HSBC Bank Flexi Loan

One might believe they are always financially ready until there is a dire situation, say an unexpected health emergency, which calls for a large amount of money.

This is where the HSBC Bank Flexi Loan brings you the solution. It can provide a monetary cushion for any unforeseen financial trouble. 

However, what is Flexi Loan exactly, and what does it entail? Let’s understand it in detail. 

Features and Benefits of HSBC Bank Flexi Personal Loans

HSBC Bank Flexi Loan offers multiple benefits to its customers:

• Flexibility: A tenure of up to 5 years (6–60 months, with additional 6-month blocks). 
• Convenience: Repayment is made hassle-free through EMI, ECS, or SI. 
• Uncomplicated Loan Transfer: Existing personal loans from other banks in India can transferred to HSBC with ease.
• Zero complexity: No need for collateral or a guarantor.
• Efficiency: Easy documentation process for the Flexi personal loan.

HSBC Bank Interest Rate for Flexi Personal Loan

The HSBC Bank Flexi Loan interest rate for personal loans is designed to offer competitive, affordable, transparent options for borrowers. 

Here’s a breakdown of the rates and charges associated with the HSBC Flexi personal loan:

Current Interest Rate Ranges	9.99–16.00% per annum
Processing Fee	Up to 2% of the loan amount (non-refundable)
Full/Partial Prepayment Charges	5% within the first year of tenure 4% within the second year 3% within the third year 2% after the third year

Flexi Loan EMI Calculator

To pay for your HSBC Bank flexible personal loan, plan your financial budget in advance to make informed decisions. This calls for knowing the EMI amount to be paid each month.

Thankfully, you can easily access that information using the HSBC Bank Personal Loan Calculator by Urban Money.

This tool is easy to use, provides accurate results, and even helps you decide the right loan amount that fits your financial budget and repayment capacity.

Eligibility Criteria

To know whether you are eligible or not to apply for the HSBC Bank Flexi loan, here’s a list of criteria to review:

• HSBC Bank Flexi Loan for salaried employees falls within the age range of 21 to 60, while self-employed individuals can apply from 21 to 65 years old.
• Applicants must be residents and citizens of India with a correspondence address within the country.
• An active HSBC current and/or savings account, open for over 3 months, is a prerequisite.

Documents Required for an HSBC Bank Flexi Personal Loan

Here’s the list of HSBC Bank Flexi Loan documents required for the loan application:

• Signed application form along with a photograph
• Copy of your voter ID card, your driving license, or passport
• Processing fee cheque
• Last 3 or 6 months’ bank passbook
• For salaried applicants, a recent salary slip and a current dated salary certificate are mandatory, along with the latest Form 16
• For self-employed applicants, the latest bank statement and the most recent Form 16

Difference Between Term Loan and Flexi Loan

While both term loans and Flexi Loans help people meet their financial goals and have similar eligibility criteria, they are quite different.

With a term loan, you receive a one-time payment from the lender. The entire sum is subject to interest, and early repayment may incur penalties.

On the other hand, you can withdraw funds as needed with a flexible loan. Only the amount that you use is subject to interest charges, and early repayment typically bears no penalties. 

How to Apply for an HSBC Bank Flexi Personal Loan Online at Urban Money?

To apply for the HSBC Bank Flexi Loan online:

• Visit the official website of Urban Money.
• Visit the Personal Loans section and click on the Apply Now button.
• Provide the required personal details and click on the Submit button.
• Once done, a company representative will contact you soon to help you avail of the Flexi Loan.