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HSBC personal loans for december 2022 in the Philippines

HSBC
Get a personal loan at HSBC. On 03.12.2022 there are 1 options available to you. Increase your chances of getting a loan — fill out an application with a free credit rating check.

Offers: 1

Updated:
18.10.2022
06:01
Personal Loan
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
₱30,000 - ₱500,000
Rate
i

Effective interest rate on the product

from 0.65% per month
Term
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Loan term for the financial product

6 - 36 months
Submit your loan application online
Submit your loan application online

Take advantage of our loan selection system with a free credit check!

Calculate the loan payment in the Philippines

Your ideal cash loan with a free credit check in the Philippines is just a few clicks away.

Calculate the loan at HSBC
Loan amount
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PHP
PHP
30000 ₱
500000 ₱
Loan term
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months
days
6
36
Add-on rate per month
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Choose the interest rate on the loan

0.65 %
0.65 %
Type of payments
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Online loan application in the Philippines

Loan amount
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Enter the desired loan amount

1000 ₱
50000 ₱
Loan term
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Specify the loan term for the calculation

5
60 days

You are able to pick a loan for free. You can receive money in: 15m

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Loan amount
0 ₱
Loan term
0 month
Loan commission
i

Here is the average overpayment on a loan based on data from lenders in the Philippines.

202

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How to get a personal loan

Fill out your application
Fill out your application
On our website you can fill out a short application form for a loan.
Pass a credit check
Pass a credit check
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Send your application online to the suggested companies
Send your application online to the suggested companies
After checking your credit rate, you will be able to send your loan application to the appropriate companies.
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If necessary, the lender will contact you to clarify the details.
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DIGIDO
4
Margarita D
Margarita D
17.10.2022 at 12:26
The advantages of this app was good, they are very responsive and quickly answered you if you are able to get a loan or not.
Review
TALA
2.6
Allan P
Allan P
01.12.2022 at 09:55
With Tala I forget about banks and offices. Everything is in mobile, I could control my money and loan. Choose limit. I just needed driving license and phone number to register account...
Review
BillEase
4.2
Marvin T
Marvin T
27.11.2022 at 13:25
Billease is for you when you need to buy a new gudget but can't afford it, you may pay by parts. And I don't even need a credit card...
Review
TALA
3.2
Joan T
Joan T
24.11.2022 at 19:07
Tala is an option if you need cash quickly. I urgently borrow money I needed. Downloaded the app, apply and it take 5 min to get my cash. App is essy, interface is comfy.
Review
BillEase
4.2
Evelyn M
Evelyn M
22.11.2022 at 10:10
Fast approval and great app. It is easy even for me and I'm not good with technology. I apply, approved and get my Php 2000 in 30 minutes.
Review
HSBC personal loans for december 2022

HSBC's personal installment loan is a multi-functional lending product that can be used for any personal emergency. The minimum loanable amount is ₱30,000, and the maximum is ₱500,000. The minimum loan term is six months, and the maximum is three years. The loan may be used for any personal emergency, including:

  • Health and emergency. If you find yourself in an unexpected situation, a personal loan from HSBC Bank may be a viable option.

  • Home renovation. Homeowners can use an HSBC Bank personal loan to renovate their houses or execute necessary repairs such as fixing faulty plumbing or electrical wiring.

  • Debt consolidation. Debt consolidation is one of the most common reasons for receiving a personal loan from HSBC Bank. When you apply for a personal loan, you consolidate all of your outstanding loans and credit card balances and use them to pay them off one by one.

How to apply for an HSBC Bank personal loan?

You can apply for a personal loan by calling the loan desk on (02) 8858-0000 or visiting a bank branch to apply in person.

Requirements

Check out the requirements before applying for an HSBC personal loan.

Eligibility

To qualify for the loan, you must meet the minimum requirements. You must:

  • Be at least 21 years old but no older than 60 at the time of loan maturity.

  • Have a monthly gross income of:

    • ₱10,000 for EPP members or salary earners, for employees in Metro Cebu only.

    • ₱14,000 for salary earners or employees in all other areas.

    • ₱50,000 for self-employed applicants.

  • Have been with your current employment for at least two years (for employed applicants).

  • Be a permanent resident at your current residence for at least three years.

  • Make sure you have two options for contact information: a residential landline, an office landline, or a mobile number.

  • Reside in either Metro Manila, Metro Cebu, Bulacan, Cavite, Rizal, Pampanga, or Davao City.

Documentary requirements

The following essential general documents are required:

  • A pay stub or ITR is an example of an income document

  • Proof of residence, such as a bank statement or utility bills

  • Two or three acceptable IDs

You will also require the below:

For employed applicants

  • Photocopy of the most recent Income Tax Return (ITR) or BIR Form and the original payslip (one whole month)

  • Photocopy of a valid photograph-bearing ID with proof of nationality and date of birth, passport, driver's license, or any government-issued ID such as PRC ID, SSS card type ID, or BIR card type ID

  • Evidence of residential address (PORA)

  • Terms & Conditions with signed global consent clause

  • Foreign nationals will need any of the following supplementary documents:

    • Copy of a valid resident visa

    • Copy of a valid non-resident visa declared suitable for peso loans by the BSP

For self-employed applicants

  • ITR and audited financial statements for the last three years (the two must be for the same business)

  • SEC/DTI registration certificate

  • Business or Mayor's Permit

  • Photocopy of valid ID

  • Last three months' bank statement (of accounts at least one year active)

  • Photocopy of a valid photo ID (passport, driver's license, or PRC ID) with proof of nationality and date of birth

  • Proof of residential address (PORA)

  • Foreign nationals will need any of the following supplementary documents:

    • Copy of a valid resident visa

    • Copy of a valid non-resident visa declared suitable for peso loans by the BSP

Pros and cons

Below are some benefits and drawbacks of an HSBC personal loan:

Pros

  • The bank offers flexible payment terms, starting as early as six months and up to thirty-six months.

  • The loan interest rate is low compared to competitors.

  • The required minimum gross income is meager and affordable.

  • The loan doesn't require any guarantor or collateral.

Cons

  • The loan application is only made in the branch, no online application.

  • They will check your credit report before issuing a loan.

  • There are many requirements to be met before qualifying for a loan.

  • It may take up to seven days for the loan application to be approved.

How to repay HSBC Bank personal loans?

Payment can be done in-branch and through a partnered ATM. Follow the below steps to pay through an ATM:

  1. Insert your HSBC Bank ATM card into a partnered ATM and type in your ATM card pin.

  2. Tap on Payment and select the payment type of your choice.

  3. Select the payment amount you want and tap on Submit.

  4. Depending on the partner you used, your loan balance will be updated in an hour.

FAQ

How can I determine whether my HSBC personal loan application has been approved?

You can check the status of your loan application by calling HSBC's hotline via (02) 8858-0000 or visiting a bank branch.

What are the HSBC personal loan's interest rate, fees, and other charges?

The loan has a monthly interest rate of 1.25%. Concerning the other charges: the processing fee is ₱1,500.00 or ₱750.00 for loan terms of 24 and 36 months, and stamp duty is ₱1.00 for every ₱200.00 loan taken for loans above ₱250,000.00 or loans for business usage.

The late payment fee is 36% per year on overdue payments. The amendment fee is ₱500.00 per amendment following drawdown (for modification of loan details). Breaking costs will be calculated in accordance with the HSBC website and the HSBC Easy guide to bank services and charges (upon loan pre-termination).