If you need funds urgently to meet an unexpected situation, just turn to HSBC! With our Personal Secured Credit facility, we can arrange a credit facility for you, secured against time deposits and Government securities.
Benefits:
- Cash emergencies are no longer a problem
- You can make repayments as and when you like and the amount repaid can be withdrawn for use again - giving you a ready emergency fund. What's more, interest is only charged on the utilised portion.
- You can re-invest your money while your primary investment remains intact and this enables you to have the flexibility to meet your short-term commitments without unlocking your long-term investments.
Personal Secured credit against foreign / local currency deposits
- Overdraft facility
- 90% of deposit lent out in Pak Rupees
- 10% margin requirement
- Quarterly mark-up payments
- Minimum deposit for Overdraft USD10,000 or PKR500,000
- Complete lien against the account through security documentation
How is the mark-up calculated?
Mark-up is calculated daily on the day end overdrawn balance and is payable quarterly.
How do you pay back?
Facilities are repaid when either time deposits are withdrawn or Government Securities encashed.
Need to know more?
