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Why choose a HSBC Home Loan?

We understand that buying a house is one of the most important decisions in life, for people across the world. We also know that while most people dream of owning a perfect home, achieving that goal can be quite a challenge, especially when it comes to arranging the finance required to make such an expensive purchase.

But you can now fulfil this dream by opting for a Home Loan from HSBC.

Loan requirement - Loans ranging from INR300,000¹ up to INR 600,000,000¹
Property types - Loans are available to Resident Indians and Non-Resident Indians (NRIs) for ready properties, select under construction properties approved by HSBC. NRI applicants must have a local co-applicant or a local contact person
Loan tenure - Loans are available for tenures up to 25 years for salaried customers and up to 20 years for self employed customers up

Interest rates

Floating rates. Speak to a relationship manager for more details.

8.50% p.a.

Balance Transfer Loans

8.75% p.a.

Salaried

8.85% p.a.

Self-employed

Fixed rates. Speak to a relationship manager for more details.

13.25% p.a.

Salaried +Self-employed and Balance Transfer Loans

Fees and charges

Processing fees

A total of 1% of the loan amount sanctioned or INR10,000, whichever is higher, will be applicable as Processing Fee (plus applicable taxes⁵). The fee is collected in two parts: INR5,000 + applicable taxes⁵ is to be paid upfront along with the loan application and the balance processing fee amount applicable taxes⁵ is to be paid before disbursal of the loan. Processing fee paid is non-refundable.

Pre-payment/Foreclosure charges
Type	Charge
For Floating rate Home Loan and Loan Against property	No pre-payment or foreclosure charges apply to floating rate loans.
For Fixed rate Home Loan and Loan against Property	INR 5,000/- plus 5% of principal outstanding / amount prepaid plus applicable taxes. Prepayment charges will apply in the following scenarios: A bulk payment (over and above EMI) that results in a drop in account limit. Any mid-term changes to the fixed rate loan account (for example: switching from fixed rate to floating rate loan). The entire fixed rate home loan being paid off before the end of the fixed rate period.

Pre-payment/Foreclosure charges
Type	For Floating rate Home Loan and Loan Against property
Charge	No pre-payment or foreclosure charges apply to floating rate loans.

Type	For Fixed rate Home Loan and Loan against Property
Charge	INR 5,000/- plus 5% of principal outstanding / amount prepaid plus applicable taxes. Prepayment charges will apply in the following scenarios: A bulk payment (over and above EMI) that results in a drop in account limit. Any mid-term changes to the fixed rate loan account (for example: switching from fixed rate to floating rate loan). The entire fixed rate home loan being paid off before the end of the fixed rate period.

For processing pre-payment requests, you are required to send HSBC a written instruction communicating your desire to pre-pay with the intent of wanting to reduce the loan tenure or EMI. In case no clear instruction is received to reduce loan tenure or EMI, we will by default reduce the loan tenure basis the pre-payment amount received.

The security documents need to be stamped as per the local stamp duty laws, please speak to your Relationship Manager regarding the stamp duty payable on your documents.

Read more details on the applicable fees and charges.

Eligibility

To qualify for a Home Loan from HSBC, the following criteria apply

Minimum net Income INR500,000 p.a (salaried)⁴ or INR750,000 p.a (self-employed)
Minimum age (in years) 21
Maximum age (in years) on maturity of loans 58 (salaried), or 60 (public limited/government employees), or 65 (self-employed)
Minimum loan amount¹ INR300,000
Maximum loan amount¹ INR 600,000,000
Maximum tenure (in years) 20 years. For salaried applicants 25 years.

Insurance

You would need to insure your property with an insurance company against loss by fire, earthquake, floods and other damages with The Hongkong and Shanghai Banking Corporation Limited, India, as the beneficiary.

Switch to HSBC

Save more on EMIs or reduce your loan tenure by transferring your Home Loan to HSBC.

Interest rates starting at 8.50% (floating rate loans)
Reimbursement of franking fee on loan documentation up to 0.30%* of loan amount
Top-up of up to 50% at the same rate

Interest rates

Starting at

8.50%

on Home Loan

Start your application

Get an immediate callback

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You can also apply at your nearest HSBC branch. We'll be happy to answer any questions and help you get started with your application.

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Useful information

Frequently asked questions

Below example highlights how the interest on your loan is calculated.

Note: Calculations for INR2,500,000 at an interest rate of 7.85% p.a. for 20 years. EMI is INR 20,679 which consists of interest and principal components as mentioned below

Interest calculation
Month	Outstanding balance (INR)	EMI (INR)	Interest (INR)	Principal (INR)
Month 1	2,500,000	20,679	16,668	4,011
Month 2	2,495,989	20,679	16,641	4,038
Month 3	2,491,951	20,679	16,614	4,065

Interest calculation
Month	Month 1
Outstanding balance (INR)	2,500,000
EMI (INR)	20,679
Interest (INR)	16,668
Principal (INR)	4,011

Month	Month 2
Outstanding balance (INR)	2,495,989
EMI (INR)	20,679
Interest (INR)	16,641
Principal (INR)	4,038

Month	Month 3
Outstanding balance (INR)	2,491,951
EMI (INR)	20,679
Interest (INR)	16,614
Principal (INR)	4,065

Note: Rate of interest, EMI etc shown is for illustration and actual interest rate charged to your account may vary. Interest is calculated on daily reducing balance charged on monthly basis. Monthly interest amount = [outstanding loan balance] multiplied by [rate of interest] multiplied by [no. of days in the month/no. of days in the year].

The Interest rate on your Floating Rate home loan disbursed from 01 October 2019 onwards is linked to Repo linked Lending Rate (RLLR). Repo linked Lending Rate (RLLR) is an external benchmark linked lending rate for floating rate mortgage loans.

HSBC's RLLR is linked to RBI’s published repo rate rounded off to the nearest 5 bps.

The RLLR will be published by the bank at the beginning of every month and it will be the benchmark rate for RLLR linked Home Loans that are disbursed in that particular month
Rate of Interest for mortgage linked to the RLLR will be RLLR plus the margin (spread) as determined by the bank from time to time and will be reset when there is a change in the policy repo rate by RBI and consequently the RLLR. The rate of interest reset will be done by the 7th calendar day of the following month from RBI’s announcement of change in Repo Rate
A revision in the applicable rate of interest will lead to a revision in the Equated Monthly Instalment (EMI) or the loan tenure at the Bank’s discretion. The revised loan interest rate will be notified to you by SMS, or e-mail or letter as per the bank’s prevailing policy; however, SMS will be the preferred mode. Though the current benchmark rate applicable to your loan is the RLLR, the bank reserves the right to change the benchmark rate to a different external benchmark, with due notice to you
The margin charged to you will not be increased throughout the tenure of the loan, except on account of deterioration in the credit risk profile of the borrower

Example: A RLLR Linked Home Loan disbursed during month 1 will be benchmarked against the RLLR of month 1. If the repo rate is changed by the RBI in month 1, the interest will be reset in month 2 against the revised RLLR at the beginning of month 2 (by the 7th calendar day of month 2). If the repo rate is changed by the RBI in month 2, the interest will be reset in month 3 against the revised RLLR at the beginning of month 3 (by the 7th calendar day of month 3).

Loan repayment is through Standing Instruction/Letter of authority to debit your HSBC savings/current account for the Equated Monthly Instalment (EMI).

Credit approval timelines
Home Loan	Turnaround Time (working days)
Application processing (pre-approval)	Within 5 days of submitting complete documents
Evaluation of the property i.e. valuation and legal evaluation	From 3 days (onwards) of submitting copies of complete property documents
Loan processing (post-approval)	Within 4 days of submitting complete documents
Loan disbursal	Within 2 days of submitting duly stamped and completed loan agreement and other required documents

Credit approval timelines
Home Loan	Application processing (pre-approval)
Turnaround Time (working days)	Within 5 days of submitting complete documents

Home Loan	Evaluation of the property i.e. valuation and legal evaluation
Turnaround Time (working days)	From 3 days (onwards) of submitting copies of complete property documents

Home Loan	Loan processing (post-approval)
Turnaround Time (working days)	Within 4 days of submitting complete documents

Home Loan	Loan disbursal
Turnaround Time (working days)	Within 2 days of submitting duly stamped and completed loan agreement and other required documents

Timelines for legal evaluation are different for various states and can be known from the representative who is managing your loan application.

These timelines should be considered along with the detailed terms and conditions mentioned in the Mortgage Account opening form.

Debit to their NRE Account/NRO Account /Inward remittance/liquidation of FCNR/sales proceeds of immovable property on which loan was granted/Close relative's bank account.

In case of under construction properties the loan is disbursed in tranches and interest will be levied by HSBC only on the amount disbursed. Until the final disbursement of the loan, Pre-Equated Monthly Instalment (Pre-EMI)2 is payable. The Equated Monthly Instalment (EMI)3 of the loan starts only when the loan is fully disbursed or the construction is completed or after 3 years from disbursal of the first tranche.

For under construction properties the requisite interest/Pre-EMI amount is debited from your HSBC Savings/Current account on a monthly basis.

The applicable rate of interest will be the rate of interest given in the Facility Advice Letter (FAL) at the time the loan is sanctioned. All floating rate loans are linked to the HSBC's Repo Linked Lending Rate (RLLR). Any revision in the RLLR would impact the rate of interest.

For disbursal/release of each tranche to the builder, HSBC would need a written instruction from you requesting for disbursal/release of the tranche to the builder, along with the original demand letter from the builder and the disbursal advice letter.

Along with your request, for release of the final tranche to the builder, you need to provide insurance policy insuring the property against loss by fire, earthquake, floods and other damages with HSBC as the beneficiary.

The HSBC savings / current account used for the repayment of the loan comes without the requirement to maintain any minimum balance in the account during the tenure of the loan.

If the initial loan amount is greater than INR 11,500,000, you can avail of benefits of HSBC Premier, without the requirement to maintain any minimum balance in the account during the tenure of your loan - get a dedicated RM for all your banking needs, exclusive wealth management services and much more.

Find out more about HSBC Premier

You might also consider

Smart Home

A home loan that enables you to save on interest payments and thereby reduce tenure of the loan.

Loan Against Property

Raise funds against your residential or commercial property.

Smart Loan Against Property

Raise funds against your residential or commercial property, and save on interest.

Important information

All documents need to be self-attested

Completed application form with one passport-size photograph.
Proof of Identity (PI) (any one of the following):
1. Passport
2. Election/Voter’s ID
3. Permanent driving license
4. Permanent Account Number (PAN) card
5. Aadhaar Card
Proof of Present Residential Address (PRA) (any one):
1. Passport
2. Election/Voter’s ID
3. Permanent driving license
4. Society outgoing bill (only from registered societies)
5. Electricity/water/telephone bill
6. Gas bill (pipeline connection only)
7. Property tax bill
8. Domicile certificate with address issued by Municipal Corporation
  The above PI and PRA is an indicative list and final documents acceptable are based on HSBC's policy as applicable at the time of application of the loan. For more details, you can speak to your Relationship Manager (RM) or visit the nearest branch.
  Note: If the address on the document submitted as PI by the prospective customer is the same as that declared by him/her in the Application form, the document may be accepted as a valid proof of both PI and PRA. If the address indicated on the document submitted for PI differs from the address mentioned in the Application Form, a separate proof of PRA should be obtained.
Proof of age (any one):
1. Passport
2. Permanent driving license
3. PAN Card

The above proof of age is an indicative list and final documents acceptable are based on HSBC’s policy as applicable at the time of application of the loan. For more details, you can speak to your Relationship Manager (RM) or visit the nearest branch.

Financial/Income documents required for Resident Indian

All documents need to be self-attested

Listed below are the basic documents required, for more details please speak to your Relationship Manager or visit the nearest HSBC branch.

Salaried individuals:

Latest 3 months' salary slips showing statutory deductions and
Bank statements for last 3 months showing last 3 salary credits

Self-employed individuals:

Acknowledged IT returns for last 2 years (including e-acknowledgement)
P&L account, balance sheet certified/ audited by a CA and computation of income for last 2 years with all annexures and auditor's report
Primary bank account statements for last 6 months
For Partners of the partnership firm, additionally Partnership Deed is required
For Directors of the Private Limited companies additionally required: Shareholding Pattern or Memorandum and Articles of Association duly attested by a CA and List of Directors

Consultant / Self-employed Professional:

Acknowledged IT returns for last 2 years (including e-acknowledgement)
P&L account, balance sheet certified/ audited by a CA and computation of income for last 2 years with all annexures and auditor’s report
Primary bank account statements for last 6 months

Financial/Income documents required for Non Resident Indian (NRI)

All documents need to be self-attested

Listed below are the basic documents required, for more details please speak to your Relationship Manager or visit the nearest HSBC branch.

Salaried:

Copy of valid Indian passport showing Visa stamps or copy of foreign passport/equivalent documents
Copy of valid Visa/work permit/equivalent documents supporting the NRI status of the applicant accountholder
Latest contract copy evidencing salary/salary certificate/wage slips
Overseas bank account statements for last 3 months showing salary credits
3 months NRE/NRO account statements
Local bureau report of the country/region where customer is based

Working in Merchant Navy:

Latest contract copy. If on ‘home port’ for more than 6 months this year, future contract copy is required
Latest Continuous Discharge Certificate (CDC) for 3 years’ employment proof
Copy of passport for proof of identity
Primary bank account statements for last 3 months
Local bureau report of the country/region where customer is based (applicable if country/region of residence is other than India)

Self-employed:

Trade license or equivalent document
6 months overseas bank account statements and NRE/NRO account statements
Computation of income, P&L account and balance sheet for last 3 years certified by a CA/CPA or any other relevant authority as the case may be (or equivalent company accounts)
Passport copy with valid Visa stamp
Brief profile of the applicant and business in the specified format
Local bureau report of the country/region where customer is based

Note: The above stated requirements/documentation is subject to change and is at the sole discretion of The Hongkong and Shanghai Banking Corporation Limited, India (HSBC).

Terms & Conditions

All loans are subject to terms and conditions and are at the sole discretion of The Hongkong and Shanghai Banking Corporation Limited, India (HSBC). Currently Home Loan is available for properties in and around the city limits of (sourcing cities) Ahmedabad, Bengaluru, Chandigarh, Chennai, Coimbatore, Hyderabad, Jaipur, Kolkata, Kochi, Mumbai, New Delhi (NCR) and Pune and is subject to change from time to time.

Loan anniversary is the date and month on which the loan was disbursed. Example: If your loan was disbursed on 20 May 2012. Then every year, 20 May will be the loan anniversary.

¹ The minimum and maximum loan depends on customer’s relationship with HSBC, city of property and property type. Loan amount of upto INR 600,000,000 only for existing HSBC Top Tier customers for properties in Mumbai/Delhi/Bengaluru, upto INR 200,000,000 for properties in Pune, Hyderabad and Chennai, and upto INR 150,000,000 for other locations. For HSBC Premier customer maximum loan amount of INR150,000,000 for properties in Mumbai/Delhi and INR 100,000,000 for all other sourcing cities for ready and under construction properties. For other customers loan amount of upto INR100,000,000 for ready and under-construction properties in Mumbai, New Delhi (NCR), and INR75,000,000 for ready and under construction properties in Bengaluru, Chennai, Pune, Ahmedabad, Chandigarh, Jaipur, Hyderabad and Kolkata (however we do not fund under construction property in Kolkata). The minimum agreement and market value of the property to be funded for Mumbai and Delhi is INR2,500,000 and for all other sourcing cities is INR1,500,000.

² Pre Equated Monthly Instalment (Pre-EMI) means interest on the loan from the date/dates of disbursement of the loan to the date immediately prior to the date of commencement of EMI and initially at the rate indicated in the FAL and subject to change from time to time. Pre-EMI amount will be adjusted towards payment of the interest accrued on the outstanding loan amount.

³ Equated Monthly Instalment (EMI) means the amount of monthly payment consisting of principal and interest necessary to amortise the loan amount with applicable interest within such period as may be determined by the Bank from time to time.

⁴ To meet the minimum income criteria, income of two salaried applicants can be clubbed.

⁵ Please note that basis Goods and Services Tax (GST) regulations and notified GST rates, Central GST, State/Union Territory GST, or Inter-State GST, as applicable, and Cess as applicable would apply on our fees and charges.

Home loans are available to both Residents as well as NRIs. NRI Applicants must have a local co-applicant or a local contact person. 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 loan, if disbursed on/after 01 October 2019 is linked to HSBC's Repo Linked Lending Rate (RLLR). Any revision in the RLLR would impact your interest rate.

The interest rate on your floating rate loan, if disbursed on/after 01 April 2016 is linked to HSBC's 3 month Marginal Cost of Fund based Lending Rate (MCLR). Any revision in the 3 month MCLR would impact your interest rate.

The interest rate on your floating rate loan, if disbursed on/after 01 July 2010 till 31 March 2016 is linked to HSBC's Base Rate. Any revision in the Base Rate would impact your interest rate.

The interest rate on your floating rate loan if disbursed prior to 01 July 2010 is linked to HSBC's Retail Lending Rate (RLR) and any revision in the RLR would impact your interest rate.

Change of existing Benchmark Rate from MCLR/Base Rate/Retail Lending Rate to Repo Linked Lending Rate (RLLR)

Existing HSBC Mortgage customer who wish to link their Floating rate loans to RLLR from their existing benchmark rates of MCLR/Base Rate/Retail Lending Rate can do so by approaching their Relationship Managers or visiting their nearest branch for more details. A one time nominal switch over charge / fees of up to INR 2500/- plus applicable taxes would be charged. The application form for conversion can be found here.

Most important terms and conditions (MITC) for Floating and Fixed rate Home Loans (PDF, 156 KB) are displayed on the website for your reference. A copy of the same is also available at our Branches.

Please be advised that applicable Indirect Taxes would be recovered on all our fees and charges and any other amount liable to tax under prevailing Indirect Tax Laws.

Our Centralised Registration Number is AAACT2786PST001.

Home loan balance transfer terms and conditions

This is brought to you by The Hongkong and Shanghai Banking Corporation Limited, India (HSBC/Bank). Any participation in the Offer is voluntary.
The mentioned floating rate of interest is being offered for Home Loans. The rate applicable for other variants (Smart Home Loan. Loan against Property and Smart Loan against Property) will be at a premium. This rate is applicable only for Balance Transfer/Balance Transfer + Top-up. Top up of more than 150% of the base loan will be priced at a premium of 50 bps.
The Interest rate on your Floating Rate Home Loan is linked to HSBC’s (the Bank) published Repo Rate Linked Lending Rate (RLLR). HSBC’s RLLR would be linked to RBI’s published repo rate rounded off to the nearest 5 bps. The RLLR will be published by the Bank at the beginning of every month and it will be the benchmark rate for RLLR linked Home Loans that are disbursed in that particular month. The floating rate of interest on all the loans disbursed by the Bank will be reset when there is a change in the policy repo rate by RBI. The reset will be done by the 7th calendar day of the following month from RBI’s announcement of change in repo rate. A revision in the applicable rate of interest will lead to a revision in the Equated Monthly Instalment (EMI) or the loan tenure at the Bank’s discretion. The applicable rate of interest rate on your loan is the RLLR plus the margin (spread). For further details kindly visit our website www.hsbc.co.in.
Reimbursement of franking fee on loan documentation up to 0.30%* of loan amount.
*Please refer detailed Terms & Conditions for reimbursement of franking fee on Mortgage loan documentation as below:
1. Mumbai, Pune, Ahmedabad & Bengaluru: Reimbursement of franking fee on loan documentation up to 0.3% of the loan amount
2. Chennai & Coimbatore: Reimbursement of franking fee on loan documentation up to 0.3% of loan amount OR INR 25,000 whichever is lower
3. Kochi: Reimbursement of franking fee on loan documentation up to 0.1% of loan amount OR INR 10,000 whichever is lower
4. Hyderabad: Reimbursement of franking fee on loan documentation up to 0.3% of loan amount OR INR 50,000 whichever is lower
5. Jaipur: Reimbursement of franking fee on loan documentation up to 0.15% of loan amount
6. The reimbursement will be done to the linked HSBC account within 120 days of the loan disbursal subject to the loan being active at the time of the reimbursement
7. Eligibility condition for reimbursement - customer should have submitted all required post disbursal documents to the bank within 90 days of disbursal of the loan. In case of Balance Transfer, the title documents from the erstwhile bank should have been received within the above mentioned timeline
8. The reimbursement is applicable to cases which have been sourced in any of our approved locations with property located in Mumbai, Pune, Ahmedabad, Chennai, Coimbatore, Bengaluru, Kochi, Hyderabad or Jaipur only
All loans are subject to terms and conditions and are at the sole discretion of The Hongkong and Shanghai Banking Corporation Limited, India (HSBC). Currently Home Loan is available for properties in and around the city limits of (sourcing cities) Ahmedabad, Bengaluru, Chandigarh, Chennai, Coimbatore, Hyderabad, Jaipur, Kolkata, Kochi, Mumbai, New Delhi (NCR) and Pune and is subject to change from time to time.
All loans are subject to the documentation, applicable credit policies and compliance of legal requirement of HSBC.
HSBC shall conduct required verification, valuation and legal checks as per its extant policies applicable.
HSBC reserves the right to ask for documents as required for the loan processing.
HSBC reserves its absolute right to withdraw or alter any of the terms and conditions at any time without prior intimation.
HSBC will not be liable for any loss or damage whatsoever that may be suffered, as a result of availing the Loan.
This is subject to force majeure events.
All decisions with respect to the loan shall be at the sole discretion of HSBC and the same shall be final, binding and non-contestable. Other than the specific entitlements available to the customers under this offer, any other claims with regard to this offer against HSBC are waived.
Any disputes arising out of this shall be subject to the exclusive jurisdiction of courts in Mumbai only. The existence of any dispute shall not, by itself, constitute any claim against HSBC.
By availing the loan, you shall be deemed to have accepted these terms and conditions herein in totality.

Home Loan

Why choose a HSBC Home Loan?

Interest rates

Fees and charges

Eligibility

Insurance

Switch to HSBC

Save more on EMIs or reduce your loan tenure by transferring your Home Loan to HSBC.

Interest rates

Start your application

Get an immediate callback

Apply in an HSBC branch

Useful information

Documents & links

Frequently asked questions

How is interest calculated?

How is the loan repayment processed?

How long does it take for my credit to be approved?

If I am a Non-Resident Indian (NRI) how can I pay my loan?

Can I apply for a home loan if my property is under construction?

What are the banking benefits of a HSBC Home Loan?

You might also consider

Smart Home

Loan Against Property

Smart Loan Against Property

Important information

Documentation Criteria

Terms & Conditions

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