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Short Term Loan Advice
I am looking for a short term loan for 2 months from end of February until the end of April for £3000. The loan will then be paid off in full.
Should I simply use my credit card to pay or take a loan from ZOPA for 12 months and pay off in full after the 2 months.
I could cash in part of an ISA for this but do not want to lose the tax advantage of the ISA for the sake of borrowing for 2 months.
Can anyone advise which is the cheapest way to solve this ?
meanscot
Should I simply use my credit card to pay or take a loan from ZOPA for 12 months and pay off in full after the 2 months.
I could cash in part of an ISA for this but do not want to lose the tax advantage of the ISA for the sake of borrowing for 2 months.
Can anyone advise which is the cheapest way to solve this ?
meanscot
0
Comments
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If you not already registered with zopa would be worth using one of the links mentioned on some of the threads here. As the £30 the link gets you would be greater than the interest you would pay.
Not a bad deal as after the 2 months you would actually be better off than before the loan.0 -
If you only need the funds for 2 months then I would suggest an overdraft - you would only pay for the amount you are overdrawn and there would be no early settlement fees.0
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