HSBC Bank USA Personal Loan Review

HSBC Bank USA Personal Loan is offered by HSBC Bank USA, a bank founded in 1865 and based in New York, NY. HSBC Bank USA Personal Loan is available in 49 states (and Washington, DC).

Key takeaways

• Fast access to cash. In some cases you can get your money within 1 business day.
• Fair credit accepted. The credit score needed for HSBC Bank USA Personal Loan is relatively low. Borrowers with a credit score as low as 650 may qualify for HSBC Bank USA Personal Loan.
• Large loan amounts. You can apply for loan amounts of up to $50,000 with HSBC Bank USA Personal Loan.
• No origination fee. HSBC Bank USA Personal Loan does not charge a loan origination fee.

HSBC Bank USA Personal Loan Pros and Cons:

Pros	Cons
Low APRs available to qualified borrowers. $0 prepayment fee. $0 origination fee. Considers applicants with poor credit. Fast funding.	Charges a late fee. No co-sign option.

What rates and terms does HSBC Bank USA Personal Loan offer?

HSBC Bank USA Personal Loan has lower interest rates than the average for lenders reviewed on SuperMoney.

What fees does HSBC Bank USA Personal Loan charge?

What do you need to qualify for HSBC Bank USA Personal Loan?

Applicants with a credit score of at least 650 and up to 850 are eligible for HSBC Bank USA Personal Loan. The minimum age to be eligible is 18 or the state minimum, whichever is higher.

HSBC Bank USA Personal Loan does not have or does not disclose a minimum annual income eligibility requirement. HSBC Bank USA Personal Loan only considers borrowers who are employed.

The Military Lending Act (32 C.F.R. § 232) prohibits lenders from charging service members more than 36% APR on credit extended to covered borrowers. Active duty service members and their covered dependents are eligible to apply for a loan via HSBC Bank USA Personal Loan. Their rates fall within the limits of The Military Lending Act.

U.S. citizens are, of course, eligible for the services offered by HSBC Bank USA Personal Loan. Permanent resident / green card holders are also eligible to apply.

To qualify, applicants may need to provide the following documentation:

• Applicants must have an active and valid checking account
• Proof of income
• Government issued photo ID
• Proof of identity
• Proof of residence

HSBC Bank USA Personal Loan Eligibility Criteria

Minimum Age	18
Bank Account Required?	Yes
Credit Score	650 - 850

What is the estimated funding time for a personal loan via HSBC Bank USA Personal Loan?

HSBC Bank USA Personal Loan will typically approve (or deny) a loan application within 1 hour and fund personal loans within 4 business days of approval.

Does HSBC Bank USA Personal Loan report your account activity to credit bureaus?

HSBC Bank USA Personal Loan reports your account activity to the following credit reporting agencies:

• Equifax
• Experian
• Transunion

Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and can help improve your credit score.