Flexible Line

This credit facility, available through your checking account, allows you to meet your immediate urgencies or needs

Advantages

• No commission charges
• Insurance coverage in case of death, unemployment or total disability
• Requires few documents
• Without warrantees
• No debt level assessment required
• Fast approval
• Maturity after 12 months, renewable

In addition, cash will be available through:

• Our ATM network
• Payments by check
• Purchasing from the various local stores  

Benefits

• Security in your transactions
• Meeting your needs or urgencies
• You can pay with your salary or schedule recurring payments

Flexible Line Limit

• From USD 25.00 to USD 5,000

Main Requirements

• Having good credit references (internal and external)
• Being Panamanian or foreign
• Having resided in Panama for at least 2 years
• Between 18 and 75 years of age     

Main Documents Required

• Valid ID card or passport
• Products / Services Contract
• Foreigner questionnaire or memo (if applicable)
• Printed APC references
• Customer’s signature on two Collective Life Insurance Policy Certificates

Remarks: Should opening a checking account be required, the regular policies and procedures for opening one will apply

How to get it?   

• To get your flexible line, all you have to do is go to one of our branches. For further information, call Telephone Banking at 321- HSBC (4722)

For more information, visit any of our branches nationwide

Frequently Asked Questions

1. What is the interest rate?
The interest rate will depend upon the segment you belong to:

• Premier
• Advance
• Cuenta con Todo

2. What does rotating line of credit mean?
If you use your Flexible Line partially or fully and later you pay off the amount used, you will again have the full amount available.

Example 1: If the ceiling of your Flexible Line is $100 and you use $25, you have $75 available. When you pay off the $25, you have $100 available to use it again.

Example 2: If the ceiling of you Flexible Line is $150.00 and you use 150.00, when you pay it off at the end of the month, you will again have the full line available

  3. When is the balance used due?
The balance used must be paid the last business day of each month by making a cash deposit to the account or transferring funds from any of your other accounts through online banking. You will then have the full amount of your Flexible Line available again. 

4. If I do not use the Flexible Line, will interests be charged
If you do not use the flexible line, you are not charged any interests. This products charges interests on the outstanding balance or amount used on a daily basis, and they are shown at the end of each month

5. In order to renew my Flexible Line, must I fill out a new application or submit new documents?
A new application or new documents are not required, since the renewal process is automatic.

6. My age is taken into account for the insurance. What is the fee, and does it change every year?

• Insurance coverage is from 18 to 73 years.  
• The fee does not change every year, it changes according to the amount approved.  

7. Is my Flexible Line available to all the signatories of the account?
Yes, it is available to all the signatories of the shared or joint account, but the main signatory will be the responsible party

8. Is there any penalty for paying off my Flexible Line before it is due?
No, there is no penalty whatsoever

9. May I use my Flexible Line overseas?
Yes, while overseas, you may use your Flexible Line through the ATMs affiliated to the Plus network

10.Is a 7% tax rate charged on the amount used?
The Flexible Line does not charge any type of banking commission, and this is the 7% ITMBS is not charged either. The only charges made are the interests on the amount use and the insurance fees, which already include the insurance tax