HSBC Home Loan Interest Rate:

HSBC home loan rate can be variable or fixed.

 HSBC home loan interest rate is calculated on Base rate. Fixed HSBC home loan rate is available in the range of 11% to 14% p.a.

Processing charges on fixed HSBC home loan interest rate is 1% of the loan amount. Fixed HSBC home loan rate are given for a period of 12/24/36 months. 

Fixed HSBC home loan rate is not available for Smart Home and LAP. Floating HSBC home loan rate falls in the range of 9.50% to 13%.

HSBC home loan interest rate keep changing as per the RBI norms. HSBC home loan interest rate can be confirmed from any HSBC Branch.

HSBC Home Loan Eligibility:

HSBC Home Loan Eligibility Criteria For Salaried People:

As per the HSBC home loan review the person should have at least net income of Rs. 5 Lacs p.a. HSBC home loan applicant should have minimum age of 21 years. As per the HSBC home loan eligibility an applicant’s maximum age cannot exceed 58 years at the time of loan maturity.

HSBC Home Loan Eligibility Criteria For Self Employed:

HSBC home loan review shows the self employed person should have at least net income of Rs. 7.5 Lacs p.a. HSBC home loan self employed applicant should have minimum age of 21 years.  As per the HSBC home loan eligibility an applicant’s maximum age cannot exceed 65 years at the time of loan maturity.

HSBC Home Loan Documents:

HSBC home loan review shows that one has to submit

Identity proof

Residence proof

Age Proof

Fully filled application form

Two photographs

Home Loan Documents for salaried

Salary slip

Form 16

Bank Statements

Home Loan Documents for Self Employed

Bank Statements

IT returns

Profit and Loss Account, Balance Sheet Showing proof of business

Procedure And Options To Apply For The Loan:

The customer needs to submit duly filled form and attach related documents and submit it to the bank authorities for processing. The form is available at the branches or can be downloaded from the official website of the bank.

Maximum And Minimum Tenor Of The Loan:

According to the HSBC Bank Home Loan the loan is provided for a maximum period of 25 years in case of payment in equated monthly installments.

What would be the repayment options/facilities?

The customer can pay back his loan in equated monthly installments.

Pre Closure Process: In case a customer of  HSBC Bank home loan wishes to close his loan before the agreed period or term is termed as pre closure. In this case the bank charges  no penalty in case if the loan is being paid before the stipulated period.

Tax Benefits: One can get tax benefits on the principal and the interest paid according to the Income Tax Act 1961 which varies yearly according to the changes made by the Government.