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Personal Loan is perhaps a man’s best friend in today’s world. ‘Personal loan’ as the name suggests can be for any personal reason. Such reasons vary from person to person for instance a husband willing to give a brand new car to his wife on their silver marriage anniversary, a father thinking of investing and setting up his son’s business etc. thus personal loan can provide you instantly with the required investment without any body’s help.

A recent study of Ohio consumers indicates that they are shopping around and using low interest credit cards to minimize payments. According to Lucia Dunn, co-author of the study and professor economics at Ohio State University, "people with large balances are playing the game. They have the most incentive to find cards with the lowest rates, (which is) what they are doing."

The main advantage to an interest only mortgage is initially seen in the payments you make to your lender. The fact that you will only be repaying your interest here means that your monthly payments will be much lower than they would be for a repayment product.

At the same time, banks have become more competitive and are aggressively seeking new credit card customers by offering low interest introductory rates – sometimes even 0 percent APR balance transfer credit card offer as their best credit card rate.

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Last Updated: 2005.02.08.
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