FAQ: Car and Personal Loans

How much can I borrow?

You can borrow from a minimum of $5,000. The maximum you can borrow will depend on your individual financial position. The repayment table for car loans and personal loans will help you determine how much you can afford.

Do I need to provide security for an HSBC personal loan?

No, HSBC personal loans do not require security if the loan amount is up to $50,000. For loan amounts of $50,000 or more, some form of security will be required.

Do I need to provide security for an HSBC car loan?

Yes. HSBC's car loan uses your car as security for the loan. By using the car as security we can offer you a lower interest rate and you don't need to offer your home or other assets as security.

How will you assess my application?

We will assess your application against the details you provide to ensure that you can afford the repayments of the loan and check that you have a good credit history.

Can I consolidate my existing debts into a personal loan?

Yes. You can use an HSBC personal loan to consolidate your debts into one manageable payment.

How do I make repayments?

We will set up a direct debit facility for your loan repayments. That way you don't need to worry about making your repayments on time.

What can I use a personal loan for?

You can use a personal loan for any legal purpose. A personal loan cannot be used for a business purposes.

What is loan protection insurance?

Loan protection provides cover for your loan repayments if you become disabled, or in the event of death. Click here for more details.

Can I get pre-approval?

Yes. A pre-approved loan allows you to shop with confidence, knowing ahead what you can afford to repay. Pre approval lasts for 90 days, after that we will need to reassess your application.

What documents will I need to provide to have my car loan conditionally approved?

Nothing. After your car loan has been conditionally approved we will ask you to verify your application details such as income, address and identity.

What are your requirements for a car or personal loan?

To apply for a HSBC car or personal loan you will need to be earn at least $25,000 per annum, be over 18 years of age and have a good credit history.

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