HSBC

HSBC

(4.2/5) 203 voice
The Hongkong and Shanghai Banking Corporation

1. Age

Age from

2. Time to review

From application to receipt of money

3. Other conditions



Product Overview

Product Name:HSBC Personal Loan
Remarks:With low interest rates and affordable installment terms
Minimum Amount of Loan:30,000 PHP
Maximum Amount of Loan:500,000 PHP
Minimum Loan Tenure:6 months
Maximum Loan Tenure:36 months
Early Repayment:To be computed

Eligibility and Requirements

Age Range of Borrower:21-60 years old
Minimum Annual Income:PHP168,000.00
Income Requirement Remarks:Requires PHP14,000 gross monthly income for employed individuals and PHP50,000.00 for self-employed
Employment / Work Status:Permanent Employee for 2 years / 2 years Business Operations for Self-employed / 2 years of Practice for Professionals / Government Employee for 2 years
Borrower has to have Credit Card:Yes
Guarantor Required:No
Collateral Required:No
Other Requirements:Should have any 2 of the following : Residence landline, office landline or mobile phone number
Need to Open Linked Bank Account:No

Application and Approval

Application Channel:The Hongkong and Shanghai Banking Corporation
Approval Duration:5 business days
Approval Duration Remarks:Know if your approved in as early as 5 days after submitting all the required documents

Fees and Charges/Penalties

Loan Processing and Dispersal Fees:PHP1,500.00 processing fee to be deducted from loan proceeds and PHP750.00 for 24 and 36 month tenor
Early Repayment Penalty:Special conditions as per banks Terms and Conditions
Late Payment Penalty:36% per annum on overdue payment

Interest Rates Offered

Product Name:Interest RateEffective Interest RateInterest Type
HSBC Personal Loan - 6 months1.29%2.17%Monthly Rate
HSBC Personal Loan - 12 months1.22%2.17%Monthly Rate
HSBC Personal Loan - 18 months1.21%2.17%Monthly Rate
HSBC Personal Loan - 24 months1.22%2.17%Monthly Rate
HSBC Personal Loan - 36 months1.25%2.17%Monthly Rate


About The Hongkong and Shanghai Banking Corporation

The bank is one of the largest in Hong Kong. It works not only in China, but throughout the world. Banknotes for the Hong Kong government. Has a license to conduct banking activities. The date of foundation is 1865.

History

Initially, Hong Kong was a colony of Britain. It was founded immediately after the end of the opium war. When it became clear to merchants from different parts of the empire that it would be impossible to do without a private bank – HSBC was founded. Initially, its main purpose was to finance trade through Hong Kong. Goods were shipped through China: food, opium and others.

An office for Hong Kong was opened in March 1865. In Shanghai – in April of the same year. The founder is Thomas Sutherland. He was an authorized representative of Peninsular and Oriental Steam Navigation. Initially, the cost of renting the room where the bank was located was only $ 500. Share capital was only 5 million Hong Kong dollars.

The first operations were carried out on March 3, 1854. A branch opened in Shanghai was used to issue local money. HSBC was registered in Hong Kong. One of the branches was opened in Yokohama in 1866 already. Bank securities were traded on the stock exchange in the amount of 13 units. Sale lasted until 1941. After the start of the war on the territory of the USSR, the Japanese closed the auction. The first consumer loan was issued in 1874.

In the future, the bank more than once issued various government loans.

Ownership of the HSBC

Over time, the influence of the bank expanded. One of the most important events in its history occurred in the 1980s. The manager at the time was Michael Sandberg. He acquired a 51% stake in Marine Midland Bank. This financial institution was one of the largest in the United States of America. A little later, the expansion was continued. Purchased by Bank Canada.

The merger process with the latter was completed already in 1981. An equally important milestone in the history of development was the purchase of Hongkong Bank of Australia Limited. Today it is designated as HSBC Bank Australia Limited. Joining the HSBC group occurred in 1987. At the same time, the number of shares of the company Marine Midland Bank, owned by HSBC, increased to 100%.

The purchase of shares in the amount of 14.9% of Midland Bank credit company was carried out. Today the head office of the bank is located in a building in Hong Kong. It is designed to meet all international requirements for the security of credit institutions. The architect and designer is Sir Norman Foster, Baron Foster of Thames Bank. The construction of the bank building was completed in 1986. At the time of completion of the project, the complex was one of the most modern buildings in the world, equipped with the latest technology. The project cost amounted to 5,300,000,000 Hong Kong dollars.

A little later, the central office was moved to London. The main reason is the need to comply with the requirements of supervisory authorities. The date of the event is 1992. For 2018, HSBC is the largest issuer – in the total amount of money supply, the share of monetary units issued by it is 67.7%.

A feature of this bank and the country in general is that private commercial enterprises are allowed to issue their own monetary units. This is no longer in any country in the world. In addition to major acquisitions, there are other, less notable HSBC purchases. For example, in 1965, the acquisition of shares of Hang Seng was carried out – more than 62.14%. For all its existence, the bank has made many acquisitions. Investment amounts are measured in several trillions of Hong Kong dollars.

Main branches and ATMs of the HSBC

The Hongkong and Shanghai Banking Corporation in the Philippines has more than 600 branches in twenty countries in the Asia-Pacific region. In addition, there are offices in other countries. The following divisions are under control:

  • Bank Australia Limited;
  • Hang Seng Bank Limited;
  • Bank (China) Company Limited;
  • Bank Malaysia Berhad (since 2009);
  • Bank (Vietnam) Limited;
  • Bank (Taiwan) Limited and HSBC Insurance (Asia-Pacific) Holdings Limited;
  • Barrowgate Limited (24.64%) and Industrial Bank.

HSBC has been operating in Bangladesh – more than 20 years ago, since 1996. On the territory of the country there are several dozen branches. In some strange, on the contrary, HSBC activity ceases. Mostly for economic reasons. For example, from April 6, 2016, the activities within the global project HSBC Group cease. November 10, 2017 all branches in Brunei stopped their activities.

HSBC conducts its activities in India. In 1959, Mercantile Bank of India, London and China was acquired. There are branches, representative offices in other countries: Indonesia, Japan, New Zealand, South Korea. HSBC – one of the largest banc in the world.



Contacts

  • Address: 7/F HSBC Centre, 3058 Fifth Avenue West Bonifacio Global City, Taguig City 1634 Philippines
  • Phone: +63(2) 85-800
  • Email: [email protected]

FAQ


Employed:

  • Latest Income Tax Return (ITR) or BIR Form and original pay slip (one whole month)
  • Photocopy of valid government issued ID with photo
  • Copy of latest billing statement to residential address
  • If foreign national, a copy of valid resident visa or copy of valid non-resident visa considered by BSP as eligible for peso loans

Self-Employed:

  • ITR and audited Financial Statement for the last 3 years
  • SEC/DTI Certificate of Registration
  • Business or Mayor’s Permit
  • Photocopy of Valid ID (same as Employed)
  • Bank statement for the past three months (at least one year active)
  • Proof of residential address
  • If foreign national, a copy of valid resident visa or copy of valid non-resident visa considered by BSP as eligible for peso loans
  • You may pay either through Post-dated check, Auto-debit facility (ADA) for customers with HSBC existing HSBC deposit account, or through Payment Centers.
  • Applicant must be at least 21 years old and not older than 60 years old upon loan maturity, must be a permanent resident in any of the HSBC pre-determined areas for at least 3 years.
  • Must have a gross monthly income of PHP14,000.00 for all salaried/employed individuals and PHP50,000.00 for self-employed individuals
  • Employed applicants must have 2 years combined employment with present or previous employer, and self-employed applicants must have a minimum of 3 years business existence.
  • Residential landline or office landline, and mobile number are required.
  • Claim your loan by personally going to the HSBC branch you indicated on your application form.

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