HSBC - Car Loan

These customers are likely to have the following objectives, needs, financial situation and must meet the eligibility criteria for this product:

Needs & Objectives

Customers with any one or more of the following needs and objectives:-

• Require a personal loan to:
  • achieve various life goals e.g., buying a car, property renovation, paying for a wedding, education, or holiday.
  • consolidate debts.
  • help manage cash flow.
• Do not want to give security over any assets.
• Ability to pay off the loan over a chosen time frame and make additional repayments.

Financial situation

Customers in all of the following financial situations:-

• Require a credit facility between $5,000 to $50,000.
• Earn a regular income.
• Have a good credit rating and not be experiencing financial hardship or financial stress as identified through credit bureau checks carried out at the time of application.
• Be able to make the fixed monthly repayment each month on their account without experiencing financial hardship.

Eligibility Criteria

To hold a personal loan, customers must be able to satisfy certain eligibility criteria, including that customers must:

• Be aged 18 years or older.
• Be an existing HSBC Australia customer for at least 12 months; or have an existing Mortgage with HSBC; or hold HSBC Premier status at the time of application.
• Be an Australian resident.
• Earn a regular income of at least AUD40,000 per year before tax.
• Have a good credit rating and not be experiencing financial hardship or financial stress as identified through credit bureau checks carried out at the time of application.
• Be able to service the proposed loan in accordance with the HSBC’s lending criteria and responsible lending obligations at the time of application.