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What is HSBC Credit Card Interest Rate on Cash Transactions?

If you are an HSBC Credit Card customer and need urgent lump sum cash, use the cash on EMI feature of your HSBC Credit Card. Yes, you can borrow cash from your credit card and repay it in equated monthly instalments as per your chosen tenure. For this, HSBC Bank charges an interest rate from 10.99-21.00% per annum. And the plus point is there is no need for documentation, you can use this service by just giving an SMS. Let’s read this article and know more about this HSBC Credit Card service.

How Much Can You Borrow from HSBC Credit Card?

The cash transaction limit may vary as per your HSBC credit card, as the bank has a wide range of credit cards for customers. You will be able to withdraw cash at an ATM from your HSBC credit card within your cash withdrawal limit. And this cash withdrawal limit is communicated to the customer at the time of delivery of the credit card and also in your credit card statements.

So, do check your credit limit while using the HSBC Credit Card Cash on EMI Feature.

What is the Repayment Schedule for HSBC Credit Card Cash on EMI?

You can repay the cash transaction amount in equal installments of 6, 12, 18, 24 and 36 months. And you should choose a tenure where the EMI is less and the interest outgo is affordable to you. The EMI amount won’t be included in the credit card monthly bill statement, as you have converted the balance outstanding amount of your cash transaction into easy EMIs through HSBC balance conversion facility.

Additional Charges for HSBC Credit Card Cash on EMI!

HSBC Bank will charge a processing fee of 2% for the facility cash on EMI, which is subject to  minimum INR 200. The processing fee will apply on the amount of each cash advance transaction from your HSBC Credit card.

How to Apply for HSBC Credit Card Cash on EMI?

To use this HSBC Credit card facility, you need to follow the below instructions.

  • Visit the HSBC Bank official website

  • Login to your HSBC Credit Card account

  • Select ‘Cash on EMI’ facility 

  • Click on the ‘Apply Now’ button

Then an online application form will appear on your screen where first you need to agree to the bank terms and conditions and after that fill in the following details like:-

  • Title such as Mr, Mrs, Miss, Ms

  • First Name

  • Last Name

  • Customer ID

  • Registered mobile number

  • email address

  • HSBC Bank credit card number

  • Cash installment plan amount

  • Cash installment plan tenure

  • Select the bank where you want to transfer these funds

  • And at last enter your bank account details

You can also simply send an SMS ‘COE’ to 575750 and later the HSBC representative will call you back regarding your cash on EMI request.

So worry no more, because HSBC credit cards are always available for your service whenever you need urgent cash.

Note - Only the select HSBC Credit Cardholders will be eligible to avail of Cash on EMI feature. Issuance of this facility is at the sole discretion of The Hongkong and Shanghai Banking Corporation Limited, India.

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