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HSBC Debt Consolidation Plan

debt consolidation loan
HSBC loan
loans

Features

Make loan repayments easier with the HSBC Debt Consolidation Plan. 

What are the benefits? 

  • Single repayment through consolidation bank account

  • Stretch your monthly repayments for up to 10 years

  • Interest rates from as low as 3.4% p.a. (EIR: 6.5% p.a.)

  • Complimentary HSBC Visa Platinum credit card

  • Free Credit Bureau Report

    How does it Work?

    HSBC Debt Consolidation Plan is a refinancing programme to consolidate the outstanding from all your existing unsecured credit facilities and is bundled with a revolving credit facility as a convenient model for managing your daily financial needs.

    • Debt consolidation loan

      Consolidate the outstanding balance from all your existing unsecured credit facilities into a term loan with fixed monthly repayment.

    • Revolving credit facility

      Manage your daily financial needs with an HSBC Visa Platinum credit card which gives you more savings.

      Apply for a HSBC Debt Consolidation Plan

       

      Are you eligible? 

      To apply for HSBC's Debt Consolidation Plan, you must meet the following requirements:

      • Nationality: Singaporean or Singapore Permanent Resident (PR)
      • Annual income : Between SGD30,000  and SGD119,999 for salaried  or between SGD40,000 and SGD119,999 for the self-employed or commission-based earner
      • Total interest-bearing balances^ in respect of unsecured credit facilities with financial institutions in Singapore exceeds 12 times monthly income

      ^ Interest-bearing balances include amounts rolled over on credit card and balances outstanding on unsecured loans that accrue interest.

      List of Supporting Documents You will Need:

      Photocopy of NRIC (front and back)

      Income documents:

      Submit This link will open in a new window Income and CPF statement using Myinfo (For Singpass users only)

      For salaried employees:

      • Latest 3 months' computerized payslips; or
      • Latest Notice of Assessment with latest 1 month's computerised payslip; or
      • Latest 6 months' CPF statements with latest 1 month's computerized payslip or latest Notice of Assessment;

      For self-employed/ commissioned-based earners:

      • Last 2 years' Notice of Assessment

      Latest Credit Bureau Report (consumer's version)

      Latest statements of the all existing unsecured credit facilities