Earn exclusive cashback rewards
Give your goals a head start with AED 500 cashback when you take out a new personal loan, or transfer your existing loan.1
You could also be eligible for up to a total of AED 5,500 of exclusive cashback offers on a range of products.
HSBC New to Bank Customer Offer and Relationship Offer Terms and Conditions apply.
Offer valid from 16 January to 30 April 2023 (both days inclusive).
Make the most of your home
Already an HSBC Customer?
Log on to online banking for the quickest and easiest way to apply.
Why you'll want an HSBC Home Improvement Loan
- Flexible termsPay your loan back over 6 to 48 months.
- Individualized interest rateGet an interest rate based on your profile.
- No need for Credit life insuranceTake out your loan without having to pay for extra insurance.
Are you eligible?
You can apply for a Home Improvement Loan if you:
- are a UAE national or resident
- are between 21 and 65 years old
- earn at least AED 7,500 a month3
- have a current account with HSBC and credit your salary to that account
Things you should know
Representative example
| Total loan amount | Repayment time | Monthly instalment | APR (Annual Percentage Rate)4 |
Total interest (for the loan tenor) | Total Processing Fees (including VAT) |
|---|---|---|---|---|---|
| AED 150,000.00 | 48 months | AED 3,591 | 7.24% | AED 22,380 | AED 1,575.00 |
| Total loan amount | AED 150,000.00 |
|---|---|
| Repayment time | 48 months |
| Monthly instalment | AED 3,591 |
APR (Annual Percentage Rate)4 |
7.24% |
| Total interest (for the loan tenor) | AED 22,380 |
| Total Processing Fees (including VAT) | AED 1,575.00 |
If you do not keep up your repayments/payments, you may lose your property.
You may have to pay penalties if you pay off a loan/financing early.
If you do not meet the repayments/payments on your loan/financing, your account will go into arrears. This may affect your credit rating, which may limit your ability to access financing in the future.
Refinancing your loans/financing may take longer to pay off than your previous loan/financing and may result in paying more in interest/profit.
How to apply
Online
Already an HSBC Customer?
Log on to online banking for the quickest and easiest way to apply.
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Notes
1Top-ups are excluded and subject to credit risk policy approvals.
2Annual Percentage Rate quoted is based on reducing rate which is fixed throughout the loan tenor, and is inclusive of 1% arrangement fee amortized over the maximum loan tenor of 48 months. Interest is calculated on the basis of a 365 day calendar year and accrues daily. We apply the interest rate to your Loan balance as it reduces each month (i.e. as you pay each scheduled instalment).
3Final approval is subject to satisfactory documentation, salary transfer, internal policies and credit bureau checks.
4The mentioned rate is applicable for Premier customers working for a HSBC listed company. This rate may vary depending on the customer segment and prevailing market condition.