Attractive offers on personal loans, mortgages and credit cards
HSBC has made it easier for customers in the UAE to obtain credit cards, personal loans and to enter the property market by opening up its lending criteria across these products.
Rick Crossman, Head of Personal Financial Services, HSBC UAE said:
"The economic outlook for the UAE has been improving, along with the credit environment. While we remain a prudent lender, HSBC is committed to its customers, and understands that access to financial services needs to be convenient and affordable."
"Our revised lending criteria opens these products to a larger number of customers, however it is important to note that customers will be evaluated individually and on a case-by-case basis. Our competitive pricing on mortgages, personal loans and credit cards also means that customers will benefit from lower fees, lower interest charges and attractive interest free periods."
"These changes are also fully in line with recent rulings from the UAE Central Bank regarding consumer lending in the Emirates," he added.
The following adjustments have been made to the bank's lending criteria:
Credit Cards - Minimum salary requirement reduced to AED 7500; salary transfer is not mandatory. (Previously AED 15,000 for non-HSBC customers)
Personal loans - Minimum salary requirement reduced to AED 7500: salary transfer is mandatory. (Previously the minimum income eligibility for certain segments was at AED 15,000)
Mortgages -Minimum salary requirement AED 15000; salary transfer not mandatory, Loans to Value (LTVs) up to 80%. (Previously 75%)
New offers launched at the same time include:
HSBC Credit Cards - 0% interest on balance transfer for six months; annual fee free for life Premier, Advance, Gold and Platinum cards.
HSBC Mortgages - low interest rates starting at 5.49% per annum; free home contents insurance for one year; discounts on arrangement fees: 75% discount (on arrangement fees) for Premier customers; 50% for Advance customers; and 25% for all other customers.
Win all your interest back on an HSBC personal loan - 5 winners every week will win 100% of their loan interest back up to a maximum of AED.20,000; 10 winners every week will win 100% of their processing fee back;
Low personal loan rates starting from 6.99% p.a for Premier and 7.49% p.a for Advance customers.
-Ends-
HSBC Bank Middle East Limited (HSBC)
HSBC is the largest and most widely represented international bank in the Middle East. HSBC Bank Middle East Limited has 50 branches throughout the United Arab Emirates, Oman, Bahrain, Qatar, Kuwait, Jordan, Lebanon, Pakistan, Algeria and the Palestinian Autonomous Area. In addition to the branch network HSBC maintains a representative office in Tripoli, Libya. This extensive regional coverage is strengthened by HSBC Bank Egypt SAE; HSBC Saudi Arabia Limited; SABB Securities Limited; SABB Takaful Co.; and Dar Es Salaam Investment Bank.
Media enquiries to Ahmad Othman, Manager Communications, HSBC Bank Middle East Limited on 04 4235628 or at ahmadothman@hsbc.com
© Press Release 2011
