HSBC Personal Loans

APR: 3.3% Representative
Loan amount: £1,000 - £25,000
Repayment duration: 12 - 96 Months
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HSBC Personal Loans customer reviews

1.4 out of 5 from 587 reviews


21:03 04-07-2016

Imagevia Choose Wisely

Applied for new 3.3% loan with very good credit. They took lots of time and then offered me an interest rate nearly 3 times that. Total rip off and waste of a credit check. Stay away


Great rates, instant payment

22:11 03-01-2018

Imagevia Smart Money People

Great loan rates and money paid straight into your account when approved. Excellent customer service.

Deborah Foster

No one knows

15:20 13-09-2011

Imagevia Choose Wisely

Recently opted for a £7000 business loan. Account opened but i had to call up to see what was going on after a week. Promises from the call centre and the branch manager and no one seems to know what is going on. Still havent had the loan despite it being approved over 3 weeks ago. All documentation has been signed and im not sure what is happening. Terrible.



00:52 21-09-2017

Imagevia Smart Money People

They were very friendly and did all possible to help me couldn't have asked for more

Andrew Maclaren

Early Settlement Fees - DOn't make me laugh

21:30 14-04-2011

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Whilst I have been a customer of HSBC for may years I am suprised at a change in their Loan practices which will makes these loans very very expensive if you pay them back early. I took a £5000 loan over 121 months and was happy with the payments until I decided to pay the loan off early 7 months later. Expecting (as I had previously found) to pay less than my statement as I expected not to pay 5 months interest, I was amazed to find that I was charged the whole 12 months interest! The explanation..... they now pre-load the loan with the interest so the first couple of months only pays their interest then you start paying the capital, so if you pay early you WILL be charged the full 12 months interest even if the term ends up being less than 12 months!



17:55 29-06-2017

Imagevia Smart Money People

Amazing low rates and nice scoring system! Good work

Mandeep Bargota

Don't get a small loan here

11:35 25-01-2011

Imagevia Choose Wisely

I recently got a Flexiloan from HSBC for £1000 and boy do I regret it now. The idea was great, a payment of £40 a month, the ability to withdraw money back out again without needing to renew the loan and if you pay it back earlier, you pay less interest. Great I thought, the rate was 16.9%, but I only wanted a small(ish) loan so I decided to put up with it. Since then I wish I hadn't done it. The bank seems to like charging me hidden extra's - the loan repayment scheme for instance. I was happy to pay it - but then found after 1 payment it went up!. The repayments themselves are ok, go out on time etc... but really it isn't worth a thing to me. I have since seen other loan offers and people like Tesco and other firms are offering lower rates and better conditions. Some companies also offer you their own protection plan which is cheaper in many cases. My advice is - look around before getting a loan, HSBC used to be good, but are currently going through a bad patch and this is NOT the time to get a loan from them. Being a member of the bank doesn't help at all either, no beneficial rates or anything.... Shop elsewhere for your loan.


Poor service

12:33 21-06-2017

Imagevia Smart Money People

Despite banking with Hsbc for 30 years still constantly receiving appalling customer services. Tiresome.

Anthony Atkinson

hsbc make money from your mis-fortune

11:34 25-01-2011

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I became redundant at the end of last year and owed @ £850 on a flexiloan with HSBC. As I had to claim benefits, I politely asked them to waive the re-payments until I able to pay them, hope-fully within a few months. I had banked with them for over 25 years and never, ever went overdrawn or made a late re-payment, however, they refused to show any interest in my circumstances and subsequently ramped- up ridiculous interest charges, created over-drafts without agreement at extortionate interest rates and systematically extorted an additional sum of over £1500 from me in 6 months and credit black-listed me! It appears to me that their head office have a policy that just makes things up as they go along and are masters of delay tactics, namely putting you on hold while they think of something. It is blatantly obvious to me that the policies of this organization are based on simple extortion and utter lies, of which I have clear proof, on the grounds that there is no way that incompetence and indifference can be so great. I look forward to bringing these views before an official hearing as soon as I can, because I am determined to have this company exposed for what it is


Fantastic low interest rate

06:39 11-06-2017

Imagevia Smart Money People

Easy to apply for and quickly approved, I got a fantastic rate for being a loyal HSBC customer. Great customer service.

Martin Rowley

Our review of HSBC Personal Loans

Our review by Alex
Written by: Alex
Consumer sentiment


HSBC is one of the best known banking and financial service companies in the world and offer loans between £1,000 and £25,000 to customers with good credit history. Their representative APR of 3.3% is one of the cheapest rates on Choose Wisely. You don’t have to be a HSBC customer to apply which can be a draw, but the application process can last up to five days, so it isn’t the best option if you’re looking for funds quickly.

One of the main features of the HSBC Personal Loan is that you can apply for it online, over the phone or in branch, this simplicity has gone some way to boosting their OPTIOSCORE of 76.7 which is pretty good. They also don’t charge any fees for overpayments which can reduce your interest the later you get into your loan term and you’re able to take a repayment holiday each January which is only a positive thing after the notoriously pricey Christmas period.

HSBC have the horrifyingly low score of 0.5 out of 10 on TrustPilot, however it must be said that this is across all the services they offer, rather than just the loans. Largely negative reviews are from dissatisfied customers who find it difficult to get in touch with HSBC about their issues which has left them feeling frustrated.

Overall verdict: If you have good credit and already bank (and are happy with) HSBC then this option could be worth looking into as they have one of the most reasonable interest rates on the market. However, make sure you’re confident that you’ll be accepted, as you don’t want a rejection to harm your credit file. It’s also worth remembering, that as if often the case with larger corporations, it may take a while to speak to a human on the phone if there are any problems – if you’re after a personal experience, steer clear.


  • Instant decision online for existing HSBC customers
  • Overpayments allowed
  • Repayment holidays available

Minimum criteria

  • You must have a bank or building society account
  • You must have an annual income of £10,000 or more
  • You must be a UK resident
  • You need to be aged 18 or over
  • You will need to have good credit history
  • Credit subject to status


  • Maximum APR 21.9%
  • Arrangement fee: £0
  • Early repayment fee: £0
  • Late payment fee: £0

About HSBC Personal Loans

HSBC offer personal loans from £1,000 to £25,000, to be paid back over a term of one to eight years, at a representative APR of 3.3%. This rate is available for loans between £7,000 and £15,000 and may alter once you have completed your application as HSBC will take your personal financial circumstances into consideration. To apply with HSBC you will need to have good credit history.

As an existing HSBC customer you could receive an instant decision on your loan once you have completed the application. Once they have the necessary paperwork HSBC can transfer the funds to your account straight away. However, for non HSBC customers they will contact you within two to five working days to let you know if your application is successful and then the loan could appear in your account within three working days from receipt of your documents.

Customers are able to take a repayment holiday for the first three months, or every January for the loan term but the interest for these periods will be added to the loan. Although there is a fee of one month’s interest for settling the loan early, you can make overpayments free of charge which will then reduce the amount of interest paid each month.

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