Finding Financial Support

HSBC BM
Help and Support
Coronavirus
Financial support

Reduced Base Lending Rates

From 1 May 2020 onwards, we'll reduce our Base Lending Rates for business and retail customers taking out loans in BMD.

For retail customers: Base Lending Rates will be reduced by 0.25%, from 3.75% to 3.5%.

For business customers: Base Lending Rates will be reduced by 0.5%, from 4.75% to 4.25%.

If you took out a loan in USD, your loan will be adjusted based on prevailing market rates, per your contract terms.

Talk to us about debt relief

We understand if you're finding it hard to manage debt due to the COVID-19 coronavirus outbreak. Please get in touch with us and we'll review your request on a case-by-case basis so we can identify the best way to help you.

Business Banking customers can contact their dedicated Relationship Manager for assistance.

You can call us on +144 1 299 5959 or email us at hsbc.debt.relief@hsbc.bm. If you decide to email us, please make sure to include:

why you're seeking debt relief and financial support
your contact details

We may ask you a few questions after we've received your request. These questions will help us to understand your financial situation better, so that we can determine how best to support you. Don't worry, we'll keep it simple and we'll aim to give you an answer as soon as possible.

Frequently asked questions

We've made a number of provisions in light of the coronavirus situation. You can request for interest-only and/or deferred payments for up to 6 months on Personal Loans, Residential Mortgages and Home Equity Loans.

We can suspend repayments for credit cards and personal credit payments. We'll also waive credit card overlimit and late payment fees for March, April and May 2020.

There are no specific criteria for the debt relief options we're offering. We'll review each request on a case-by-case basis and tailor the support we can provide based on your financial situation.

Your credit won't be affected if you apply for debt relief such as interest-only and/or deferred payments. These measures are designed to ease financial difficulties you may face due to the coronavirus outbreak.

No, your ability to borrow in the future won’t be impacted by your requesting debt relief to alleviate money worries you may have due to the coronavirus situation. However, approval for your future credit applications will still be subject to meeting other checks.

Yes, you'll continue to be charged interest.

If you're granted an interest-only option, you'll only need to pay the interest charges during this period.

If you're granted deferred payments, you'll need to pay the additional interest first after the deferral period. Once you've paid it, your monthly payments will be adjusted based on the outstanding amount and loan maturity.

Yes, you can certainly arrange to do so. Please contact your Relationship Manager or call us on +144 1 299 5959.

If you are still concerned about your financial situation at the end of the deferral period, you can speak with your Relationship Manager to discuss your options or call us on +144 1 299 5959.

Not all customers may need debt relief at this time, but if you do, we're here to help. We'll review requests on a case-by-case basis so that we can better understand your circumstances and find the best options for you.

This way, we can tailor solutions to your unique financial situation and extend help to the customers who need it urgently.

Getting support

We're monitoring the COVID-19 situation closely and considering its impact on our customers, especially those in heavily affected sectors.

If you think you need a hand with your finances during this time, please call us on +144 1 299 5959. Corporate customers can get in touch with their dedicated Relationship Managers.

Disclosure

Issued by HSBC Bank Bermuda Limited, of 37 Front Street, Hamilton Bermuda, which is licensed to conduct Banking and Investment Business by the Bermuda Monetary Authority.

Reduced Base Lending Rates

Talk to us about debt relief

Frequently asked questions

What can HSBC do to relieve my debt?

How do I qualify for debt relief options?

Will my credit be affected if I apply for debt relief?

Will applying for debt relief impact my ability to borrow in the future?

Will I continue to be charged interest during the deferral period?

Can I resume my monthly payments ahead of the deferral period?

Can I extend the deferral period if my financial situation does not improve?

Why doesn't HSBC defer payments for all customers automatically?

Getting support

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