HSBC Review

Sarah Pritzker

In a Nutshell

HSBC Bank USA, an American subsidiary of the UK-based global banking giant HSBC, offers online and physical banking services across the US. One of its main products is the unsecured personal loan, which it offers to residents of all states except Wisconsin. Provided you’re at least 18 years old and have a 700+ credit score, HSBC accepts personal loan applications online and in 230 branches around the United States.


  • Funding next business day after closing
  • No payment in first month
  • No annual, application, or prepayment fees


  • Not available in Wisconsin or US territories
  • HSBC customers don’t get any additional benefits

HSBC HSBC Visit Site

HSBC Bank USA at a Glance

Loan types: Unsecured personal loans

Loan amount: $3,000 - $30,000

Repayment terms: 24 – 60 months

APR: 6.99% - 22.99%

Minimum credit score: 700+

Best for: Getting a competitive loan directly from one of the world’s largest banks

Direct lender or marketplace: Direct lender

Best For?

When it comes to getting a personal loan online, there are broadly 2 options: use a loans marketplace to compare and connect with multiple lenders; or go directly to a specific lender. When choosing the latter, it’s a good idea to stick to direct lenders with solid reputations—and HSBC Bank USA undoubtedly makes the grade. Over the years, HSBC has built up a strong reputation with American consumers. Its personal loans come with competitive rates, flexible repayment terms, and reasonable minimum requirements.

Loan Features

An HSBC personal loan offers largely the same benefits as a personal loan from any other lender, as well as some added benefits exclusive to HSBC borrowers.

Here are some of the highlights of a personal loan from HSBC Bank USA:

  • Loan can be used for any purpose, including debt consolidation, home improvement, paying off student loans, or funding a major expense.
  • Applications may be made online or in one of approximately 230 HSBC branches across the United States. 
  • Upon approval, your money will be deposited into a bank account at a US bank of your choice.
  • Fixed monthly payments.
  • No payment due in first 50 days from account opening.
  • No origination, prepayment, or annual fees.

Application Process & Requirements

New HSBC customers may check their rate and terms online in as little as 5 minutes, with no impact on credit score. Existing HSBC customers have the added option of asking for a rate quote in one of the 230 HSBC branches around the United States. 

It takes only a few minutes to get a pre-qualified loan offer. Once that’s done, you can go ahead and apply formally for a personal loan. Funds are usually transferred next business day after the application has been approved and you have signed the promissory note.

To qualify for an HSBC personal loan, applicants must:

  • Live in the United States (excluding Wisconsin and US territories).
  • Be at least 18 years old (or at least 19 for Nebraska and Alabama residents).
  • Have a credit score of at least 700.
  • Provide proof of income.
  • Proof a bank statement from a checking, savings, or certificate of deposit account with any US financial institution.

APRs, Loan Amounts & Repayment Terms

Compared to other major American banks, HSBC offers competitive rates and flexible terms. Each applicant is assessed on credit history and a range of other factors.

An HSBC personal loan includes the following rates and terms:

  • Fixed rate from 6.99% to 22.99% APR.
  • Repayment term of 24, 36, 48, or 60 months.
  • Loan amount of $3,000 to $30,000.

Privacy & Security  

As expected of a major bank, HSBC Bank USA goes to great lengths to protect the privacy and security of its customers. All information provided online is encrypted to the highest standards. Of more relevance to online banking customers, HSBC employs a number of internet banking security enhancements that provide extra layers of protection to customers.

Help & Support

HSBC is a large bank with many different departments dealing with everything from online banking to mortgages to credit cards. If you’re new to HSBC, the best place to enquire about a personal loan is the personal banking division. If you’re an existing customer on one of its premium banking plans, there are special phone lines for HSBC Premier Banking and Premier Advance.

Phone: 800-975-4722 (Personal Banking hotline for new personal loan applicants, available 7 days a week during extended business hours)

Post: HSBC Bank USA, NA, PO Box 2013, Buffalo, NY 14240

How HSBC Bank USA Compares

6.99% - 22.99%
3.49% - 35.99%
Minimum credit score
Loan amounts
$3,000 - $30,000
$1,000 - $100,000
$1,000 - $50,000
Loan term
24-60 months
24-84 months
3 – 180 months
Best for
Getting a direct personal loan from a major bank
Debt consolidation for people with good credit
Comparing a variety of loan options

 As mentioned earlier in this review, there are 2 good ways to get an online personal loan. The first way is to use a loans marketplace like LendingTree to compare a range of trusted lenders and personal loan options. The second method is to go directly to the source, preferably a lender known for offering competitive rates and quick funding—such as HSBC.


Who owns HSBC Bank USA? HSBC Bank USA is the American subsidiary of HSBC, a major global bank with headquarters in the UK.

Aside from personal loans, what else does HSBC offer? HSBC is a major banking institution in the United States. It offers a range of online banking products, including checking accounts, savings accounts, credit cards, and home loans. 

Will my credit score be impacted? It takes only 5 minutes to get a pre-qualified quote, and your credit score won’t be impacted. If you accept the offer and move forward with a formal application, HSBC will run a hard credit query—which will affect your credit score. Note that virtually every personal loan lender runs a hard credit query before funding.

When does interest start accruing? One of the benefits of an HSBC personal loan is that payments only begin around 2 months after account opening. However, your personal loan will accrue daily interest from day one.

HSBC HSBC Visit Site


As far as direct lenders go, HSBC offers a nice balance. It carries the strong reputation of a large, global bank. It offers the types of competitive rates associated with online lenders and marketplaces. And it is flexible when it comes to terms and monthly payments. Applying for an HSBC personal loan is quick and easy, with funding next business day after closing.

Physical Address


452 Fifth Avenue

New York City, New York

Sarah Pritzker writes for and is a content writer with years of experience and a keen interest in the vast world of online consumer products. She enjoys helping readers make sense of the options on the market in a variety of fields.

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