HSBC Home Loan Interest Rate Calculator - Mar 2017

HSBC Bank Home Loan Interest Rates

Last Updated 24th Mar 2017
Interest Rate 8.85% - 8.85%
Check Special Offer
Lowest EMI Rs. 829 per lakh
Max Tenure 25 years
Processing Fee Upto 1.00%
Prepayment, Foreclosure Charges Allowed with nil charges for floating rate loans
Age Min 21 and Max 60 years for Salaried
Min 21 and Max 65 years for Self Employed
Apply Home Loan Online @8.50%*
 Salaried   Self Employed - Professional   Self Employed - Business 

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HSBC Bank Home Loan

HSBC Bank offers home loan to the people who want money to purchase a house, home renovation and home extension etc. The house itself acts as a security to the loan.

Home Loan HSBC

Home loan interest rates offered by HSBC Bank depends upon MCLR.
  • Floating rates changes with a single change in MCLR rate in your loan tenure. You should go for floating rates if you can take the risk of hike in interest rates.
HSBC Bank offers home loan based on 1 Year MCLR rates which is currently 8.00%.
HSBC Bank home loan interest rate depends upon
  • Loan amount: Home loan rate in HSBC Bank depends upon the loan amount you apply for. Higher the loan amount, lesser will be the interest rate
  • Company where you work: HSBC Bank has a list of companies to which they lend Home loan. Interest rate will be less if your company is listed
  • Your Salary: Income helps you in identifying your rate of interest. HSBC Bank interest rate varies with your monthly income. Higher the income, less will the rate of interest

Home Loan Charges

  • Foreclosure Charges - These charges are to be paid in case you want to repay your entire loan amount before the end of tenure period. HSBC Bank allows prepayment of home loan with Nil prepayment charges
  • Processing Fee - HSBC Bank asks for a processing fee of 1.00% of loan amount with applicable service tax

HSBC Home Loan EMI Calculator

    Home Loan EMI of HSBC Bank is a fixed amount that you pay each month towards the repayment of your home loan till the end of tenure
  • Home Loan EMI calculator of HSBC Bank helps you to calculate your monthly EMI at different rate of interest and also check lowest EMI per lakh on home loan.
  • You can plan your loan amount according to your monthly repayment capacity because higher the loan amount, higher will be the EMI
  • Rate of interest is an important factor which affects your EMI. Higher the interest rate, higher will be the EMI
  • Loan tenure matters equally as higher tenure reduces your EMI
What are the benefits of calculating HSBC Bank Home Loan EMI?
  • EMI calculator of HSBC Bank helps you to calculate your monthly EMI at different rate of interest
  • HSBC Bank Housing Loan EMI calculator helps you to know your capacity to repay the loan after maintaining your standard of living
  • You get a rough idea about your monthly EMI and can plan your monthly budget accordingly

HSBC Home Loan Eligibility Calculator

Home Loan eligibility criteria HSBC Bank
Eligibility of House loan in HSBC Bank relies upon different factors but the most important factor is your ability to repay the loan. The main factors on which the eligibility of an applicant depends are
  • Age: Age plays an important role to know your eligibility and repayment capacity. HSBC Bank offers Home loan to salaried at the age of 21 to 60 years and self employed individuals at 21 to 65 years
  • Income: In case of salaried person, HSBC Bank Loan eligibility significantly depends upon the income. Usually bank set minimum levels of income to apply for house loan. HSBC Bank asks for net monthly income of minimum 40,000. Salaried employee should be in government job or working with a reputed private company and getting regular salary in bank account with salary slip, form 16
  • Job stability and Profession: Job stability is important to improve your status and eligibility for Home loan from HSBC Bank. Minimum turnover and minimum net income criteria may apply. Business must be registered with at least one government agency such as service tax, VAT, excise, shops and establishment registrar. Other than job stability, profession is also an important factor which can affect your HSBC Bank eligibility. If you are working with a reputed company, probability of getting home loan from HSBC Bank increases as the income is considered to be more stable
  • CIBIL Score: Your past CIBIL history and repayment record of existing loans and credit cards has direct impact on your Home loan eligibility. If you have a poor repayment record, then you may not get the loan but on the other side, a regular repayment record increases your Home loan eligibility
  • Loan Amount: HSBC Bank gives you Home loan depending upon your income. HSBC Bank gives you an amount ranging from Rs. 300,000 to Rs. 100,000,000. To improve chances of approval, apply for a loan amount that you can comfortably service
  • Estimated eligibility online by using Eligibility Calculator.

    HSBC Bank Floating Rate Home Loans

    HSBC Bank Home Loan Floating
    Upto Rs. 2,500,000 - 8.85%
    Rs. 2,500,001 - 7,500,000 - 8.85%
    Rs. 7,500,001 - 20,000,000 - 8.85%
    Above Rs. 20,000,000 - 8.85% linked to 1 Year MCLR

    HSBC Bank Home Loan Top up, Transfer

    Transfer of Home Loan from another bank to HSBC Bank?
    HSBC Bank offers home loan balance transfer from another bank. This is subject to your meeting other eligibility criteria of HSBC Bank
    You can avail additional top-up home loan from HSBC Bank, subject to your eligibility

    Housing Loan HSBC documents required

    Home Loan for Salaried employee HSBC Bank documents required

    • Filled up loan application form
    • 2 Passport Size Photo
    • Identity Proof - Passport/ Driving Licence/ Voter ID/ PAN
    • Residential Address Proof - Leave and License/ Registered Rent Agreement/ Utility Bill (upto 3 months old), Passport
    • Income Documents – 6 months payslip, 2 years Form 16, 6 months bank statement showing salary credit and any EMI debit

    Home Loan for Self-Employed HSBC Bank documents required

    • Filled up loan application form
    • 2 Passport Size Photo
    • Identity Proof - Passport/ Driving License/ Voter ID/ PAN
    • ITR of last 2 years
    • Residential Address Proof - Leave and License/ Registered Rent Agreement/ Utility Bill (upto 3 months old), Passport
    • Business proof such as VAT/ service tax registration, incorporation details in case of companies, business address proof, profit and loss account and balance sheets certified by CA, copy of partnership deed and proof of business existence and business profile

    Frequently Asked Questions

    Why to take home loan from HSBC Bank?
    HSBC Bank offers home loan at lower rate of interest i.e. at 8.85% with the lowest EMI of Rs. 829 per lakh. If you are paying EMI more than this then you can opt for balance transfer and relocate your home loan to HSBC Bank.
    What is the maximum loan tenure I can opt under HSBC Bank house loan?
    HSBC Bank offers you a longer tenure of 25 years to repay your home loan with a benefit of paying less EMI per month.
    Do I get tax benefit on home loan from HSBC Bank?
    As per Indian Income Tax Act of 1961, residents of India are eligible for tax benefits on principal amount and interest components of a home loan under the section 24 and section 80C of Income Tax Act.
    Can I foreclosure my home loan? What are the charges applicable?
    Yes, you can foreclose your home loan with Nil charges.
    Can I transfer my home loan from another bank to HSBC Bank?
    Yes, HSBC Bank gives you the facility to transfer your existing home loan with a hassle free process. Home loan balance transfer to HSBC Bank offers you to pay lower EMIs and save money.
    Can I club the income of my spouse with mine and apply for joint home loan?
    You can club the income of your spouse to increase your loan eligibility if the spouse is co-owner of the property or guarantor of the loan.
    What is the benchmark applicable for home loan in HSBC Bank?
    The benchmark applicable for home loan in HSBC Bank is 1 Year MCLR.
    What is the effect of part payments on HSBC Bank housing loan EMI ?
    Part payments help you in reducing the outstanding amount of loan which in turn will reduce the interest amount due. After making part payments, paying the same EMI will increase your involvement towards the principal amount which will help you in repaying the loan faster.
    How to increase my eligibility on HSBC Bank housing loan?
    If your spouse or family member is earning well, you can make your spouse or family member the co-applicant for your loan. The combination of both of your income will help you in increasing your eligibility to get loan.
    How will interest rate on HSBC Bank housing loan change in future?
    • Floating interest rate on HSBC Bank housing loan is linked to its 1 Year MCLR Rate, which is currently at 8.00%. So, when HSBC Bank offers a home loan at 8.85%, it applies a premium of 0.85% to its MCLR Rate to arrive at this home loan interest rate.
    • When RBI increases interest rates, the bank may increase its MCLR rate and the applicable interest rate for all existing and new home loans would increase. When RBI cuts interest rates and the bank reduces the MCLR rate, the benefit of lower rates will have to be passed to both old borrowers and new house loan accounts.

    HSBC Bank Home Loan in India

    HSBC Bank Home Loan Customer Care Number, Email, Application Status, Branches

    City Customer Care Number
    Agra 1800-103-4722
    Ahmedabad 1800-103-4722
    Ambala 1800-103-4722
    Anand 1800-103-4722
    Aurangabad 1800-103-4722
    Bangalore 1800-103-4722
    Bhilai 1800-103-4722
    Bhilwara 1800-103-4722
    Bhiwadi 1800-103-4722
    Bhopal 1800-103-4722
    Bhubaneswar Cuttack 1800-103-4722
    Bikaner 1800-103-4722
    Chandigarh 1800-103-4722
    Chennai 1800-103-4722
    Cochin 1800-103-4722
    Coimbatore 1800-103-4722
    Dehradun 1800-103-4722
    Delhi 9910797373
    Durg 1800-103-4722
    Faridabad 1800-103-4722
    Gandhinagar 1800-103-4722
    Ghaziabad 1800-103-4722
    Goa 1800-103-4722
    Greater Noida 9910797373
    Gurgaon 1800-103-4722
    Guwahati 1800-103-4722
    Gwalior 1800-103-4722
    Hyderabad 1800-103-4722
    Indore 1800-103-4722
    Jabalpur 1800-103-4722
    Jaipur 1800-103-4722
    Jalandhar 1800-103-4722
    Jodhpur 1800-103-4722
    Kanpur 9860107373
    Karnal 1800-103-4722
    Kolhapur 1800-103-4722
    Kolkata 1800-103-4722
    Kota 1800-103-4722
    Kozhikode 1800-103-4722
    Madurai 1800-103-4722
    Meerut 1800-103-4722
    Mehsana 1800-103-4722
    Mohali Sas Nagar 1800-103-4722
    Mumbai 9860107373
    Mussoorie 1800-103-4722
    Nagpur 9860107373
    Nashik 9860107373
    Noida 9910797373
    Noida Extn. 9910797373
    Panipat 1800-103-4722
    Pondicherry 1800-103-4722
    Pune 9860107373
    Raipur 9893277373
    Rajkot 1800-103-4722
    Ranchi 1800-103-4722
    Rohtak 1800-103-4722
    Roorkee 1800-103-4722
    Salem 1800-103-4722
    Shimla 1800-103-4722
    Sonepat 1800-103-4722
    Surat 9898377373
    Trichy 1800-103-4722
    Udaipur 1800-103-4722
    Vadodara 9898377373
    Varanasi 1800-103-4722
    Vijaywada 1800-103-4722
    Vizag 1800-103-4722
HSBC Home Loan Interest Rate News - Mar 2017
18th Mar 17 Citibank India cuts processing fees to zero
Citibank India decision to introduce zero processing fees has brought in good news for borrowers. The bank has revised its loan processing fees to nil from 0.50 percent earlier for its home loan and loan against property borrowers. Loan segments including home loan and loan against property.
18th Mar 17 Home loan revives post demonetization
Real estate developers are hopeful to see an increase in the purchase of new house units post demonetization as the banks are flushed with funds and likely to push home loans aggressively. According to a senior ICCI Bank representative, the bank has witnessed a healthy growth in home loan queries after demonetization. Real Estate experts expect the housing sector in India to witness a strong growth in FY18.
18th Mar 17 Axis Bank kept its MCLR for March 2017 unchanged
Axis Bank has kept its marginal cost of lending rate unchanged for the month of March 2017. The bank has kept its overnight and six month MCLR unchanged at 7.90 and 8.15 percent respectively. Similarly, Axis Bank did not change its one year MCLR that stands at 8.25 percent. With the unchanged MCLR, interest rate for home loans continues to be at 8.65 percent.
18th Mar 17 Bad loans of Indian banks rise to Rs. 9.64 trillion
Banking industry is getting increasingly burdened with the rising quantum of bad loans. As per statistics released by Finance Ministry, stressed loans of Indian banks have reached Rs. 9.64 trillion during December, 2016 as compared to Rs. 8.97 trillion in September, 2016.
17th Mar 17 SBI Chief says the merger with associate banks may lead to small rise in costs
Chairman of State Bank of India has stated that the merger of SBI with its associate banks may lead to marginal increase in the costs for the bank, especially till the third quarter of FY18. Post merger, the bank expects to report higher growth in its business across all loan segments including home loan and personal loans.
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