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Deferring HSBC Personal Loan repayments

You’re no longer able to request a new repayment deferral after 31 March.

If you currently have a deferral in place, we'll be in touch about your options. If you're able to, you should begin making your monthly repayments again.

If you continue to experience financial difficulties after your deferral ends, or you haven’t taken one and are worried about making your 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 does it work if you've deferred your monthly loan repayments?

It depends on how you make your repayments. If you make them by:

Direct Debit: over the deferral period, we won’t collect your repayments when they’re due. This is automatic, so you don’t need to cancel your Direct Debit instruction.

Standing order, or bill payment: you’ll need to have cancelled this yourself at the start of the deferral.

This doesn’t change the terms of your agreement with us, so we’ll still send notices about the delayed repayments when we’re legally required to. You won’t need to do anything in response to these notices, as long as you don’t miss any repayments outside of this deferral.

No additional interest will accrue while you are on a repayment deferral.

What happens at the end of the repayment deferral?

We’ll get in contact before your repayment deferral ends to let you know your options. If you can, you’ll need to resume making your usual monthly repayments. You’ll be able to choose to:

  • continue making them 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.
  • make the repayments you’ve deferred earlier, so your loan is still repaid over the remaining term of your agreement

If you’ll be unable to make your repayments, there are a number of other options available, which will depend on your personal circumstances.

Does this affect your credit rating?

We'll record this to make sure it doesn't impact your credit file.

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

Why are new repayment deferrals only available until 31 March?

This is in response to the guidance provided by the Financial Conduct Authority. New repayment deferrals aren’t available after 31 March. However, if you currently have a deferral in place, you may be able to request an extension before your repayments are due to resume – we’ll contact you about your options.

After this date, there’s still support available which will be tailored to your individual circumstances, but these solutions may impact your credit file.

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