£5000 urgent loan

Evokin

Tarambor wrote: »

Given you only need the money for 30 days, once you get it stick it in a high interest account and leave it there, make the minimum payments on the card and then a final large payment by the end of the interest free period. The interest you get on the £5000 you've put into the savings account will offset some or all of the fee. You have then effectively borrowed £5000 for nothing or as near as.

My thoughts exactly, thanks :beer:

chanz4

if its only for 28 days, why does it matter what rate the loan is, after the 28 days pay it off

bearcat16

Apply with your own bank, you will usually get an instant decision and sometimes, instant transfer.

My wife applied for a £10k loan with her bank (Halifax) on a Saturday morning. Application took about 10 minutes and the money was in her account straight away.

StopIt

A bit untraditional this but if you have a credit card with a high enough limit this would work if the other side is happy.


Offer to pay the person as a PayPal Gift payment (So avoiding fees, if you can), paid via your PayPal account but instead of the usual DirectDebit, paid by your credit card. That way you get the usual 30 days etc to pay it off on your statement and would avoid paying anything over the £5k required.