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Personal Loans

HSBC Personal Loan Review

Editorial Rating

Editorial Rating

What we like:

HSBC makes funding available very quickly so you can get access to fast cash when you need it

Rates (APR) Starting as low as 6.99%
Loan Terms24 – 60 months
Loan Amounts$3,000 to $50,000
See how HSBC’s personal loan product stacks up with other options

Personal loans can be used for nearly any purpose, making them flexible and popular loan. Many people use them for debt consolidation, home improvements, or to finance big purchases without the high interest rates that most credit cards charge.

HSBC is a major international bank offering a wide variety of financial products including bank accounts, credit cards, and investment services. It began offering personal loans jointly with Avant in 2019.

This review will tell you everything you need to know about HSBC Personal Loans, so you can decide if they’re the right option for you.

In this review: 

By the numbers: HSBC Personal Loans

New HSBC customersExisting HSBC customers
Starting rates6.99%6.99%
Loan amounts$3,000$30,000$3,000$50,000
Loan terms24 – 60 months24 – 60 months
Prepayment fee$0$0
Origination fee$0$0
Annual fee$0$0

Pros & cons of HSBC Personal Loans


  • Funding is fast—get your money as soon as the next business day.

  • Current HSBC customers can qualify for larger loans and lower interest rates.

  • You can complete the application process online and quickly find your rates and terms. (Current HSBC customers must apply at a branch.)

  • No annual fees, no origination fees, and no payment due within the first 50 days of opening your account.


  • Loan amounts start at $3,000, while some other lenders allow you to borrow less.

  • If you’re not an HSBC customer, you’re limited to borrowing $30,000, which may not be enough for some. Many competitors offer larger loan amounts.

  • Interest rates are competitive, but some online-only lenders offer lower starting rates.

Eligibility & application: How to get an HSBC loan

New customers can apply for an HSBC loan quote online in a matter of minutes—without impacting their credit score. If you decide to go through with the loan application, you can complete the entire process online. Existing customers, however, are prompted to apply at a local HSBC branch.

HSBC does not disclose its minimum credit score or income requirements, but borrowers must be at least 18-years old to qualify. After getting approved, you may be able to receive funding as soon as the next business day.

The timeline for receiving funds varies depending on whether you are an existing or new HSBC customer and depending on how quickly you can provide the requested financial information. As soon as your loan is approved, the money will be deposited into your account.

Other info you need to apply

In order to apply for a personal loan with HSBC, there is some basic information that you may need to provide. This includes:

  • Proof of a U.S. residential address
  • Proof of income
  • For new HSBC customers, a bank statement from an active checking, savings, or certificate of deposit account with any U.S. financial institution.

Not satisfied?

While an HSBC Personal Loan can be an ideal choice for existing HSBC customers, it isn’t the right option for everyone.

You should always compare quotes from several of the best personal loan lenders to ensure you’re getting a good deal.