HSBC Review

BySarah PritzkerFeb. 09, 2020

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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. If you have a 700+ credit score, HSBC accepts personal loan applications online for non-existing customers and in 230 branches around the United States for existing customers.


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


  • Not available in Wisconsin or US territories

Visit HSBC

HSBC Bank USA at a Glance

Loan typeUnsecured personal loans
Loan amount$3,000 - $30,000
Repayment terms24-60 mo.
APR6.99% - 22.99%
Minimum credit score700+
Best forGetting 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:

  • Provide funds that can be used for virtually anything.
  • Applications may be made online for non-existing customers or in one of approximately 230 HSBC branches across the United States for existing customers. 
  • If approved, your funds can be deposited into any U.S. bank of your choice as soon as the next business day.
  • 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 can ask 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 submit a formal loan application. Funds are transferred the 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% - 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.

How HSBC Bank USA Compares

APR6.99% - 22.99%3.49% - 35.99%3.49% - 35.95%
Minimum credit score700680None
Loan amounts$3,000 - $30,000$1,000 - $100,000$1,000 - $50,000
Loan term24-60 mo.12-84 mo.12-144 mo.
Best forGetting a direct personal loan from a major bankDebt consolidation for people with good creditComparing 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 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.


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

Visit HSBC

Personal loan products are offered in the U.S. by HSBC Bank USA, N.A. Equal Housing Lender. Subject to credit approval.  Example, a $20,000 HSBC Personal Loan with a 3-year term and a 6.99% APR has a required monthly payment of $620 assuming on-time payments. The APR on your Personal Loan will be based on your credit history, among other factors. Borrowers must meet program qualifications. Programs are subject to change. Geographic and other restrictions may apply.

HSBC customer testimonials

PoorReviews 230
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  • author
    H du Fay
    Jan 09, 2021
    Je ne suis pas d’accord avec les autres…

    Je ne suis pas d’accord avec les autres notes d’internautes. Chez HSBC depuis plusieurs années, je n’ai jamais eu à me plaindre de cette banque. Énorme différence avec le Crédit Agricole où j’étais avant et où personne ne s’occupait de mon patrimoine... Vous avez encore des vraies personnes à l’accueil et des conseillers qui prennent encore leur temps. Les frais sont les mêmes qu’ailleurs avec un service qui existe encore. Le site web est fonctionnel et l’application iPhone est vraiment top. Je doute de la véracité de certaines critiques.


  • author
    2 days ago
    HSBC France est la honte du groupe…

    HSBC France est la honte du groupe international. Il a fallu plus d’un mois pour ouvrir un compte en France comparé à deux jours en Australie. En France ils sont encore dans les années 60. Accès en ligne nul et archaïque. Système de sécurité bidon. Les conseilles ne sont pas du tout aimable. A éviter comme la peste bubonique.


  • author
    Odile Facchini
    Jan 11, 2021

    Service clientèle de mon agence inexistant J'ai été obligée de faire le siège 1 h à mon agence de Versailles pour que les informations de ma pièce d identité soit saisie par un préposé à l accueil et pouvoir contacter les services HSBC premier. Je suis cliente depuis 40ans à l époque du CCF Je vais changer de banque cette année


  • author
    Emilie Bon
    Jan 08, 2021
    Poor customer service

    Poor customer service. They have sent the pin number of my new credit card to a country where i lived 3 years ago despite the fact that i have updated my address. I am finding myself moneyless since i cannot use that credit card without a pin code and have no other payment facilities. They offered me to withdraw some cash to another bank agency since their system was not working. I am working and have to time to waste driving to the other side of the city for withdrawing money. I booked an appointment with the director to make a complaint but the guy never showed up!!! These people are so disrespectful of their customers and don't try to understand the mess that this bank is creating. Doing eveything i can to transfer my money elsewhere. Just run away from hsbc!


  • author
    Lesley C.
    Jan 07, 2021
    Untrained and disaffected staff

    HSBC globally works pretty well when transactions are purely computer-based. Anything that involves human interaction can be disastrous - staff are ill-informed and often give contradictory information; they frequently fail entirely to respond. Like other commentators on this site, the bank has cost me money by making mistakes. One advisor asked me for investment saying the "bank hadn't made enough money out of me." Then, he failed to call me on the agreed date when I had agreed to consider investing. My recent experience with HSBC France has been a joke and I will be making a formal complaint - with little hope of any recognition or compensation. If you have any alternative - use it. Avoid HSBC if you possibly can.