HSBC (The Hongkong and Shanghai Banking Corporation) is an international bank headquartered in London with 40 million customers[1] worldwide. As HSBC is one of the world’s biggest banks, you might think your HSBC personal loan application can’t be approved.
But with exciting features and customer-friendly terms, the personal loan product from HSBC[2] is always worth a try. Keep reading to learn more about this personal loan in the Philippines and be ready to submit your HSBC personal loan application to help ease out your financial needs.
What is HSBC Personal Loan?
The HSBC personal loan is a financial product offered to those who wish to secure funds for their needs. This unsecured loan doesn’t require collateral as security for the loan. You also don’t need a guarantor or co-borrower to be approved.
What Can I Use the HSBC Personal Loan for?
There are a lot of ways to use your HSBC personal loan. Once you get approved for a loan, you can cover your financial needs or meet a financial goal, like any of the following purposes below.
☑️ Start or Expand a Business
Have you been planning to start an online business? The HSBC personal loan amount, which ranges from PHP 30,000 to PHP 500,000 or three times your monthly salary (whichever is lower), can be used for starting a business.
There are a lot of business ideas you can start from home such as a sari-sari store, a loading business, online tutorial, graphic design, and baking. Starting a business can help you set aside enough money for your daily needs and HSBC personal loan payment.
☑️ Debt Consolidation
The hard times brought about by the pandemic aren’t over yet. If you have unpaid debts, the HSBC personal loan can be used to consolidate them into one account, so you can more easily pay them off. Debt consolidation is a practical reason for borrowing money, especially if you can get a personal loan with a much lower interest rate than your existing debts.
☑️ Tuition and Other School Expenses

Parents like you need enough funds to send their kids to school. Distance learning has prompted you to buy gadgets and a home-school set up to create a learning space for your child. The HSBC personal loan can be used to pay for your child’s tuition and equipment for online classes like a laptop, desktop, noise-canceling headset, printer, and other school essentials.
☑️ Emergencies
Having cash on hand can give you the peace of mind knowing that you can address financial emergencies without struggling to borrow from other sources. More often, personal loans from HSBC and other banks cost less than emergency loans from private lenders.
Why Should You Apply for an HSBC Personal Loan?
The HSBC personal loan is one of the most affordable personal loans in the Philippines today. With the following features, this loan will certainly help make the most out of your borrowing.
📌 Low Add-On Rate per Month
HSBC lets you borrow money with an add-on rate of 0.65% per month or an annual effective rate of 14.29%.
📌 Fast Approval

No need to wait too long for any feedback about your HSBC online personal loan application. The typical HSBC processing time takes three to five days after submitting all documents.
📌 Customizable Payment Terms
When borrowing from HSBC, you have the freedom to choose your loan tenor from 6, 12, 18, 24, or 36 months.
📌 Convenient Payment Channels
Making your HSBC personal loan payments can be easy with the following authorized payment channels:[3]
Payment Channel | Accepted Payment Mode | Requirements |
---|---|---|
ATMs of BancNet member banks | Transfer from BancNet bank account | Must be an ATM account holder of any BancNet member bank |
BPI ATM, Express phone or Express Online | Transfer from BPI account | Must be a BPI account holder and enrolled in BPI 24/7 Banking bills payment service |
EasyPay machines at any HSBC/HSBC Savings branch | Cash or check | HSBC Personal Loan account number |
Local payments from any local bank (borrower's brand of account) | Transfer from a bank account and credit to HSBC Personal Loan account | Must be an account holder of any bank in the Philippines. The account name in the request should be "HSBC C/O CAS DEPT" |
ATMs of any Megalink member-banks | Transfer from Megalink bank account | Must be an account holder of any Megalink member-bank |
All bills payment counters at SM Department Stores, SM Hypermarkets and SM Supermarkets | Cash or check | Personal Loan statement with barcode |
Unionbank ATM or Unionbank Internet banking | Transfer from UnionBank account | Must be a Unionbank depositor |
Read more: All Digital, No Hassle: How to Get an ING Loan in the Philippines
📌 Loan Top Up
The HSBC Loan Top-up feature allows you to re-avail or renew your loans even before the current loan is not yet paid in full. The balance from the current loan will be consolidated as a new loan. You may apply for a loan top up if:
- Your existing loan account with HSBC is at least six months already.
- You have no missed payments.
- Your account is not delinquent.
Once you decide to apply for an HSBC personal loan top up, you may do the following:
Fill out and submit your application form.
Submit all the requirements together with your application form through your HR personnel or your Relationship Manager.
Your loan top-up application will be subject to credit evaluation. Being an existing HSBC borrower does not automatically qualify you for an HSBC personal loan top-up.

How Do I Qualify for an HSBC Personal Loan?
You must meet the following requirements to be eligible for an HSBC personal loan:
- Permanent resident of the Philippines for at least three years in any of the following areas: Metro Manila, Bulacan, Pampanga, Metro Cebu, Cavite, Davao City, and Rizal
- Above age 21 during loan application but below 60 years old upon loan maturity
- Minimum gross monthly income of PHP 14,000.00 (for salaried/employed in all other areas) or PHP 50,000.00 (for self-employed)
- For employed applicants: Two years combined employment with a present or previous employer
- Have any two of the following: residential landline, office landline, mobile phone number
What are the HSBC Personal Loan Requirements?
The required documents for your HSBC personal loan application depend on whether you’re self-employed or employed.
📝 Loan Application Requirements for Employed Borrowers
- Latest Income Tax Return (ITR),BIR Form W-2, or any valid ITR alternative
- Latest one-month payslip
- Photocopy of valid photo-bearing ID (passport, driver's license, PRC ID) with proof of nationality and date of birth; must be original-sighted by the sales officer
- Proof of Residential Address (PORA)
- Duly signed Terms and Conditions with Global Consent Clause
- Additional requirements for foreign nationals::
- Copy of valid resident visa or copy of valid non-resident visa considered by the Bangko Sentral ng Pilipinas (BSP) as eligible for peso loans
- One-year residency in the Philippines
📝 Loan Application Requirements for Self-Employed Borrowers
- ITR and Audited Financial Statement for the last three years (same business)
- SEC/DTI Certificate of Registration
- Business Permit or Mayor's Permit
- Bank Statement for the past three months (at least one year active)
- Photocopy of valid photo-bearing ID (passport, driver's license, PRC ID) with proof of nationality and date of birth
- Proof of Residential Address (PORA)
- Additional requirements for foreign nationals:
- Copy of valid resident visa or copy of valid non-resident visa considered by BSP as eligible for peso loans
- One-year residency in the Philippines
HSBC Personal Loan Application Steps
Qualified and ready to apply for a personal loan from HSBC? Here are the steps you need to take.
- Fill out and submit your application form (Personal Loan application forms are available at all HSBC Branches)
- Submit all the requirements together with your application form. You may forward your application through an HSBC branch near you. Alternatively, you may upload your documents online.[4]

Make sure that the documents meet the following specifications:
- File format: GIF, JPG, PNG, or PDF. If your document is of a different format, you can open your file, select “Save As” and then select GIF, JPG, PNG, or PDF
- File size: less than 5 MB per file
- Maximum of five files per upload
- The file name should not exceed 50 characters or contain any special characters.
- Not a password protected file
What are the HSBC Personal Loan Fees?
Your HSBC personal loan comes with fees and other charges based on the terms and conditions set by HSBC in compliance with the BSP:
- Processing fee: PHP 1,500 (deducted from the loan proceeds)
- Late payment fee: 36% per annum
- Amendment fee: PHP 500 for any changes in loan details
- Breaking cost: computed upon application or loan pre-termination
- Documentary stamp tax (DST): 0.75% of the loan amount deducted from the loan proceeds
HSBC Personal Loan FAQs
1. Can I apply for an HSBC personal loan in joint names?
No. HSBC does not allow joint personal loan applications.
2. Can I get a personal loan from HSBC if my salary is PHP 15,000?
Yes. The minimum salary required for HSBC personal loan is PHP 14,000 per month.
3. How do I receive my HSBC personal loan proceeds?
Once your HSBC personal loan application is approved, you need to go personally to the HSBC branch you have indicated in your application form any time from 9 a.m. to 4 p.m., Mondays to Fridays.
4. When should I make my HSBC personal loan payment?
Your cash or check payment should be made three days before the due date to give enough time for it to be posted before the deadline.
5. How much is my monthly HSBC personal loan payment?
Your monthly repayment will depend on the loan amount, loan tenor, and approved rates and fees. To know your monthly loan amortization, you may refer to the HSBC Personal Loan Amortization table.[5]
6. What payment schemes can I choose from?
You may choose any of the following:
Straight-Line Scheme – Your monthly amortization is fixed, and you can have a forecast of the entire amortization cost to help you manage your finances more easily.
Balance Scheme – Your monthly amortization varies because the principal loan amount is paid early within the loan tenor, so you can save on interest payments.
7. How do I make my HSBC personal loan payment?
You can pay your HSBC personal loan through post-dated checks, auto-debit facility (only for customers with an existing HSBC deposit account), or HSBC’s partner payment centers.
8. How do I make an HSBC personal loan payment through checks?
Here are a few things you should remember when making a check payment for your HSBC personal loan:
- The checks should be made payable to HSBC – Personal Loans
- Should bear your full name and 12-digit account number at the back of the check.
- Post-dated checks and second- endorsed checks are not accepted.
9. How do I pre-terminate my HSBC personal loan?
You may pay your full balance before the end of the loan term by calling the HSBC Customer Service Hotline (02)-85-800 or go directly to your branch of account to confirm your outstanding balance and charges for pre-termination fee. NPlease note that HSBC will charge a Breakfunding fee for early termination processing.
Final Thoughts
HSBC personal loans are tailored to specifically suit the needs of Filipinos. Although this loan product is made with exciting features, you must not forget that HSBC personal loans come with fees. Any failure to pay on time and in full will come with consequences, too.
If you think you’re ready for a personal loan to fund emergencies and financial goals, submit your HSBC personal loan application easily and quickly through Moneymax.
Check Out Other Loan Options in the Philippines
Considering exploring other personal loans in the Philippines? Among the best options in the market nowadays are Citibank, BPI, RFC, and SB Finance personal loans. Compare your options and apply for a personal loan here at Moneymax!
Sources:
- [1] About HSBC
- [2] Information on HSBC Personal Loan
- [3] HSBC Personal Loan Payment Channels
- [4] HSBC Online File Upload Service
- [5] HSBC Personal Loan Amortization Table