A. Introduction
We are interested in the loan services in the Hongkong and Shanghai Banking Corporation Limited (HSBC) because nowadays a lot of people have impulsive consumer behavior to bring about a loan. We think that loan services are important to finance a vacation or to make a tax payment, depending on the needs of the customer.
We will search the website of HSBC to find the useful information of loan services. It is because the information of HSBC is believable and useful.
B. Features / Characteristics of the Banking Products or Services
We choose the personal installment loan and revolving credit facility.
A personal installment loan is an HSBC loan that allows you to borrow up to HKD800, 000 and repay the loan in fixed installments.
Personal installment loan features are:
• Fast loan application approval and cash withdrawal within 5 minutes to provide you instant cash needs.*
• You can redraw the amount you need or the entire repaid principal without re-application**.
• Borrow a personal loan of up to HKD800, 000 or 8 times your monthly salary, whichever is lower.
• Benefit from great rates - the higher the personal loan, the lower the interest.
• Enjoy a personal loan repayment schedule of 6 to 48 months according to your needs.
• Proof of income is not required if you have been maintaining a payroll account with HSBC for the past one month. Irregular income earners (including customers working as part-time, on commission or profit sharing basis) are required to provide income proof of the past 3 months.
*Applications have to be submitted during the Bank's service hours (Mon-Fri: 9am-8pm, Sat 9am-1pm, accept public holidays, or individual branch's opening hours) with all required information (including withou...
... middle of paper ...
... in the app to provide the customers. It can increase HSBC bank’s image.
The consumers need to consider when choose the loan services. Customers need to consider that is it has enough ability to repay a debt and expensive interest rate.
Works Cited
1) Hong Kong Institute of Bankers, Essentials of Banking and Financial Planning Study Manual, 2006, Chapter 2, pp. 1-22
2) Hong Kong Institute of Bankers, Hong Kong Banking System and Practice, 4th Edition, 1998, Chapter 7, pp.102-119
Website
1. http://www.hsbc.com.hk/1/2/home
2. http://wiki.answers.com/Q/What_are_the_Advantages_and_disadvantages_of_a_bank_loan#slide2
3. http://www.standardchartered.com.hk/borrow/loans-revolving-cash-card.html
4. http://www.hsbc.com.hk/1/2/special/loans/rcf
5. http://www.standardchartered.com.hk/borrow/loans-personal-instalment.html
6. http://www.hsbc.com.hk/1/2/hk/loans/pil
Designed for the people having a large sum of loan to pay, compared to your monthly income.
This chapter covers the overview of the country in a short history, banking system, commercial banks and interest rate theory. The chapter provides also the theoretical review of interest rate and profitability.
Financial Accounting Standards Board. (1985). Statement of Financial Accounting Standards No. 86. Norwalk. Retrieved April 7, 2014, from http://www.fasb.org/cs/BlobServer?blobkey=id&blobnocache=true&blobwhere=1175820922177&blobheader=application%2Fpdf&blobheadername2=Content-Length&blobheadername1=Content-Disposition&blobheadervalue2=189998&blobheadervalue1=filename%3Dfas86.pdf&blobcol=url
HDFC has identified its mission as becoming “a world class Indian bank” as good as it sounds from a business perspective, hackers find this fun to break down. It will inevitably become a target for sophisticated attacks. HDFC already has a technology-intensive system in place to analyze transactions and assign risk rates to them, the higher the rate the more chances are of a fraud. It provides a cool-period for transactions to be fully completed, using standard checks such as passwords and ID’s. What I believe HDFC should add to the pot is security of its website by itself, awareness of customers and employees, better security procedures, and commitment of the management.
Ross, S.A., Westerfield, R.W., Jaffe, J. and Jordan, B.D., 2008. Modern Financial Management: International Student Edition. 8th Edition. New York: McGraw-Hill Companies.
Binhammer, H. H. & Peter S. Sephton. Money, Banking and the Financial System. Nelson, 2001.
Another pivotal issue was that of the multichannel integration—call center, branch, ATM, and Internet—which is immensely important for large financial institution like ICBC to attract and retain customers with the promise of “anytime, anywhere” account access. Customers are eager to have the kind of flexibility to use whichever channel is most appropriate at a particular time. Continuing with the same point the, ICBC was also concerned about the relative penetration of the existing as well as new customer base to gain access to the banks new technological proposition.
Ritter, Lawrence R., Silber, William L., Udell, Gregory F. 2000, Money, banking, and Financial Markets, 10th edn, USA.
The lifestyle of people across the world is developing rapidly. As there is a growing concern for people about the lifestyle and way of living, the scope for the microfinance industry is also at a growing pace. A large number of people across the world prefer finance for the purpose of purchase of consumer durables as well as lifestyle products. As the credit card EMI options are more expensive, people prefer NBFCs for the purpose of consumer durable loans. The project done in bajaj finserv explains the role of NBFCs in the consumer durable loans and the procedure undertaken in order to disburse the consumer durable loans.
Borrow long-term loans from local banks – These are a common way of financing major purchases of an organization. An advantage is that it is directly linked to an organizations operating capacity. Another advantage of long-term loans from local banks is that it enables a firm engage in large projects. Although its disadvantage is that the banks charge high interest rates.
Gregor Meerganz von Medeazza, Economic and Political Weekly, Vol. 41, No. 11, Money, Banking and Finance (Mar. 18-24, 2006), pp. 949-952
Based on the loan features(interest rates & other charges),eligiblity criteria and services provide the following case study of main players for home loans is given below:
...formal banks for credit at low interest rates that allow them to repay loans in easy instalments.
It is true, that Internet Banking is useful for customers as well as for the banks. On the one hand, it helps people have direct and quick access to their bank accounts, on the other hand, helps the banks to save costs. ‘Clearly, in order to conti...