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Borrow interest free to invest?

  • 11-03-2008 11:27pm
    #1
    PaddyofNine
    Registered Users, Registered Users 2 Posts: 348 ✭✭


    I'm a student in my second last year. The bank offers us interest free loans of up to €25,000 without a guarantor - we start paying interest the day we graduate, in a little over fourteen months. I've been considering taking out ten thousand or so on one of these loans and investing it for a year for some cash for the inevitable post graduation holiday. Whaddya think? I've been looking at some of the Rabo Direct Managed Funds - think I'll veer clear of investing in the stock market, tempting even as though it is...


Comments

  • #2
    portomar
    Closed Accounts Posts: 507 ✭✭✭portomar


    PaddyofNine wrote: »
    I'm a student in my second last year. The bank offers us interest free loans of up to €25,000 without a guarantor - we start paying interest the day we graduate, in a little over fourteen months. I've been considering taking out ten thousand or so on one of these loans and investing it for a year for some cash for the inevitable post graduation holiday. Whaddya think? I've been looking at some of the Rabo Direct Managed Funds - think I'll veer clear of investing in the stock market, tempting even as though it is...

    and you think having some guy working for rabo will help you stay away from stock market turbulence? never borrow to invest


  • #3
    aoa321
    Closed Accounts Posts: 397 ✭✭aoa321


    If you realy want to why not borrow €10,000 invest it in a high rate deposit investment account (you might be able to get 4.5% to 5%) after you pay DIRT you end up with €300 to buy yourself a few drinks on graduation night - to me it's a bit of hassle to go to to get your hands on €300, but that's me - other people might see it as a good opportunity .

    Did somebody in the bank not htink of this? where's the benefit for them?


  • #4
    Thomas_S_Hunterson
    Closed Accounts Posts: 6,151 ✭✭✭Thomas_S_Hunterson


    aoa321 wrote: »
    Did somebody in the bank not htink of this? where's the benefit for them?

    Very few people change their bank during their lifetime, so it's in the banks interest to rope people in while they're young.


  • #5
    snubbleste
    Banned (with Prison Access) Posts: 31,117 ✭✭✭✭snubbleste


    Which bank(s) is offering up to €25,000 interest-free without a guarantor?

    I'm with AIB and they won't extend my overdraft without a guarantor, never mind a loan!
    Only aware of BoI doing a €2k travel loan, interest-free for nine months.


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