HSBC Bank Overdraft Loan

In spite of careful financial planning and fiscal awareness, sometimes extenuating circumstances can push us beyond our limits and present a challenging situation. To help combat these challenges, salary account holders can make use of HSBC Anytime Credit, HSBC’s overdraft facility designed to help out with additional funds for dealing with the unexpected.

With a fast activation process that can be utilised when you open a salary account and apply online, you have the option to access up to five times your monthly salary, with a maximum limit of ₹50 lakhs.

Features of the HSBC Bank Anytime Credit Facility

The HSBC Anytime Credit facility provides a range of notable features that are designed to assist individuals in search of prompt financial assistance, including:

• No Fees: HSBC Anytime Credit requires no joining, processing, or renewal fees.
• Quick Activation: Account holders can quickly activate the overdraft facility when opening a salary account or by applying online.
• Favourable Interest Rates: HSBC Anytime Credit offers overdraft interest rates of 14% – 18% p.a.
• Convenience: You have flexible options for utilising your credit. You can obtain your pre-approved amount from ATMs, transfer it to another account, or make direct bill payments. 

HSBC Bank Fees and Charges: Anytime Credit Facility

HSBC Anytime Credit has no joining, processing, or renewal fees. Account holders will be charged interest rates according to the following:

Who is Eligible for an Overdraft Loan in HSBC Bank?

In order to avail of the HSBC Anytime Credit overdraft loan facility, you must:

• Be a salaried applicant between the ages of 21 and 60.
• Be a resident and citizen of India.
• Have an active HSBC salary account open for more than 3 months.
• Have a correspondence address in India.
• Have a minimum salary of ₹33,333 per month.

HSBC Bank Documents Required for Loan Applications

Applicants will be required to present certain documentation during their application. The applicant will need to have a salary account open with HSBC Bank for more than 3 months.

For Salaried Customers

• Salaried applicants may be required to upload the last three months of their latest payslip or Form 16.

For Self-Employed Customers

• Self-employed applicants may be required to submit the last two years of audited, certified financials, IT returns, or six months of primary account bank statements.

Process to Avail HSBC Bank Overdraft Loan

To inquire about and apply for the loan process, you can take the following steps:

• Visit the Urban Money website.
• Go to the Personal Loans section.
• After providing your personal information, you should soon receive a call from a representative who will provide support and guide you through the loan process.