Frequently Asked Questions

How many types of housing loan being offered by the Bank?

HSBC is currently offering two types of housing loan to individual as follows:

• Home Mortgage Loan: for purpose of house/apartment purchasing and security is the to-be-purchase house/apartment
• Home Equity Loan: security is an available real estate owned by you and the loan is used for loan purposes according to HSBC’s policies following with applicable laws. 
  

What is the maximum amount that I can borrow?

The loan amount will be reviewed and approved mainly based on the income, other lending liability and credit history. The loan amount can be up-to 70% of value of the secured property depending on types of housing loans. Please contact our Contact Center or visit any HSBC branch or transaction office for further support.

What is the maximum loan tenor that I can apply for?

Maximum of 25 years for home mortgage loan and 15 years for home equity loan. However, the maximum loan tenor is also subject to your age which is not exceeding 65 years of age at the loan maturity subjecting to customer segment. 

What are the current applicable interest rates?

The current applicable lending interest rates are posted on our public website at https://www.hsbc.com.vn/en-vn/help/rates-and-fees/. You can choose an appropriate fixed period in accordance with your loan. After fixed period, floating rates will be applied. You can choose the applicable interest rate according to interest review cycle of 1 month, 3 months or 6 months. Consequently, your applicable interest rate may be adjusted following the agreed interest review cycle.

During the processing of my application, do I have to pay any fee?

Fees related to your application include:

• Property valuation fee of VND 1,890,000 at the minimum (VAT exclusive and subject to the independent valuation company and the fee may vary depending on location of the property)
• Legal fee for notarization/security transaction registration service (subject to the independent service company and fee may vary depending on registration location)
• Notarization fee and security transaction registration fee: subject to standard fee quoted by the local authority and paid directly by customer
• Other applicable fees. Please refer to the link for more information.
  

What are documents that I have to prepare for the loan application?

Necessary documents include:

• Application form
• Identity documents (ID/Passport, Household Registration Book and/or Temporary Residential Registration, Marital status certificate)
• Income proof
• Security ownership document (Land use right/Land use right and house ownership certificate/Sales and Purchase contract) and other loan purpose document.

The Bank reserves the right to require customer to provide additional documents depending on each specific loan application.Pease contact our Contact Center or visit any HSBC branch or transaction office for further support.

Do I have to buy insurance during the loan tenor?

Before disbursing the loan, Customer is requested to buy fire insurance for the secured house/apartment with minimum 3 year validity. And during the remaining loan tenor, the customer must continuously maintain the valid insurance as agreed in credit agreement.

The insurance policy (under which HSBC Vietnam is the beneficiary) must be issued by one of the insurance companies approved by HSBC Vietnam and listed in the appendix.

What is the Bank’s process from the time the Borrower submits a loan application until disbursement?

After you provide all sufficient documents required by the Bank, your application will go through basic steps including collateral evaluation, credit underwriting, loan approval, pubic notarization, secured transaction registration and disbursement. During application processing, the Bank staff will always accompany with you and is ready to assist in case of any problems.

In the sale & purchase of a house, the relevant Sale and Purchase Agreement will not be executed and notarized if the Buyer (borrower) does not fully pay the property value to the Seller. In case the Buyer (borrower) can only afford 30% of the property value and shall apply for a bank’s finance for the rest of 70% of the property value, will the Bank provide any guarantee or commitment service to the Seller before the house ownership is transferred to the Buyer and mortgaged to the Bank?

The Bank currently offers “the Seller’s account procedure” to ensure rights and benefits of parties. Assuming that the loan amount is approved at 70% of the property value, after the loan is approved, the Seller, the Buyer and the BankHSBC will sign an agreement stipulating rights and responsibilities of parties in relation to the sales & purchase/mortgage transaction. The details are as follows:

1. After the Sales and Purchase contract is notarized, the Bank will disburse the loan amount and transfer such loan amount to the Seller’s account opened at HSBC and block this amount in the Seller’s account.
2. The Seller and the Buyer carry out necessary legal procedures to complete the house ownership transfer process.
3. After the Buyer has successfully mortgaged the property (house) to the Bank, the Bank will release the blocked amount and afterward the Seller will have full rights with respect to such amount.
   

During the loan tenor, can I ask the bank to swap collateral(s)?

You can swap collaterals when providing other qualified collateral(s).

How long after can I get back my collateral documents since once I fulfill my prepayment obligation to mortgage loan?

You can get back your collateral documents up to 5 (five) working days after completing all repayment obligations to the Bank.

How does the bank identify the value of my property? Can I choose my preferred valuation company?

The value of your collateral will be assessed by a Valuation Company appointed by the Bank. Customers will pay directly to the service providers according to listed fees on the Bank's website at https://www.hsbc.com.vn/. To ensure independence and objectivity, the valuation company is randomly selected by the Bank and you cannot interfere into this selection procedure.

If I already have a personal account at HSBC, will my monthly installments be automatically deducted from this account or do I have to manually transfer money to my borrowing account?

On regular repayment dates, the Bank’s system will automatically deduct money from your designated account. Please maintain a sufficient balance for repayment in this account at HSBC and you do not need to manually transfer to loan account.

How is the monthly installment calculated and how to repay?

You can choose from the following two method

1. Equal principal and interest calculated on reducing balance 
2. Equal installment, where interest is calculated based on reducing balance and principal is adjusted to meet the required equated installment amount.
   

Can I fully repay the outstanding loan before final due date? Can I request such prepayment at any Bank’s Branch/Transactional Office?

Borrowers may submit a request for loan prepayment (for full settlement or partial prepayment). Subject to the Bank’s approval, Borrower can repay the principal plus any accrued interest and fee (if any) in VND on the requesting date. Besides, Borrowers will have to pay an early repayment fee as provided in the credit agreement.

Customer may contact any of our Branches/Transactional Offices for assistance or our Hotline at (84 28) 37247247 for advice.

How will my credit history be affected when the loan is overdue?

Upon the Loan’s overdue days, the Bank will classify it into different credit debt groups and report to the Credit Information Center (CIC). The overdue principal amount will be subject to the overdue interest rate mentioned in the credit agreement. 

Does bank offer any banking service to help me easily manage my loans? 

For your convenience to manage the loan, please register HSBC Personal Internet Banking Service. Please contact our Contact Center or visit any HSBC branch or transaction office for support for free registration for HSBC Personal Internet Banking Service.

What is HSBC Personal Installment Loan?

HSBC Personal Installment Loan is unsecured product which is assessed basing on your bank transferred salary following with HSBC policies 

What is the maximum amount that I can borrow?

The loan amount will be reviewed and approved mainly based on the income, other lending liability and credit history. The loan amount can be up-to VND 900 million. Please contact our Contact Center or visit any HSBC branch or transaction office for further support.

What is the maximum loan tenor that I can apply for?

Maximum of 5 years for pre-approved customers and 4 years for other customers. However, the maximum loan tenor is also subject to your working age (which is not exceeding 60 years of age for males and 55 years of age for females at the loan maturity, respectively).

What are the current applicable interest rates?

The current applicable lending interest rates are posted on our public website at https://www.hsbc.com.vn/en-vn/help/rates-and-fees/. Please contact our Contact Center or visit any HSBC branch or transaction office for further support.

What are documents that I have to prepare for the loan application? 

Necessary documents include:

• Application form
• Identity documents (ID/Passport, Household Registration Book and/or Temporary Residential Registration)
• Labour contract or Letter of employment
• Bank-statement showing the last 3 month salary if your income is from salary only OR bank-statement showing the last 6 month salary if your income is from base salary + commission or from commission only
• Utility bill at current residential address
• Loan purpose document (subject to HSBC’s policy)

The Bank reserves the right to require customer to provide additional documents depending on each specific loan application. Please contact our Contact Center or visit any HSBC branch or transaction office for further support.

When shall I know the status of my loan application? 

You will be informed of the approval status of your application within 48 hours after you have fully submitted the required documents.

How can I get the disbursed loan if my application approved (by cash or bank transfer)?

Your loan will be disbursed to your account at HSBC or transferred to respective beneficiary’s account in accordance with local regulation.  

Can I get back all the documents that I have submitted to the Bank?

As the Bank’s policy, your submitted documents will not be returned whether the Loan is approved or not.  

Do I have to provide documents proven for legal purpose usage before disbursement? 

You need submitting documents proven for legal purpose usage before disbursement. . Please contact our Contact Center or visit any HSBC branch or transaction office for further support.  

How is the monthly installment calculated and how to repay? 

Your monthly repayment, in equal installment, is calculated on reducing balance basis. The installment will be automatically deducted from your designated account. Therefore, you should maintain a sufficient balance in your savings account no later than the end of the working day of the payment due date for the repayment on due date.

Can I fully repay the outstanding loan before final due date? Can I request such prepayment at any Bank’s Branch/Transactional Office?

Borrowers may submit a request for loan prepayment (for full settlement only, partial prepayment is not allowed). Subject to the Bank’s approval, Borrower must repay in full the principal plus any accrued interest and fee (if any) in VND on the requesting date. Besides, Borrowers will have to pay an early repayment fee as provided in the credit agreement, on the current outstanding principle.

Customer may contact any of our Branches/Transactional Offices for assistance or our Hotline at (84 28) 37247247 for advice.

How will my credit history be affected when the loan is overdue? 

Upon the Loan’s overdue days, the Bank will classify it into different credit debt groups and report to the Credit Information Center (CIC). The overdue principal amount will be subject to the overdue interest rate mentioned in the credit agreement. 

What does the Bank do to remind customer of making repayment on time?

Please refer to the Credit Agreement and/or Disbursement Request Form to acknowledge the Loan Drawdown Date. Your regular repayment date will be consistent with this date. In case your repayment date falls into weekend or holidays according to applicable laws, repayment date will be moved to next working day.

For your convenience, the Bank might send notices by SMS via your registered phone number with the Bank prior to repayment date. Customer may our Hotline at (84 28) 37247247 to check the repayment amount as well as repayment date.

What is Secured Overdraft?

Secured Overdraft is a flexible loan for customers in need of funds while your own assets has been placed in a fixed deposit at HSBC Vietnam. Customers only pay monthly interest on the amount and number of days actually used.

What are the current applicable interest rates?

The current applicable lending interest rates are posted on our public website at https://www.hsbc.com.vn/en-vn/help/rates-and-fees/. Please contact our Contact Center or visit any HSBC branch or transaction office for further support.

How will interest be charged when I utilize the approved limit?

Monthly interest will be calculated based on the actual amount and the actual number of days of use.   

Can I use my pledged deposit(s) to pay for the Secured Overdraft? 

You are not allowed to use pledged deposit(s) to pay for the Secured Overdraft unless you cancel your Secured Overdraft. 

How can I pay interest of the Overdraft? 

On monthly due date, you need mainting sufficient repayment amount in your Interest Repayment Account. You can also refer to your Account Summary via Personal Internet Banking service for more information of this Interest Repayment Account.

How can I pay principal of the Overdraft?

You can utilize your approved overdraft limit flexibly and can deposit/transfer money to your Overdraft Account to make repayment at any time without early repayment fee charge. You need to repay the entire principal and interest after 12 months from the overdraft limit established.

Who should I contact to have more information? 

Please leave your contact details at the following link so that our Relationship Manager will contact you to provide consultancy.