InfoChoice Review of HSBC Australia

HSBC Australia is a foreign owned subsidiary bank of HSBC Holdings, a British bank operating in 65 countries around the world. HSBC is the 7th largest bank in the world and traces its history back to the 1860s as a Scottish bank in Hong Kong and Shanghai.

HSBC first entered Australia as HSBC Finance in 1965, was granted a banking license in 1986 and is now officially HSBC Bank Australia Limited.

HSBC Australia has 45 branches, 2,000 Australian employees and is headquartered in Sydney’s Darling Harbour Barangaroo development.

HSBC offers home loans, personal loans, credit cards, savings accounts, everyday transaction accounts, term deposits, commercial banking, financial planning and custody services.

HSBC specialises in loans, accounts and cards for expats and non-citizens living in Australia. HSBC is also popular with Australians living in Hong Kong and other overseas countries.

Is HSBC a good bank?

In Australia, HSBC customers get fee-free access to 3000 ATMs owned by HSBC, Westpac, St. George, Bank of Melbourne and BankSA ATM networks.

HSBC credit cards can be linked to the Qantas Frequent Flyer program.

HSBC home loan borrowers can set up flexible repayment plans. HSBC mortgage customers get a Personal Relationship Manager.

HSBC is bound by Australian responsible lending laws and is required to provide assistance to customers who fall into hardship. HSBC is a member of the Financial Complaints Authority.

HSBC supports indigenous education charities and is a sponsor of a range of sporting teams and cultural institutions.

You can see all of HSBC Australia’s loan, account and term deposit rates at InfoChoice.

HSBC home loan rates

HSBC has an extensive range of home loans.

HSBC’s Premier Home Smart Loan – Owner Occupied has a current variable rate of 2.99 per cent pa (comparison rate 3.45 per cent pa) on LVRs up to 90 per cent. 

HSBC has fixed mortgage rates starting at 2.75 per cent pa (comparison rates from 3.45 per cent pa) for one, two and three-year fixed terms.

Compare HSBC with other home loans at InfoChoice

HSBC personal loan rates

HSBC’s Personal Loans have a current minimum rate of 8.50 per cent pa (comparison rate 9.06 per cent pa). Rates are set according to the credit score of the borrower.

Compare HSBC Australia rates with other personal loans.

HSBC credit card rates

HSBC’s Platinum Visa Credit Card has a purchase interest rate of 19.99 per cent pa and a cash advance rate of 21.99 per cent pa.

HSBC’s Platinum Visa Credit Card is currently promoting a 0% balance transfer offer for 22 months with a 2% BT Fee. This card refunds you the $129 annual fee if you spend $6000 on eligible purchases in the following 12 months.

The HSBC Platinum Qantas Visa credit card also has a purchase rate of 19.99 per cent pa and pays 1 QFF point per $1 spent on eligible purchases.

Compare HSBC credit cards with other credit cards.

HSBC savings rates

The HSBC Serious Saver has a current variable intro rate of 2.35 per cent pa for the first four months, then a base rate of 0.45 per cent pa.

The HSBC Flexi Saver account has a maximum bonus rate of 1.75 per cent pa when your balance is $300 higher at the end of the month than the beginning, and a base rate of 0.40 per cent pa.

HSBC has Australian Dollar Term Deposits currently paying up to 1.35 per cent pa on 3 month terms.

Compare HSBC savings rates with other savings accounts and other term deposits in Australia.

The products compared in this article are chosen from a range of offers available to us and are not representative of all the products available in the market and influenced by a range of factors including interest rates, product costs and commercial and sponsorship arrangements

InfoChoice compares financial products from 145 banks, credit unions and other financial institutions in Australia. InfoChoice does not compare every product in the market. Some institutions may have a commercial partnership with InfoChoice. Rates are provided by partners and taken from financial institutions websites. We believe all information to be accurate on the date published. InfoChoice strives to update and keep information as accurate as possible.

The information contained on this web site is general in nature and does not take into account your personal situation. Do not interpret the listing order as an endorsement or recommendation from us.  You should consider whether the information is appropriate to your needs, and where appropriate, seek professional advice from a financial adviser. If you or someone you know is in financial stress, contact the National Debt Helpline on 1800 007 007.

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