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2 Years Home Loan Fixed P&I 1.88% @ HSBC Australia

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2 Years Home Loan Fixed P&I 1.88% @ HSBC Australia
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littlesoldier on 09/11/2020 - 09:14 about.hsbc.com.au (840 clicks)
Last edited 09/11/2020 - 10:07

Not everyone like HSBC Australia but their 2 years fixed rate seems to be pretty attractive atm

Below are other new fixed home / investment loan offers:
Home loan (P&I) - 3 years fixed 2.09%
Investment loan (P&I) - 2 years fixed 2.29%
Investment loan (P&I) - 3 years fixed 2.39%

Note:
Eligibility criteria applies to the HSBC Home Loan Package, including a minimum lending requirement of $150,000 and LVR <=80%. An annual package fee of $390 per annum is payable. Excludes non-resident applicants.

Financial Home Loan

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closed Comments

  • dts88 on 09/11/2020 - 09:34

    what is the rate for variable (P&I) for owner occupied?

  • jedimaster on 09/11/2020 - 10:06
    +2

    please edit and add a tag for homeloan as well. makes it easier to see all home loan offers

  • rictee on 09/11/2020 - 10:55

    Any rebate available for refinance? Couldn't find anything on their website. Maybe a broker special?

  • chid on 09/11/2020 - 11:35
    +1

    why don't people like HSBC Australia? I tried to get a home loan with them a couple years ago (3.5ish) but they said they weren't doing more investor loans at the time (due to APRA)

    • littlesoldier on 09/11/2020 - 12:03
      +2

      From a corporate perspective, HSBC as a global company has been fined multiple times from different countries due to breaching regulations

      From a user / customer perspective, HSBC facilities are really basic in Australia
      eg.
      Their website are pretty basic and crappy, their app used to be really bad too but has been improved a lot (new app launched last year)
      They don't have much branches compare to the Big4
      The home loan approval process is really slow and tedious, with many checks and requirements (required to you cut most of your credit cards before approval loans etc.)

      But once you have been sorted and got the approval,
      basically you enjoy a lower interest rate loan, so its the same thing compare to most other major banks

      • CachePC on 09/11/2020 - 12:25

        You can always get money from a Westpac Atm for free as a HSBC customer.

        Agree about their website for banking and their mobile app are no where near the CBA one - but the way around this is to get your pay put into CBA and move what you want to HSBC - free CBA account for 2k deposit a month and benefit of CBA atm network if you want it.

        We did calcs vs staying with CBA and by the time you take into account CBA rates being higher and their 395 package fee (which due to circumstances my partner paid as well as me) we were >5k per year better off with HSBC.

        Ymmv

      • dimitryp on 10/11/2020 - 10:51

        They also STILL dont support PayID outbound payments. Inbound fast payments got enabled recently, but that also took them ages.
        Desktop Internet Banking is pretty poor from a user-experience perspective, although the mobile App has recently improved.
        Otherwise nothing else particularly bad that i've noticed

    • clubhonda on 09/11/2020 - 12:05
      +4

      I have a Premier relationship manager looking after me at the bank and have found it to be pretty good.

      • littlesoldier on 09/11/2020 - 12:11
        +4

        yes, same for me
        Whenever I have any issue, basically just give the relationship manager a call to get things sorted
        It's a pretty good personal service (as long as you are eligible for the premier tier)

        HSBC Premier tier used to be very easy to achieve
        just required a loan over $500k
        However, they are changing the rule from end of Nov 2020
        Now they required a monthly deposit of $9000 to saving accounts (exclude offset account)

        Given said that, you can still able to achieve this by transfer $9000 monthly to another bank
        and transfer back a few days later

        Reference:
        https://www.hsbc.com.au/premier/upcoming-changes/?eid=EML_AU…

        • CachePC on 09/11/2020 - 12:29

          Looked at those changes - interesting.

          So if I move 4.5k over from another bank, then move it back to that other bank and then move it back to HSBC I met the 9k per month deposit? Is there something I'm missing?

          • littlesoldier on 09/11/2020 - 12:31
            +1

            @CachePC: I think they just requires $9k inbound transfer per month
            so $9k out, and $9k in
            or $4.5k out and in (do it twice :) )

            TBH the eligibility criteria is pretty stupid….

        • dimitryp on 10/11/2020 - 10:53
          +1

          I've noticed that if i ever email a question to my relationship manager, she always calls me rather than replying via email. I have a suspicion that she doesnt want to be "caught" saying anything in writing so just wants to do it via call so i cant later say "but you said" :)

          • littlesoldier on 10/11/2020 - 11:00

            @dimitryp: Not sure if this is the reason of calling vs email
            But I do like speaking directly with my relationship manager as I am getting a direct response :)

  • mullahmullah on 09/11/2020 - 12:30
    -4

    Funded some dodgey drug related stuff and they soon to be CCP bith

  • Benoffie on 09/11/2020 - 19:12
    +1

    One of the few banks/CUs with competitive rates that doesn't go mental if one or both loan applicants are in casual/contract roles. Found them very approachable as a teacher when income isn't always consistent.

  • hazamatic on 11/11/2020 - 15:00

    Well (profanity). Refinanced to HSBC 2 months ago with 2 year fixed at 2.09%. Paying ~$1500 extra per year now compared to this new offer.

  • vegemite2008 on 11/11/2020 - 17:31
    -3

    Hi,

    I am in the market for a new mortgage (no refinance) .

    Loan amount $250,000
    LVR app. 55%

    Can you offer fixed interest 4-5 years?

    Option to make extra repayments every year?

    Option to withdraw extra repayments

    No fee (or very small fee) to discharge mortgage early (maybe after 10 years - 30 year mortgage).

    Offset account would be great but not a requirement

    Please respond asap so that we can get the started with paperwork. Thanks

  • GS9891 on 15/11/2020 - 01:57

    The comparison rate for these fixed ones is always still way above the variable, so what's even the point?

  • Henski on 25/11/2020 - 08:36

    Could someone pm me their relationship manager info? Need to reach out to them re: this offer

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