HSBC Bank Loan Against Property

About HSBC Bank Loan Against Property

Being a British- based multinational banking and financial services company headquartered in London, HSBC needs no introduction. It is the world’s fourth-largest bank by assets and is worldwide known for offering reliable services to all its customers. With the plethora of banking and financial investment services, HSBC Bank ensures to satisfy all its customers and the loan against property is one of those products.

HSBC Bank facilitates the loan against commercial and residential property with the attractive combination of low-interest rates and flexible repayment options. To know more about the HSBC Bank Loan Against Property, go through this article.

HSBC Bank Loan Against Property Details

ParticularsDetails
Interest Rates9.85% - 10.15% p.a. (floating)
Loan AmountUp to 10 Crores
TenureUp to 15 Years
Processing Fees1% of the Loan Amount
Prepayment Charges0-4%

Eligibility Criteria for HSBC Bank Loan Against Property

ParticularsDetails
Minimum Net Income₹5,00,000 p.a. (Salaried), ₹7,50,000 p.a. (Self-employed)
Minimum Age (in years)21
Maximum Age (in years)58 (salaried), 60(public limited/government employees) and 65 (self employed)
Minimum Loan Amount₹3,00,000
Maximum Loan Amount₹10 Crores
Maximum Loan Tenure (in years)15

HSBC Bank Loan Against Property Eligibility

When it comes to the loan against property, banks have certain parameters on the basis of which it provides the loan amount. Just like any other banks, the main factors that affect the eligibility of HSBC Bank are: monthly salary of the applicant, savings, monthly expenses, market value of the property, loan tenure, interest rate, and the current EMI (if any).

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So, the perfect balance between the earnings and expenses along with the market value of the property, the higher loan amount you can get.

HSBC Bank Loan Against Property EMI Calculator

An EMI calculator is the tool that tells you the EMI or Equated Monthly Installment that you have to pay to the lender for the loan that you have applied for. The calculator works on the basis of the loan amount, tenure and rate of the interest of the loan. The calculator will compute the interest component and then the principal amount that you will have to pay towards your loan.

So, if you are planning to take a loan against property and want to know the monthly installments, here is an example. For Example: If you are interested in availing a loan of ₹25,00,000 from HSBC for 15 years at an interest rate of 9.85% p.a., then you must be wondering about the EMI, total interest outgo and total amount payable from your pocket will be ₹26,636,₹22,94,512, and ₹47,94,512 at the end of your loan tenure.

For your reference there is a table below, wherein you can also know your EMI, interest and total amount payable on the same amount of loan for different tenures.

Table Showing EMI, Interest Outgo, and Total Repayment Amount

Loan Amount Interest Rate Tenure Monthly Instalment Total Interest Amount Total Amount

EMI, Total Interest Outgo, Total Repayment (Interest + Principal)

Year Principal Interest Balance Amount

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Documentation Required for HSBC Bank Loan Against Property

SalariedSelf-employed IndividualsSelf-employed Professionals
Complete Application Form with Passport Size PhotographComplete Application Form with Passport Size PhotographComplete Application Form with Passport Size Photograph
Proof of IdentityProof of IdentityProof of Identity
Proof of Residential AddressProof of Residential AddressProof of Residential Address
Proof of AgeProof of AgeProof of Age
Latest 3 months salary slip showing statutory deductionsAcknowledged IT returns for last 2 yearsAcknowledged IT returns for last 2 years
Bank statements for the last 3 months showing last 3 salary creditsP&L account, Balance sheet certified / audited by CA & Computation of Income for the last 2 years with all Annexure and Auditors ReportP&L account, Balance sheet certified / audited by CA & Computation of Income for the last 2 years with all Annexure and Auditors Report
NA
Primary Bank account statements for the last 6 monthsPrimary Bank account statements for the last 6 months
NA
For Partners of the Partnership firm additionally Partnership deed is requiredNA
NA
Share holding Pattern or Memorandum and articles of association duly attested by CANA
NA
List of directorsNA

Features & Benefits of HSBC Bank Loan Against Property

  • Higher Loan Amount
  • Attractive Interest Rates
  • Convenient Loan Repayment Options
  • Both Residential and Commercial Property accepted as collateral
  • Minimal Documentation and Faster loan approvals
  • Balance Transfer Facility

Personal Loan Interest Rates December 2017
Bajaj Finserv 10.99% - 16.00%
Fullerton India 14.00% - 33.00%
HDFC Bank 10.99% - 20.70%
ICICI Bank 10.99% - 18.40%
IndusInd Bank 12.99% - 20.00%
Kotak Bank 10.99% - 17.99%
RBL 14.00% - 18.00%
Standard Chartered Bank 10.99% - 14.49%
Tata Capital 11.49% - 18.00%
Home Loan Interest Rates December 2017
State Bank of India/SBI 8.30% - 8.60%
HDFC 8.35% - 8.95%
Bank of Baroda 8.30% - 9.30%
LIC Housing 8.35% - 8.70%
PNB Housing Finance 8.35% - 8.70%
ICICI Bank 8.35% - 8.85%
Axis Bank 8.35% - 8.75%
Citibank 8.60% - 9.35%
Indiabulls Housing Finance Limited 8.35% - 8.55%
Kotak Bank 8.35%
EMI Calculator