Just did a quick calculation on Sorted to figure out whether it’s worth transferring BF’s loan balance over to Kiwibank’s 4.99% card.
It would only shave one month off the repayment (1 year 3 months instead of 1 year 4 months) but it would save around $200 in interest.
Worth it?
Maybe we should just apply anyway, see if he qualifies…
UPDATE: The introductory rate is only good for 6months, so nix on the balance transfer…might look at BT rates later in the year, but I assume by then the savings will be negligible.
