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Loans

MonkeyWrench · 2006-05-05 11:07:22

Just a question on Bank loans... When taking out a loan from a bank, do they generally want the customer to begin the payments for the loan straight away? or is it possible to defer the start date of payment which i presume will incur some sort of higher APR etc?

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05-05-2006 12:07pm

#1

MonkeyWrench

Registered Users Posts: 385 ✭✭

Join Date: January 2005

Posts: 304

Just a question on Bank loans...

When taking out a loan from a bank, do they generally want the customer to begin the payments for the loan straight away? or is it possible to defer the start date of payment which i presume will incur some sort of higher APR etc?

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#2 05-05-2006 12:12pm
kluivert

Registered Users Posts: 2,399 ✭✭✭

Join Date: June 2005

Posts: 2176

It is possible to agreed the repayment dates with the bank. As in defer the first payment.

It is also possble to organise repayments every year over a 10, 11 or 12 month period.

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#3 05-05-2006 8:06pm
Borzoi

Registered Users Posts: 2,876 ✭✭✭

Join Date: September 2001

Posts: 2745

MonkeyWrench wrote:

Just a question on Bank loans...

When taking out a loan from a bank, do they generally want the customer to begin the payments for the loan straight away? or is it possible to defer the start date of payment which i presume will incur some sort of higher APR etc?

Or alternatively, borrow more than you need, and use the excess to pay the first/second payment. Oh, and say nothing;)

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