HSBC offers a variety of home loan products for Indian citizens and NRIs (Non-Resident Indians) with loan amounts up to ₹40 crore. As of April 2023, HSBC home loan interest rates start at 8.75% for salaried borrowers and 8.85% for self-employed borrowers. For balance transfer home loans, the rates begin at 8.6% p.a., with the option to get a top-up loan of up to 150% of the loan amount at the same rate.
The maximum tenure for an HSBC home loan is up to 25 years for salaried applicants and 20 years for self-employed applicants.
This article provides an overview of the updated HSBC home loan interest rates for 2023 and other essential details.
HSBC Bank Home Loan Interest Rates 2023 Highlights
| HSBC Home Loan Type | Interest Rate (p.a.) |
|---|---|
| Home Loan | 8.75% onwards (for salaried) |
| 8.85% onwards (for self-employed) | |
| Smart Home | 9% or 9.4% onwards (for salaried) |
| 9.1% or 9.5% onwards (for self-employed) | |
| NRI Home Loans | 8.60% onwards |
| Sustainable Mortgages | 8.5% onwards |
Data sourced from the HSBC website on April 14, 2023
HSBC Home Loan Interest Rate Calculator
Calculating your home loan EMI before applying is crucial. It helps you understand the amount you need to repay to the bank over the loan tenure, allowing you to plan your finances accurately. Knowing your EMI in advance enables you to save adequately for emergencies and other needs without disrupting your repayment schedule.
You can calculate your EMI manually using a mathematical formula or use an online home loan EMI calculator for instant and accurate results. This free online tool requires you to enter your loan amount, interest rate (p.a.), and tenure (in years). The calculator will then instantly display your EMI amount, total interest, and total repayment (principal + interest).
