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. Rates start from 6.74% annual percentage rate. This rate is available to Premier customers working for a listed company with HSBC who transfer their salaries to HSBC.1 & 2
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.
No need for Credit life insurance
Take 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 month2
- 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 instalment3 |
|---|---|---|
| AED 100,000 | 48 months | AED 2,488 |
| Total loan amount | AED 100,000 |
|---|---|
| Repayment time | 48 months |
| Monthly instalment3 | AED 2,488 |
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
1Annual 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).
2Final approval is subject to satisfactory documentation, salary transfer, internal policies and credit bureau checks.
3This example is calculated on the basis of an Advance customer applying for a personal loan of AED 100,000 for 48 months at an interest rate of 8.99%. This customer is also working for a company listed with HSBC as an Approved Employer.