Most of us are aware of credit card balance transfer, 0%APR availability. Most of us owe home loans at an interest rate of around 4.5% to 6.5% . Balance transfer option can be used to settle our home loans. This is an unexplored option. Note that if would be interested in home purchase in India current rates are hovering around 10% and this is a fantastic saving. However in case of USA 3.43% is the home loan rate and it is better to go for loan so that we can avail tax benefits
We can make a balance transfer for as low as 3% at the rate of 0%APR. These credit card balance transfers includes cheque, cash advances etc and hence can be made use of to settle home loans. We still save 2% (5-3 = 2%) on interest. Try this option and save good.
We can make a balance transfer for as low as 3% at the rate of 0%APR. These credit card balance transfers includes cheque, cash advances etc and hence can be made use of to settle home loans. We still save 2% (5-3 = 2%) on interest. Try this option and save good.
