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citiBank HSBC Home Loan

About HSBC home loan

The Hongkong and Shanghai Banking Corp. Ltd., now known as HSBC Bank, opened in Hong Kong in March 1865 and in Shanghai one month later. Since then, the bank has expanded to 71 countries, with 4,400 offices serving more than 45 million customers, including millions in Singapore, where HSBC offers products such as home loans, mortgage loan products, credit cards, loans, savings accounts, and others.

HSBC launched its first branch in Singapore in 1877, at the Collyer Quay site where its headquarters currently stand. Banking and financial services of HSBC Bank include commercial, investment and private banking, as well as forfaiting and trustee services; insurance; retail banking and wealth management; and securities and capital markets services.

HSBC home loan

As one of the main types of HSBC loans, the bank’s home loan allows you to borrow money from HSBC to buy a new property, refinance an existing home loan, purchase property for commercial use, or get a home equity loan.

An HSBC home loan can be customized according to desired interest rate terms: fixed interest rates, variable interest rates, SIBOR-pegged interest rates, and SmartMortgage. The loan also has other custom options for specific terms, alongside other features.

Regardless of which terms of HSBC home loan rates are selected, all loans come with the HSBC Home Assist service, which gives clients complimentary access to 24-hour emergency home assistance. The service covers air-conditioning, electrical, locksmith, pest control, and plumbing emergencies. Through this service, HSBC Bank will reimburse up to S$150 per emergency for up to five times a year.

The loans can also be secured with or without a lock-in period, depending on that the borrower wants. A no lock-in option will allow a borrower to sell his property anytime, with no penalties or fees. However, the lock-in option grants HSBC loan clients the option to get lower interest rates for one to three years, in exchange for additional stipulations for selling property within the lock-in period.

HSBC home loan: Fixed and variable interest rate loans

People who will get home loans from HSBC can opt to secure the loan with fixed-term or variable interest rates.  The fixed-interest option is for HSBC bank clients who want stability in their payments, while the variable-interest option is for people who want to take advantage of the possibility of lowering interest rates. A mortgage specialist will provide the specifics of interest rates for these loans.

HSBC home loan: SIBOR-pegged loan

For this option, the interest rate is pegged to the SIBOR, or the Singapore Interbank Offered Rate, plus a set percentage rate. SIBOR is a daily reference rate that fluctuates based on the interest rates that banks like HSBC Bank set when they lend unsecured funds to other banks in the Singapore wholesale money market.

This HSBC home loan stipulation has no lock-in conditions. The additional percentage rate options for new purchase or refinancing loans are 1.15%, 1.20%, and 1.50%, while the options for home equity loans are 1.30%, 1.35%, and 1.50%. For home loans secured for properties under construction, the additional rate is constantly at 1.50%.

HSBC home loan: SmartMortgage

This HSBC mortgage option ties a home loan account with a current account. Via this option, a certain amount of interest earned on the current account will be transferred to the home loan, effectively reducing the loan’s interest.

Are you looking for an HSBC home loan that will help you buy your dream home? Compare home loans with GoBear to find the best deal for you in 3 easy steps.

Compare-Home-Loans.png

More Info

HSBC home loan

As one of the main types of HSBC loans, the bank’s home loan allows you to borrow money from HSBC to buy a new property, refinance an existing home loan, purchase property for commercial use, or get a home equity loan.

An HSBC home loan can be customized according to desired interest rate terms: fixed interest rates, variable interest rates, SIBOR-pegged interest rates, and SmartMortgage. The loan also has other custom options for specific terms, alongside other features.

Regardless of which terms of HSBC home loan rates are selected, all loans come with the HSBC Home Assist service, which gives clients complimentary access to 24-hour emergency home assistance. The service covers air-conditioning, electrical, locksmith, pest control, and plumbing emergencies. Through this service, HSBC Bank will reimburse up to S$150 per emergency for up to five times a year.

The loans can also be secured with or without a lock-in period, depending on that the borrower wants. A no lock-in option will allow a borrower to sell his property anytime, with no penalties or fees. However, the lock-in option grants HSBC loan clients the option to get lower interest rates for one to three years, in exchange for additional stipulations for selling property within the lock-in period.

HSBC home loan: Fixed and variable interest rate loans

People who will get home loans from HSBC can opt to secure the loan with fixed-term or variable interest rates.  The fixed-interest option is for HSBC bank clients who want stability in their payments, while the variable-interest option is for people who want to take advantage of the possibility of lowering interest rates. A mortgage specialist will provide the specifics of interest rates for these loans.

HSBC home loan: SIBOR-pegged loan

For this option, the interest rate is pegged to the SIBOR, or the Singapore Interbank Offered Rate, plus a set percentage rate. SIBOR is a daily reference rate that fluctuates based on the interest rates that banks like HSBC Bank set when they lend unsecured funds to other banks in the Singapore wholesale money market.

This HSBC home loan stipulation has no lock-in conditions. The additional percentage rate options for new purchase or refinancing loans are 1.15%, 1.20%, and 1.50%, while the options for home equity loans are 1.30%, 1.35%, and 1.50%. For home loans secured for properties under construction, the additional rate is constantly at 1.50%.

HSBC home loan: SmartMortgage

This HSBC mortgage option ties a home loan account with a current account. Via this option, a certain amount of interest earned on the current account will be transferred to the home loan, effectively reducing the loan’s interest.

Are you looking for an HSBC home loan that will help you buy your dream home? Compare home loans with GoBear to find the best deal for you in 3 easy steps.

Compare-Home-Loans.png

Why compare at GoBear?

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I want to
a/an , and
it's .
PROPERTY STATUS
Has your property gotten a Temporary Occupation Permit (TOP) yet?

Yes: Select ‘already built’
If your property is a HDB, it should already be built.

No: Select ‘under construction’
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My dream home costs
${{criteria.property| number}}
,
so I’d like to borrowI’d like to refinance
${{criteria.amount| number}}
,
LOAN AMOUNT
For your first home you can borrow up to 80% of its value. For your second home you can only borrow up to 50%.

Better fill up that piggy bank!
+

and repay it over years.
HOW MANY YEARS TO REPAY MY LOAN?
You can take up to 30 years to pay back the loan for a HDB flat, and up to 35 for private property and ECs.

If you think you’ll take a while to pay back your loan, you better get it sorted quick – your loan repayment period can’t go past your 65th birthday.
+
You need to loan a minimum of ${{limitation.LoanAmount_Min|number}}.
You can only loan up to ${{limitation.LoanAmount_Max|number}} based on the value of your property.
You need to hold the loan for at least {{limitation.LoanTenure_Min|number}} years.
A maximum tenure of {{limitation.LoanTenure_Max|number}} is required for the property type.
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