Home Equity home loan

The home equity home loan is a revolving credit facility that gives you access to a pre-approved credit limit. You will only pay interest on the amount you use for the number of days you use it at our competitive Home Equity Rate (facility may be subject to annual review and is repayable on demand).

Customer Example:

If you have a revolving credit approved limit of $100,000.00 at an interest rate of 6.30% pa

  i.) No interest will be charged if this limit is not used or drawn down

  ii.) If you choose to use or draw down any amount (in this example $20,000.00 for 25 days) interest will be charged based on the number of days the facility is in use e.g. $20,000.00 x 6.30% x 25/365 = $86.30 in interest

  iii.) If you were to repay only $12,000.00 of the $20,000 drawn down above, then interest will continue to be charged (on a daily basis) based on the outstanding amount of $8,000.00 until it is fully repaid. In this example assume the balance outstanding is not repaid for 31 days. eg: $8,000.00 x 6.30% x 31/365 = $42.81

Please note that accrued interest will be debited to your Home Equity account on a monthly basis.

Make lump sum repayments whenever you have extra cash flow and you can use your revolving pre-approved credit to pay for those repairs or renovations rather than incurring high interest costs if you were to use your credit card.

Our Home Equity home loan comes with full transactional banking facilities including:

• ATM and EFTPOS transactions with our HSBC Card
• Automated Phone Banking and Internet Banking
• Cheque book facility

There are several ways you can contact us and/or apply for a home loan, choose the one which suits you:

• As an existing HSBC Premier customer call your Relationship Manager
• Call us on 0800 80 23 80 (or +64 9 918 8350 from overseas) 24 hours a day, seven days a week
• Visit a HSBC branch

You can download a home loan application form here.

HSBC will only provide home loans to new customers if they meet our HSBC Premier qualifying criteria, click here to find out more.

HSBC Premier eligibility criteria, normal lending criteria apply. HSBC's Personal Financial Services terms and conditions , HSBC's Personal Financial Services fees and charges, HSBC Premier service guide apply. All are also available on request from any HSBC branch.