How much do you want to borrow?
£7,000 £15,000Over how many months?
12 months 60 monthsMonthly Repayment
Total Interest paid
Arrangement Fee
Total amount paid
6.2% - 21.9%
6.2%
£7,000 - £15,000
Minimum Term 1 year
Loans up to £15,000 - 5 years
Direct Debit from your HSBC current account
Approved before 5:00pm - 2 hours
Approved after 5:00pm - next working day
No Fee
They offer a 3 month payment deferral at the beginning of your loan
OR
You can choose a month in which you would like to take a holiday each year
Transferred into your HSBC current account
Yes
9th for APR of 423 loans in the UK (See Lender League Table By APR)
57th for Customer Satisfaction (See Customer Reviews)
If you hold a current account with HSBC, you can apply for a loan with them. They offer unsecured personal loans between £7,000 and £15,000. You can only apply if you have £700 paid into your account every month.
You can apply online, or you can apply via telephone. They will give you a provisional decision within a few minutes if you do the application online and they will also send you an email with this decision. If accepted, you will need to sign an electronic loan agreement and they'll transfer the money directly into your HSBC account. They can get the money in your account today, as long as you don't apply after 5:00pm. If you apply after 5:00pm, the money will go into your account the next working day.
HSBC are a big, well-known, high-street bank. They have a reputation for getting the money into your account quickly as it is transferred to you directly. Their repayments can be quite low, suited to your budget, depending on the size of the loan. The online application is simple, but can be quite lengthy if you're not used to filling out forms. If you enter your bank details, it will fill in your personal details so you don't have to do it again. They will however look at your credit history, so may not be a suitable option if your history is particularly poor (i.e. have made late payments, have CCJs or defaults).
Current Offers:
6.2% APR offer on loans from £7000 to £15,000 until May 31st 2012|
Default Fees |
Default Notice - £25.00 |
|
Early Settlement Fees |
If you don't give 28 days notice - 28 days interest, plus an early settlement fee equal to one additional month's interest calculated on the balance outstanding will be payable If you give 28 days notice - One additional month's interest calculated on the balance outstanding will be payable |
|
Late Payment Fees |
Missed Direct Debit Charge - £30.00 |
Average Customer Review:
(6 customer reviews)
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Money in two days
Andrew, Surrey
1 year ago
I have an account with HSBC and have been with them for over ten years now. Recently I needed to take a loan out for £2000, the money was suddenly needed urgently and I had two days to sort everything out and have the money ready in my account. It was quick and painless.
No one knows
Michael, Cramlington
8 months ago
Recently opted for a £7000 business loan. Account opened but i had to call up to see what was going on after a week. Promises from the call centre and the branch manager and no one seems to know what is going on. Still havent had the loan despite it being approved over 3 weeks ago. All documentation has been signed and im not sure what is happening....
Read full review >
Early Settlement Fees - DOn't make me laugh
Nick, York
1 year ago
Whilst I have been a customer of HSBC for may years I am suprised at a change in their Loan practices which will makes these loans very very expensive if you pay them back early. I took a £5000 loan over 121 months and was happy with the payments until I decided to pay the loan off early 7 months later. Expecting (as I had previously found) to pay less than my statement as I expected not to pay 5 months interest, I was amazed to find that I was charged the whole 12 months interest! The explanation..... they now pre-load the loan with the interest so the first couple of months only pays their interest then you start paying the capital, so if you pay early you WILL be charged the full 12 months interest even if the term ends up being less than 12 months!
Good, quick, easy. not fuss
Barbra streisand, Uk
1 year ago
Good, quick, easy. not fuss
FlexiLoan fail
Christopher,
1 year ago
I recently got a Flexiloan from HSBC for £7000 and boy do I regret it now. The idea was great, a payment of £40 a month, the ability to withdraw money back out again without needing to renew the loan and if you pay it back earlier, you pay less interest. The rate was 16.9%, but I only wanted a small loan so I decided to put up with it. Since then I wish I hadn't done it. The bank seems to like charging me hidden extras - the loan repayment scheme for instance. I was happy to pay it - but then found after 1 payment it went up!. The repayments themselves are OK, go out on time etc... but really it isn't worth a thing to me
HSBC Bank plc, Arlington Business Centre, Millshaw Park Lane, LS11 0PP
0800 032 4735
HSBC Loans Debt Help
http://www.debt-line.org.uk/HSBCBank
