credit file. 

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