The world's local bank
Home equity loan
Home Equity Loan from HSBC is an opportunity for you to release some of the value tied up with your home. Whether you want to renovate your home or expand your own business, you can potentially receive cash against the equity in your home. Let you home work for you with the world's local bank's Home Equity Loan.
Features
- No personal guarantee or cash security
- Loan amount of BDT 500,000 - BDT 7,500,000
- Maximum loan amount of 80%* of the property valuation
- Loan facility against your residential house or apartment
- Competitive interest rates
- Interest is calculated on a monthly reducing balance
- A wide range of loan purposes - purchase of land, apartments, office space, renovation, extension or construction of houses, shops etc, educational expenses for children and many more
- Clubbing of income is allowed for immediate family members i.e. Husband-Wife, Father-Child, Mother-Child etc.
- More flexibility with a loan tenure of maximum 10 years
- Partial or early settlement facilities
Requirements
- The concerned apartment must be occupied by the owner
- Age of the property must not be more than 20 years
- Registered mortgage in favour of HSBC and original title deed
- Irrevocable General Power of Attorney (IGPA)
- Property insurance covering fire, earthquake, flood, and cyclone
- All documents stated in the application form and as required by the Bank must be submitted
*Terms and conditions apply
*Applications are approved at the sole discretion of HSBC
*Last updated in April, 2010
Need to know more
- Call now on 01199 88LOAN (5626), 01199 88HSBC (4722)
- Contact us
