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HSBC Personal Loan

The HSBC personal loan in UAE is one of the most sought-after financial products that works as a savior in the hour of needs. The HSBC personal loan can be availed for a minimum of 12 months and up to a maximum of 48 months. The UAE nationals can borrow a maximum of AED1,000,000, while expats are offered with a maximum loan amount of AED 750,000  with reducing interest rate starting from 7.49% for both

Marked its presence in the year 1946 in the UAE, the bank is famous as HSBC Bank Middle East. Having a global presence, the HSBC personal loans and credit cards enjoy an enormous international customer base of over 35 million and is dotted across more than 65 countries across the globe.

HSBC Personal Loan Interest Rates

The HSBC personal loan interest rates are reducing in nature, i.e. they get reduced every time the loan holder repays the loan instalment. The interest rate details can be found in the table below.

HSBC Personal Loan

Category

Max. Loan Amount

Tenor

Interest Rate

Type of Interest

For UAE Nationals

AED 1,000,000

12 months - 48 months

From 7.49%

Reducing

For Expatriates

AED 750,000

12 months - 48 months

From 7.49%

Reducing

*Interest Rates are subject to change any time.

How to Apply for HSBC Personal Loan?

When it comes to HSBC uae personal loan requirements and eligibility, the following criteria remain stringent :

Age

Both UAE nationals and expatriates alike are required to be within the age bracket of 21 years to 65 years in order to avail of a loan.

Income

HSBC personal loan eligibility mandates the applicants to have a minimum monthly salary of AED 7,500 to avail this loan. Minimum income criteria are set to ensure that the applicant has the ability to pay back the loan instalments.

Work Experience

Individual looking for an HSBC UAE personal loan will be asked to submit the details of their employer and may even be required to have a certain number of months of work experience with the organisation.

HSBC Personal Loan Document Requirements

The HSBC personal loan Dubai or other Emirates requires the applicants to submit the following documents:

  • Passport (for UAE nationals and expatriates both)
  • Emirates ID (for UAE nationals and expatriates both)
  • Utility Bills or Tenancy Contract (for UAE nationals and expatriates both)
  • Salary Slip (for UAE nationals and expatriates both)
  • Banking statement (for UAE nationals and expatriates both)
  • Residence Visa (for expatriates only)

HSBC Personal Loan Features & Benefits

The many HSBC UAE personal loan features and benefits can be found in the list below:

Loan Amounts

The expats can apply for is AED 750,000 and UAE nationals can apply for AED 1,000,000 loan amount. Moreover, HSBC bank personal loan does not require any credit life insurance policy and get the loan is 10 minutes while applying online.

Quick Approvals

HSBC personal loans can be availed of quickly and conveniently through the online applications form.  HSBC online personal loan applications are typically approved within minutes.

Tenors

HSBC offers flexible tenors for the repayment of the loan amount, starting from 12 months to a maximum tenor of 48 months.

Top-Up Loans

Loan holders may request for a top-up HSBC personal loan basis on the current loan. A top-up HSBC Bank personal loan bears longer tenors, larger loan amounts and competitive interest rates. However, consider referring to HSBC personal loan terms and conditions in this regard.

Renewals

Customers may also renew their HSBC personal loan UAE entirely after 12 months. Renewed HSBC personal loan customers are offered additional incentives for their continued patronage.

How to Calculate HSBC Personal Finance EMI?

Personal loan EMI can be calculated with the help of HSBC personal loan EMI calculator. This online tool helps the loan seeker to get a rough idea about the amount to be paid as an EMI against a loan amount. This helps in planning HSBC personal loan repayment in a smooth manner. Also known as HSBC personal loan eligibility calculator, this tool can be accessed free of cost on the official website of HSBC Bank. The applicant has to provide some minimum details such as loan amount, rate of interest, repayment tenor etc to get the EMI details.

FAQs

Q.1. What is a top-up loan?

Ans: A top-up HSBC personal loan is one that is offered as an add-on to the loan holders existing loan. A top-up HSBC personal loan in UAE offers an extra loan amount over the existing loan and offers an increased repayment period as well.

Q.2. How to get personal loan from HSBC?

Ans: Those who are looking for an HSBC personal loan may do so by either submitting the personal loan application form online or by contacting HSBC customer care at 800-56267. Also, the applicant can check HSBC Personal loan application status online.

Q.3. How do I calculate my HSBC personal loan EMI?

Ans: Existing loan holders and applicants can make use of the HSBC personal loan calculator to estimate their monthly instalment amount. HSBC personal loan EMI calculator in the UAE are available free of charge and can be accessed online.

Q.4. What is the repayment schedule for an HSBC personal finance?

Ans: Loan holders are required to pay an instalment every month, which includes the borrowed amount as well as applicable interest on the same. The total number of instalments is further contingent on the loan amount and on the bank’s approval.

Q.5. What is a payment holiday?

Ans: A payment holiday is a temporary postponement of the loan instalment. It can be availed of for AED 105 per instalment deferment and is also dependent on approval from HSBC.

Q.6. What is the HSBC personal loan processing time?

Ans: HSBC is famous for quick approval of personal finance. Availing a loan with HSBC is just a matter of 10 minutes for those who go online. The applicant has to fill an online application form and submit. Even HSBC personal loan approval time is quick as well.

Q.7. How to apply for HSBC personal loan online?

Ans: To apply for personal loan from HSBC one can-

  • Visit the official website of HSBC UAE
  • Go to the Personal Finance section
  • Check the HSBC personal loan details
  • Calculate the EMI using HSBC personal loan calculator UAE
  • Apply for the loan by filling an online application form
  • Get the loan instantly
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