Interest in Advance Personal Loan

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p0sitiveCasHfl0w
Member
@p0sitivecashfl0w
Join Date: 2003
Post Count: 133
February 14, 2004 - 11:24 am
Hi
Are there financial institutions offering personal loans with the option of paying the interest in advance??
Cheers,
Jay
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Keymaster
@piadmin
Join Date: 2013
Post Count: 3,225
February 14, 2004 - 2:34 pm
I would think that they all would love you Jay.
Pisces
Indifference
Member
@indifference
Join Date: 2004
Post Count: 24
February 14, 2004 - 2:54 pm
Yes… they are the same institutions that will let you pay twice the interest if you feel the need.
Actually, let me loan you some money… [:p]
…emotion clouds good judgement but is a defining element of character.
Mobile Mortgage
Member
@mobile-mortgage
Join Date: 2003
Post Count: 913
February 14, 2004 - 4:05 pm
Hi Jay
At times there may be benefits in paying interest in advance,
E.g.: To minimize tax and maximize cash flow over a certain period, (speak to an accountant for specific details and advice)
However, if the loan is regulated (funds for personal use, not for investment purpose, under the UCCC) the interest on this loan MAY not be tax affective,check this with an Accountant,
Regards
Steven
Mobile Mortgage
[email protected]
http://www.mobilemortgagemarket.com.au
Ph:1800 820 500
Victoria
PLEASE note comments made should NOT be taken as specific taxation, financial, legal or investment advice. Please seek professional, specific advice.