Spread your repayments over one to five years for Personal Loans of £15,000 and less.
Spread your repayments over one to eight years for Personal Loans of over £15,000.
The first repayment is due 30 days from drawdown.
If you are eligible and choose the deferred start option the first repayment is due 3 months from the date of drawdown.
Repayments will be taken monthly from your nominated current account.
Take a repayment holiday for the first three months or every January for the life of the loan.
You need to request this when you apply for the loan.
The 3 month option must be taken at the start of the loan, and can't be offered where more than 70% of the loan is for refinancing existing borrowing.
Neither of these options are available when refinancing an existing Personal Loan where you've made five or less repayments.
If you choose to take a repayment holiday, more interest will be payable overall.
Debt consolidation considerations
If you are using any part of this loan to pay off or reduce existing loan(s)/debts (including combining these into a single loan), it is important to consider not just the interest rate and monthly repayments, but also the term of this loan compared to the remaining term of your existing loans/debts.
Spreading your payments over a longer term means you could end up paying more overall than under your existing arrangements, even if the interest rate on this new loan is less than the rates you are currently paying.
You should also consider if any early repayment charges apply and if this form of borrowing is appropriate for your circumstances.
You can repay your loan in full at any time by giving us notice in writing, by visiting a branch or by calling us on 03456 00 61 61.
Once you've given us notice, we'll give you a settlement figure. It's necessary to pay all the amounts owed if you wish to close the loan.
Where you make an early repayment, there may be a reduction in the amount of interest you'll have to pay and this will be reflected in the settlement figure.
There is also a charge of one month's interest for repaying your loan early.
If you foresee changes in your circumstances that may increase your outgoings or reduce your disposable income, please apply by telephone or branch for further guidance.
Changes to consider are:
Employment changes; imminent retirement, maternity or paternity or extended leave.
Reduction in working hours; fixed contracts end dates or zero hour contracts.
Increase in living costs; rent or mortgage repayments.
Interest is calculated on a daily basis. At the beginning of the loan we work out the interest you will pay over the whole period of your loan and add this to your loan balance.
Apply for additional borrowing
You can apply to borrow more money using telephone or branch banking
If you've made five or less repayments on your existing Personal Loan, you won't be eligible for the January holiday or three month deferred start option on your new loan should your application be successful.
Our credit facilities
You can get full details of our credit facilities, including a written quotation from any of our branches, by writing to:
HSBC Bank plc
PO Box 757
Or call us on:
0800 032 4735
Lines are open from 8am to 10pm every day (except for Christmas Day, Boxing Day and New Year's Day).