HSBC Home Loan Key Features
| Feature | Value |
| Interest Rate | 6.90% onwards |
| EMI / Lakh | Rs. 662 |
| Loan Tenure | Up to 30 years |
| Loan Amount | Percentage based on property value |
| Loan to Value Ratio | Up to 90% of property value |
| Loan Available on the Following Types of Property |
|
| Special Offer for Women | Interest rate concession of 0.05% |
| Processing Fee | Up to 0.5% of loan amount excluding GST |
| Prepayment Charges | No prepayment charges for floating rates |
| Part Payment Charges | Nil |
| Guarantor Required | Nil |
Please Note: The above figures are only indicative and are subject to change without any prior notice.
HSBC Bank Home Loan Interest Rates & Offers 2021
| HSBC Home Loan Schemes | Interest Rate For Women | Interest Rate for Others |
| HSBC Home Loan | 6.90% – 7.95% | 7.00% – 8.00% |
| HSBC Reach Loan | 8.75% – 14.00% | 8.75% – 14.00% |
| Plot Loan | 7.05% – 8.05% | 7.10% – 8.10% |
| Rural Housing Loan | 6.90% – 8.70% | 7.00% – 8.70% |
| Home Improvement Loan | 6.90% – 7.95% | 7.00% – 8.00% |
| Home Extension Loan | 6.90% – 7.95% | 7.00% – 8.00% |
| Home Loan Top Up | As per home loan slabs | As per home loan slabs |
| Home Loan Balance Transfer | 6.90% onwards | 6.90% onwards |
Please Note: The above rates and values are floating in nature and are based on adjustable rates. These are subject to change at the time of loan disbursement.
Know more about Home Loan Interest Rates.
HSBC Home Loan Eligibility Criteria
Salaried Individual:
- The applicant’s nationality should be Indian.
- The applicant must be between the age group of (Minimum) 18 years to (Maximum) 65 years.
- Must have working experience and a legitimate source of salary i.e working under the same employer for at least one year.
Self Employed Individual:
Applicants who are not professionally engaged in the working sector but have their own source of steady income are also eligible for the HSBC Home Loan. This includes everybody who is a:
- Traders
- Commission agent
- Contractors
The following criteria must be met to apply for a home loan:
- The applicant’s nationality should be Indian.
- The applicant must be between the age group of (Minimum) 18 years to (Maximum) 65 years.
Self Employed Professionals:
Applicants who are professionally engaged in the working sector are also eligible for the HSBC Home Loan. This includes everybody who is a:
- Doctors
- Lawyers
- Charted Accountant
- Architect
- Consultant
- Engineer
- Company Secretary
The following criteria must be met to apply for a home loan:
- The applicant’s nationality should be Indian.
- The applicant must be between the age group of (Minimum) 18 years to (Maximum) 65 years.
Additional Criteria for Co-applicants:
- Co-applicant must be a family member of the primary applicant.
- All co-applicants are not required to be the co-owners of the property.
Please find more information on Eligibility by visiting Dialabank.
Know more about Home Loan eligibility criteria.
Common Documents for Salaried and Self-Employed
Salaried Individual:
Valid ID and Residence Proof: A copy of Proof of Identity and Residence such as Aadhaar, PAN, Driving License, Passport, Voter ID, etc.
Income Proof:
- Bank Statements showing salary credits from the last 6 months.
- Latest Salary Slips from the last 3 months.
- Latest Form-16 and IT returns
- Employment Contract/Appointment Letter if the current employment is less than a year old.
Property Related Documents:
- A cheque for processing fee favoring ‘HSBC.’
- Copy of the Buyer Agreement/Allotment Letter
- Receipt/(s) of payment/(s) made to the developer
Self Employed Individual:
Valid ID and Residence Proof: A copy of Proof of Identity and Residence such as Aadhaar, PAN, Driving License, Passport, Voter ID, etc.
Income Proof:
- Bank Statements showing salary credits from the last 6 months.
- Business Profile and Previous 3 years Income Tax returns (Both self and business)
- Previous 3 years Profit/Loss Account and Balance Sheet.
Proof Of Business:
- Educational Qualifications Certificates
- Business achievements (Certificate or awards if any)
Property Related Documents:
- A cheque for processing fee favouring ‘HSBC.’
- Copy of the Buyer Agreement or Allotment Letter
- Receipt/(s) of payment/(s) made to the developer
Agriculturists:
KYC Proof – PAN Card (Mandatory) and any Driving License/Voter ID/Passport
Income Proof:
- Bank Statements showing salary credits from the last 6 months.
- Copies of title documents of agricultural Land showing crops being cultivated
Property Related Documents:
- A cheque for processing fee favouring ‘HSBC.’
- Copy of the Allotment Letter / Buyer Agreement
- Receipt/(s) of payment/(s) made to the developer
Additional requirements for Co-applicants:
Passport size photograph of all co-applicants to be affixed on the Application Form and signed across
Know more about the Home Loan documents required.
HSBC Bank Home Loan Procedure
Receipt of a home loan from the HSBC Bank is reasonably easy with an online application process. In five fundamental stages, a home loan can be accessed from the HSBC Bank:
- Fill out your loan amount application form, property data, personal details, employment and contact number of an approved online channel associate at the HSBC Bank website, branch or website.
- A representative of HSBC Bank or an online partner will contact you to discuss the eligibility of a loan, the rates of the loan, the conditions, the valuation and other costs.
- You may use your income and property records online, otherwise, an HSBC bank agent may come to your home or office to collect them. If you agree to continue your loan application,
- In order to carry out the credit evaluation and the technical analysis of the building, HSBC Bank will seek transaction fees that take a few days.
- If you have the right and your property is eligible for a loan, you will be sent a sanction letter from HSBC and asked to sign a credit contract with the bank. You then pay the loan to your account.
Different Home Loan Schemes By HSBC
HSBC Home Loan – For Resident Indians
This type of loan is specifically for those individuals who are Indian residents and require funds to purchase a house or a plot for further construction.
| Specific Information for Home Loan Scheme | |
| Eligible Profiles | Available to Salaried and Sef-employed Individuals |
| Loan Amount | Up to 90% of the value of Property |
| Interest Rate | 6.90% onwards |
| Processing Fee | Up to 0.50% of the loan amount or Rs. 3,000 (whichever is higher) + GST |
| Loan Tenure | 30 years |
HSBC Home Loan for NRI/PIO – For NRIs and PIOs
This type of loan is available to those who are NRIs, PIO, and OCI. The loan helps the individual who is willing to:
- Purchase a flat, row house, bungalow in India from private developers in approved projects.
- Properties can be purchased from Development Authorities such as DDA, MHADA, etc.
- Construct on a plot allotted by a Development Authority in India or a freehold/leasehold plot.
- Properties can be purchased in an existing Co-operative Housing Society, Apartment Owners Association, Development Authorities settlements, or privately built-up homes.
HSBC Plot Loans – For Buying a New Plot
This type of loan is specifically established for those individuals who are looking to purchase a new plot. This loan supports buying a new direct allotment plot or a plot from the resale.
| Specific Information for Plot Loan Scheme | |
| Eligible Profiles | Available to Salaried and Sef-employed Individuals |
| Loan Amount | Up to 80% of the value of Property |
| Interest Rate | 7.10% onwards (0.05% concession to women) |
| Processing Fee | Up to 0.50% of the loan amount or Rs. 3,000 (whichever is higher) + GST |
| Loan Tenure | 15 years |
HSBC Top Up Loans – For HSBC Home Loan Borrowers
This scheme helps the borrowers to get additional funding over their already opted home loan. The funds from this scheme can be used for various personal and business purposes.
| Specific Information for Top-Up Loan Scheme | |
| Eligible Profiles | Available to Salaried and Sef-employed Individuals |
| Loan Amount | Up to 90% of the value of Property |
| Interest Rate | New Customer – 8.30% onwards
Existing Customer – As per Home Loan Slabs |
| Processing Fee | Up to 0.50% of the loan amount or Rs. 3,000 (whichever is higher) + GST |
| Loan Tenure | 15 years |
HSBC Home Extension Loans – For Adding Space in Your Home
This type of loan is specifically for those individuals who want to extend or add space to their home property.
| Specific Information for Home Extension Loan Scheme | |
| Eligible Profiles | Available to Salaried and Sef-employed Individuals |
| Loan Amount | Up to 90% of the value of Property |
| Interest Rate | 6.90% onwards |
| Processing Fee | Up to 0.50% of the loan amount or Rs. 3,000 (whichever is higher) + GST |
| Loan Tenure | 20 years |
HSBC Home Loan Balance Transfer – For All Home Loan Borrowers
HSBC Home Loan Balance Transfer is available to those customers who are willing to lower their repayments.
| Specific Information for Home Loan Balance Transfer Scheme | |
| Eligible Profiles | Available to Salaried and Sef-employed Individuals |
| Loan Amount | Up to Rs. 50 Lakhs |
| Interest Rate | 6.90% onwards |
| Processing Fee | Up to 0.50% of the loan amount or Rs. 3,000 (whichever is higher) + GST |
| Loan Tenure | 30 years |
HSBC Home Loans under Pradhan Mantri Awas Yojana
This type of loan is specially established for EWS/LIG, families under MIG-I, and MIG -II categories. The validity of this scheme is up to 31 march 2022 (EWS/LIG), 31 march 2021 (Families under MIG-I and MIG -II categories).
| Specific Information for Home Loan Pradhan Mantri Awas Yojana Scheme | |
| Eligible Profiles | Available to EWS/LIG, MIG-I, and MIG -II |
| Loan Amount | No Cap |
| Interest Subsidy | 3.00% onwards |
| Maximum Subsidy | Up to Rs. 2.67 Lakhs |
| Loan Tenure | 20 years |
HSBC Reach Loans – For Indians With Income Of At least Rs. 10,000 Per Month
This type of loan is specifically for those individuals who are Indian residents with an income of Rs. 2 Lakhs per annum. This loan can cover the costs of purchasing a new or already built house, a new plot for further construction, renovations, and extension or construction on both residential and non-residential properties.
| Specific Information for Reach Loan Scheme | |
| Eligible Profiles | Available to Salaried and Sef-employed Individuals |
| Loan Amount | Up to 80% of the value of Property |
| Interest Rate | 8.75% onwards |
| Processing Fee | Up to 2% of the loan amount + GST |
| Loan Tenure | 30 years |
HSBC Rural Housing Loans – For Indians Living in Rural Areas
This type of loan is specifically for those individuals who are agriculturists, planters, horticulturists, dairy farmers, and others who are living in remote areas and are willing to buy an under-construction property or a new residential property or an existing residential property in rural and urban areas.
This loan is also eligible for individuals who are salaried or self-employed!
| Specific Information for Rural Housing Loan Scheme | |
| Eligible Profiles | Available to Salaried, Sef-employed Individuals and Agriculturists |
| Loan Amount | Up to 90% of the value of Property |
| Interest Rate | 7.00% onwards (0.05% concession to women) |
| Processing Fee | Salaried/Self-employed – Up to 0.50% of the loan amount or Rs. 3,000 (whichever is higher) + GST
Agriculturists/ Self-Employed Non-Professionals – Up to 1.50% of the loan amount or Rs. 4,500 (whichever is higher) + GST |
| Loan Tenure | 30 years |
HSBC Home Improvement Loans – For Covering Home Renovation Costs
This type of loan is specifically for those individuals who want to renovate their homes but are not able to do so due to a lack of funds.
| Specific Information for Home Improvement Loan Scheme | |
| Eligible Profiles | Available to Salaried and Sef-employed Individuals |
| Loan Amount | New Customer – Up to 90% of the estimates from improvements.
Existing Customer – Up to 100% of the estimates from improvements. |
| Interest Rate | 6.90% onwards |
| Processing Fee | Up to 0.50% of the loan amount or Rs. 3,000 (whichever is higher) + GST |
| Loan Tenure | 15 years |
HSBC Bank Pradhan Mantri Awas Yojana Subsidy 2021
The Government of India’s Pradhan Mantri Awas Yojana is a home loan subsidy programme designed to encourage everybody to own a home. The scheme provides financial assistance to lower-income classes in society who receive less than 18 lakh rupees per annum by providing them with home loans with subsidised interest rates.
EWS (economically weaker section), LIG (lower-income group), MIG-1 (middle-income group-1) and MIG-2 (middle-income group-2) are the four income groups. On HSBC Bank home loans, a gross subsidy of approximately 2.67 lakh can be obtained via PMAY. The HSBC Bank PMAY Home loan has a 15-year maturity period.
Applicants for a home loan from the HSBC Bank that is qualifying for the PMAY subsidy will do so. PMAY, or the Home Loan Subsidy Scheme, was founded in 2015 to help the homeless find housing. If you meet the eligibility requirements, you can apply for PMAY at HSBC Bank. The following are the PMAY plans supported by HSBC Bank:
- The Pradhan Mantri Gramin Awas Yojana helps homeless families by providing pucca houses with basic facilities.
- The DDA Housing Scheme seeks to provide housing to low-income, middle-income, and high-income families.
- The Tamil Nadu Housing Board Scheme began in 1961 with the aim of providing housing to people of all income levels.
- Mhada Lottery Scheme: Every year, the Mhada Lottery Scheme is launched for buyers of various income categories.
- The Rajiv Awas Yojana was founded in 2009 with the goal of getting the illicit building into the formal framework and encouraging India to become slum-free.
Both of these programmes have their own set of eligibility requirements, as well as limits to the amount of money that can be lent and the interest rate that can be charged.
Advantages of HSBC Home Loan
HSBC Home Loan is a saviour to those who are in need of financial support relating to homes and plots. It offers the following:
- A huge variety of home loan schemes.
- Provide a 0.05% concession to women to encourage them for their own homeownership.
- Provide several repayment methods to choose from and opt for the one best suited to you.
- Full transparency as HSBC promises no hidden costs and fees.
- It is a part of the Pradhan Mantri Awas Yojana.
- Easy application with minimum documentation and paperwork.
- Provides loan approval prior to the selection of the property.
HSBC Home Loan Charges and Fees
| Particulars | Charges |
| Processing Fees | Salaried Individuals: 0.50% of the loan amount or Rs. 3,000, whichever is higher Self Employed Professionals: 0.50% of the loan amount or Rs. 3,000, whichever is higher Self Employed Non-Professionals: Up to 1.50% of the loan amount or Rs. 4,500, whichever is higher |
| Prepayment charges | No prepayment charges for floating rates |
| Check dishonor charges | Up to Rs. 200 |
| List of documents | Up to Rs. 500 |
| Photocopy Of documents | Up to Rs. 500 |
| PDC Swap | Up to Rs. 200 |
| Disbursement cheque cancellation charges post disbursement | Up to Rs. 200 |
| Increase/Decrease in the loan term | Up to Rs. 500 |
| Re-appraisal of loan post 6 months from sanction | Up to Rs. 2,000 |
Compare HSBC Bank Home Loan with Other Banks
| Particulars | HSBC Bank | SBI | HDFC |
| Interest Rate | 6.74% – 6.74% | 6.70% – 7.05% | 6.75% – 8.20% |
| Processing Fees | Up to 1.00%
Max ₹ 10,000 |
Min ₹ 10,000 | Min ₹ 3,000 |
| Loan Tenure | 25 Years | 30 Years | 30 Years |
| Maximum Loan Amount | ₹ 10 Cr | ₹ 7 Cr | ₹ 5 Cr |
| Age | 21 – 65 Years | 18 – 70 Years | 24 – 65 Years |
| Benchmark Rate | RLLR | RLLR | PLR |
| Lowest EMI Per Lakh | ₹ 690 per lakh | ₹ 645 per lakh | ₹ 649 per lakh |
How to apply for HSBC Home Loan
- Visit Dialabank for a Home Loan.
- Go to the HSBC Home Loan page.
- Check out all the eligibility and documents criteria for a Home Loan.
- Fill out all the details required in the Home Loan application form.
- Once done, our representative will soon contact you for a further stress-free process.
HSBC Bank Home Loan Customer Care
HSBC Bank is famous for its customer relations management; as a result, they provide special home loan customer care service and a special contact number to ensure convenience for the customer:
Customers do not need to look up all these customer care numbers every time, and they can just get one contact number for all their financial needs with India’s First Financial Helpline and just contact us for assistance in any matter.
Dialabank: 9878981166
HSBC Home Loan EMI Calculator
Know more about Home Loan EMI Calculator.
Other Loan Products from HSBC
| HSBC Personal Loan | HSBC Car Loan |
HSBC Home Loan FAQ
✅ How to repay my HSBC home loan?
There are different payment methods through which you can repay your HSBC home loan, this can be done:
- By issuing Standing Instructions to pay the loan instalments through Electronic Clearing System.
- By opting for direct deduction of monthly instalments by your employer.
- By issuing post-dated cheques from your salary account.
✅ When can you apply for HSBC’s top-up loan?
A year after the disbursement of the existing loan amount and the possession or completion of the financed property.
✅ What is the maximum loan amount from the home loan can I get on my salary?
A customer can get the loan amount on his/her salary, depends on their repayment capacity. To determine the repayment capacity the following variables are considered: age, the number of dependants, credit history, education qualification, current liabilities, etc.
✅ What is a Floating Interest Rate?
Floating interest rates are different from the fixed rates, the rates are not the same throughout the loan tenure. It may vary with the change in the lender’s benchmark rate.
✅ How Dialabank can help you get a Home Loan?
Dialabank works as a bridge to find the best option between several Banks and NBFCs by providing you with a detailed and structured market comparison of different banks. This eliminates the unnecessary worries about the complex information and process you have to go through.
If you want to apply for HSBC Home Loan get in touch with Dialabank by phone by dialling on 9878981166 or by visiting Dialabank.
News for HSBC Bank Home Loan
2021-01-15:
HSBC Bank’s home loan rates were updated on January 15, 2021. The home loan rates at HSBC Bank have been updated. The lowest home loan rate is 6.80% for borrowers with a CIBIL score of 750 or above.
2019-07-03:
HSBC cuts MCLR prices by five basis points on July 3rd, 2019. The Marginal Cost of Funds Based Lending Rate (MCLR) of HSBC has been reduced by five basis points. The switch is intended to lower the cost of customer loans such as home loans and mortgage loans.
The rates for six-month and one-year terms have been revised to 8.70 per cent and 8.75 per cent, respectively, from the previous rates of 8.75 per cent and 8.80 per cent, while the rates for all loan terms have remained unchanged.
2019-04-03:
HSBC Bank lowers MCLR prices by ten basis points on April 3rd, 2019. For the month of April, HSBC Bank increased its Marginal Cost of Funds Based Lending Rate (MCLR) by ten basis points across all tenors.
The change is intended to lower the cost of home loans, car loans, and mortgage loans. The MCLR is now at 8.75 per cent for six months, down from 8.85 per cent previously, while the figure for three months has been changed to 8.50 per cent from 8.60 per cent. The new rates went into effect on April 1, 2019.
2018-07-01:
MCLR was revised by HSBC Bank on July 1, 2018. The MCLR of HSBC Bank has been updated for the month of July. The latest prices are expected to be between 8.05 per cent and 8.60 per cent. The six-month MCLR is 8.50 per cent, while the one-year MCLR is 8.60 per cent. The new prices will go into effect on July 1, 2018.
2018-05-07:
HSBC raises the MCLR by up to 20 basis points on May 7, 2018. The MCLR of HSBC has been boosted by up to 20 basis points. The six-month MCLR is currently 8.60 per cent, while the one-year MCLR is now 8.60 per cent. From May 1, 2018, the new rates will be in place.
