What Is The Best Way To Borrow Money?
Personal loans ideal for medium amounts
There are various means of borrowing money and the one you choose must best suit your circumstances. There are plenty of options, from personal loans to secured loans to credit card loans and overdrafts, and payday loans.
With personal loan rates decreasing in recent years, borrowing has never been simpler. Providers have been slashing their rates to make their offers the most competitive on the market. Based on a loan of £10,000 at 2.90% per annum, the total amount repayable would be £10,744.20. A personal loan is ideal if you require a medium-sized loan of between £7,000 and £14,000.
Some people turn to credit card borrowing, and this is worthwhile because if you select your card carefully, you could pay no interest at all. This is because some credit cards on the market offer 0% on purchases for a certain time frame. …