HSBC re-introduces Home Loans exclusively for Premier and Advance customers

HSBC has re-introduced Home Loans to support the financial needs of both Premier and Advance customers with attractive interest rates of 9.95% and 10.50% respectively p.a. as a special re-introductory offer. 

Whether a customer is a first time home buyer, ready to invest in a second home or wishes to re-finance an existing mortgage with another bank, HSBC Home Loans are structured to support their ambitions with the following key benefits; 

• Higher loan value ranging from 10 m to 50 ,
• Loans offered to purchase a completed property or apartment
• Maximum repayment period of 25 years 
• Preferential interest rates – fixed on a quarterly basis 
• Loan granted is up to 70% of the property value 
• Flexible payment options: Fixed equal monthly installments or reducing balance payment plans 
• Ability to apply jointly with spouse 
• No early settlement or pre-payment fee 

“During the past few years, the real estate and property market has grown significantly especially when you consider residential housing and condominium style apartments. We have seen an influx of apartment projects, with a higher ratio being predominantly owned by the affluent and high net worth individuals who continue to invest in tangible real estate assets. As we continue to focus on the personal banking needs of our customers who enjoy global propositions - HSBC Premier and Advance, we are happy to re-introduce HSBC Home Loans with competitive interest rates, flexible repayment options with unmatched service to help customers pursue a key ambition in life - purchasing one’s home, either as a first time home buyer or an investor of a second home,” said Nilantha Bastian, Head of Retail Banking and Wealth Management. 

HSBC Premier Customers can now use the opportunity to work with their own Relationship Manager to structure a home loan, giving them more flexibility and the ability to tailor their repayment of the home loan. HSBC Advance customers can walk into any HSBC branch to apply for a home loan. 

To be able to apply for an HSBC Home Loan, customers need to meet the following eligibility criteria; 

• Existing HSBC Premier /Advance customers 
• Between 18 and 55 years of age 
• Sri Lankan national residing in Sri Lanka with confirmed employment 
• Earning a net remuneration of Rs. 200,000* (net salary + fixed allowances) and able to meet the repayment commitment 
•  *In the event of a joint application, 100% of spouse’s income will be taken for income assessment