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| Welcome to HSBC Bank Home Loans |
HSBC Home Loans make it easier for you to move in as soon as possible without putting a strain on your wallet. Your dream home is closer than you think. Apply for a home loan today.
Home Loan Features & Benefits
Your dream home, a reality
Loan requirement -
We offer you loans ranging from Rs. 5 lakhs upto Rs. 3 crore.
Property types -
We offer loans to Resident Indians and NRIs for ready property, under construction property, self-construction and home improvement.
Loan tenure -
Loans are available for tenures upto 25 years.
Flexibility, savings... more!
Home Loan repayment options -
Choose between fixed and floating rate home loans. You also have the option of switching from a floating rate home loan to a fixed rate home loan once a year at no extra cost.
No penalty option -
You can opt to pre-pay up to 25% of your loan every year. Pre-payment is permitted after a minimum of 6 months following loan disbursal.
Free Gold credit card -
On approval of your Home Loan, you get a Gold credit card, free for the first year with annual charges being waived.
Tax benefits -
Resident Indians are eligible for certain tax benefits on principal and interest components of a housing loan under the Income Tax Act, 1961.
INR 500,000 to INR 20,000,000 for Mumbai and New Delhi Applicants only. INR 200,000 to INR 10,000,000 for applicants from other cities. INR 30,000,000 for HSBC Premier customers in Mumbai and New Delhi
Switching between fixed and floating tenors can be done once a year. Switching between a fixed rate home loan to a floating rate home loan is possible only after having completed the period for which the fixed rate was chosen.
Terms and conditions apply for issuance of credit card.
Please consult your tax advisor/C.A. for specific details.
To qualify for a HSBC Home Loan, the following criteria apply
| a. |
Net Income (Rs.) |
150,000 |
| b. |
Minimum Age (in years) |
21 |
| c. |
Maximum Age (in years) |
58 (salaried)
60 (Public limited/Government Employees)
65 (self employed) |
| d. |
Minimum Loan Amount (Rs.) |
500,000 |
| e. |
Maximum Loan Amount (Rs.) |
30,000,000* |
| f. |
Maximum Tenor (in years) |
25** |
Note:
Available to both Residents as well as NRIs. NRI Applicants must have a local co-applicant or a local Power of Attorney holder. All joint owners of the property would necessarily have to be co-applicants and would need to sign all loan documents.
The interest rate on your floating rate Home loan is linked to HSBC’s Retail Lending Rate (RLR) and any revision in the RLR would impact your interest rate. The RLR is currently 13.75%.
Rs. 20,000,000 for Mumbai and New Delhi applicants, Rs. 10,000,000 for applicants from other cities and Rs. 30,000,000 for Premier customers in Mumbai and New Delhi.
For Resident Indian/NRI professionals, the maximum tenor is 20 years. For self employed resident Indians and NRIs, the maximum tenor is 15 years.
Terms and conditions apply. All loans at the sole discretion of The Hongkong and Shanghai Banking Corporation Limited, India. Loans available for applicants and properties in and around the limits of cities where HSBC has branches and is subject to change from time to time.
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