Currently, the size of HSBCs retail loan corpus in India is Rs 3,500 crores. Of this, the housing loan segment alone accounts for Rs 2,000 crores alone and the rest is accounted for by personal loans.
In the last financial year, retail loan disbursals aggregated to Rs 200-250 crore. Mr Winsor was speaking at the launch of My Terms Credit, a personal loan product that offers easy repayment terms.
Unlike other personal products with fixed monthly installments, fixed tenures and fixed interest rates, this product gives customers the flexibility to choose the repayment plan that suits their needs, said Mr Winsor. However the interest rate of the product is the same as the market rate of 15-20 per cent. Regarding the fierce competition in the credit cards segment, after cards were launched by both ICICI Bank and StanChart, Mr Winsor said, HSBC will adopt a wait and watch policy to the price war in the credit card segment.
The bank plans to focus on brand building of their card, said Sangeeta Pendurkar, Head-Marketing of HSBC. HSBC recently opened a branch at Ahmedabad and has regulatory approval to open more branches at Baroda and Indore.