HSBC Bank USA Personal Loan

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

• APRs starting at 5.99%. Personal loan interest rates typically range between 5% and 36%. The starting rates for HSBC Bank USA Personal Loan are on the lower end of the spectrum.
• Fast access to funds. In some cases, you can get your money within 1 business day*.
• Large loan amounts. You can apply for loan amounts of up to $50,000 with HSBC Bank USA Personal Loan.
• Prequalified rate. You can check your prequalified rate at HSBC Bank USA with a soft pull that will not affect your credit score.
• No origination fee. HSBC Bank USA Personal Loan does not charge a loan origination fee.

HSBC personal loan Pros & Cons

Pros	Cons
Low APRs available to qualified borrowers. $0 prepayment fee. Loan options with $0 origination fee. Considers applicants with fair credit. Funding available within 4 business days.	Charges a late fee.

HSBC personal loan FAQ

What interest rates and personal loan terms does HSBC personal loan offer?

HSBC personal loan has lower than average interest rates for lenders reviewed on SuperMoney.

What fees does HSBC 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 may be 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 personal checking account
• Proof of income
• Recent bank statements
• Government issued photo ID
• Proof of identity
• Proof of residence

HSBC 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 personal loan?

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

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

Yes, 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 may help improve your credit.

Is HSBC Bank USA a legit company?

HSBC Bank USA was founded in 1865, it is a well-established company that has been in business for 157 years. Based on their "strongly recommended" SuperMoney community rating, they appear to be a very reputable company.