HSBC Premier Fixed Rate Home Loan Review

Rates and Fees verified correct on December 10th, 2016

Protect yourself against rising interest rates and enjoy a range of competitive features with a HSBC Premier Fixed Rate Home Loan.

If you’re looking for a fixed rate home loan to help you buy a property, the HSBC Premier Fixed Rate Home Loan is worth considering. It combines a competitive rate with a loan split option, the ability to make up to $10,000 of additional repayments per year without incurring a penalty, and no ongoing account-keeping fees.

Interest Rate Max Insured LVR Max LVR
3 Year Fixed (Investor)
4.69% p.a.
Comparison Rate
5.18% p.a.
90% 80%
5 Year Fixed (Investor)
4.69% p.a.
Comparison Rate
5.17% p.a.
90% 80%
4 Year Fixed (Investor)
4.69% p.a.
Comparison Rate
5.17% p.a.
90% 80%
2 Year Fixed (Investor)
4.79% p.a.
Comparison Rate
5.20% p.a.
90% 80%
1 Year Fixed (Investor)
4.79% p.a.
Comparison Rate
5.20% p.a.
90% 80%
1 Year Fixed (Owner Occupier)
3.85% p.a.
Comparison Rate
4.87% p.a.
90% 80%
2 Year Fixed (Owner Occupier)
3.85% p.a.
Comparison Rate
4.81% p.a.
90% 80%
3 Year Fixed (Owner Occupier)
3.89% p.a.
Comparison Rate
4.77% p.a.
90% 80%
3 Years Fixed (Owner Occupier only)
3.69% p.a.
Comparison Rate
4.81% p.a.
90% 80%
4 Year Fixed (Owner Occupier)
4.39% p.a.
Comparison Rate
4.90% p.a.
90% 80%
5 Year Fixed (Owner Occupier)
4.49% p.a.
Comparison Rate
4.93% p.a.
90% 80%
Product NameHSBC Premier Fixed Rate Home Loan
Interest Rate TypeFixed
Comp Rate^ (p.a.)
Minimum Loan Amount$50,000
Maximum Loan Amount$7,500,000
Minimum Loan Term1 year
Maximum Loan Term30 years
Maximum LVR80%
Maximum Insured LVR90%
Mortgage Offset AccountNo
Loan Redraw FacilityNo
Split Loan FacilityYes
Fixed Interest OptionYes
Loan PortableYes
Suitable for InvestmentYes
Extra RepaymentYes
Available as equity loan/line of creditNo
Repayment TypePrincipal & Interest and Interest Only Options
Application Fee$300
Lender's Legal Fee$0
Ongoing Fees$35 monthly ($420 p.a.)
Discharge Fee$300

Pros

  • There is a Low Doc option available with this loan type.
  • Interest rate discount of 0.10% off the standard home loan rates.
  • Personal Relationship Manager as part of your HSBC Premier membership.

Cons

  • There is no redraw facility during the fixed term.
  • A discharge fee of $300 applies when you close your home loan account.

Things to consider about the HSBC Premier Fixed Rate Home Loan

The HSBC Premier Fixed Rate Home Loan is available to both owner-occupier home buyers and property investors. You can lock in a competitive fixed interest rate on the loan for a period of one, two, three, four or five years, providing financial protection against future interest rate rises.
Premier customers receive a 0.1% p.a. discount off HSBC’s standard fixed rate on Fixed Rate Loans where the interest rate is locked in for three, four or five years.

HSBC Premier eligibility criteria

To access the benefits of HSBC Premier you need to have one of the following:

  • A minimum of $500,000 in loans
  • A minimum of $200,000 in savings and investments
  • A combination of loans, savings and investments totalling a minimum of $500,000 with HSBC Bank Australia Limited

You must also maintain an HSBC Premier Cash Management Account and a $35 Premier Monthly Service fee applies.

Features of the HSBC Premier Fixed Rate Home Loan

  • Maximum loan-to-value ratio (LVR). The maximum LVR for owner-occupiers and investors is 90%. However, if you borrow more than 80% LVR you will need to budget for the additional expense of lender’s mortgage insurance (LMI).
  • Competitive fixed rate. The HSBC Premier Fixed Rate Home Loan offers the security and peace of mind of a fixed interest rate, allowing you to plan your budget to manage consistent repayment amounts.
  • Additional repayments. HSBC offers the flexibility of making up to $10,000 of extra repayments towards your loan each year without incurring any extra charges.
  • Loan split option. If you’d like to also take advantage of a variable interest rate and some of the features offered by other HSBC home loans, a loan split option is available.
  • Repayment frequency. The HSBC Premier Fixed Rate Home Loan allows repayments on a weekly, fortnightly or monthly basis, whichever is more suitable for your financial situation.
  • Interest rate discount. HSBC Premier customers can take advantage of a 0.1% p.a. discount off HSBC’s standard fixed rate on when they lock their rate in for three, four or five years.

Fees

  • Establishment fee: $300. This fee is to cover the cost of preparing your loan documents and is discounted by 50% from HSBC's standard establishment fees for the HSBC Premier Fixed Rate Home Loan.
  • Loan settlement fee. $150. This fee covers the administrative costs associated with the settlement of your loan. This fee does not apply to the 3 year fixed rate owner occupier only offer.
  • Ongoing account keeping fees: $35 per month. With any HSBC Premier product, you will be charged this monthly fee.
  • Loan splitting fee: $100. You’ll need to pay this fee if you want to split your loan into two or more portions.
  • Discharge administration fee: $300. This fee is charged per security.

How to apply for the HSBC Premier Fixed Rate Home Loan

If the HSBC Premier Fixed Rate Home Loan sounds like the right loan for you, review the eligibility criteria above and then click the button at the top right-hand side of this page. This will allow you to contact HSBC directly or reach out to a mortgage broker to discuss your lending needs.

To apply for this loan, you’ll need to provide:

  • Your personal details. Supply your full name, email address and phone number, plus specify your preferred method of contact.
  • HSBC customer details. You will need to specify whether or not you are already an HSBC customer.
  • Loan details. Select the home loan you would like to find out more information about.
  • Further information. In the additional information section, provide any extra details about your enquiry, for example the amount of money you want to borrow and the purpose of the loan.

If you want the security of a fixed interest rate, the HSBC Premier Fixed Rate Home Loan has plenty of useful features. Before you decide whether or not it’s the right loan for you, see how those features stack up against other fixed rate home loans available on the market.


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HSBC Premier Fixed Rate Home Loan Review Interest Rate History vs RBA Cash Rate Graph


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This page was last modified on 2 August 2016 at 14:18.

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HSBC Premier Fixed Rate Home Loan

  • Interest Rate

    N/A

  • Comparison Rate

    N/A

  • App Fee / Annual Service Fee

    $300 / $35

  • Max LVR

    80%

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