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HSBC Personal Loan - Moving Current Account
Toonshorty
Posts: 6 Forumite
in Loans
Hi All,
Not sure whether this is best suited in the Loans or Current Accounts section, so apologies if this is in the wrong board. I've currently got a current account with HSBC but no savings accounts. Since I'm at the point now where I'm saving a significant amount of money every month it makes sense to switch to a Santander 123 current account and get the 3% interest rate.
The only concern I've got is that my HSBC account also has a personal loan which was sold as "Available exclusively to HSBC current account customers". If I was to switch to a different bank, would this have any impact on the loan - or does this condition only apply during the application process?
Not sure whether this is best suited in the Loans or Current Accounts section, so apologies if this is in the wrong board. I've currently got a current account with HSBC but no savings accounts. Since I'm at the point now where I'm saving a significant amount of money every month it makes sense to switch to a Santander 123 current account and get the 3% interest rate.
The only concern I've got is that my HSBC account also has a personal loan which was sold as "Available exclusively to HSBC current account customers". If I was to switch to a different bank, would this have any impact on the loan - or does this condition only apply during the application process?
0
Comments
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No it won't. Don't worry, just set the dd up from your new account.0
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You'll be fine switching.
If you want to get extra peace of mind check the T&Cs - they will mention about having a current account at the time of taking the loan but nothing about keeping it for the duration of the loan.0 -
You'll be fine. Mine was available only under offer as an Advance Customer. I downgraded about 10 months later, and 12 months after that I switched to Halifax. My loan stayed with HSBC and the Direct Debit changed under the switch service. All ok!26/05/2018 = I DID IT! I am DEBT FREE!
Debts repaid since 06/02/2015 = £23,079
Mortgage...forever!!!! - But who cares, when all I've ever wanted is my own place!:j0 -
I'm not a HSBC customer but I was a NatWest customer who switched to Lloyds Bank.
I've had no problems (touch wood!) with the loan account remaining open with them.It's not your credit score that counts, it's your credit history. Any replies are my own personal opinion and not a representation of my employer.0
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