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UAE Home Loans

Summary of Interest Calculation Changes Under HSBC UAE Home Loan Terms & Conditions


Amendments to the HSBC Home Loan Terms and Conditions are set out below.  For ease of reference, additions are underlined

Terms and Conditions
This name of the document can be found on the first page of your Home Loan Terms and Conditions

Existing Clause
This will be the existing clause under your Terms and Conditions

Amended Clause
The Existing Clause will be amended in the manner illustrated below with effect from 10 June 2017

HSBC Bank Middle East Limited Home Loan Terms and Conditions (May 2005 – October 2009)

6.3 We charge interest in arrears monthly.

6.3 Interest is calculated on the basis of a 365 day calendar year and accrues daily. We charge interest in arrears monthly.

HSBC Bank Middle East Limited Home Loan Terms and Conditions (November 2009 – January 2014)

6.4 Daily interest is calculated on the basis of a 360 day calendar year and interest is applied on the basis of a 365 day calendar year.

6.4 Daily interest is calculated on the basis of a 365 day calendar year and accrues daily

HSBC Bank Middle East Limited Home Loan Terms and Conditions (February 2014 onwards)

6.3 Daily interest is calculated on the basis of a 360 day calendar year and the interest portion of your Monthly Payment is applied on the basis of a 365 day calendar year. If this results in a slightly larger final Monthly Payment, we may agree with you a short extension to the Repayment Period to enable you to pay the final Monthly Payment.

6.3 Daily interest is calculated on the basis of a 365 day calendar year and accrues daily. If this results in a slightly larger final Monthly Payment, we may agree with you a short extension to the Repayment Period to enable you to pay the final Monthly Payment.



UAE Home Loans

Summary of Interest Calculation Changes Under HSBC UAE Home Loan Terms & Conditions


Amendments to the HSBC Home Loan Terms and Conditions are set out below. For ease of reference, additions are underlined

Terms and Conditions
This name of the document can be found on the first page of your Home Loan Terms and Conditions
Existing Clause
This will be the existing clause under your Terms and Conditions
Amended Clause
The Existing Clause will be amended in the manner illustrated below with effect from 10 June 2017
HSBC Bank Middle East Limited Home Loan Terms and Conditions
(May 2005 – October 2009)
6.3 We charge interest in arrears monthly. 6.3 Interest is calculated on the basis of a 365 day calendar year and accrues daily. We charge interest in arrears monthly.
HSBC Bank Middle East Limited Home Loan Terms and Conditions (November 2009 – January 2014) 6.4 Daily interest is calculated on the basis of a 360 day calendar year and interest is applied on the basis of a 365 day calendar year. 6.4 Daily interest is calculated on the basis of a 365 day calendar year and accrues daily.
HSBC Bank Middle East Limited Home Loan Terms and Conditions (February 2014 onwards) 6.3 Daily interest is calculated on the basis of a 360 day calendar year and the interest portion of your Monthly Payment is applied on the basis of a 365 day calendar year. If this results in a slightly larger final Monthly Payment, we may agree with you a short extension to the Repayment Period to enable you to pay the final Monthly Payment. 6.3 Daily interest is calculated on the basis of a 365 day calendar year and accrues daily. If this results in a slightly larger final Monthly Payment, we may agree with you a short extension to the Repayment Period to enable you to pay the final Monthly Payment.