Personal loans can not be interest free. Even for borrowers with top-notch credit histories, personal loans generally charge interest. Some personal lenders may have promotions from time-to-time, such as allowing the borrower to skip a month’s worth of interest after a year’s worth of on-time payments, but personal loans aren’t completely interest-free on a permanent basis.
One option for borrowers who don’t want to pay interest is to obtain a credit card with a 0% APR introductory period, which can be for as long as 21 months in some cases. If you have excellent credit and the ability to pay off the debt within the initial 0% APR period, this can be a solid option.
Are credit cards or personal loans worse for credit?
