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Loan/Overdraft advice.

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Hi all, I am after some advice.

I currently have a graduate overdraft with TSB of which I am £1400 into. It has two years left of being 0% interest.

I also have a graduate loan of £2000 @11% apr with 28 months left of repayments at £82 a month.

I'm going to come into some money and can afford to probably pay all of my overdraft off or most of my loan, and I am wondering which I am better off doing?

Comments

  • jonesMUFCforever
    jonesMUFCforever Posts: 28,898 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Pay the loan off as you will not get anything like the interest charged on savings accounts. Leave the overdraft for now as it is not costing you anything - put enough to pay it off just before they start to charge you interest.
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