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HSBC Home Loan Interest Rates 2021

HSBC Bank Housing Loan Interest Rate -Today

Last Updated 23rd Jun 2021

Current HSBC Bank Home Loan interest rates Jul 2021 starts at 6.64% p.a. for a maximum tenure of 25 years. The processing fee on its housing loans is Upto 1.00%, Maximum ₹ 10,000.

Loan AmountHSBC Bank Repo Rate Home Loan Rate
Upto ₹ 25 Lakh6.64%
₹ 25 Lakh - ₹ 75 Lakh6.64%
₹ 75 Lakh - ₹ 2 Cr6.64%
Above ₹ 2 Cr6.64%
Apply for Home Loan @ 6.65%* Get upto ₹ 1,000* Cashback

Current HSBC Bank Home Loan Rate

Today HSBC Bank home loan interest rates are in the range of 6.64% to 6.64%, with special discounted rates for specific categories of borrowers such as women borrowers for whom the bank offers the lowest interest rate of 6.64%.

Below-mentioned are HSBC Bank home loan rates for multiple housing schemes.

HSBC Bank Home Loan Scheme Interest Rates
HSBC Bank Repo Rate Home Loan6.64%

HSBC Home Loan Interest Rates for Salaried and Self Employed

The home loan interest rates in HSBC for salaried & non-salaried employee is mentioned in the table below:

Home Loan Interest Rate for Salaried

Loan Amount Rate
Upto ₹ 25 Lakh 6.64%
₹ 25 Lakh - ₹ 75 Lakh 6.64%
₹ 75 Lakh - 2 Cr 6.64%
Above ₹ 2 Cr 6.64%

Home Loan Interest Rate for Self-Employed

Loan Amount Rate
Upto ₹ 25 Lakh 6.64%
₹ 25 Lakh - ₹ 75 Lakh 6.64%
₹ 75 Lakh - 2 Cr 6.64%
Above ₹ 2 Cr 6.64%

HSBC Bank Home Loan Processing Fee and Other Charges

HSBC Bank home loan processing charges are upto 1.00% of the loan amount from its home loan customers to cover its expenses of conducting credit appraisal and technical evaluation of property. HSBC Bank charges the maximum processing fees at ₹ 10,000 on home loan which is typically non-refundable and has to be paid at the time of loan application. In addition to processing fees, the bank also charges certain technical and legal charges which are explained to the customer during the loan process and are payable once the loan application proceeds further.

Processing Fees Upto 1.00% of the loan amount; maximum fee of ₹ 10,000
Foreclosure Charges Nil for floating rate home loans

HSBC Home Loan Balance Transfer Interest Rates

HSBC Bank home loan balance transfer facility is ideal for existing home loan customers, who are paying high interest to their existing lender. Through this facility, you can transfer your existing home loan to HSBC Bank at a lower rate of interest, without closing the account. However, you do need to check the foreclosure charges that you have to pay to your existing lender if it is a fixed rate loan. Currently, HSBC Bank offers the lowest home loan balance transfer rate of 6.64%.

Illustration on Home Loan Interest Rate HSBC Bank
Maximum Annual Percentage Rate (APR) 6.68% to 6.68%
Representative example of the total cost of the loan, including all applicable fees
Here is an illustration of the total cost of the loan:
  • Total amount borrowed: ₹ 1,00,000
  • Time period: 5 Years to 25 Years
  • HSBC Bank Home Loan Interest Rate: 6.64% to 6.64%
  • Processing Fee payable to: Upto ₹ 1,000
  • Fee payable to MyLoanCare: NIL
  • Total Monthly Cost – From ₹ 684 for 25 Years ₹ 1,00,000 loan at 6.64% (lowest rate, longest time period) to ₹ 1,963 for 5 Years ₹ 1,00,000 loan at 6.64% (highest rate, shortest time period). This is inclusive of principal repayment.
  • Annual Percentage Rate (APR) of charge including all applicable fees: 6.68% to 6.68%
  • Total cost payable over loan tenure: ₹ 1,18,791 for 5 Years loan to ₹ 2,06,194 for 25 Years loan

FAQs

What is HSBC Home Loan Interest Rate?

HSBC Home Loan interest rate ranges between 6.64% to 6.64%. The salaried borrowers with high credit score and income are eligible to get lower interest rates.

Has HSBC reduced home loan rates?

As per the current rates, HSBC has cut its home loan rates by 0.1% from 6.74% to 6.64%, which is one of the best rates in the market. The new rates are effective from 01 Apr, 2021.

Why should I opt for balance transfer to HSBC Bank?

HSBC Bank offers lowest Home Loan EMI of ₹ 684 per lakh availed at the lowest interest rate 6.64% for a maximum tenure of 25 years. you are paying an EMI more than ₹ 684 per lakh, you should consider the option for a loan transfer to HSBC Bank from your existing bank.

  • HSBC Bank offers RBI Repo Rate linked Home Loan which starts at 6.64%. Current Repo Rate of RBI is 4.00%. The Bank adds a mark up on RBI’s repo rate which is called HSBC Bank Repo Rate Linked Lending Rate (RLLR). RLLR can change with change in Repo Rate. An additional spread is applied on RLLR which remains the same throughout the tenure. Bank applies a premium of 2.64% to the Repo Rate to arrive at this rate.
  • When RBI increases rates, the bank may increase its Repo Rate linked Home Loan rates by the same basis points for all existing and new Home Loans. When RBI cuts interest rates, the HSBC Home Loan interest rates will reduce the interest rates by the same basis points, which will be effective from the 1st day of the following month.
  • For instance, if RBI slashes Repo Rate by 0.15%, then HSBC Bank Repo Rate linked Home Loan rate will cut from 6.64% to 6.49%.

What is the current HSBC Bank Home Loan rate?

The current HSBC Home Loan rate starts from 6.64% with a processing fee of Upto 1.00%, and Maximum ₹ 10,000.HSBC housing loan rate varies across the applicant’s eligibility and the scheme they opt for. HSBC offers different home loan rates for different home loan products.

Can HSBC Bank housing loan interest rate be negotiated?

Yes, if you have a good relationship with the bank and a high credit score, you can negotiate with HSBC to lower the home loan rates.

What are the interest rates of home improvement loans in HSBC?

You can avail of HSBC home loans for home improvement at regular home loan rates starting at 6.65%.

Can HSBC revise the home loan interest rates for their existing customers?

HSBC home loan rates change for the existing customers if they have availed home loans at a floating rate of interest. The floating interest rates on home loans vary as per the change in market trends or in external benchmark rates such as the repo rate.

Does HSBC offer a concessional home loan interest rate for women?

Yes, HSBC offers special home loan interest rates for women. As against HSBC home loan rates for male which is 6.64%, the home loan interest rate for women starts at %.

What is the HSBC home loan rate of ₹ 25 Lakh for 15 years?

HSBC home loan varies as per the loan amount. For home loan upto ₹ 25 Lakh, HSBC provides home loan interest rate starting at 6.65%.

At what interest rate does an HSBC employee get a home loan?

HSBC offers concessional home loan rates of about 1% than the current home loan rates to HSBC employees.

Is HSBC Bank home loan a floating rate loan or fixed-rate loan?

HSBC home loan is offered at both fixed and floating rate. In the case of the fixed rate, the interest remains the same whereas in the case of the floating rate the home loan rates keep varying according to the market.


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HSBC Home Loan News - Jul 2021
  • 2021-01-15 : HDFC Bank revised its home loan rates
    HDFC banks revised its home loan rates. The lowest home loan for customers above the CIBIL score of 750 is 6.80%.
  • 2019-07-03 : HSBC lowers MCLR rates by 5 basis points
    HSBC has cut its Marginal Cost of Funds Based Lending Rate (MCLR) by 5 basis points. The move is supposed to make customer loans like home loans and mortgage loans cheaper. For six-months and one-year tenure, the rate has been revised to 8.70% and 8.75% from the earlier rate of 8.75% and 8.80% respectively while the rate for other loan tenure has remained unchanged.
  • 2019-04-03 : HSBC Bank reduces MCLR rates by 10 basis points
    HSBC Bank has revised its Marginal Cost of Funds Based Lending Rate (MCLR) by 10 basis points across all tenors for the month of April. The move is supposed to make home loans, auto loans and mortgage loans cheaper. Now for 6 months, the MCLR stands at 8.75% as compared to 8.85% earlier while for 3 months, the rate has been revised to 8.50% from 8.60% respectively. The revised rates are effective from April 1, 2019.
  • 2018-07-01 : HSBC Bank revises MCLR
    HSBC Bank has revised its MCLR for the month of July. The new rates stand in the range of 8.05% and 8.60%. Six month MCLR is 8.50% and that of one year is 8.60%. The new rates are effective from July 1, 2018.
  • 2018-05-07 : HSBC hikes MCLR by up to 20bps
    HSBC has raised its MCLR by upto 20 basis points. Six month MCLR is now at 8.60% and that of one year is also 8.60%. The new rates will be effective from May 1, 2018.
*Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
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