HSBC’s loan market encompasses personal loans, flexible loans and graduate loans, all of which are tailored accordingly.
HSBC doesn’t just offer a wide range of banking facilities to its customers in the United Kingdom, it’s also one of the largest financial organisations in the world. Operating on a global scale, as of 2014 they were the second largest bank in the world.
The banking group as it is now was founded in London in 1991, but its history goes back much further, and the initials bear testament to its origins as the Hong Kong and Shanghai Banking Corporation.
The bank operates in over 60 countries, spread across the continents, and as of 2013 it had around 125 million customers, and employed approximately a quarter of a million staff.
The origins of HSBC began in Hong Kong in 1865. The founder was Sir Thomas Sutherland, a Scotsman who had taken advantage of trading links with China from the British colony of Hong Kong. A branch was opened in Shanghai one month after the Hong Kong launch.
It acquired many other financial institutions, including the US giant Marine Midland bank. In 1992 it bought the Midland Bank, giving it a real presence in the UK market. As part of this takeover, the bank was committed to moving its headquarters from Hong Kong to London.
As can be expected from a bank of its size, customers of HSBC can select from a comprehensive range of financial products. These include current and savings accounts, and investments, as well as borrowing services. Their loan market encompasses personal loans, flexible loans and graduate loans, all of which are tailored accordingly.
The Flexiloan option allows a customer to decide how much they repay each month, although a minimum monthly payment is applicable. They also provide a range of mortgages to both new and existing customers, and credit cards, including student credit cards.