HSBC has made rapid strides in the home loan segment. HSBC provides loans for ready property, under construction property, self-construction and home improvement. HSBC home loans range from Rs. 5 lakhs to Rs. 3 crore and the maximum repayment period can go upto 25 years.

Resident Indians are entitled to certain tax benefits on principal and interest components of a housing loan under the Income Tax Act, 1961.

HSBC Home Loans make it easier for you to move in as soon as possible without putting a strain on your wallet.

Home Loan Features & Benefits

Your dream home, a reality
Loan requirement - offer you loans ranging from Rs. 5 lakhs upto Rs. 3 crore*.

Property types - offer loans to Resident Indians and NRIs for ready property, under construction property, self-construction and home improvement.

Loan tenure - Loans are available for tenures upto 25 years.

Flexibility, savings... more!
Home Loan repayment options - Choose between fixed and floating rate home loans. You also have the option of switching from a floating rate home loan to a fixed rate home loan once a year at no extra cost. **

No penalty option - You can opt to pre-pay up to 25% of your loan every year. Pre-payment is permitted after a minimum of 6 months following loan disbursal.

Free Gold credit card - On approval of your Home Loan, you get a Gold credit card#, free for the first year with annual charges being waived.

Tax benefits - Resident Indians are eligible for certain tax benefits on principal and interest components of a housing loan under the Income Tax Act, 1961.##

To qualify for a HSBC Home Loan, the following criteria apply

a.	Net Income (Rs.)	150,000
b.	Minimum Age (in years)	21
c.	Maximum Age (in years)	58 (salaried) 60 (Public limited/Government Employees) 65 (self employed)
d.	Minimum Loan Amount (Rs.)	500,000
e.	Maximum Loan Amount (Rs.) 30,000,000*
f.	Maximum Tenor (in years)	25**

Note:

Available to both Residents as well as NRIs. NRI Applicants must have a local co-applicant or a local Power of Attorney holder. All joint owners of the property would necessarily have to be co-applicants and would need to sign all loan documents.

The interest rate on your floating rate Home loan is linked to HSBC's Retail Lending Rate (RLR) and any revision in the RLR would impact your interest rate. The RLR is 15.00% effective from August 25, 2008.

*Rs. 20,000,000 for Mumbai and New Delhi applicants, Rs. 10,000,000 for applicants from other cities and Rs. 30,000,000 for Premier customers in Mumbai and New Delhi.

**For Resident Indian/NRI professionals, the maximum tenor is 20 years. For self employed resident Indians and NRIs, the maximum tenor is 15 years.

Terms and conditions apply. All loans at the sole discretion of The Hongkong and Shanghai Banking Corporation Limited, India. Loans available for applicants and properties in and around the limits of cities where HSBC has branches and is subject to change from time to time.

Resident Indians - You will be required to present the following documents:

Completed loan application form with one passport size photograph

Proof of individual’s identity (any one of the following):

• Passport
• Photo PAN card
• Defence identity card
• Voter's identity card
• Driving licence
• Photo ration card
• Government identity card

Proof of residence (any one of the following):

• Passport
• Ration card
• Telephone (land/mobile) bill
• Electricity bill
• Driving licence
• Society outgoing bill
• Voter's identity card
• Life Insurance Policy Only Passport can be used as both Proof of individual's identity and Proof of residence.

Proof of age (any one of the following):

• Passport
• Valid driving licence
• Voter's identity card
• Birth certificate
• School leaving certificate
• LIC Policy or Premium receipt clearly indicating the applicant's age
• Letter from the employer stating the age of the employee #
• Photo ration card # Applicable only for employees of select Public Limited Companies. Conditions apply.

Financial documents:

Salaried individuals

• Latest salary slip showing statutory deductions AND Form 16 (Declaration from the employer giving the details of income and deductions, duly signed by an authorised signatory of the Company) OR
• Latest acknowledged IT returns AND Bank statements for the last 3 months

Self-employed individuals / Proprietor

• Computation of income for the last 2 years certified by a C.A. OR
• P&L and Balance sheet for the last 2 years certified by a C.A. AND
• Copies of acknowledged IT returns for the last 2 years AND
• Bank statements for the last 6 months

Partnerships

• Computation of income for the last 2 years certified by a C.A. OR
• P&L and balance sheet for the last 2 years certified by a C.A. AND
• Copies of acknowledged IT returns for the last 2 years AND
• Partnership deed, letter of authority, bank statements for the last 6 months, Proof of office

Private Limited Companies

• Computation of income for the last 3 years certified by a C.A.
• P&L and balance sheet for the last 3 years certified by a C.A.
• Copies of acknowledged IT returns for the last 3 years
• Memorandum and Articles of Association
• Board resolution
• Bank statements for the last 6 months
• Authority letter from all directors to accompany the application form with photographs of authorised signatories if not specified in the board resolution
• Proof of office

Top NRIs - You will be required to present the following documents:

Salaried NRI Applicants

• Copy of valid passport showing VISA stamps
• Copy of valid visa / work permit / equivalent document supporting the NRI status of the proposed account holder
• Latest contract copy evidencing Salary / Salary Certificate / Wage Slips
• Overseas Bank A/C for the last 3 months showing salary credits

Self Employed NRI Applicants

• Trade license or equivalent document
• 6 months overseas bank account statement and NRE/ NRO account
• Computation of income, P&L account and Balance Sheet for last 3 years certified by the C.A. / CPA or any other relevant authority as the case may be (or equivalent company accounts)
• Passport copy with valid visa stamp
• Brief profile of the applicant and business