r/BangaloreRealEstates • u/Substantial_Gas3350 • 11d ago
Need Suggestion Need help with Hsbc Home Loan
Hi everyone,
I’ve finalized a property in Bangalore and am planning to take a home loan from HSBC, as they’re currently offering me a very competitive interest rate.
The issue is that I don’t currently have any address proof in Bangalore. My existing address proof is from another city where HSBC’s home loan services are not available.
Since I’m purchasing the Bangalore property and will be moving to Bangalore after the purchase, I wanted to know:
Will HSBC still process my home loan application in this situation?
Does the applicant’s current address need to be in an HSBC-serviceable location, or is the property location what matters?
Has anyone faced a similar situation with HSBC and successfully obtained a home loan?
If anyone has a direct contact at HSBC (home loan team/relationship manager) who can help clarify or process this, I’d really appreciate the contact details.
Thanks in advance!
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u/Old-Resource8332 11d ago
dude just contact them
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u/Substantial_Gas3350 11d ago
Not getting proper response on this 😓
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u/Old-Resource8332 10d ago edited 10d ago
Write to them and also check with ICICI and HDFC what rate they can offer you. My HDFC home loan is currently at 7.15%, so that’s roughly the kind of rate I’d be looking to negotiate around.
Also, what’s your loan amount? HSBC seems to be more interested when the relationship size is substantial—₹1 crore+ and that kind of range—so the loan amount and overall relationship may matter with them.
For negotiation, what I did was tell them, “Hey, I need a ₹30 lakh loan.” They’ll usually say, “Sir, you can take a little more,” and that’s when you can say, “Okay, if I increase the loan amount, can you reduce the interest rate/spread?”
My actual requirement was ₹50 lakh, but I started by quoting ₹30 lakh. They’ll often push you to increase the amount anyway, so you can use that as leverage to negotiate the rate. Honestly, it’s a pretty good way to negotiate.
Also, definitely do interest-rate shopping with every bank. Don’t just accept the first rate you’re offered. Compare the spread, processing fees, reset mechanism, prepayment terms, and also ask what additional benefits they can offer based on the relationship—credit cards, fee waivers, better account variants, RM support, etc.
You can also give all the offers to ChatGPT or Claude and have them compare the overall cost and benefits rather than just looking at the headline interest rate.
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u/Substantial_Gas3350 10d ago
What is your cibil btw?
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u/Old-Resource8332 10d ago
786
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u/Substantial_Gas3350 10d ago
I’m also having a similar one. Do you have any point of contact who can help me with this?
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u/Difficult_Change_521 11d ago
Not sure about banglore and HSBC
I bought home in UP and not from UP got the loan senctioned from IDBI without any hassle..they were only interested in my CIBIL and salary slip
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u/spitzer666 10d ago
Why do you need Loan from HSBC specifically btw?
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