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BUSINESS
Asked by Tom

Would somebody earning £400 a week be better off with an overdraft or personal loan if they had to pay £1400 for a holiday plus any bills by the end of the month?

It depends. If the overdraft is interest free, that may be the better option (This Is very common for student accounts) You should also look at what happens if your payment is “late”. Some lenders are more lenient than others. Hope that helps 🙂

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Ismail Jeilani
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