HSBC Bank Personal Loan For Self-Employed

Competitive interest rates and minimal documentation make the HSBC Bank personal loan for self-employed an ideal solution to avail of instant funds. The EMI can be extended for a tenure of up to 5 years, and in addition to that, the interest rates start from as low as 9.99% per annum, making EMIs flexible without any burden on the pocket. Without any need for collateral or a guarantee, one can instantly apply online for an HSBC Bank personal loan for self-employed. Your dream purchase is one step closer to reality with the HSBC Bank personal loan for self-employed.

HSBC Bank Personal Loan for Self-Employed – Highlights

Refer to the table below for the main features of the HSBC Bank personal loan available to self-employed individuals:

Eligibility Criteria For Self-Employed Personal Loan

Before applying for an HSBC Bank personal loan for self-employed, the following eligibility criteria must be met: Salaried applicants must be between 21 and 60. In comparison, self-employed individuals must be between 21 and 65. The loan is available only to Indian residents and citizens, and applicants must have a correspondence address within India. Additionally, they must have an active HSBC current or savings account that has been open for over three months. It is important to note that non-resident Indians (NRIs) are not eligible for this loan.

Documents Required for HSBC Bank Personal Loan

Gather the necessary documents to apply for an HSBC Bank personal loan for self-employed individuals.

• Identity proof: Aadhar Card, PAN Card, Driving License, or Voter ID Card.
• Address proof: Telephone bill, Electricity bill, Aadhar Card, or Property Tax Bill.
• Financial documents: Latest salary slip, bank statements from the last three months, and IT Returns for the past two years.

HSBC Bank Personal Loan For Self-Employed – Fees & Charges

Following are the fees and charges for an HSBC Bank personal loan for self-employed:

Processing Fee: 

• Up to 2.00% of the loan amount

Pre-Payment Charges: 

• 1% for a tenure of up to 12 months
• 2% for a tenure of up to 24 months
• 3% for a tenure of up to 36 months
• 2% for a tenure after 36 months

How To Apply For A Self-Employed Personal Loan

Self-employed individuals can apply for an HSBC Bank personal loan through the Urban Money website:

• Visit the Urban Money website.
• Select the “Loan” section and choose “Personal Loan”.
• Find the HSBC Bank section and click the “Apply Now” button.
• Complete the brief online application form with your name, mobile number, and city.
• Submit the form and receive a six-digit OTP on your mobile phone.
• Enter the OTP in the designated field for verification.
• After verification, a loan specialist from Urban Money will contact you to continue the process.

Alternative Options In HSBC Bank For Personal Loans

A self-employed individual seeking a personal loan from HSBC Bank can consider alternative methods to raise funds:

One option is a Loan Against Property, which enables individuals to secure funds using their residential property as collateral. Additionally, HSBC offers a Smart Loan Against Property (Smart LAP), allowing individuals to raise funds against their residential or commercial property.