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HSBC Loan Against Property

HSBC Bank Mortgage Loan Interest Rates 2021

Last Updated 12th Nov 2021

HSBC Bank is one of the largest Foreign Bank in the country that offers the lowest rates on loan against property. Currently, the bank offers loans starting from 9.80% with quick approval and online process. The bank offers special features and attractive rates for different income and occupation groups. Some of the key features of HSBC Bank Loan against property are mentioned below: Check Best Offers

Processing Fee Upto 1.00%
Max Tenure 15 years
Lowest EMI ₹ 1,062 per lakh
Prepayment, Foreclosure Charges Allowed with nil charges for floating rate loans to individuals
Age Min 21 and Max 58 years for Salaried
Min 21 and Max 65 years for Self Employed
    Apply for Loan Against Property @ 6.90%* Get upto ₹ 1,000* Cashback

    HSBC Bank Loan Against Property Fees and Other Charges

    Along with HSBC Loan against Property Rates, HSBC also charges various fees and charges when a borrower takes a loan against property:-

    • Processing Fee on HSBC LAP Loan is 0.75%. This fee is charged by HSBC to maintain the applicant’s loan account and to process the loan application.
    • Advocate's fee for property search and title investigation report.
    • Valuer's fee for valuation report.
    • Stamp duty payable for Loan agreement and mortgage.
    • Property insurance premium.
    • CERSAI Registration Fee of ₹ 50 + GST up to ₹ 5 Lakh limit and ₹ 100 + GST for limits above ₹ 5 Lakh.

    Loan Against Property Interest Rates in HSBC Bank for Salaried Employees

    The mortgage loan interest rates in HSBC Bank for salaried employee are listed in the table:-

    Interest Rate for Salaried for Residential Property

    Loan Amount Rate
    Upto ₹ 25 Lakh 9.80%
    ₹ 25 Lakh - ₹ 75 Lakh 9.80%
    ₹ 75 Lakh - ₹ 3 Cr 9.80%
    Above ₹ 3 Cr 9.80%

    Interest Rate for Salaried for Commercial Property

    Loan Amount Rate
    Upto ₹ 25 Lakh 9.80%
    ₹ 25 Lakh - ₹ 75 Lakh 9.80%
    ₹ 75 Lakh - ₹ 3 Cr 9.80%
    Above ₹ 3 Cr 9.80%

    HSBC Bank Property Loan Interest Rate for Business Man or Self Employed Person

    The interest rate for mortgage loans for Self-employed people are listed in the table:

    Interest Rate for Self-Employed for Residential Property

    Loan Amount Rate
    Upto ₹ 25 Lakh 9.80%
    ₹ 25 Lakh - ₹ 75 Lakh 9.80%
    ₹ 75 Lakh - ₹ 3 Cr 9.80%
    Above ₹ 3 Cr 9.80%

    Interest Rate for Self-employed for Commercial Property

    Loan Amount Rate
    Upto ₹ 25 Lakh 9.80%
    ₹ 25 Lakh - ₹ 75 Lakh 9.80%
    ₹ 75 Lakh - ₹ 3 Cr 9.80%
    Above ₹ 3 Cr 9.80%

    Steps to Apply for HSBC Bank Loan Against Property

    You can apply for HSBC Bank Loan against property through online as well as offline modes. To apply for a loan through offline mode, you need to visit the official HSBC Bank bank branch and fill the application form along with the required documents for loan against property. The bank will then complete the verification process and will sanction the loan on loan approval. Once the loan is approved, you will receive the amount in your bank account.

    To apply online for HSBC Bank Loan against Property online, you need to follow these steps:-

    • Visit the official website of HSBC Bank and navigate to Loan Against Property.
    • Before applying, now check your eligibility for HSBC Bank Loan against Property.
    • Check various details about the loan, such as interest rates and other charges.
    • If you are satisfied and have cross verified all the details, fill the application form and upload the required documents.
    • On successful verification, the bank will sanction the loan amount in 10-15 days.

    Apart from that, you can also visit online marketplaces like MyLoanCare to apply for a HSBC Loan against property. Here, you can compare offers HSBC with other top banks and can use the EMI and Eligibility calculators to plan your expenses and loan repayments. HSBC Loan against property application process at MyLoanCare is hassle-free and transparent.

    Compare HSBC Bank Loan Against Property Interest Rate with Top Banks

    HSBC Bank offers multiple schemes for loan against property at affordable interest rates. However, you must compare SBI and other bank’s home loan rates before applying:-

    Particulars HSBC Bank SBI HDFC
    Interest Rate 9.80% - 9.80% 8.80% - 13.10% 8.75% - 9.90%
    Processing Fees Upto 1.00%
    Min ₹ 10,000
    Upto 1.00%
    Max ₹ 50,000
    Upto 0.75%
    Loan Tenure 15 Years 10 Years 15 Years
    Maximum Loan Amount ₹ 10 Cr ₹ 7.50 Cr ₹ 5 Cr
    Age Min 21 and Max 65 years Min 18 and Max 70 years Min 24 and Max 65 years
    Benchmark Rate RLLR RLLR PLR
    Lowest EMI Per Lakh ₹ 1,062 per lakh ₹ 1,256 per lakh ₹ 999 per lakh
    HSBC Bank Floating Rate on Loan Against Property

    As on 04 Dec, 2021, HSBC offers the lowest rate starting at 9.80%. HSBC Loan against property rates have been hiked by 0.1%, from the earlier rate of 9.70% with effect from 01 Apr, 2021.

    HSBC Bank Mortgage Loan Interest Rates
    HSBC Bank Loan Against Property Floating 9.80%
    HSBC Bank Loan Against Property Floating
    Loan AmountCurrent LAP Rates
    Upto ₹ 25 Lakh 9.80%
    ₹ 25 Lakh - ₹ 75 Lakh9.80%
    ₹ 75 Lakh - ₹ 3 Cr9.80%
    Above ₹ 3 Cr 9.80%

    HSBC Loan Against Property Rate Trends of Last 1 Year

    Last Updated Date Interest Rates
    01 Apr, 2021 9.80%
    31 Mar, 2021 9.80%

    Factors Affecting HSBC Loan against Property Interest Rates

    Some of the factors that impact HSBC Loan Against Property rates are listed as follows:

    • Loan amount: Property loan rates in HSBC depend upon the loan amount you apply. You can get a minimum loan of ₹ 3 Lakh from HSBC.
    • Your Net Monthly Income: Income helps you in identifying your rate of interest. Higher the income, higher will be your repayment capacity increasing your eligibility for higher loan amount.
    • Type of loan opted for: HSBC offers differential rates for customers different profiles and also fixed and floating rate schemes. Loan against property interest rates may be higher or lower for special loan products.
    • Type of property: Typically, loans against prime residential properties are easier to get and can be availed at the lowest rates compared to loans against commercial and industry properties.
    • Your profession: HSBC may charge a higher interest rate on a mortgage loan to a salaried person than a self-employed professional or a businessman. A self employed professional or businessman is expected to deploy loan proceeds for productive purposes in his occupation or business compared to salaried people who will most likely take a mortgage loan for his personal purposes.

    HSBC Loan Against Property Eligibility Criteria

    HSBC has detailed criteria to determine a potential borrower’s eligibility for mortgage loans. Some of the key criteria are:

    Eligibility Criteria Details
    Age 21 to 58 years
    Minimum Income ₹ 40,000
    Loan Amount ₹ 3 Lakh to ₹ 0 Cr
    Minimum years of business existence 2 years
    Minimum work experience 2 years
    Minimum Credit Score 650 and above
    Loan to Value Ratio Upto 50%
    FOIR (Fixed Obligations to Income Ratio) 0.65

    HSBC Bank Mortgage Loan Interest Rate and EMI Calculator

    You can also use an online HSBC Bank Loan against property EMI Calculator to calculate loan EMIs. EMI is a fixed amount that you are required to pay each month towards the repayment of your loan till the end of tenure

    • The HSBC Bank Mortgage Loan EMI calculator helps you calculate your monthly EMI at different rates of interest and check and compare the lowest EMI per lakh on LAP.
    • You can compare the estimated EMI with your monthly repayment capacity to decide on a level of EMI you can comfortably service without creating financial burden.
    • Loan tenure matters equally as higher loan tenure reduces your EMI.
    • Another factor that affects your EMI is the loan against property interest rate. Higher the interest rate, higher will be the EMI. However, your cumulative interest outgo will be significantly higher in a longer tenure loan than a short tenure loan. Loan against property interest rate comparison of different banks will allow you to choose the cheapest loan and hence, improve your eligibility.
    Loan Against Property Top up, Transfer in HSBC Bank

    HSBC Bank offers mortgage loan balance transfer from another bank, subject to your meeting other eligibility criteria of HSBC Bank at an affordable interest rate, higher loan amount and convenient loan tenure. HSBC Bank loan against property balance transfer helps you make your loan repayment convenient and opt for a beer customer service. Current loan against property balance transfer rates in HSBC Bank are 9.80%. Along with that, you can also avail of additional top-up on your loan against property.

    Loan Against Property HSBC Bank Products

    HSBC Bank offers customized products for specific customer segments designed to meet their loan requirements. Some of the popular products with their basic features are as follows:

    Residential Property Mortgage Loan

    • HSBC residential property mortgage loan allows availing a minimum sum of Rs 3 lakhs, while a maximum of Rs 10 crores can be borrowed. The repayment tenure can extend up to 20 years; however, in the case of salaried individuals, it is 25 years.
      • The minimum net income of salaried applicants should be Rs 5 lakhs, whereas for self-employed individuals it should be Rs 7.5 lakhs.
      • Both salaried and self-employed individuals can avail this loan.

      HSBC Bank Loan Against Property Documents Required

      For Self-Employed

      • Filled up loan application form
      • 2 Passport Size Photo
      • ITR of last 2 years
      • Identity Proof - Passport/ Driving License/ Voter ID/ PAN
      • Residential Address Proof - Leave and License/ Registered Rent Agreement/ Utility Bill (up to 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
      For Salaried employee
      • Filled up loan application form
      • 2 Passport Size Photo
      • ITR of last 2 years
      • Identity Proof - Passport/ Driving License/ Voter ID/ PAN
      • Residential Address Proof - Leave and License/ Registered Rent Agreement/ Utility Bill (up to 3 months old), Passport
      • Income Documents – 6 months payslip, 2 years Form 16, 6 months bank statement showing salary credit and any EMI debit
      Property documents
      • Registered Sale Deed/ Conveyance/ Lease Deed
      • Past Sale Deeds Chain (each transaction in respect of this property since first allotment
      • Latest House Tax Return/ Receipt
      • Approved Building Plan from Municipal Corporation

      FAQs

      What is HSBC Banks loan against property interest rate?

      HSBC Bank offers loan against property at a rate of 9.80% with the lowest EMI of ₹ 1,062. If you are currently paying a higher interest rate than HSBC Bank rate, you can opt for a balance transfer of loan to HSBC Bank.

      Did HSBC Bank Loan against property rates drop?

      No, HSBC Bank lowest rates on loan against property have been increased from 01 Apr, 2021. The new rates have been hiked to 9.80% from 9.70% earlier.

      How to increase my eligibility on HSBC Bank Mortgage 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 a loan.

      Can I foreclose my Mortgage loan? What are the charges applicable?

      Yes, you can foreclose your HSBC Bank loan against property anytime you want with Nil foreclosure charges.

      What is the maximum loan tenure I can opt under HSBC Bank Property loan?

      HSBC Bank offers a maximum tenure of 15 years to repay your loan.You can choose the tenure for your LAP loan as per your convenience and repayment ability.

      What is the benchmark rate applicable for Mortgage loan?

      The benchmark rate applicable for property loans in HSBC Bank is RLLR

      Can I transfer my LAP from another bank to HSBC Bank?

      Yes, Bank gives you the facility to transfer your existing loan with a hassle free process. Loan balance transfer to HSBC Bank offers you to pay lower EMIs and save money and enables you to choose better customer service, if you are not satisfied with your existing bank. Current Balance transfer rates in HSBC Bank are 9.80%.

      What is HSBC Bank mortgage loan processing fees?

      The loan processing fee charged is 1.00% of the total loan amount.

      What security do I need to provide for HSBC Bank Mortgage Loan?

      HSBC Bank requires a registered mortgage of the property against which the bank will provide you a loan.

      • Property on which you intend to take loan is not vacant land, has an approved map plan and is in a municipal area. You must attach the entire chain of title documents of the property and its approved building plan with the loan application.
      • Your total EMIs on all loans and credit cards (from HSBC Bank and other banks) are no more than 60 - 70% of your net monthly income.
      • You have not defaulted on loans or credit card dues to HSBC Bank and other banks and all EMI's have been paid. Note that HSBC Bank can see the record or status of your EMI defaults to all banks and NBFC’s in India and not just to HSBC Bank in your CIBIL report. Estimate your CIBIL score for free for free by using CIBIL score estimate calculator
      • If you are salaried, ensure that you attach your recent salary slips, bank statements and last 3 years' Form 16 with the loan application
      • If you are self employed, your business must have been in existence for at least three years and last three income tax returns with audited financial must be available

      Are prepayment or foreclosure charges applicable on HSBC Bank loan against property?

      You can prepay loan against property (LAP) without any penalty or charges in case:

      • Your loan is at a floating rate of interest and not at a fixed rate. Almost all loans against property are at floating rates and it is unlikely that yours is at a fixed rate of interest
      • The loan is in the name of one or more individual borrowers and none of the applicants and co-applicants is a business entity like a company or a firm or partnership or AOP

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      HSBC Loan Against Property News - Dec 2021
      • 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.
      • 2017-10-23 : Jayant Rikhye to be HSBC India CEO
        Hongkong and Shanghai Banking Corp (HSBC) has appointed Jayant Rikhye as India CEO effective from December 1. Currently the group general manager, head of strategy and planning and regional head for the bank in 11 markets in Asia Pacific, Rikhiye will be the first Indian in 8 years to be promoted as the CEO at HSBC.
      *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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