
One of the best personal loans in Singapore you should watch is the HSBC Personal Loan. It is perfect for those who like to take up a larger loan with a more extended repayment period.
FAST FACTS
✔ 1-minute in-principle approval for HSBC customer
✔ 3 to 5 working days loan approval for non-customers
✔ 3 to 5 business days of cash disbursement
✔ Low-interest rates of 4% p.a. onwards
✔ Longest loan tenure in Singapore
HSBC Personal Loan Singapore

HSBC Personal Loan offers one of the lowest interest rates of 4% (EIR 7.5% p.a.) and the longest loan tenure of up to seven years. The long-tenure advantage is only accessible to Singaporean Citizens and Permanent Residents.
Foreigners in Singapore must assess their existing employment pass validity and round it down to the nearest year.
Nonetheless, HSBC’s loan is an incredible option for individuals seeking significant loan amounts with a more-extended loan term.
Details | Singaporeans/PRs | Foreigners |
Interest Rate | 4% p.a. | 4% p.a. |
EIR | 7.5% p.a. | 7.5% p.a. |
Maximum Loan Amount | 8x of monthly salary Up to S$200,000 | 4x your monthly salary Up to S$100,000 |
Minimum Annual Income | S$30,000 | S$40,000 |
Loan Tenure | 1 to 7 years | Remaining employment pass validity period |
Other Charges
- Processing Fee: S$0
- Late Payment Charge: S$75
- Early Repayment Penalty: 2.5% of the redemption amount
- Total Repayment Penalty: 2.5% of the redemption amount
Who is eligible for an HSBC personal loan in Singapore?

HSBC personal loans are made available for both Singaporean and Permanent Residents. To secure your spot as a qualified candidate, ensure you’re within the eligible age range of 21 to 65 and boast an annual income of S$30,000.
However, if you’re a self-employed or commission-based professional, the requirements shift upward, with an annual earning requirement of S$40,000.
- Age: 21 to 65 years old
- Minimum yearly salary: S$30,000
- Employment status: Salaried Employee, Commission-based Employee, or Self-Employed
Can a foreigner get a personal loan from HSBC in Singapore?

Yes, foreigners residing in Singapore can apply for a personal loan. To be eligible, you must be 21 years and above and earn a yearly income of S$40,000. Also, it would help if you had an employment pass with 1-year validity.
- Age: 21 and above
- Pass Type: Employment Pass (1-year validity)
- Employment Status: The loan tenure is capped according to the remaining employment pass validity period and rounded down upon the nearest whole year.
- Minimum yearly salary: S$40,000
How much money can I borrow with HSBC personal loans?
Here are tables for Singaporeans, PRs, and foreigners that provide information on how much you can borrow based on your yearly income.
Singaporeans & PRs
Income Requirement | S$30,000 / S$40,000 (self-employed/commission-based employee) | S$120,000 |
Minimum Loan Amount | S$1,000 | S$1,000 |
Maximum Loan Amount | 4x monthly income | 8x monthly income; cap at S$200,000 |
Foreigners
Income Requirement | S$40,000 | S$120,000 |
Minimum Loan Amount | S$5,000 | S$5,000 |
Maximum Loan Amount | 4x monthly income; cap at S$100,000 | Amount HSBC may hold at the discretion |
How to apply for an HSBC Personal Loan in Singapore?
You can easily apply for an HSBC Personal Loan through the bank’s official website. They provide an online application form you must complete, including your personal, employment, and financial information.
The completion of specific documentation is mandatory for the application process, thus necessitating the preparation of the following materials:
- NRIC or Passport
- CPF Statement & Notice of Assessment
- Computerised pay slips (last three months)
- Employment Pass (only for foreigners)
But if you are an existing customer of HSBC, you don’t have to go to such lengths to apply as you can do it at your online banking account. Once you submit your loan application, you can expect a fast loan approval.
Frequently Asked Questions
How can I use HSBC personal loan?
A personal loan is borrowed money you can use for “personal” purposes. The following are some of the common ways you can use a personal loan are listed below.

- Expensive Events
One day, you will want to plan to organise an important event like a wedding or a grand birthday party. A personal loan can act as financial assistance as it can cover costly expenses.
- Home Renovation
If you plan to remodel your house, consider getting a personal loan. It can help you pay for things like remodelling your kitchen, sink repair, fixing the plumbing, etc.
- Emergencies
Using a personal loan for emergencies that come out of the blue is a great idea. This is because you can get quick loan approval and cash disbursement regarding medical emergencies, sudden income loss, car breakdowns, etc.
- Vacations
Life would be so fulling if you had the chance to experience new cultures, spend quality time as a family on a cruise ship, or have a memorable honeymoon in a foreign country. These are all expensive endeavours, so to enjoy your vacation worry-free, you can let a personal loan handle the expenses.
- Lower or Higher Education
The ultimate goal of a student is to finish their education. A personal loan is a loan whose purpose is flexible. Because not only can you use it to pay your tuition fee. You can pay for your textbooks, seminars, school trips, etc.
How to increase the personal loan limit in HSBC?

- Increase Your Income
You must have a substantial yearly salary to increase the borrowing limits. You can achieve this through bonuses, incentives, passive income, or other investments.
- High A High Credit Score
Your credit score serves as a mirror of your financial behaviour. A high score indicates responsible borrowing habits, including prompt payments and complete settlement. As a result, you’ll have a higher chance of securing a more considerable loan amount and a longer loan tenure. Take control of your financial future by understanding and improving your credit score.
- Maintain Debt-To-Income Ratio
For your lender to offer you a substantial loan amount, it’s essential to have a debt-to-income ratio that is in balance. Be sure to settle your outstanding debts and work towards establishing a solid financial footing. Doing so will give you a loan with favourable terms and rates.
How can I pay my HSBC personal loan?
Suppose this is your first time making repayments on HSBC personal loan. Then you will need an account from the bank, specifically a repayment account. After obtaining one, you can settle financial obligations by depositing cash, checks, or bank transfers.
What happens if I miss my HSBC personal loan repayment?
Please repay your loan promptly to avoid charges imposed by the bank. HSBC personal loan has a late payment charge of S$75. With that, it is best to pay on time to avoid addiction charges.
What do I need to do to prepay my HSBC personal loan?
Complete the Personal Loan Full/Partial Repayment Form to prepay your loan. And before you submit it to the bank, it has to be one month before the following repayment schedule.
In addition, you have to be aware that making an early payment comes with other charges like:
- Partial Repayment Penalty: 2.5% of the redemption amount
- Total Repayment Penalty: 2.5% of the redemption amount
HSBC Personal Loan Assistance at Your Fingertips
Get connected with the power of HSBC Personal Loans. With just a phone call, you can tap into a world of financial opportunity. Dial +65 6472 2669 to speak with one of HSBC’s knowledgeable specialists, available 24 hours a day.
And if you’re calling from overseas, dial (65) 64722 669 to reach them. Empower your financial stability with HSBC Personal Loans.
If you cannot fulfil HSBC’s loan eligibility or requirements, do not worry. Many lenders in Singapore, like Accredit Licensed Money Lenders, can grant you the required personal loan.
Accredit Licensed Money Lender offers Singapore’s best moneylending services that are fast, efficient, and customer-focused. Visit Accredit today for a personal loan to help secure your financial situation and future!