HSBC - Personal Loan

The target market for the HSBC Personal Loan are customers who are likely have the following objectives, needs, financial situation and eligibility criteria.

Objectives and Needs

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. The loan does not require any type of collateral.
• 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.