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Home Improvement Loan

It takes more than money to turn a personal loan into a more personal home

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

There's always something that needs doing around the home. A Home Improvement Loan could help you get the most out of your property sooner rather than later. Annual Percentage Rate (APR) starts from 7.24%. This rate is available to Premier customers working for a HSBC listed company and who transfer their salaries to HSBC.2 & 3

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 terms
    Pay your loan back over 6 to 48 months.
  • Individualized interest rate
    Get an interest rate based on your profile.
  • Adaptable to meet your needs
    Top-up option to accommodate your ever-changing financial needs.2
  • No need for Credit life insurance
    Take out your loan without having to pay for extra insurance.
  • Quick decision
    Get an approval in principle on your loan in 10 minutes if you apply online.2

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

An illustrative example of monthly instalment, total interest and total processing fee for an HSBC Personal Loan for Premier customer is given below:
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
An illustrative example of monthly instalment, total interest and total processing fee for an HSBC Personal Loan for Premier customer is given below:
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

Related products

 

Invest in what matters most.

 

A safety net for life's unexpected expenses.

 

Make memories in a new home.

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.

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