Major purchases
Funding significant expenses such as a new car or appliance
What is HSBC?
HSBC stands for The Hongkong and Shanghai Banking Corporation, which is a British multinational banking and financial services company.
HSBC offers many financial products including unsecured personal loans in the UK, providing flexible borrowing solutions for various financial needs. It's one of the world's largest banking and financial services organisations, serving approximately 40 million customers globally.
In the UK HSBC provides a comprehensive range of financial products and services, including personal loans to help customers manage their finances effectively.
What types of loans does HSBC offer?
HSBC provides unsecured personal loans that can be used for various purposes, including:
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Debt consolidation
Combining multiple debts into a single, manageable monthly payment
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Home improvements
Financing renovations or upgrades to your property
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Unexpected expenses
Covering unforeseen costs like medical bills or emergency repairs
How much can you borrow with HSBC?
With a standard HSBC Personal Loan you can borrow between £1,000 and £30,000.
For HSBC Premier customers (or where eligible), loans up to £50,000 may be available.
Terms typically run from 1 to 8 years, though for smaller amounts it may be on shorter terms.
Your exact borrowing amount, rate and term will depend on your personal circumstances, including your credit profile, income, outgoings and whether you are already an HSBC current account customer.
Key features of an HSBC loan
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Fixed interest rates
Consistent monthly payments throughout the loan term
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No charges for overpayment
You can pay more than your monthly instalments to help reduce interest charges
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Quick access to funds
Existing HSBC current account customers could receive the money instantly once your application has been approved: Non-HSBC current account customers could receive the money within three working days
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Eligibility checker
Assess your likelihood of approval without impacting your credit score
Eligibility criteria for HSBC personal loans
To get a loan from HSBC you’ll need to satisfy a set of eligibility requirements.
Age & residency:
You must be at least 18 years old and resident in the UK.
Income & bank account:
You’ll need a regular income and a UK bank or building‐society account with Direct Debit capability. HSBC mentions an example income minimum of approximately £10,000 for some loans.
Credit & affordability checks:
Your application will be subject to a credit check and will be assessed for affordability (your income, outgoings and current commitments). HSBC emphasises the importance of checking your credit report, making sure you can afford repayments and meeting any eligibility criteria.
Existing customer / loyalty benefits:
If you’re already an HSBC customer (especially a Premier customer), you may access higher loan amounts or preferential terms.
Frequently asked questions
What is an HSBC Premier customer?
An HSBC Premier customer is someone who meets specific financial criteria, such as maintaining a minimum income of £100,000 or holding £100,000 in HSBC savings or investments.
Premier customers receive exclusive benefits, including preferential loan rates, a dedicated relationship manager, and global banking services.
There is no monthly fee for HSBC Premier, but eligibility criteria must be met to retain Premier status.
What interest rates does HSBC charge?
HSBC offers competitive interest rates on personal loans, but the rate offered may vary based on your loan amount, term, and personal financial circumstances.
Can I take out more than one loan with HSBC at the same time?
Yes, if you already have an HSBC loan, you can either take out an additional loan or top up your existing loan.
Can I apply for an HSBC loan if I am self-employed?
Yes, you can apply for an HSBC loan if you're self-employed. However, you'll need to provide proof of income, such as bank statements or tax returns, to demonstrate your ability to repay the loan.
Do I need a guarantor for a loan with HSBC?
No, HSBC does not require a guarantor for personal loans. They offer unsecured loans, meaning you do not need to provide collateral or a guarantor to be considered for a loan.
Are there any fees with an HSBC loan?
HSBC does not charge arrangement or setup fees for personal loans, but it may charge a late payment fee if repayments are missed or delayed.
If you want to pay off your loan early you can request a settlement figure. This includes interest up to the date that’s 28 days from when you tell HSBC you want to repay the loan, plus an additional month
While specific fee amounts for the UK aren't detailed in the provided sources, it's common for lenders to apply interest on overdue amounts and additional administrative fees.
Will a missed payment damage my credit rating?
If you miss a loan payment with HSBC, you may incur late fees and additional interest. Typically, missed payments are reported to credit agencies after 30 days, impacting your credit score.
Contact HSBC immediately if you’re struggling to avoid penalties and credit damage.
Is HSBC regulated and trustworthy?
Yes, HSBC is authorised and regulated by the Financial Conduct Authority (FCA), ensuring compliance with UK financial regulations.
What is the cooling-off period for an HSBC loan?
HSBC provides a 14-day cooling-off period during which you can cancel your loan agreement without penalty. If you decide to cancel, you'll need to repay the loan amount and any interest accrued up to the cancellation date.
Do existing HSBC customers get preferential loan rates?
Yes, existing HSBC Premier customers may benefit from preferential rates on personal loans. HSBC Premier personal loans typically offer lower interest rates compared to standard personal loans.
However, eligibility criteria apply, and rates are subject to your credit profile and borrowing amount.
Can I get a HSBC loan if I’m self-employed or my income varies?
Yes, self-employed individuals or those with variable income can apply for an HSBC loan.
You’ll likely need to provide additional proof of income, such as tax returns or bank statements, to demonstrate affordability.
Approval depends on your credit history, income stability, and overall financial situation.
How to apply for a loan with HSBC
These are the steps you should take to apply for an HSBC loan:
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Check your eligibility
Use the online eligibility checker to see if you qualify. It won’t affect your credit score
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Choose loan amount and term
Select how much you wish to borrow and your preferred repayment period
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Complete the application
Provide personal, financial, and employment details through the online form
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Credit and affordability check
HSBC will assess your application based on creditworthiness and affordability
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Receive a decision
If approved, you'll receive a loan offer to review and accept
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Receive funds
After acceptance, funds are typically transferred to your account promptly
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Frequently asked questions
Will checking my loan eligibility affect my credit score?
Using the MoneySupermarket comparison tool is a “soft search”, and won’t leave a mark on your credit file.
What happens if I can’t afford my loan repayments?
Our guide What to do if you can’t afford your loan repayments explains how your lender should work with you, you should contact them as early as possible. Remember that there are free debt-advice services available including Stepchange and Citizens Advice.
What is an unsecured personal loan and how is it different from other loan types?
Our article What is an unsecured loan? details that unsecured loans don’t require putting up assets as collateral and tend to have higher interest rates, so you should be clear on the terms.
Why compare loans with MoneySuperMarket?
It’s simple to compare loans with us, and we’ll show you your chance of being approved for each loan deal.
Reviewed on 11 Dec 2025
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