Credit today is a very popular phenomenon. Its plus is that money for certain needs can be obtained here and now, without waiting for the required amount to accumulate. The disadvantage of the loan is that a much larger amount will have to be returned. This is due to the fact that banks charge interest for the use of funds. However, there are a number of cases when you can repay a debt without paying any interest.
Instructions
Step 1
One of the easiest ways is to withdraw money from a credit card with a grace period. As a rule, this period is 50 days. To avoid paying interest on the loan, you just need to have time to repay your debt to the bank during this period. If the payment is delayed by at least one day, the program for calculating interest on the loan will automatically turn on.
Step 2
However, you will have to make an additional payment. This will be the commission for cash withdrawals. Perhaps this payment will not be the only one. After all, the bank charges a certain amount for each cash withdrawal from the account.
Step 3
The second option is to repay the loan ahead of schedule. Borrowed money can be any - both from a credit card and other types of loans (consumer, for urgent needs, etc.). In order not to pay interest, you need to return the entire amount taken from the bank during the first month of the loan agreement.
Step 4
With this method of repaying the loan, you will also have to pay interest in a lump sum. They are charged for the first month of using the loan. It is unprofitable for banks that you return the money ahead of schedule. Therefore, a year ago, the loan was allowed to be repaid ahead of schedule only after 3-6 months from the date the funds were issued to the consumer. So the bank managed to get a certain profit. Today this rule is no longer valid - the new norms are enshrined in law.
Step 5
There is one more way to pay off the loan without paying interest. It is used by some folk craftsmen. You will need two credit cards at once, one of which will be with a grace period of service. From the first - the usual one - the necessary funds are taken. By the end of the first month of using them, the required amount is withdrawn from the second card to repay the first loan. So, the loan has been paid, the interest “does not drip”. The debt on the second card is repaid during the grace period.
Step 6
However, it is better not to use this method of paying the loan. Indeed, often actions of this nature are legally defined as "fraud". And this, in turn, can lead to very serious consequences.
