HSBC Home loan – Interest Rates 2023, EMI Eligibility Calculator
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HSBC Home Loan Interest Rates 2023
*You can transfer your Home Loan only from a list of financiers approved by HSBC
*The minimum and maximum loan amount depends on city of property and property type
Home Loan applications received for rupees ₹ 419,027 crores till 31 March 2023
Features & Benefits HSBC Home loan
✔ Loan requirement – We offer you loans ranging from Rs. 5 lakhs upto Rs. 5 crore*
✔ Property types – We offer loans to Resident Indians and NRIs for ready property, self-construction and home improvement.
✔ Loan tenure – Loans are available for tenures upto 25 years **.
✔ Home Loan repayment options – Choose between fixed and floating rate home loans. You also have the option of switching from a floating rate home loan to a fixed rate home loan once a year at no extra cost. ***
✔ No penalty option – You can opt to pre-pay up to 25% of your loan every year. Pre-payment is permitted after a minimum of 6 months following loan disbursal.
✔ Tax benefits – Resident Indians are eligible for certain tax benefits on principal and interest components of a housing loan under the Income Tax Act, 1961.#
Eligibility Criteria Required for HSBC Home loan
|Net Income (Rs.)||₹ 5 lakh (salaried)
₹ 7.5 lakh (self-employed)
|Minimum Age (in years)||21|
|Maximum Age (in years)||58 (salaried)
60 (Public limited/Government Employees)
65 (self employed)
|Minimum Loan Amount (Rs.)||₹ 3 lakh|
|Maximum Loan Amount (Rs.)||₹ 10 Crore|
|Maximum Tenor (in years)||Upto 25 years|
Smart Home Features & Benefits
Save up to 50% on interest payments – With every Smart Home loan, you get a current account. All you need to do is put your usual savings, from other accounts, into the Smart Home Account. Depending on the savings you put into the Smart Home Account, you can reduce the quantum of interest paid by up to 50%.
Smart Home works to save you money
Your home loan interest is calculated, on the principal outstanding minus the savings deposited in your Smart Home Account every month, over and above your EMI. Use Home Loan EMI Calculator
|Loan Details||Normal Home||Smart Home|
|Loan Amount (Rs.)||₹ 5,000,000||₹ 5,000,000|
|Interest Rate (p.a.)*||9.45%||9.95%|
|Original Loan Tenure||20 Years||20 years|
|EMI (Rs.)||₹ 51,609||₹ 54,083|
|Actual EMI’s Paid||240||126|
|Total Interest (Rs.)||₹ 7,386,261||₹ 3,686,716|
|Savings in Interest (Rs.)||₹ 3,699,544 (50%)|
* Interest rates are merely indicative which can change from time to time depending on market conditions.
Processing fees : 1% of the loan amount sanctioned or INR10,000, whichever is higher.
Tax benefits – Smart Home customers are eligible for certain tax benefits on principal and interest components of a housing loan under the Income Tax Act, 1961*.
Exclusive Smart Home banking privileges for you –
- You can even use the Smart Home Account as your main bank account for depositing and withdrawing money
- Along with your Smart Home, get access to an HSBC Advance Account, with the following benefits:
- Free access to 23,500 VISA ATMs across India, with your HSBC Advance Platinum Debit Card+
- Free cheque payable at par facility
- Dedicated service desks and counters at branches
- Financial planning services to help you plan your financial goals
Processing Fees: A total of 1% p.a. of the loan amount sanctioned or INR. 10,000, whichever is higher, will be applicable as Processing Fees (plus service tax). The fees is collected in two parts: INR 5,000 plus service tax is to be paid upfront along with the loan application and the balance Processing Fees amount Plus service tax is to paid before loan disbursal. Processing Fees paid is non refundable
The minimum and maximum loan depends on city of property and property type. Loan amount of ₹ 5 Lakh to ₹ 10 Crore for ready and under-construction properties in Mumbai, New Delhi (NCR).
₹ 3 Lakh to ₹ lakh for ready and under construction properties in Bengaluru, Chennai, Pune, Ahmedabad, Chandigarh, Jaipur and Hyderabad.
₹ 3 Lakh to ₹ 30 lakh for purchase of plot of land in Mumbai and Delhi.
₹ 3 Lakh to ₹ 30 lakh for purchase of plot of land in Bengaluru, Chennai, Pune, Ahmedabad, Chandigarh, Jaipur and Hyderabad.
₹ 3 lakh to ₹ 1 crore for self-construction loan and ₹ 3 lakh to ₹ 25 lakh for home improvement loans for properties in all sourcing cities.
For HSBC Premier customer maximum loan amount of ₹ 10,00,00,000 for all sourcing cities for ready and under construction properties. The minimum agreement and market value of the property to be funded for Mumbai and Delhi is ₹ 25 lakh and for all other sourcing cities is ₹ 15 lakh.
Other Available Retails products of HSBC Bank
HSBC Bank Personal Loan
HSBC Bank Property Loan
HSBC Bank Fixed Deposit
HSBC Bank Credit Card
HSBC Bank Car Loan
HSBC Bank Gold Loan
Source: HSBC Bank official Website