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HSBC Personal Loan effectively @ 6.9%pa
HSBC Personal Loan effectively @ 6.9%pa
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HSBC Personal Loan effectively @ 6.9%pa

HSBC is offering Personal Loan at 8.9APR but there is a promotion going on.. it might cost you just 6.9pa

With Repayment Reward from HSBC, we'll refund 25% of the interest you have paid on the loan when you complete your loan repayments. This offer only applies to loans with more than 24 scheduled repayments and it will not apply if the loan is repaid early by you or terminated by us.
Based on a £9,000 loan over a 36 month period, the repayment reward reduces our 8.9% APR typical rate for car or home improvements to an equivalent rate of 6.9% pa.

8 Comments

Im pretty sure that 8.9% typical. A majority of people will be in the position they need the loan, so the bank/building society put the rate up to squeeze a bit more cash out of you. Thats my experience anyway.

That said, i guess 25% of your interest back is good, but probly forfeit if you miss/are late for a payment..so be careful

BFM

Banned

BurningFeetMan;2682252

That said, i guess 25% of your interest back is good, but probly forfeit … That said, i guess 25% of your interest back is good, but probly forfeit if you miss/are late for a payment..so be carefulBFM



You have to pay by DD, so no reason to forget, unless your finances are really messed up. I'm sure the typical rate was only 7.9% APR (instead of 8.9% ) only afew days ago :thinking:

id love to see how many people actually end up paying 6.9% on that one, the old "typical APR" spiel,lol

course Barclaycard are doing 6.8% for the life of the balance not sure if they charge a transfer fee though

Original Poster

LongDongDave;2682534

You have to pay by DD, so no reason to forget, unless your finances are … You have to pay by DD, so no reason to forget, unless your finances are really messed up. I'm sure the typical rate was only 7.9% APR (instead of 8.9% ) only afew days ago :thinking:



So why vote cold when I could not find any other Loan at 6.9%pa. I tried money supermarket, uswitch and moneysavingexperts ?? What is wrong if pay my installments on time?? :thinking:

I wish to take the loan invest overseas.... please advice.

Banned

jemo;2682718

id love to see how many people actually end up paying 6.9% on that one, … id love to see how many people actually end up paying 6.9% on that one, the old "typical APR" spiel,lol



I don't remember ever being offered an APR higher than the quoted one.
Every loan, credit card & mortgage I've taken out over the last 10 years or so, has come out at the quoted "typical APR".

I note, for this deal, you also have to operate an HSBC current account.

Original Poster

If it's so cold then at least show me, which one is cheapest?

POPS is right you have to operate a current account with HSBC to get that 25% benefit and you'll have to closely look out the terms and conditions of the loan to see "what if you miss a repayment?"

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Abby Nelson
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