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Hong Kong and Shanghai Banking Corporation Home Loans Rates

Borrowers always look for affordable rates when it comes to borrowing a home loan. Hong Kong and Shanghai Banking Corporation offers truly attractive home loan rates to customers. Hong Kong and Shanghai Banking Corporation home loans rates are one of the most competitive rates that are available in the home loan market of India.

About Hong Kong and Shanghai Banking Corporation Home Loans Rates

Hong Kong and Shanghai Banking Corporation home loans rates are one of the best rates in the market. They have been formulated to fit the repayment capacity of the borrower. Both fixed and floating rate loan programs are available.

The rate of interest on your floating rate home loan, if received on /after 1st July, 2010, is tied to the base rate of HSBC. Any modification/adjustment in the base rate of HSBC would influence your rate of interest. The base rate of Hong Kong and Shanghai Banking Corporation is raised by 50 bps to 7.5 per cent, effective from October 1, 2010.

The rate of interest on your floating rate home loan if received before 1st July, 2010 is tied to the Retail Lending Rate (RLR) of HSBC. Any modification/adjustment in the RLR would influence your rate of interest. The Retail Lending Rate of HSBC is 13.75% w.e.f. 3rd July, 2009.

Quantum of finance

Loan amounts range from Rs.5 lakhs to Rs.5 crores. However, this is subject to certain conditions. Loans are available from Rs. 5 lakhs to Rs. 5 crores for loan applicants in New Delhi (NCR), Mumbai and HSBC Premier customers. Loans are available from Rs.2 lakhs to Rs. 3 crores for loan applicants in Chennai and Rs.5 lakhs to Rs.3 crores for loan applicants in Bengaluru.

Eligibility criteria for HSBC home loans

Listed below are the eligibility criteria for HSBC home loans:

Net Income (Rs.) - 500,000 per annum (for salaried individuals)
750,000 per annum (for self-employed individuals)

Minimum Age - 21 years

Maximum Age - 58 years (for salaried individuals)
65 years (for self employed individuals)
60 years (for Government sector/Public limited employees)



Minimum Amount of Loan - Rs.5 lakhs

Maximum Amount of Loan - Rs.5 crores

Maximum repayment Term - 25 years

Necessary documentation for HSBC Home loans

Given below are the documents you need to furnish while applying for an HSBC home loan:

Filled out loan application form along with one passport size photo

Identity proof (any one of the following)

  • Photo PAN card
  • Passport
  • Voters identity card
  • Defence identity card
  • Photo ration card
  • Driving licence
  • Government identity card

Address/residential proof (any one of the following)

  • Ration card
  • Passport
  • Electricity bill
  • Telephone (mobile/landline) bill
  • Society outgoing bill
  • Driving licence
  • Life Insurance Policy
  • Voter’s identity card

Only passport can be utilized as both identity proof and residential proof.

Age proof (any one of the following)

  • Legitimate driving licence
  • Passport
  • Birth certificate
  • Voter’s identity card
  • Life insurance policy or premium receipt distinctly mentioning age of the applicant
  • Employer’s letter mentioning the age of the employee
  • School leaving certificate

Financial documents

1) Salaried individuals

  • Most recent pay slip demonstrating statutory deductions
  • Form 16 (Declaration from the employer furnishing the information about earnings and deductions, properly signed by an authorised signatory of the company)
  • Most recent certified Income Tax returns and
  • Bank statements for the past 3 months

2) Self-employed individuals/Proprietors

  • Calculation of income and Profit & Loss A/c for the past 2 years authenticated by a Chartered Accountant or Profit & Loss A/c and Balance Sheet for the past 2 years attested by a Chartered Accountant
  • Bank statements for the past 6 months
  • Copies of certified Income Tax returns for the past 2 years

3) Partnerships (Loans will be offered in the name of partners)

  • Calculation of income and Profit & Loss A/c for the past 2 years authenticated by a Chartered Accountant or Profit & Loss A/c and Balance Sheet for the past 2 years attested by a Chartered Accountant
  • Bank statements for the past 6 months
  • Copies of certified Income Tax returns for the past 2 years
  • Letter of authority, partnership agreement and proof of office

4) Private Limited Companies (Loans will be offered in the name of Directors)

  • Calculation of income and Profit & Loss A/c for the past 2 years attested by a Chartered Accountant or Profit & Loss A/c and Balance sheet for the past 2 years authenticated by a Chartered Accountant and
  • Copies of certified Income Tax returns for the past 2 years
  • Memorandum and Articles of Association
  • Bank statements for the past 6 months
  • Board resolution
  • Proof of office
  • Authorised letter from all directors to be furnished with the application form with photographs of authorized signatories if not mentioned in the board resolution

5) Non Resident Indians:

For salaried NRI loan applicants:

  • Copy of legitimate job permit/visa/similar paperwork substantiating the NRI status of the potential account holder
  • Copy of legitimate passport demonstrating VISA stamps
  • Overseas bank A/c for the past 3 months demonstrating salary credits
  • Most recent copy of contract showing pay certificate/pay/ salary slips

For self employed NRI loan applicants:

  • Trade license or similar paperwork
  • Overseas bank account statement for past 6 months and NRO/NRE account
  • Calculation of income, Profit & Loss account and Balance Sheet for the past 3 years attested by a Chartered Accountant/Certified Public Accountant or any other appropriate authority as applicable (or similar company accounts)
  • Copy of passport with legitimate visa stamp
  • Short outline of the loan applicant and business




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