HSBC personal loans
HSBC is a high street bank that can offer personal loans to people who need to borrow money. These loans are unsecured, which means you won’t need to put forward any property as security.
You can currently borrow £1,000 up to £25,000 with an HSBC loan, which can be repaid over a term of one to five years (or up to eight years for loans over £15,000).
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HSBC Premier loan
At the time of writing, HSBC premier customers may currently be eligible to borrow up to £50,000, which is double the amount that a standard customer can borrow. Premier loans can be repaid over one to eight years, depending on the size of the loan.
HSBC loan rates
The interest rate you can get on a HSBC loan will depend on a number of factors, including the amount you borrow, the repayment term, your credit history, and your overall financial situation.
Typically, those with a higher credit score will be able to access the most competitive rates of interest.
Interest rates will be fixed for the duration of the loan, which means your monthly repayments will stay the same.
You can see how much a loan may cost you by looking at the annual percentage rate (APR). This percentage includes the cost of interest and any fees over the course of a year, and it can help you compare loans on a like-for-like basis.
However, bear in mind that you won’t necessarily receive the representative APR advertised by HSBC. Only 51% of successful loan applicants are guaranteed to receive this rate or lower; other applicants could be charged more.
Can I get a secured loan from HSBC?
HSBC doesn’t currently offer secured loans.
If you’re interested in finding out more about secured loans and you want to compare your options, you can do so on our secured loan page.