55 Lakh HSBC Bank Home Loan

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If you wish to purchase a ready-to-move-in or under-construction property, you can explore the 55 lakh HSBC Bank home loan available to Indian Citizens and NRIs. With loan tenure of up to 25 years and attractive interest rates starting from 8.50% per annum, home loan applicants can benefit from flexible EMIs. With no prepayment or foreclosure charges on floating rates loans, the 55 lakh HSBC Bank home loan charges are minimal. Continue reading further to explore the EMI on the home loan for 10 or 20 years and understand why the HSBC Bank 55 lakh home loan is an ideal choice for your dream home purchase.

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Table of Content

1. Key Highlights 55 Lakh HSBC Bank Home Loan

2. 55 Lakh HSBC Bank Home Loan 5 Years EMI

3. 55 Lakh HSBC Bank Home Loan 10 Years EMI

4. 55 Lakh HSBC Bank Home Loan 15 Years EMI

5. 55 Lakh HSBC Bank Home Loan 20 Years EMI

6. 55 Lakh HSBC Bank Home Loan 25 Years EMI

7. 55 Lakh HSBC Bank Home Loan Fees & Charges

8. Documents Required for a 55 Lakh HSBC Bank Home Loan

9. 55 Lakh HSBC Bank Home Loan Eligibility Criteria

Written By

Satyam Sachdeva

Satyam has always been interested in saving money and realising its worth. He created a Demat account when he turned 18 and has been a keen equity and mutual fund investor. Currently, a writer for Urban Money, he uses his skills to guide his readers in the right direction. Satyam strives to make financial complexities easy for everyone to understand with a pinch of creative salt.

Reviewed By

Amit Prakash Singh

Co-Founder, Square Yards & Chief Business Officer, Urban Money

Amit Prakash Singh is the Chief Business Officer at Urban Money. With over nine years of experience at Square Capital, he has played a crucial role in establishing it as one of India's premier loan advisory services. Amit's deep financial insights and extensive knowledge have driven significant business growth and strategic advancements. He has successfully built and managed large sales teams, optimised costs, and created leaders within the industry. Amit's financial expertise and strategic vision are key to the ongoing success and expansion of Square Yards and Urban Money.

Key Highlights – 55 Lakh HSBC Bank Home Loan

The key highlights of a 55 lakh HSBC Bank home loan are given in the table below:

Key Feature	Details
Loan Amount Range	From Rs 300,000 to Rs 600,000,000.
Eligible Properties	Available for ready properties, select under-construction properties for resident and non-resident Indians (NRIs).
Loan Tenure	Up to 25 years for salaried individuals and 20 years for self-employed applicants.
Interest Rates	Starting at 8.50% p.a. for floating rates and 13.25% p.a. for fixed rates.
Processing Fees	1% of the loan amount or INR 10,000, whichever is higher, is non-refundable.
Pre-payment Charges	No charges for floating-rate loans; charges apply for fixed-rate loans under specific conditions.

55 Lakh HSBC Bank Home Loan – 5 Years EMI

If a 55 lakh HSBC Bank home loan attracts a yearly interest rate of 10.30%, the applicable EMI over a tenure of 5 years is calculated below:

Loan Amount	Interest Rate	Loan Tenure	EMI Amount	Total Interest Payable	Total amount Payment
Rs 55 lakh	10.30%	5 years	₹1,17,672	₹15,60,336	₹70,60,336

55 Lakh HSBC Bank Home Loan – 10 Years EMI

If you take a home loan of INR 55 lakhs from HSBC Bank at an annual interest rate of 10.30%, the monthly EMI for a 10-year term is calculated as follows:

Loan Amount	Interest Rate	Loan Tenure	EMI Amount	Total Interest Payable	Total amount Payment
Rs 55 lakh	10.30%	10 years	₹73,600	₹33,31,961	₹88,31,961

55 Lakh HSBC Bank Home Loan – 15 Years EMI

For a home loan amounting to INR 55 lakhs from HSBC Bank at a 10.30% annual interest, the EMI over 15 years is determined below:

Loan Amount	Interest Rate	Loan Tenure	EMI Amount	Total Interest Payable	Total amount Payment
Rs 55 lakh	10.30%	15 years	₹60,117	₹53,21,021	₹1,08,21,021

55 Lakh HSBC Bank Home Loan – 20 Years EMI

With a home loan of INR 55 lakhs from HSBC Bank at 10.30% interest per annum, the EMI for a 20-year tenure is computed as shown:

Loan Amount	Interest Rate	Loan Tenure	EMI Amount	Total Interest Payable	Total amount Payment
Rs 55 lakh	10.30%	20 years	₹54,174	₹75,01,757	₹1,30,01,757

55 Lakh HSBC Bank Home Loan – 25 Years EMI

For an HSBC Bank home loan of INR 55 lakhs at a 10.30% yearly interest rate, the EMI for a 25-year duration is mentioned below:

Loan Amount	Interest Rate	Loan Tenure	EMI Amount	Total Interest Payable	Total amount Payment
Rs 55 lakh	10.30%	25 years	₹51,146	₹98,43,908	₹1,53,43,908

55 Lakh HSBC Bank Home Loan – Fees & Charges

The specific fees & charges applicable on a 55 lakh HSBC Bank housing loan are detailed below:

Fee Type	Details
Processing Fees	1% of the loan amount sanctioned or INR 10,000, whichever is higher, plus applicable taxes. – INR 5,000 + taxes paid upfront with the application. – Balance before disbursal. – Non-refundable.
Pre-payment/Foreclosure	Floating Rate Loans – No pre-payment or foreclosure charges. Fixed Rate Loans – INR 5,000 + 5% of principal outstanding/amount prepaid + applicable taxes.
Conditions for Pre-payment Charges	Charges apply if: – Bulk payment leads to a drop in account limit. – Switching from fixed to floating rate. – Full repayment before the fixed-rate period ends.
Pre-payment Request Process	Written instruction is required to specify whether to reduce loan tenure or EMI. The default action is reducing loan tenure.

Documents Required for a 55 Lakh HSBC Bank Home Loan

Check the points below to understand the important documents that are required to avail of a 55 lakh HSBC Bank home loan:

Proof of Identity: Self-attested copies of Passport, Voter ID, Driving License, PAN Card, or Aadhaar.
Proof of Residential Address: Self-attested documents such as Passport, Voter ID, Driving License, Utility Bills, Property Tax Bill, or Domicile Certificate.
Proof of Age: Self-attested Passport, Driving License, or PAN Card.
For Salaried Individuals: Recent 3 months’ salary slips and corresponding bank statements.
For Self-employed Individuals: Income Tax returns, Profit & Loss statements, Balance Sheets, and bank statements from the last 6 months.
NRI Applicants: Passport with valid Visa, Work Permit, recent salary slips, Overseas Bank Statements, NRE/NRO Account Statements, and a Local Bureau Report.
Merchant Navy Applicants: Contract agreement, Continuous Discharge Certificate (CDC), Passport, last 3 months’ bank statements, and a Local Bureau Report.

55 Lakh HSBC Bank Home Loan – Eligibility Criteria

The eligibility criteria for a 55 lakh HSBC Bank home loan are encapsulated in the table below:

Criteria	Details
Minimum Annual Income	INR 500,000 (for salaried individuals) or INR 750,000 (for self-employed individuals)
Eligible Age Range	– Minimum: 21 years – Maximum: 58 years (salaried), 60 years (public sector/government employees), or 65 years (self-employed)
Loan Amount Range	– Minimum: INR 300,000 – Maximum: INR 600,000,000
Maximum Loan Tenure	– 20 years (standard) – Up to 25 years for salaried applicants

Frequently Asked Questions (FAQs)

What is the EMI for a 55 lakh HSBC Bank home loan for 20 years?

Assuming the applicable yearly interest rate of 10.30% on a 55 lakh HSBC Bank home loan for 20 years, the EMI will be ₹54,174.

Who is eligible for a 55 lakh HSBC Bank home loan?

Indian Citizens & NRIs (who have a local co-applicant or a local contact person) are eligible for the 55 lakh HSBC Bank home loan.

What is the monthly interest rate on a 55 lakh HSBC Bank home loan?

A HSBC Bank home loan monthly interest rate starts at 0.71%.

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