Top Up Loan

Fixed repayment terms

• Spread your repayments over 1 to 5 years for Personal Loans of £15,000 and less.

• Spread your repayments over 1 to 8 years for Personal Loans of over £15,000.

• The first repayment is due 1 month from drawdown.

• Repayments will be taken monthly from your nominated current account.

Debt consolidation considerations

• If you're using any part of this loan to pay off or reduce existing loans/debts (including combining these into a single loan), it's important to consider not just the interest rate and monthly repayments, but also the term of this loan compared to the remaining term of your existing loans/debts.

• Spreading your payments over a longer term means you could end up paying more overall than under your existing arrangements, even if the interest rate on this new loan is less than the rates you're currently paying.

• You should also consider if any early repayment charges apply and if this form of borrowing is appropriate for your circumstances.

Interest

• At the start of the loan, we calculate the total amount of interest payable (total cost of credit) and spread it out over the loan term. We calculate the interest due from each monthly repayment based on the number of days between repayments and the outstanding capital balance. This means we collect a higher proportion of the total interest at the start of the loan, when the capital balance is bigger, and a lower amount towards the end.
• If there are delays between repayments, then more interest will accrue during that period. For example, this can happen if the payment date you choose is more than one month after the date you sign your agreement, or if you take a payment holiday that isn’t shown in your credit agreement. Although we will never charge more total interest than shown on your credit agreement, this could mean that the rebate you get for settling your loan early is lower, or can go down to zero.

Early repayments

• You can repay your loan in full at any time by giving us notice in writing, by visiting a branch, or by calling us on 03457 404 404
• Once you've given us notice, we'll give you a settlement figure. You must pay all the amounts owed if you want to close the loan
• If you make an early repayment, there may be a reduction in the amount of interest you pay. This will be reflected in the settlement figure
• The settlement figure includes interest up to the date that’s 28 days from when you tell us you want to repay the loan, plus an additional month

Responsible lending

If you think there might be a change in your circumstances that could increase your outgoings or reduce your disposable income, please contact us by phone or in branch for further guidance. Changes to consider are:

• Employment changes such as imminent retirement, maternity, paternity or extended leave.
• Reduction in working hours, fixed contract end dates or zero hour contracts.
• An increase in living costs such as rent or mortgage repayments.

Apply for additional borrowing

• You can apply to borrow more money by applying online, by phone or in branch.

You can get full details of our credit facilities, including a written quotation, from any of our branches or by writing to:

Customer Information, HSBC Bank plc, PO Box 757, Hemel Hempstead, Herts HP2 4SS.

Or call us on 0800 032 4735 (textphone 18001 0800 028 0126).

Lines are open from 08:00 to 22:00 every day (except for Christmas Day, Boxing Day and New Year's Day).