01 Jun 2019

A question about : 0 APR personal loan

Hello,
I'm looking for a personal loan up to 2k over 1year. I can setup a direct debit for repayments during this period (166/month).
What would be the best option to apply for it, please?
Many thanks in advance.

Best answers:

  • You won't get a 0% APR loan.
    Have you considered a 0% purchases card?
  • or if the place you need to use the money doesnt accept CCs then a money transfer card could be of use. Although is not going to be 0%, will be a few % is probably going to be the cheapest way bar borrowing money from someone you know for free.
  • There's no way you'll get a loan at 0% APR. Even 0% credit cards have a fee.
  • A Free loan?
    If you find one, let the rest of us know so we can take one before they go bust.
  • His 75k investment must have gone down the pan.
    Btw, 166 x 12 isn't 2000.
  • Thanks a lot for all your replies.
    75k investment is still in the sight but didn't find the best way forward as yet. The problem with that is GBP/EUR exchange rate as my savings are in EUR and I've missed to exchange them when was 1.24 and now is 1.37 !!! Biting my nails but wasn't down to me at the time.
    I can't dip into my savings so I'd guess a money transfer card is the only option.
  • You should save Ј166 a month for the next 12 months, then you will of saved up Ј1992.00 for free and you may even get the other Ј8 from the interest which would make up your Ј2K.
    No such thing as 0% APR loans apart from family and friends, if they are daft enough.
    Good lucks
  • There aren't any commercial loan providers that lend money for free! Your only potential route for a free loan is credit cards, with two options.
    If you can pay this Ј2000 by credit card, then look for a card which offers interest free purchases for a long period (18 months+). You might even get some reward points or cashback too if you play it right, and there wouldn't be any fees as long as you paid it back in time.
    If not, you will need a card which offers a super balance transfer, which is a balance transfer to your current account. The fee for this is typically fixed at around 3% of the transfer amount. This rounghly translates to an APR of 6% (assuming make equal payments over a 12 month period), however you could partially offset this by only making the minimum payments until the end of the offer and putting the rest into a high interest current account (5% TSB/Nationwide) or regular saver (6% First Direct).
    See Martin's guides and eligibility checker for more information on available cards.
Category: 
Please Login or Register to reply to this topic