Personal Loans

HSBC Personal Loan: Get Up To S$3,000 Cashback When You Apply Online

Looking for a personal loan in Singapore with manageable monthly repayments? HSBC Personal Loan has one of the highest tenor (up to 7 years) and interest rates starting from 4% EIR. Plus, get up to S$3,000 cashback when you apply online. Read to find out more.

Whether you need extra cash to renovate your home, hold your dream wedding or send your children overseas to study, HSBC has the right loan for you.

Personal Line of Credit Installment Plan (Personal Loan)
  • Interest rate from as low as 4% p.a. (EIR 7.5% p.a.)
  • Fixed monthly repayment for up to 7 years
  • No processing fee
  • No supporting documents required for existing HSBC Personal Line of Credit customers

Terms and conditions apply. Visit:

When to Apply For Personal Loan

Many of us may hesitate to get a personal loan and be in debt, but sometimes having one can help to finance large purchases or an important undertaking.

Home Remodelling/Renovation

Typically, users would turn to renovation loans when it comes to renovating their homes. The loan can be used for a variety of items, including:

  • Carpentry (e.g. built-in wardrobe and kitchen cabinets)
  • Electrical and wiring
  • Painting
  • Flooring
  • Tiling
  • Sanitary fittings
  • Structural alterations (e.g. hacking of walls, etc)

The glaring drawback, however, is that the money obtained from your renovation loan cannot be used to furnish your home, including furniture and electrical appliances.

If you’re looking to remodel or renovate your home, a personal loan might just be what you need.

The flexibility of being able to use the money for your personal loan comes in extremely handy when unforeseen changes happen during your renovation or remodelling.

For example, if you obtain a renovation loan and decide to enhance your renovation designs halfway through the works, you might be liable for an additional charge.

Or, if you need to make any additional last-minute repairs to your new home, you might need to fork out moving fees or even pay for the final rent to your previous residence.

Sending Your Children To Study Overseas

Children studying overseas will need more than just tuition fees. Lodgings, travel allowance, and emergency funds are what the children will also require when studying abroad.

For parents looking to fund their children’s overseas endeavours (and ambitions), a personal loan, especially one with an interest rate as low as 4% p.a. (E.I.R 7.5% p.a.), might just be the solution to keep the young ones safe and happy.


A wedding is a once-in-a-lifetime event that couples tend to splurge on to create a wonderful memory. From wedding invitations to wedding dresses and venues, they could easily rake up a hefty five-digit bill. In cases where one has limited funds but would like to actualise their dream wedding, a personal loan may be an option.


An accident, getting scammed, or even a loved one’s funeral — emergencies always happen when they are least expected. If such emergencies occur and you are unprepared, a personal loan may be a viable solution to tide you through the difficult times.

Consider this if you require a large, long-term personal loan
  • Eligibility
    • S$30,000 of annual income
    • Max. Loan Amount
      • 4x monthly salary for income S$30,000 to S$120,000; 8x monthly salary for income > S$120,000; S$200,000 Maximum Loan Size (2x monthly salary for foreigners)
      • Min. Loan Amount
        • S$10,000
        • Processing Fee
          • S$0
          • Approval Time
            • 1 minute approval, receive cash in one business day

            When it comes to personal loans, HSBC offers one of the lowest effective interest rates in the market (from EIR 7.5% p.a.). In addition, HSBC is the only lender that provides seven-year personal loans in Singapore. This can reduce the monthly payment burden as customers can spread their payments over a longer period of time.

            Loan DurationFlat RateProcessing FeeEIRMonthly InstalmentTotal Cost
            1 year4%0%7.5%S$866.67S$400
            2 years4%0%7.5%S$450.00S$800
            3 years4%0%7.5%S$311.11S$1,200
            4 years4%0%7.5%S$241.67S$1,600
            5 years4%0%7.5%S$200.00S$2,000
            6 years4%0%7.5%S$172.22S$2,400
            7 years4%0%7.5%S$152.38S$2,800
            Assuming S$10,000 loan and income of S$30,000; Please note that rates above are not indicative of your customised loan offer. Based on HSBC Current Campaign of 0% processing fee.

            To find out the exact cost of your personal loan, you can use the HSBC calculator here.

            Eligibility & Maximum Loan Amount

            Singaporean/Singapore PRForeigner (employment pass with at least 6 months’ validity)
            Age21 – 65 years old
            Income RequirementsSalaried:
            S$30,000 annual income

            Self-employed or commission-based:
            S$40,000 annual income
            S$40,000 annual income (lowest among banks in Singapore)
            Maximum Loan AmountS$30,000 – S$119,999 annual income:
            4X monthly income

            S$120,000 and above annual income:
            8X monthly income up to S$200,000
            Up to 1X monthly income

            Application & Fees

            You can apply for an HSBC Personal Loan easily via the HSBC website.

            To calculate monthly repayments and fees for each month, you can use the HSBC Monthly Instalment calculator.

            To find out more about the HSBC Personal Loan’s fees and charges, click here.

            Additional Resources:

            Tan Boon Hun

            Boon Hun spent over five years in the content marketing space as the managing editor of Goody Feed creating interesting and relevant content for the social media generation. In 2022, he moved to the FinTech space while remaining true to his roots, intending to bring financial literacy to more people in Singapore. When not doing his work, he can be found watching people build homes on YouTube.

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