HSBC Home Loan Balance Transfer

HSBC Bank

WarningMessage This product is by the Bank

Home Loan Balance Transfer

minimun salary

Minimum Salary

AED 15K

flat rate

Flat Rate

1.8%

reducing rate

Reducing Rate

3.24%

max loan

Loan Amount

AED 20000K

early settlement fee

Early Settlement Fee

1%

arrangement fee

Arrangement Fee

0%

down payment

Down Payment

25%

repayment

Repayments Up To

25 Years

Apply Now
minimum salary

AED 15K

Minimum Salary

flat rate

1.8%

Flat Rate

reducing rate

3.24%

Reducing Rate

max finance

AED 20000K

Loan Amount

early settlement fee

1%

Early Settlement Fee

arrangement fee

0%

Arrangement Fee

down payment

25%

Down Payment

repayment

25 Years

Repayments Up To

Apply Now

View details on bank page

Features

  • Approval in principle provided in 60 minutes
  • Both salaried and self-employed with regular income may apply for this scheme
  • Outside UAE customers applying for this scheme will only be considered if they are Premium customers and they are also meeting HSBC lending requirements
  • Aged 21 to 65 years can apply for HSBC New Home loan
  • Minimum salary of AED 15,000 is required
  • Provides financing at an interest rate of 3.24%
  • The reduction rate and the flat rate is 3.24% and 1.8%. This denotes that the computation done was a division of the reduction rate by 1.8.
  • Finance up to AED 20,000,000
  • It has 0% arrangement fee
  • The early settlement fee is 1% of the outstanding loan amount.

Benefits

  • Finance available for ready properties with deeds
  • It is not a requirement to transfer your money to apply
  • You can apply for an equity release or a top up on your home loan with HSBC and get extra funds for renovations
  • Finance repayment period of up to 25 years
  • Approval of loans are quick
  • A dedicated team of mortgage advisors will answer all your queries
  • Finance amount of up to 75% of the purchase price or the professional valuation, whichever is lower
  • Fixed rate for 2 years. Thereafter it is variable.

Frequently Asked Questions

Q. Do I have to have an HSBC Bank account to apply for an HSBC Home loan?

A. Yes. However, you can apply without being a current HSBC customer and we will arrange an appropriate account for you if you are approved for a home loan.

Q. How do I apply for HSBC Home loan?

A. To apply for an HSBC Home Loan you can call toll–free 800 HOUSE, visit your nearest branch or thehsbc.ae.You can discuss your needs with a member of the HSBC Home Loan team, who will conduct an initial fact-find interview to ensure that you have a full picture of what is required.

Q. Who is eligible for HSBC New Bank loan?

A. Customers earning an income of AED15,000 per month and above (or equivalent in other currencies), who wish to purchase a property from one of the selected developments for which HSBC is providing finance, subject to meeting HSBC's lending criteria.

Q. What are the advantages of HSBC Home loan?

A. We offer competitive home loan rates with no financial penalties if you repay the loan in full before the end of the Repayment Period after the first 3 years (administrative charges will apply for loan closure).You can also overpay throughout the term of the home loan (subject to minimum and maximum overpayment requirements) see our Schedule of Tariffs for further details.

Q. How is interest for HSBC Home loan calculated?

A. Interest is calculated on the daily principal balance outstanding on your home loan account. Your monthly installment will be applied to your outstanding balance, plus the interest accrued.

HSBC

In 1946, the British Bank of Iran and the Middle East commenced banking activities for Middle East citizens. Post withdrawing from Iran, the bank was renamed as the British Bank of the Middle East (BBME). Hong Kong and Shanghai Banking Corporation (HSBC) acquired BBME in 1959 and played a pivotal role in the establishment of the banking sector in the region. HSBC has a sustainability strategy of doing business. The main areas of focus are:

  • Sustainable Finance
  • Sustainable Operations
  • Sustainable Communities

This is in sync with their global sustainability model.

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