Can I Transfer A Personal Loan To A Zero % Card?

[kaw69]

Hi I have a £10,000 five year loan @ 7%
I have paid two years off it
I have seen adverts to transfer to a zero card with no fees
Can I transfer, keep the payments I would have made in my Santander 123 account where I get 3% interest and pay it off in full at the end.
The only snag is the loan, zero card and 123 account are all with Santander will they let me lose them money
TIA

[Baldric]

Have you asked them?

[boxtops]

Yup, you need to ask them. I suspect there will be small print saying that you need to transfer it from another provider to get the zero %. However, there are plenty of other zero credit cards on offer at the moment - but you do need to be wary, those offers are often only for 6 months or so, then you go back to the standard borrowing rate for that card. There are loans about at less than 7% at the moment - look at consolidating or switching to another borrower to pay off the loan.

[bednobs]

you can't usually transfer to the same provider,

[Postdog]

I saw something yesterdaythat only one card will let you do this. Cant remember which one sorry.

[Peter Pedant]

Yeah or no
I am with Santabder and they are crap
you may well get a better deal elsewhere

and will Santander allow you to run up useless fees for useless advice
and say they dont know when they do ? or conceal the best deal as it doesnt fie them smackeroonie fees ?

yup - they will do all that no probz

I used to have a mortgage with them ....

[Postdog]

Regarding my answer, I think it was something to do with martin lewis so it might be an idea to check his site.

[dzug2]

Don't these 0% cards still require you to make minimum monthly payments?

[-Talbot-]

If you can it is news to me.

Most loans nowadays carry a penalty for paying them off early.

[puzzlemaniac]

don't think you'll be allowed to transfer from a Santander Loan to a Santander Card, but as others have said, there are plenty alternatives.

If you're thinking about transferring to one of the 0% cards you need to keep in mind that the 0% will probably not last beyond 6m to 1 yr; you will need to make the minimum payment each month; there may be a transfer fee by the new card provider. Various websites offer comparisons between the different card deals.

Your Santander Loan may also have a penalty clause for early repayment, which will be in the Ts & Cs or call them to ask.

[kaw69]

Thanks to all
I didn`t think it was as easy as I thought