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re: Banks getting desperate for returns on cash?

Posted on 3/28/13 at 11:40 pm to
Posted by matthew25
Member since Jun 2012
9425 posts
Posted on 3/28/13 at 11:40 pm to
Bankcorp South announced today on TV they have an extra $500,000,000 to lend.

I understand Regions did something similar a few days ago in B'ham.
Posted by the LSUSaint
Member since Nov 2009
15444 posts
Posted on 3/29/13 at 8:20 am to
quote:

$5,000 +
quote:

3% Transfer fee
@ 1.9% for 24 Months= $5,271.56 Roughly $270 in fee and interest

So transferring the entire loan would save about $480 over 2 years



Why wouldn't you just write yourself a check @1.9% annually and when the money is deposited, pay it towards the student loan?

Can you do this? Basically buypass the transfer fees by just taking the loan first then distributing from your own account?

Posted by the LSUSaint
Member since Nov 2009
15444 posts
Posted on 3/29/13 at 8:22 am to
quote:

The transfer fee is capped at 75$


Well that helps with my last question. I was puzzled about having to pay a 3% "transfer fee"
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