Possible free money from Virgin Loan

steve$$$$$_5

I received a leaflet from Virgin today offering me a personal loan for £3000 to
£25000,with the option of stalling the first four months of repayment.

So i was thinking of applying,putting the money in savings account for four
months and then repaying the loan.

Leaflet does not offer very much t&c's,but it does state that there is no
penalty for early repayment.Had a look on their website,but no mention of this offer.

What do you think ?

musicboy

There won't be a penalty for early repayment, but you will still get charged interest during the four months ... then because the interest rebate you get when you pay it off will not be 100%, you will end up paying for the money over that four months ...

I may be wrong but I can't see 'em giving it away, Branson's always smiling isn't he ... hehe

steve$$$$$_5

musicboy wrote:

There won't be a penalty for early repayment, but you will still get charged interest during the four months ... then because the interest rebate you get when you pay it off will not be 100%, you will end up paying for the money over that four months ...

I may be wrong but I can't see 'em giving it away, Branson's always smiling isn't he ... hehe

No,I think you are right,I will collect my coat on the way out.

Cheers