Ways to Get Interest-Free Loans

Do you need a loan but wishing not to pay the run-up? If yes, then you come to the right article. At first, you might think that this question is insane. It might put you on alert since it seems unlikely to do so. However, you will be glad once you discover how to find money without interest. Suppose you still want to know the basic understanding of what is an interest-free loan. You can check caudetedigital.com for some useful explanation on this matter. Meanwhile, this article will help you to find and review some options to get it.

If you want to get money without interest, there are several ways you can try. However, you have to be careful not to get dragged into an even bigger financial disaster. In this case, the best recommendation to do it is not to focus on the loan. Instead, try to find the cheapest way to borrow money at any given time. You may think that borrowing money and maintaining a loan is the same thing, but that is not the case for lenders. Therefore, review some alternative ways to get an interest-free loan below to get the best and suitable one for your financial condition.

An Interest-Free Overdraft Account

An overdraft account is one of the recommended ways to get an interest-free loan of up to £1,200. One of the accounts is the 123 Santander checking account, which also offers additional benefits. Besides, you get a return of money concerning the direct debits you make. In this case, you can get the cashback for your daily needs in different ways, such as three percent on communications bills such as mobile phones, digital TV, and broadband. You can also get two percent on gas and electricity bills, including one percent on water and municipal taxes. However, you will have to pay £500 and a £2 account bill per month. Also, you should pay attention to the overdraft limit. In case you exceed it, you will get charged with huge interest.

A 0% on Purchases Credit Card

Taking out a credit card with 0% interest on new purchases can be another way to get an interest-free loan. In this case, you can opt for Halifax All in One credit card or Nationwide Select credit card available for Nationwide Flex account current holders. These two cards are the best 0% purchase credit cards. Both differ in their higher credit limit (depending on your credit rating) and the period in which you get 0% interest on new purchases (usually between 15 and 18 months). However, like an overdrafts account, these loans can only be used for a shorter period. If not, you can get charged with terrible interest. Therefore, ensure to clear your balance before the 0% offer ends. Another thing to keep in mind is that you have to pay monthly to avoid paying late penalties or losing the 0% offer.

A 0% on Balance Transfer Credit Cards

Suppose you have got a loan and are trying to pay it back. You can keep your money for interest by moving it onto a card with 0% on the balance transfers deal. The current favorable balance transfer credit card right now is Barclaycard since it has a 0% balance transfer deal for almost two years, although you have charged for 2.9% transfer fee. Also, be sure to pay off your debt before the 0% period ends to avoid paying significant interest. It’s also crucial to pay off your card every month. Otherwise, you may end up paying a large amount of money, followed by a fine.