HSBC, considered as the largest bank in Europe, is now offering immediate personal loans of up to £25,000. Through this offering, HSBC provides interested applicants with the chance to borrow money and get immediate access to funds in as little as 3 days.
HSBC personal loan is designed to give borrowers the chance to spread their repayments over the period of one to five years. However, customers are advised that this rule only applies if loans are only £15,000 or less. Loans over £15,000 are eligible for repayment periods from one to eight years.
Users who will be applying for loans ranging from £7,000 to £15,000 are eligible for a 3.3% representative APR. However, this APR is still subject to change, with a maximum APR of 21.9%. APRs offered by the bank will depend on the applicant’s financial circumstances.
Customers who apply for an HSBC personal loan are also entitled to earn 10% interest cash back at the end of their loan term. This cashback offering is only available for loans that have 60 repayments or less. Bear in mind that only HSBC Advance customers are eligible to get their 10% interest cashback. Likewise, loans closed prior to the original contract date will not be eligible or entertained for cashback.
Applicants who are interested to get an HSBC personal loan can do so by applying online. Other options include applying through the mobile app or by going to a nearby branch. Eligible applicants must be over the age of 18 and must be a resident of the United Kingdom, including having a minimum annual income of £10,000. Likewise, only users who have a bank or building society account with a Direct Debit facility will be entertained.
Customers who have approved personal loans can take out money ranging from £1,000 to £25,000.
An HSBC personal loan will be given a representative APR ranging from 3.3% to 21.9% depending on their credit history.