About Household Bank Personal Loans

Household Bank is part of HSBC, one of the world's largest financing companies. Household Bank offers various personal loan options through two different banking branches: HFC and Beneficial. Which is right for you depends largely on your specific personal loan needs and your credit history. Personal loans are a good option for individuals needing to borrow a specified amount of money over a short period of time. The application process is simple and can be started online.


Household Bank is part of HSBC (The Hongkong and Shanghai Banking Corporation), which was founded in 1865. It originally was created to finance trade between China and Europe. However, today, HSBC has grown to be one of the largest financing companies in the world, with over 9,500 offices in 85 countries worldwide.


Household Bank offers personal loans through two different branches. HFC (Household Finance Company) and Beneficial are the two arms of Household Bank that offer personal loans. Beneficial specializes in loans for those who have bad credit or less-than-perfect credit records. HFC is geared toward individuals who need to get cash quickly.

Types of Loans

There are two main types of personal loans available from Household Bank. You can choose either a personal installment loan or a personal line of credit. A personal installment loan is a one-time loan where the borrower receives the entire loan amount all at once. It is also referred to as a closed-end loan. A personal line of credit is different from a personal installment loan because you do not have to use the entire loan amount all at once. You can use it gradually, when you need it, and even write checks up to the loan amount. It is often referred to as an open-end personal loan because of its open-ended nature.

Loan Function

A Household Bank personal loan is a logical option for individuals who need to borrow a specific amount of money for a short period of time. Household Bank personal loans are unsecured, meaning you are not borrowing against the value of your home. Because no home appraisal or title search is necessary, there is minimal paperwork involved, and the loan application can be processed more quickly.

Loan Process

The process of applying for a Household Bank personal loan is simple. First, an online application must be submitted. Within two business days, a Household Bank representative will contact you to discuss possible personal loan options and set up a face-to-face meeting. If your loan is approved, Household Bank will either write you a check or deposit the loan amount directly into your bank account.