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Hong Kong and Shanghai Banking Corporation Home Loans

When you are seeking home loans at really affordable rates, Hong Kong and Shanghai Banking Corporation might be the right place for you. Hong Kong and Shanghai Banking Corporation home loans have all the features that a common home loan borrower looks for.

About Hong Kong and Shanghai Banking Corporation home loans

Hong Kong and Shanghai Banking Corporation home loans are ideal means for financing a home purchase. All the home loans offered by Hong Kong and Shanghai Banking Corporation are available with attractive rates and terms and the repayment terms are also flexible. There are two types of home loans that HSBC India offers and they are described below:

1) HSBC Home Loan

This is an affordable home loan option that makes your home buying process truly simple. Your dream home is nearer than you imagine.

Features and benefits of HSBC Home Loan

Given below are the important features and benefits of HSBC home loans:

Loan amount

You can borrow from Rs.5 lakhs to Rs.5 crores.

Purposes

You can use an HSBC home loan for readymade property, home improvement and self construction. Both resident Indians and NRIs are eligible for this loan program.

Repayment term

You can get a maximum repayment term of 25 years.

Repayment options

You can select between floating and fixed rate home loans. You can also switch from a floating rate loan to a fixed rate loan once every year without any additional charges.

Tax benefits



If you are a resident Indian, then you can qualify for particular tax benefits on interest and principal payments on a home loan as per the Income Tax Act, 1961.

No penalty option

You can make a prepayment of up to 25% of your loan amount on a yearly basis. Prepayment is allowed following a minimum period of 6 months after loan disbursement.

2) Smart Home Loan

Under the Smart home loan option from HSBC, you are allowed to ascertain how much interest you want to pay. This helps you save money and pay off your loan faster. Competitive interest rates are available with these loans.

Features and benefits of Smart Home Loan

Given below are the important features and benefits of Smart Home Loan:

You can save up to 50% on your interest payments

With every Smart home loan, you will receive a current account. You just have to deposit your normal savings into the Smart Home Account. Subject to the savings you deposit into this account, you can lower the amount of interest payable by up to 50%. The calculation of your home loan interest is done on the principal amount due less the deposits made in your Smart Home Account each month, besides your EMI. This is the reason why you are able to save money.

Tax benefits

Smart Home Loan consumers will qualify for particular tax benefits on interest and principal payments on a housing loan as laid down by the Income Tax Act, 1961.

Other benefits

The Smart Home Account can be used as your primary bank account for depositing and withdrawing cash.

Together with your Smart Home, you can avail accessibility to an HSBC Advance Account with the advantages given below:

  • Facility of free cheque payable at par
  • Free accessibility to 23,500 VISA ATMs throughout India, through your HSBC Advance Platinum Debit Card
  • Financial planning consultancy services to assist you in setting your financial objectives
  • Committed counters and service desks at branches of the bank


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