HSBC Personal Loan

HSBC Malaysia is among the largest international banks with world-class financial services and products including Retail Banking, Wealth Management, Commercial Banking, and Global Banking and Markets.


Compare Personal Loans by HSBC Malaysia

About the loan

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Features


Key features
ongoing promotion
- fixed profit rate from 6.00% p.a.
- valid till 31st December 2019
- via CompareHero only, T&C apply
minimum loan amountRM 6,000
maximum loan amountRM 150,000
minimum loan duration
24 months or 2 years
maximum loan duration
(new customers)
60 months or 5 years
maximum loan duration
(existing HSBC customers)
84 months or 7 years

Benefits

  • Syariah-compliant under the concept of Commodity Murabaha (cost plus profit)
  • low monthly repayment from RM134
  • low flat profit rate from 10.5% per annum
  • up to 7 years of payment period
  • instant cash disbursement into your HSBC or HSBC Amanah financing account upon approval
  • fast and hassle-free application
  • fast approval
  • no collateral or guarantor needed
  • optional Takaful coverage is available

Eligibility

  • minimum monthly salary - RM3,000 and above (existing HSBC Amanah customers)
  • minimum monthly salary - RM5,000 and above (for new customers)
  • minimum age - 21 years old
  • maximum age - not more than 60 years old upon maturity of loan
  • nationality - Malaysian or having a Malaysian permanent resident status

Fees & Charges

Financing amountRegular fixed interest rate
RM6,000 - RM19,50012.5% p.a.
RM20,000 - RM49,50011.5% p.a.
RM50,000 - RM150,00010.5% p.a.
  • application processing fees - waived
  • early settlement charges - none (1 month's prior written notice)
  • late payment charges - 1% p.a. on the overdue payment amount

[last updated: 17 Oct 2019]

CategoryDocuments to prepare
Salaried Malaysians

compulsory

  • photocopy of MyKad (both sides)

any of the following where necessary

  • copy of a current or previous month’s pay slip
  • copy of a bank statement showing salary credit into your account
  • Form BE (full submission to LHDN with payment receipts attached)
  • Form EA
  • your EPF statement
  • copy of an appointment letter (if employed less than three months)
Variable IncomeMalaysianscompulsory
  • photocopy of MyKad (both sides)
  • a copy of the latest 3 months’ pay slips OR
  • a copy of your bank statement showing salary credits into the account
any of the following where necessary
  • Form BE (full submission to LHDN with payment receipts attached)
  • EPF statement
  • a copy of your yearly commission statements from your employer
Self-employed Malaysians

compulsory

  • a copy of your MyKad
  • a copy of your Business Registration form

any of the following where necessary

  • a copy of latest Form B (full submission to the LHDN with payment receipts, or CPO2 attached)
  • copy of your audited financial statement / profit and loss account
  • EPF Statement
 

HSBC Bank Malaysia Berhad, or also known as Hongkong and Shanghai Banking Corporation Limited was established in 1884 with its first office located in Penang. The bank soon expanded across the country and it currently employs 4000 Malaysians with over 60 branches nationwide.

HSBC is also in the top 10 largest banks in the world according to assets and market cap. As of now, HSBC’s total assets rank in top 10 biggest banks globally and among top 20 largest public companies in 2016 according to Forbes magazine.

With excellent banking services and financial products, HSBC is among the most trusted financial institutions in Malaysia.

Compare all HSBC personal loans today and apply on CompareHero.

HSBC Amanah Personal Financing-i is a term financing facility with mixed monthly instalments.

It is based on the Commodity Murabahah, an arrangement to buy and sell Syariah compliant commodities.

In this process, all the cost and profit margin are transparent and agreed upon by all parties in the transaction.

Islamic personal financing follows Islamic banking principles, making it Syariah-compliant. 

The loan does not have fixed or floating interest rates or fees (riba/usury) for the loan of the money, as prohibited by the Islamic banking principles.

There is also no concept of compounding interest calculation, therefore late settlement of Islamic personal financing could incur lower charges than conventional personal loans

Yes, all who are eligible can apply for HSBC Amanah Personal Financing-i, regardless whether they are Muslim or non-Muslim.

You need to be 21 years old and above and not more than 60 years old upon the loan maturity date.

Holds a Malaysian citizenship or PR status.

Minimum salary of RM3000 monthly if you are an existing HSBC Amanah customer, or minimum RM5,000 monthly if you are a new-to-bank customer.

Minimum amount - RM6,000

Maximum amount - RM120,000 (for new customers)

Maximum amount - RM150,000 (for existing customers)

Minimum duration - 2 years

Maximum duration - 5 years (for new customers)

Maximum duration - 7 years (for existing customers having a deposit, mortgage or credit card with HSBC Amanah)

The profit rate is different according to the amount of financing required

  • for RM6,000 - RM19,500: rate 12.5% p.a.
  • for RM20,000 - RM49,500: rate 11.5% p.a.
  • for RM50,000 - RM150,000: rate 10.5% p.a.

No, the financing is only for an individual sole account, joint account is not allowed.

None, the processing fee is currently waived.

Yes, early settlement at any point of time during the financing tenure is allowed with 1 month notice period.

No penalty is imposed for early settlement.

No, the instalment amount and the selling price agreed initially is final.

You can make payment via your deposit account. A standing instruction from your deposit account will be established to the facility account at the point of financing disbursement.