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Clear Loan or ...
Saints2011
Posts: 933 Forumite
Evening, just looking for a bit of feedback really.
Loan Amount: £1000
APR: 9.9% taken over 18months (where can make overpayments without any fees.)
Monthly Repayment: £59.84
Interest over term: £77.12
Opened 1/06/11
The question I am asking myself is that I will have about £1200 extra this month in my salary now I am thinking of saving it into my isa which currently has £2400, now if I saved this £1200 it would get me 4.20%AER which is obviously a lot less then the loan. But I prefer seeing my savings build up which I started at the end of April. Just not sure whether I should just say b*llocks to it pay of the loan and then that will be that but the other part of me is saying an extra £1200 in my savings would make me feel happier :rotfl:but in the same breath want the debt gone :rotfl:
What we thinking?
Loan Amount: £1000
APR: 9.9% taken over 18months (where can make overpayments without any fees.)
Monthly Repayment: £59.84
Interest over term: £77.12
Opened 1/06/11
The question I am asking myself is that I will have about £1200 extra this month in my salary now I am thinking of saving it into my isa which currently has £2400, now if I saved this £1200 it would get me 4.20%AER which is obviously a lot less then the loan. But I prefer seeing my savings build up which I started at the end of April. Just not sure whether I should just say b*llocks to it pay of the loan and then that will be that but the other part of me is saying an extra £1200 in my savings would make me feel happier :rotfl:but in the same breath want the debt gone :rotfl:
What we thinking?
Can I find out my credit score?
You do not have a single credit score or rating. Different organisations take different information into account when working out your credit score and may have different scores for different products. (Kindly from Experian)
0
Comments
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i would:
pay off loan
put remaining £200 into ISA
put the £60 a month you were paying to loan into savings instead.
good luck:)0 -
Thank you, sounds like a good idea!
I try and save £450 pcm into the ISA as well + £50 pcm into bonds.Can I find out my credit score?You do not have a single credit score or rating. Different organisations take different information into account when working out your credit score and may have different scores for different products. (Kindly from Experian)0
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