Short Term No Interest Payment Loan

DaveRobs

Hello all,
This is my first post. Can anyone assist me, I am due to retire in September 2012 with a golden handshake of approx £50k. I have just booked a holiday for my family costing £15k. I have paid a deposit of £1200 (via credit card incurring a 2.5% fee).
I require a £15 loan to pay for the complete holiday which will be paid off in full in September. My searches so far have all required a monthly repayment over a minimum of 12 months.
Which is the cheapest way to pay for my holiday ?
Many thanks

[Deleted User]

Depends on your history. You might get something under 10%. Or not, depending on what's on your report.

But it won't be a 'no interest' loan. Banks have found there's not enough profit in lending at 0%, surprisingly.

I wouldn't worry about the 12 month term. You could always settle early.

TadleyBaggie

£15? Have you checked down the back of the safa?

Seriously, do you really think a financial lender is going to lend money with no interest? The only possible way would be a credit card that is offereing 0% on purchases, but 15K is quite a high credit limit.

Your next best way would be a loan at a low rate (i.e. 6 to 7%) and pay it back early.

Firefox1975

DaveRobs wrote: »

Hello all,
This is my first post. Can anyone assist me, I am due to retire in September 2012 with a golden handshake of approx £50k. I have just booked a holiday for my family costing £15k. I have paid a deposit of £1200 (via credit card incurring a 2.5% fee).
I require a £15 loan to pay for the complete holiday which will be paid off in full in September. My searches so far have all required a monthly repayment over a minimum of 12 months.
Which is the cheapest way to pay for my holiday ?
Many thanks

wait till September and pay it off in one go from your 50K.

In all honesty, your question needs restructuring!

jonesMUFCforever

Have you considered that only the first £30k of your leaving sum will be tax free so expect a tax bill on the other £20k!

davec1960

jonesMUFCforever wrote: »

Have you considered that only the first £30k of your leaving sum will be tax free so expect a tax bill on the other £20k!

OP may have worded it badly and the £50k may be all or part of a tax free sum from his pension

_Andy_

DaveRobs wrote: »

I require a £15 loan

I'll chip in a quid if 14 over posters here will. Problem solved.

DaveRobs

I will have to pay the whole balance on the holiday by mid May 2012

DaveRobs

I wanted to know if it was possible to use an 0% credit card to save on bank loan charges

DaveRobs

thanks for the offer of the pound, my mistake, i would require another 14999 of them :-)

Tixy

You could use a 0% credit card - either if you already have one, or if you can obtain one with a high enough credit limit.

If you pay by credit card you'll incur the 2.5%, whether that would work out cheaper than a personal loan depends on what loan deal you could get.