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Very short term loan

  • 14-07-2015 12:14pm
    #1
    the_sonandmoon
    Registered Users, Registered Users 2 Posts: 409 ✭✭


    Hi folks,

    We are getting some work done on the house and we know we will be running a little tight by the end of it. We would like to be able to borrow about 5k, to bring us over the line. We have been saving about 3k per month to finance the works, and would like to continue putting this aside, and to pay back the loan asap. Is there such thing as a <12 month loan? Or would we be better off just paying less for 12 months (i.e. ~€500/month)?

    Purely because we have no need for one, we have no credit cards - would it be worth looking into getting a credit card with, for example, 0% interest for the first 3 months. If we paid it off within those 3 months, could we simply cut up the card, and have no other fees associated with owning the card, or do you have to keep the card, and consequently pay any fees, for a certain amount of time, after the 0% period has finished?


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