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Why choose an Education Loan from HSBC?

Looking to take the next step in your career? Or a new career direction? Whatever your study goal, set yourself up the right way to make the most of your professional development.

 

With an HSBC Education Loan, you can be confident you have your tuition, books and materials, even accommodation expenses covered. One fixed monthly repayment allows you to spend your time focussing on your study. Borrow what you need, from $5,000 to $50,000 with flexible loans terms from 1 – 5 years. When it comes to investing in yourself, our education loan makes it simple.

Interest Rates
from 8.50% p.a.1
Fixed Rate
from 9.06% p.a.

Comparison Rate

(^Comparison rate warning applies)

Receive funds fast in 4 easy steps

1.Get your rate in a minute

Enter your details to get a personalised rate. This will not impact your credit score. 

2.Apply Online

Tell us how much you want to borrow and complete the application.

3.Verify yourself online

We can verify your identity and upload your documents online.

4.Receive the funds

Funds will be released to your account the next day upon approval of the loan and acceptance of your letter of offer.

Rates and fees – Education Loan

Rates and fees for an Education Loan
Fee Type Details

Fixed interest rate

from 8.50% p.a. to 16.99% p.a.1

Comparison rate  (^Comparison rate warning applies)

from 9.06% p.a. to 17.53% p.a.

Establishment fee

$150

Monthly account servicing fee

$5

Early termination fee

$199

Rates and fees for an Education Loan
Fee Type

Fixed interest rate

Details

from 8.50% p.a. to 16.99% p.a.1

Fee Type

Comparison rate  (^Comparison rate warning applies)

Details

from 9.06% p.a. to 17.53% p.a.

Fee Type

Establishment fee

Details

$150

Fee Type

Monthly account servicing fee

Details

$5

Fee Type

Early termination fee

Details

$199

^The comparison rate is based on an unsecured loan of $30,000 over the term of 5 years. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

Fees apply for other account services. Please refer to our current Personal Banking Booklet (PDF, 1.50 MB) for full details.

Ready to apply for an HSBC Education Loan?

Who can apply

  • Must be over 18 and be an Australian resident
  • Earn at least $40,000 p.a.
  • Have a good credit rating

Information needed

  • Identification
  • Address details
  • Income and employment

What to expect

  • Complete a short form to know if you are eligible & get your personalised rate 
  • Get an instant response in 60 seconds
  • Track application and upload documents online

Education Loan FAQs

How much do I need to earn to apply for an HSBC Education Loan?

To apply for an Education Loan, you should be earning over $40,000 p.a. and have a good credit rating. You will also need to be over 18 years old and an Australian resident.

What are the fees associated with an HSBC Education Loan?

The following fees apply to an HSBC Education Loan:

  • $150 Establishment Fee.
  • $5 Monthly Servicing Fee.
  • Early Termination1 Fee.

These fees are applied to the loan balance and form part of your fixed monthly repayment. Fees apply for other account services. Please refer to our current Personal Banking Booklet (PDF, 1.50 MB) for full details.

I am having difficulty completing my HSBC Education Loan application form, who can I speak to for assistance?

You have two options: use the Live Chat functionality on hsbc.com.au

Alternatively, you can call 1300 131 605.

Can I change the frequency of my repayments?

Unfortunately, you cannot change your Education Loan repayments as they are fixed monthly over the life of the loan. However, you do have the flexibility to make extra repayments to your loan.

Where can I find my Education Loan statements?

You can view your loan statements via HSBC Online Banking.

Apply for an HSBC Education Loan

Ready to Apply

By clicking on Get started, you will be taken to a short form hosted by our partner Equifax, to determine your Equifax Score Band and the indicative interest rate you could be eligible for.

Want to talk later?

Fill in our short online enquiry form and one of our Consultants will be in touch within 2 business days.

Credit provided by HSBC Bank Australia Limited ABN 48 006 434 162 Australian Credit Licence 232595. Fees, charges, terms & conditions apply. HSBC's lending criteria apply. Visit hsbc.com.au or call 132 152.

All applications are subject to HSBC lending criteria. Personal Loan Terms (PDF, 684 KB), Personal Banking Booklet (PDF, 1.50 MB) apply.

  1. Rate is applicable to new applications received from: 2 September 2019 (and subject to change). Interest rates range from 8.50% p.a. to 16.99% p.a. and is based on the applicant's individual Equifax Score Band and may be different to the lowest advertised interest rate. Early termination fee does not apply in the last 6 months of the loan term.

HSBC have partnered with Equifax who is an Australian consumer credit reporting body. When obtaining your Equifax Score Band, a soft credit check is performed which will not impact your credit rating.