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HSBC

HSBC Fixed rates: 1.84% 2-yr & 5-yr, 1.64% 5-yr Insured (with cashback ends Oct 30!)

  • Last Updated:
  • Mar 10th, 2022 7:38 pm
Deal Fanatic
Dec 24, 2005
5853 posts
1695 upvotes
if i dont have a mortgage - but a very large heloc with hsbc - would i get a premier account for free?
Deal Addict
User avatar
Sep 5, 2004
4657 posts
1385 upvotes
Guelph, ON
Does HSBC charge any costs to setup a HELOC on a mortgage transfer that does not have a HELOC? FYI, not a CHMC or high ratio mortgage.
Sr. Member
Oct 12, 2005
907 posts
820 upvotes
Vancouver
picturethismister wrote: What are the benefits of the Premier account?
Unlimited withdrawals and deposits on your Premier chequing accounts (available in Canadian and US Dollar)
Free personalized cheques
No fees when you send an INTERAC e-Transfer® from your HSBC Premier chequing account (Canadian accounts only)
No fee access to 3,300 HSBC ATMs and THE EXCHANGE® ATMs across Canada and unlimited rebates on other banks ATMs in Canada (up to $2.00 rebate per withdrawal fee)
$0 wire transfer fees** View footnote * when you send foreign exchange wire transfer less than $10,000
Bank drafts in Canadian Dollars, U.S. Dollars, and most other major world currencies
HSBC Premier World Elite Mastercard available - $50/year annual fee (regularly $150)

HSBC Premier Eligibility:
- Have an active Premier chequing account, and
- Maintain a $100,000 balance in combined personal deposits and investments with HSBC Bank Canada and its subsidiaries
- Reach a Total Mortgage Balance of $500,000 or more
- Deposit $6,500 (CAD) or more to you HSBC Premier account(s) monthly plus confirmation of $100,000 or more in deposits and/or investments in Canada
Everyday banking essentials plus exclusive benefits including a dedicated Premier Relationship Manager as your one point of contact for all your financial needs.
sixer wrote: Does HSBC charge any costs to setup a HELOC on a mortgage transfer that does not have a HELOC? FYI, not a CHMC or high ratio mortgage.
As far as I know, they seem to charge the FNF fees (~$600) regardless and that will also cover setting up the HELOC.
Newbie
May 1, 2008
5 posts
1 upvote
Mississauga
whoever is offering 2.04% fixed, pls PM me. Mortgage renewal with $440k renewal balance. Thanks.
Newbie
Jan 29, 2012
81 posts
31 upvotes
Ottawa
I have an uninsured mortgage and HELoC with balance, both from TD. The mortgage amortization is 30 years, started 6 years ago, but have 22 years left because of prepayments.
Can I swich both to HSBC without paying the HELoC balance before the switch? Would I keep the same amortization? What is the rate offered on the HELoC?
Jr. Member
Jun 7, 2017
190 posts
81 upvotes
I have a variable 1.65% with RBC around 300k, i have been asking to switch to a fixed one since they are low now, however, everytime i asked RBC to match, they said you got pretty good rate, wait, when it's about to go up then switch.
I'm not quite sure if this make sense? can anyone give me an advice, please.

Thanks,
Sr. Member
Oct 12, 2005
907 posts
820 upvotes
Vancouver
minaso wrote: I have an uninsured mortgage and HELoC with balance, both from TD. The mortgage amortization is 30 years, started 6 years ago, but have 22 years left because of prepayments.
Can I swich both to HSBC without paying the HELoC balance before the switch? Would I keep the same amortization? What is the rate offered on the HELoC?
HSBC told me the rate for HELOC was p+0.5% for Advance (mortgage 150-499k) and p+0.25% for Premier (mortgage 500k+) YMMV. They should be able to switch the HELOC over without you having to pay it off. Rates for uninsured mortgage are 2.44% fixed and 2.25% (p-0.2%) variable. You can likely do better through a broker or even through a big 6 right now. Take a look at official-mortgage-rates-thread-351105/4019/#p32604758. Also apparently National Bank has some really good rates right now but they don’t post them online, might be worth calling them to find out too.
Banned
Sep 19, 2012
1253 posts
1867 upvotes
Calgary
minaso wrote: I have an uninsured mortgage and HELoC with balance, both from TD. The mortgage amortization is 30 years, started 6 years ago, but have 22 years left because of prepayments.
Can I swich both to HSBC without paying the HELoC balance before the switch? Would I keep the same amortization? What is the rate offered on the HELoC?
Very likely no. I don't think you can have HSBC mortgage + HELOC + TD HELOC. TD won't let that happen (and they'll operationalize that by not allowing a "postponement" of their HELOC). That simply means they won't let HSBC go in front of them in priority once HSBC registers a new mortgage after discharging the TD mortgage.
ejohan wrote: Also apparently National Bank has some really good rates right now but they don’t post them online, might be worth calling them to find out too.
None of the big banks post their best rates online. It's quite annoying really. I would treat getting a mortgage kind of like buying a car. It's a negotiation and what you get is completely dependent on your leverage. You said it right, YMMV!.
Nikola Alaica, CPA, CA | Tax, Accounting, Mortgages
Newbie
Dec 9, 2019
85 posts
29 upvotes
CruzControl wrote: whoever is offering 2.04% fixed, pls PM me. Mortgage renewal with $440k renewal balance. Thanks.
Not the OP but I met with HSBC in person today to go over the 2.04% rate which can be for uninsured (wow!) mortgages. Note that this is a promo for the new Markville branch in the GTA. I know this is different from how the OP got his.
Member
Sep 12, 2008
372 posts
108 upvotes
Toronto
magik23 wrote: Not the OP but I met with HSBC in person today to go over the 2.04% rate which can be for uninsured (wow!) mortgages. Note that this is a promo for the new Markville branch in the GTA. I know this is different from how the OP got his.

Is it possible to PM the contact info of the person?
Sr. Member
Sep 8, 2010
723 posts
917 upvotes
Ottawa
I have an appointment at the Ottawa office Wednesday. Anybody have a recommendation for a Mortgage Specialist there?
Jr. Member
Oct 27, 2011
100 posts
8 upvotes
magik23 wrote: Not the OP but I met with HSBC in person today to go over the 2.04% rate which can be for uninsured (wow!) mortgages. Note that this is a promo for the new Markville branch in the GTA. I know this is different from how the OP got his.
Can you PM me the contact info of the person from HSBC Markville branch? Thanks!
Deal Addict
Jul 30, 2005
2348 posts
258 upvotes
I was very skeptical going with HSBC initially - yesterday I finalized / got the 2.04% (renewal for an uninsured mortgage) rate at another HSBC branch in Mississauga - had a very good person at the bank whom I dealt with. Super responsive and on the ball - totally different experience from my previous agent. Happy to share her details for anyone going this route.

I tried to get the appraisal fees waived but they wouldn't budge.

Just a couple of things to note for the RFD'ers who are looking into this. The terms for getting the $500 bonus for opening a premier account have changed. Now you need to fund your new account with $25K or more and leave the money there for atleast 3 months. Previously I think you just had to fund it with $25K initially (within 30 days of opening) and you could remove the fund after 3 or 4 days. I am still going to give this a shot - will use my LOC and move funds over for 5 days.

There are other small bonuses available as well - $100 to transfer pay roll. $50 for doing a recurring payment - $50 for paying an online bill etc.

Happy to answer any questions that folks may have - has been a good experience so far.
Newbie
Feb 16, 2015
12 posts
Toronto, ON
That’s great to hear! Can you PM me her contact?
Have been looking for a contact at HSBC.
addicted2it wrote: I was very skeptical going with HSBC initially - yesterday I finalized / got the 2.04% (renewal for an uninsured mortgage) rate at another HSBC branch in Mississauga - had a very good person at the bank whom I dealt with. Super responsive and on the ball - totally different experience from my previous agent. Happy to share her details for anyone going this route.

I tried to get the appraisal fees waived but they wouldn't budge.

Just a couple of things to note for the RFD'ers who are looking into this. The terms for getting the $500 bonus for opening a premier account have changed. Now you need to fund your new account with $25K or more and leave the money there for atleast 3 months. Previously I think you just had to fund it with $25K initially (within 30 days of opening) and you could remove the fund after 3 or 4 days. I am still going to give this a shot - will use my LOC and move funds over for 5 days.

There are other small bonuses available as well - $100 to transfer pay roll. $50 for doing a recurring payment - $50 for paying an online bill etc.

Happy to answer any questions that folks may have - has been a good experience so far.
Deal Addict
Jul 30, 2005
2348 posts
258 upvotes
tanman49 wrote: That’s great to hear! Can you PM me her contact?
Have been looking for a contact at HSBC.
PM sent.
Member
Sep 12, 2008
372 posts
108 upvotes
Toronto
Can you PM the contact for the mortgage specialist? Thanks.
addicted2it wrote: I was very skeptical going with HSBC initially - yesterday I finalized / got the 2.04% (renewal for an uninsured mortgage) rate at another HSBC branch in Mississauga - had a very good person at the bank whom I dealt with. Super responsive and on the ball - totally different experience from my previous agent. Happy to share her details for anyone going this route.

I tried to get the appraisal fees waived but they wouldn't budge.

Just a couple of things to note for the RFD'ers who are looking into this. The terms for getting the $500 bonus for opening a premier account have changed. Now you need to fund your new account with $25K or more and leave the money there for atleast 3 months. Previously I think you just had to fund it with $25K initially (within 30 days of opening) and you could remove the fund after 3 or 4 days. I am still going to give this a shot - will use my LOC and move funds over for 5 days.

There are other small bonuses available as well - $100 to transfer pay roll. $50 for doing a recurring payment - $50 for paying an online bill etc.

Happy to answer any questions that folks may have - has been a good experience so far.
Member
Dec 20, 2010
452 posts
157 upvotes
Toronto
addicted2it wrote: PM sent.
I’ll take that info as well if you don’t mind! Thanks!
Gullible? Click here to find out!
Newbie
Mar 21, 2012
78 posts
37 upvotes
Toronto
Hey,

My mortgage is up for renewal in September (uninsured) and if you don't mind sharing her info, that would be awesome.
Thanks for sharing your experience


addicted2it wrote: I was very skeptical going with HSBC initially - yesterday I finalized / got the 2.04% (renewal for an uninsured mortgage) rate at another HSBC branch in Mississauga - had a very good person at the bank whom I dealt with. Super responsive and on the ball - totally different experience from my previous agent. Happy to share her details for anyone going this route.

I tried to get the appraisal fees waived but they wouldn't budge.

Just a couple of things to note for the RFD'ers who are looking into this. The terms for getting the $500 bonus for opening a premier account have changed. Now you need to fund your new account with $25K or more and leave the money there for atleast 3 months. Previously I think you just had to fund it with $25K initially (within 30 days of opening) and you could remove the fund after 3 or 4 days. I am still going to give this a shot - will use my LOC and move funds over for 5 days.

There are other small bonuses available as well - $100 to transfer pay roll. $50 for doing a recurring payment - $50 for paying an online bill etc.

Happy to answer any questions that folks may have - has been a good experience so far.
Deal Addict
User avatar
Nov 25, 2013
1220 posts
714 upvotes
Sauga
My mortgage is up for renewal in July (insured) and if you don't mind sharing her info, that would be much appreciated .
Thanks for sharing your experience to the RFD family. RBC's renewal offer is 2.30 for 5 yrs fixed. Are a lot of folks who have renewals coming up looking to get a variable rate or fixed rate now?

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