Personal loan
| Borrow | Interest rate from | Repayment period | Loan buy-out facility | |
|---|---|---|---|---|
| Up to AED750,000 | From 6 to 48 months | Yes |
Here's what you get*:
- Reduced interest rates - starting from 5.99% p.a.
- 0% processing fees
- HSBC Credit Card with no annual fees ever (provided the minimum annual spend is met), which comes with a free Entertainer booklet of vouchers worth AED 25,000
- High loan amounts - depending on your eligibility. You can borrow up to AED750,000.
- Instalment deferment option - defer your monthly instalment up to 2 times a year
- A gift voucher worth AED 200
More great benefits*:
- Minimum balance waiver - automatically get an HSBC Current Account with no minimum balance requirement for the duration of your loan
- Minimal paperwork - to make your loan application process as straightforward as possible
- Credit Life Protection - In case of an unfortunate event of loss of life, your total outstanding loan amount will be covered *
- Attractive pricing discount for Premier and Advance customers
- Salary starting from AED7,500 per month
Plus:
- Free Cheque Book
- Free Debit Card
- Free Internet Banking
- Access to 24/7 phone banking
You can apply for a Personal Loan if:
- You're a U.A.E National or expatriate resident aged between 21 to 65 years.
- You're an expat aged between 21 to 65 years.
- You earn a minimum monthly salary of AED7,500.
| Description | Charges |
|---|---|
| Arrangement fee (new loans) | 0%* |
| Arrangement fee (top-up) | 0%* |
| Late payment charge | 2% of the delayed amount (minimum AED50 and maximum AED200) |
| Loan insurance protection | |
| - Tenure up to 36 months | 0.85% of the loan amount |
| - Tenure over 36 months | 1.30% of the loan amount |
| Early settlement of loan (own sources) | 1% of outstanding loan amount |
| Early settlement of loan (paid by another bank) | 1% of outstanding loan amount |
| Partial payment of loan | 1% of partial payment amount |
| Loan cancellation fee | AED100 |
| Liability letter | AED100 |
| No liability letter | AED100 |
| Loan rescheduling fee | AED250 |
| Installment deferment fee | AED100 / deferment |
| Required Documentation - PAL/SAL | |
|---|---|
| Application | Loan Application & Agreement Form |
| Primary Identification | Expatriates: Valid Passport & UAE Residence Visa page UAE nationals: Valid Passport copy |
| Evidence of Income | Pvt. Companies - Salary Transfer Letter (STL) Govt. Companies - Salary Certificate (SC) or STL |
| Security cheque | Undated Security Cheque |
| Bank Statement | New to bank customers: last 2 months bank statement showing two-credit salary. The following are exempt from the requirement: - New to country if same can be proved through date of entry in UAE - Govt. employees if the first salary is credited to the account Buy-outs: Last 2 months bank statement |
| Liability Letter (not more than 30 days old) | Required for Buy-out only |
| Cashier's Order Cheque (COC) Request | Required for Buy-out only |
Ready to apply? Have us call you