RetireJapan

Dear all

I anticipate needing 20 to 30 thousand USD over the next 2 to 3 years. I have ample balance in Japanese yen but exchanging these for USD may not be a good idea at the current FX rate and my USD fund can not be liquidated now. Is there a frugal way to borrow USD? I know of SMBC Prestia where they will charge me more than I want to pay in interest cost to borrow USD by depositing yen. I am a non-US person. Would love to know if there is a Japan based way to do this.

Regards

R

Unsecured cash loans tend to have high interest rates (>10%) so I can't imagine any scenario where USD could be borrowed inexpensively. Heck, even heavily subsidized student loans in the US have an interest rate usually around 3%. Have you considered getting a flexible part-time online job that pays in USD? I mean, maybe put in 10-20 hours per week and make $1k - $2k per month to meet your ongoing USD needs. I've never done that so not sure how feasible that would be in your situation but there are entire reddit groups dedicated to this topic. If that is an option you want to explore then you can check https://www.reddit.com/r/WorkOnline/

Dear Teflon,

Instead of unsecured cash loan, I am looking for USD overdraft secured by JPY deposit.