हिंदी में पढ़े
The Hong Kong and Shanghai Banking Corporation (HSBC) is one of the world’s largest banks with a worldwide presence and a customer base of approximately around 89 million. HSBC India started its operations in India in the year 1959. In the realm of loans, HSBC offers many kinds of loans to the Indian customers like Home Loan, Car Loan, Smart Loan, Personal Loan and Loan against property. HSBC Personal loans are a convenient means to fulfill a variety of financial requirements pertaining to marriage, renovation or furnishing of home, medical treatments, purchasing consumer durables, transferring an existing loan and so on. HSBC India currently offers Personal Loans ranging from Rs. 75,000 to Rs. 30 lakh only to its resident customers.
Personal Loan Charges Table
| Type | Charges |
| Current interest rate charges | 9.50% p.a. onwards |
| Processing fee | Up to 1% of the disbursed loan amount. Processing fee paid/deducted is non- refundable. |
| Foreclosure charges | Up to 5% of the principal outstanding |
| Cheque Return charges | NIL |
| Cheque Swap charges | NIL |
* Only after completion of Lock-in period as per the terms detailed in the Personal Loan agreement.
Note: HSBC customers can opt for personal loans in the cities of Bengaluru, Ahmedabad, Chandigarh, Cochin, Coimbatore, Chennai, Hyderabad, Kolkata, Mumbai, Jaipur, New Delhi, Pune and Vizag (only employees of HSBC Vizag)
Personal Foreclosure Charges for HSBC
Any type of loan availed is repaid to the bank/financial institution in EMIs within a fixed time frame, which usually ranges from 1 to 5 years. In case a borrower wants to foreclose or preclose his personal loan, the remaining loan amount is settled in one single payment instead of paying it back in multiple EMIs over the agreed period of time.
HSBC personal loan can be prepaid after 6 months of disbursement of the loan. The loan can be prepaid following intimation in writing and in accordance with the prepayment amount confirmation given by the Bank. Under the 30 Day Service Pledge programme, a customer can close the loan within 30 calendar days of the loan disbursement date, subject to the terms and conditions of this programme. Any payment which is done in this manner attracts a prepayment charge of up to 5% of the prepaid amount.
Foreclosing the Loan with HSBC
The borrower can foreclose the HSBC personal loan by giving a notice in writing and paying in accordance with HSBC rules of prepayment/foreclosure, in any of the modes of payment acceptable to HSBC along with charges if any. If prepayment/foreclosure is done by cheque, the payment will take effect only when the cheque is cleared. The original documents of the borrower submitted to HSBC, are returned within 15 days of satisfactory loan closure, as per the conditions of the loan agreement signed by the borrower.
Conclusion
HSBC provides various types of loans and personal loan is quite popular among them. The borrower has the option of foreclosing his/her personal loan before the completion of loan period in adherence to the foreclosure guidelines and rules of the bank.