loan personal loans car loans bank loans homeowner loans loan guides
Personal LoansPersonal Loans
AA Personal LoanAA Personal Loan
Abbey National Personal LoanAbbey National Personal Loan
Bank of Scotland Personal LoanBank of Scotland Personal Loan
Direct Line Personal LoanDirect Line Personal Loan
Halifax Personal LoanHalifax Personal Loan
HSBC Personal LoanHSBC Personal Loan
Personal Loan ExpressPersonal Loan Express
Royal Bank of Scotland Personal LoanRoyal Bank of Scotland Personal Loan
Sainburys Personal LoanSainburys Personal Loan
Tesco Personal LoanTesco Personal Loan
Car LoansCar Loans
Bank LoansBank Loans
Homeowner LoansHomeowner Loans
Loan GuidesLoan Guides

HSBC Personal Loan

The HSBC Personal Loan has unnaturally high rates, but offers plenty for the smaller borrower, or folks who occasionally "drop into the red". A reliable brand, a good site, just not the best rates.

HSBC Personal loan examples (correct at publication date, uninsured, these apply to personal loan and not Flexiloan product):

  Monthly Repayment APR
£3000 across 2 years £144.00 14.9%
£5000 across 5 years £113.99 13.9%
£10000 across 7 years N/A N/A

Like all the banks HSBC complicate things, but to help you through, there is a "decision maker" which asks what you're buying and tells you the ideal thing to do (this includes credit cards and overdrafts). Now, I must be honest and tell you that the HSBC Personal Loan "decision maker" isn't for your benefit, it's for their benefit- but it is a worthwhile tool, even if you want to borrow from somebody else. Go check it out.

HSBC look after smaller customers best- they're about the only operator who will lend you, for example £500 over 6 months (why you'd do that I don't know). They can do this small-scale lending, because they're fleecing you: at 13.9% their rate is almost double what you'll find if you shop around.

But there are other HSBC Personal Loan options. Flexiloan is a sort of permanent pot (up to £5,000) you can dip into whenever you need. This is definitely the sort of product to go for if, for example, you always find yourself £100 short at the end of the month. In the old days that meant you kept paying an unauthorised overdraft fee- now it's just part of a personal borrowing plan. You can repay the Flexiloan in a lump sum if you wish, with no penalties.

The HSBC Personal Loan site is very well organised (compared to e.g. NatWest's effort) and it's easy to apply, get brochures or find a branch. There is one downside, there are absolutely no details (cost, benefits) of the payment protection plan on-site; be sure to ask before you buy: remember many companies automatically quote with protection insurance.