Borrowing money without interest is possible if you have close family and friends who are millionaires and business owners.It is easy to borrow money from your relatives who are close to you rather than negotiating the high interest from the banks.
If you credit report is bad then you might ended up getting a personal loan with the highest possible rates available.But maintaining a good credit score will surely help reduce your credit rate interest in terms of borrowing money.
Just like going to a payday loan,instead of helping you to pay whatever your needs for that money,you will ended up paying double of what really cost you to spend.It is difficult when you are not associated to anyone who has money in their pockets that are ready to spend.
The best way to borrow money without interest is to pay it back right away as you can.Interest will build up if your loan takes longer to pay it off.The shorter your loan the cheapest you will pay the interest rate.But it does not really matter for someone with bad credit because credit card companies are charging high to the individuals who needs help financially.
It is good that Federal Government is looking to these credit cards who are taking advantage from consumers who are struggling to stay on track financially.
Paying interest is not bad if you use the money for something that you can earn in return like paying your home or paying your student loan.But if you borrow money for vacation or for gambling that might be too risky to do.
I will only borrow if I need to pay off some very important matter not necessarily about for leisure activities.The more money you have in your bank account the less chances you will borrow money so if you can try to save some money and try not to borrow.
Maintaining your good credit and having save some money will gives confidence for the lenders to trust you in borrowing their money and not charging you the highest rate.
Just like at one time,I borrowed in payday loan for just five days and then I have to pay almost half of what I borrowed.So if I did not pay it off right away,I could have been paying more than what I borrowed from this payday loan company.
But you can still find financing or loan without interest in eBay auction site.When you try to look for a Real Estate then you can find a zero percent interest rate in some of the properties offered.
I will buy land or houses without or little down payment if the interest is reasonable.But you have to calculate also of how long you are going to pay and how much in paying your loan without interest.
You might not paying the interest but then the price of the property is too high and the years that you are going to do the financing is long.If you are going to compute the total will most likely equal to an amount with same interest that you will paying it anyway.
Always know the terms before doing the financing option in any property or borrowing money.