HSBC Loan % back at the end of the term

gavp65

Hi, just wondering if anyone has ever taken a recent loan with HSBC and do they know if it pays a % of the amount borrowed back after the last payment. When I took the loan, i asked about early repayments and was told it wasnt advisable as i wouldnt get the % back from HSBC at the end of the agreement. Trouble is i cant find the loan agreement.
Does anybody know the answer??

thanks

qpop

I had the same thing. If you had an Advance account when you started the loan payments you may be entitled to 10% of the interest paid as cashback on redemption. You will still be eligible even if you've cancelled the "advance" element of the account.

The thing is, there is still a huge argument for early repayment if you want to, as you will still save interest over the term (unless, I suppose, you were paying it off in the last 10% of the term)

gavp65

Yeah im sure I had the advance account when i took it out other wise the women who sorted the loan wouldnt have told me. Im probs guna have to ring them and see what they say as i dont wana pay it off early, like you say, and then miss out on £xxx back.

Cheers anyway