Some people get loans paying reasonable interest, while others even pay it ahead of time (what is known as early loan cancellation). This variety with respect to the alternatives that exist when paying a loan, responds to the great supply of credits that exists in the national market.
From Cooperatives of saving and credit, through financial companies and banking institutions, in Uruguay there is a wide range of loans.
One option, and by the way the most classic, is to request a bank loan. In this article we are going to show the options that a plaza bank offers you, we are talking about the HSCB bank loans.
Like thousands of Uruguayans, you may be thinking of ordering a bank loan, but you’re still not sure. It is not easy to find the best bank loanBut it is also not as difficult as it seems to get adequate credit.
There are banks that are very flexible when granting loansBut, obviously, you should check the bank’s reputation and policies before applying for a loan. You can also check the bank’s history and the number of loans it has already made to determine if it is a trusted lender.
In the case of HSBC bank in Uruguay, it offers different financial products with the following characteristics
- Fixed rates in various currencies, such as:
- Uruguayan pesos
- Indexed Units
- American dollars. In this case, the dollar loan is for income greater than USD 2.000.
- The terms that the Bank manages for you to pay the loan is up to 60 months both in Uruguayan Pesos, dollars and Indexed Units.
- The maximum amount they grant is up to $ U 500,000 Uruguayan pesos.
Below we are going to describe in detail two of the loans offered by HSBC Bank in our country, which are the following:
- Loans for members of the Caja de Profesionales.
- Personal loans.
Loans for members of the Caja de Profesionales
The personal loans for members of the Caja de Profesionales is a financial product specifically designed for professionals.
It is ploan for professionals he offers you:
- Fixed rates in both Uruguayan Pesos and US Dollars.
- To be paid within a maximum period of up to 24 installments for payment of contributions and debts, and even 36 installments for another destination
- The maximum amount is:
- In US Dollars up to U $ S 15.000
- In Uruguayan Pesos up to $ U 500,000
HSBC Professional Loan Benefits
- The loan is fast approved.
- There are no extra charges for early cancellation.
- The life insurance on the debit balance is in favor of the bank and is included in the fee (This is optional).
- Both the rates applied, the terms and conditions, are differential.
HSBC Professional Loan Requirements
The requirements to be able to access this bank loan are the following:
- You must be an active, retired or pensioner member of the Caja de Profesionales.
- The age must be between 18 and 70 years old, and it is not possible to extend the 75 years at the end of the loan term.
- The minimum required income varies depending on the segment, that is: active, retired or pensioners.
You can find more information about this loan in the product brochure, available at the following link 👉 HSBC Professional Loan Product Primer.
HSBC personal loans
HSBC Bank also offers the personal loans without account.
This type of loan offers you:
- A fixed rate in Uruguayan Pesos
- A maximum term to pay up to 24 months.
- The maximum amount they loan you is up to $ U200,000 Uruguayan Pesos.
The benefits associated with this credit are the following:
- Credit approval is fast, which could put you in the category of On-line loans on the spot and Fast credit online.
- There are no extra charges for early cancellation of the loan.
- Being “No Account”, you do not need to open a Savings Bank at HSBC Bank.
Requirements for HSBC personal bank loans
The requirements that you must cover if you want to access a HSBC personal loan are as follows:
- The age of the loan applicant must be between 25 and 70 years old
- The minimum income that you must have apply to the loan must be:
- For credits up to $ U 50,000 Uruguayan Pesos (inclusive) the nominal monthly income must be $ U 20,000 Uruguayan Pesos.
- For credits greater than $ U 50,000 Uruguayan Pesos Monthly Nominal Income has to be $ U 30,000 Uruguayan Pesos.
- The minimum work seniority required varies depending on whether you are employed as a dependency, or professionals, and is as follows:
- For employees the minimum required is 12 months in the labor market and a minimum of 6 months at the same job.
- For professionals and independent workers, the required seniority is 2 years of stable work.
You can find more information about the HSBC personal loan in the product primer, available at the following link 👉 HSBC personal loan product primer.
Bank loans in Uruguay
In Uruguay there are several banking institutions that offer different types of loans. Here are some of the credit offers offered by both national and foreign banks.
There is so much loan and credit offer in Uruguay, from personal loans, mortgage loans and car loans, that it is difficult to keep up with everyone.
For that reason we create Alert Loan! by Expertbehind, a new way of keeping up with the loans that come out to the national market.
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Cover photo by Dmitry Demidko.