HSBC Debt Consolidation Plan
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)
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