Credit Union is your best option for loans with low interest rate.
How much are you looking for? Given you need a loan for about one year only, you could get a new CC with promotional 0% int. then do BT to your checking account! Unless you have some good CCs that offer good BT promotions.
@tparvaiz wrote:I am looking for about 25k.
what's BT?
Balance Transfer. My apologies!
25K should not be a problem with excellent credit, the fees and interest rate is going to be high! Your probably looking %12 + processing fees!
Now if you have couple of credit cards with decent limits, you can use balance transfer for 12 to 15 months at around 3%
Taking out a loan against any Long-term investment account would be the absolute last option I would pursue. I would in order of preference 1. Research and apply for a Home Equity Line Of Credit. 2 Research and apply for a low or no fee 0% balance transfer credit card 3, use as much savings as possible to pay down the debt, research and apply for a personal loan. 4. Reluctantly take out a loan against my long-term investment account.
I would start my research with credit unions.
@tparvaiz wrote:is there an option to take a loan against 401k or IRA? and if it is, what's the interest rates I will be looking at?
That varies from institution to institution and from plan to plan. Those types of loans have lower interest, but are reducing the value of your retirement savings.
