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Finding a good loan is like looking for a needle in a haystack. There are many out there promising the world but delivering headaches.

HSBC Personal Loan, aimed exclusively at Indonesian residents, seems to be a way out of this curve.

HSBC Personal Loan

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The bank's proposal is to provide organized credit, decent interest rates and affordable terms for those who already have a basic financial structure.

The focus here is to explain everything you need to know about this personal loan. From the requirements to the most common uses and our honest opinion. And like good boring adult content, we won't sugarcoat it. It's straightforward, no bullshit.

What are the requirements needed to apply?

HSBC is not going to grant credit to just anyone who shows up. And that's a good thing.

It means that the institution has well-defined criteria, which protects both the institution and the customer. But before you think about applying, it's a good idea to find out if you're a good fit.

See who can apply for the loan:

Residents of Indonesia with Indonesian nationality.
Age between twenty-one and fifty-five years.
With proof of gross monthly income: For salaried employees: from six million rupiahs. For self-employed or independent professionals: from ten million rupiahs.
Have a credit card with a minimum limit of twenty million rupiahs.
Have this card in use for at least twelve months.
Minimum working time: Salaried employee: one year with a fixed employment contract. Self-employed: two years of proven activity.
For self-employed individuals and professionals, it is mandatory to have an active account with HSBC.

There's no point in trying to get around this. The bank carries out a rigorous analysis, so if you don't meet these requirements, your application will probably not even go through.

What documents are required?

There is no way to avoid the bureaucratic part. And if you want to be approved, you need to deliver exactly what they ask for. Here, HSBC is direct: they require basic but essential documents.

Check out what you need to gather:

Original completed and signed loan application form.
Copy of e-KTP identity document.
Copy of primary credit card statement.
Copy of NPWP or annual income tax return SPT PPH 21.
Copy of Jamsostek Mobile Digital Card.

And don't be surprised if they ask for something else. The bank has the right to request additional documents, depending on your profile and financial history.

Having this documentation organized from the beginning helps a lot. It makes the process easier and also conveys an image of responsibility, which can count towards points in the credit analysis.

Mandiri KSM

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What are the biggest uses of this loan?

Now let's get to the point: what is this money for? The good news is that you don't need to explain to the bank how you are going to use the money.

But of course, it is recommended to always have a clear objective. After all, debt taken on without planning is an invitation for headaches.

Here are some of the most common uses:

Pay off debts with higher interest rates

Many people use this loan to get rid of debts with absurd interest rates.
Credit cards, overdrafts or informal loans often have very high rates.
Replacing these debts with one with a lower rate and longer term helps you organize your life.
And with HSBC's fixed installments, you can accurately predict how much you'll pay each month.

Invest in education

Technical courses, colleges, specializations or even exchange programs.
Educating yourself or your children is one of the best investments possible.
As the term can be up to thirty-six months, it is possible to organize the payment along with the duration of the course.
And the return on a degree or certification is often worth much more than the interest paid.

Home renovation or maintenance

Anyone who lives in an old house or whose property needs improvements knows how much this weighs.
Instead of letting the problem grow, the loan can be used to carry out the renovation right away.
Electrical and plumbing repairs, painting or new furniture fall into this category.
Improving the environment in which you live has a direct impact on your quality of life.

Health expenses

Medical consultations, exams, hospitalizations or surgeries outside the health plan.
Expenses with dentists, glasses, prosthetics or rehabilitation also come into play here.
When your health is at risk, you can't wait to save money.
In this case, the loan becomes an emergency solution — and often the only viable one.

Special events

Weddings, birthdays, graduations or other important dates.
Sometimes you have to host an important event with dignity.
As long as it is well planned, the loan can help cover part or all of these events.
The tip here is to keep your feet on the ground and not go over budget with huge parties.

Travel or exchange

In some cases, urgent or long-planned trips end up happening with the help of a loan.
The same goes for educational or professional exchanges.
If opportunity knocks on your door and you don't have time to save up the money, credit can be the push you need.

Our advice for anyone applying for an HSBC Personal Loan

First of all, think carefully. Don't take out a loan just because it's easy or because you saw an ad. Borrowing money has a cost, and it comes in the form of interest.

That said, if you:

Has a stable income,
Have a good credit history,
Your name is clean,
You need an amount within the range accepted by the bank,
And you know exactly what you're going to use the money for...

So it might be worth it, yes.

The important thing is:

Do not use money as a “consumption bonus”.
Avoid borrowing to cover the gaps of other poorly managed loans.
Always consider whether you will be able to pay the installments until the end of the contract.
Remember that, even with fixed installments, interest is applied more heavily at the beginning.
And always keep copies of everything you sign, including the contract.

Weighing up the pros and cons – Is it worth it?

Let's weigh it up, as should be done with any financial decision.

Advantages

Low interest rates for those who borrow larger amounts, which can be as low as one percent per month.
Fixed installments, which facilitates financial planning.
It starts with low values, which suits those who need little.
The period of up to three years gives plenty of breathing room.
Promotion with voucher for new customers is still an extra attraction.
Transparency in the process. Nothing hidden between the lines.
A big name in the market. HSBC is a global bank with a reliable structure.

Disadvantages

It's not for everyone. The requirements are very specific.
The credit limit depends on careful analysis, so it may not turn out as you imagined.
For those who borrow smaller amounts, the interest rates are higher.
Some promotional rates are only available to invited customers.
The process requires documentation and there is no way around it.
It can be bureaucratic for self-employed people who do not yet have an HSBC account.
And of course, any loan is a debt. You have to approach it responsibly.

If you fit the ideal profile and have a clear goal, the advantages can outweigh the disadvantages. But if you are in a tight spot, have an unstable income or have no plan, it is better to stop, take a deep breath and reorganize your finances first.

Apply for a loan once and for all on the official website!

Have you done the math? Are you sure you need the loan and are you within the criteria? Then the next step is very simple.

You can apply directly on the HSBC website. There is a button to start the process. It is quick, straightforward, and all the analysis is based on the documents you send.

So before you click: