Christmas loan

Personal Loans for Christmas

Need some extra money to get through the holidays? Find affordable personal loans to cover your holiday expenses.

It's often said that Christmas feels like it comes earlier and earlier every year, and much of this has to do with the financial strain the holiday causes. If you're looking to spread your Christmas expenses over an extended period, or you want to consolidate some debt that's leftover after New Year's, this guide will help you sort through your options.

What options do I have for a Christmas loan?

There are a few options available for Christmas spending. The right option for you will depend on your income, whether you have good or bad credit, whether you're looking to consolidate your Christmas debt or applying for the loan for spending and how much you want to apply for.

Here's a quick breakdown of some of your options:

  • Short term loans. If you need a small loan of less than $2,000 and can repay it in a few months, you can consider a short-term cash loan. These loans, also called payday loans, are a common choice for people with bad credit. Compare your payday loan options above.
  • Unsecured personal loan. If you have good credit and are looking for a larger loan, you can consider a personal loan – no security required. Borrow $3,000 and above and have between one and seven years to repay it. Jump ahead and compare unsecured personal loans.
  • Line of credit. If you're unsure how much you'll need over the Christmas period you may want to consider a line of credit. These loans give you a credit limit that you can draw on. You repay only as much as you use, and once you repay what you owe you can use the funds again.

How can you get a loan for Christmas?

Applying for a loan for the holiday season is quick and easy.

  1. Find a lender by comparing your options on the table below. Look at the costs of the loan, how quickly you'll receive it and if you'll be eligible.
  2. Click through to the lender's site and confirm the loan details and your eligibility. Just click "Go to Site".
  3. Apply directly on the lender's site. All you need are personal, employment/Centrelink, financial and banking information.

Sunshine Short Term Offer

Sunshine Short Term Offer

  • Bad credit applicants considered
  • Fast approval service
  • Borrow up to $2,000
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100% confidential application

Sunshine Short Term Offer

A short term loan with a fast and easy application available to those with good or bad credit. You can apply today and get approved for up to $2,000.

  • Loan amount: $2,000
  • Loan term: 9-15 weeks
  • Turnaround time: 30 minutes (conditions apply)
  • Fees: 20% of borrowed amount + 4% of borrowed amount each month
  • Income requirement: 50%+ of income cannot be from Centrelink
  • Bad credit borrowers OK
  • Quick and easy Approval
  • No Credit Checks
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Short term loans for Christmas spending

If you need short-term cash, you can compare your payday loan options below.

Rates last updated October 22nd, 2018
Name Product Max. Loan Amount Term of Loan Turnaround Time Costs Fortnightly Repayment $1,500 Product Description
Sunshine Short Term Loans
$2,000
9-15 weeks
30 minutes - conditions apply
20% of loan amount + 4% of loan amount each month
$396
A small loan up to $2,000 that you repay over 9-15 weeks. Loans approved and funded in as little as 30 minutes. Centrelink must not be your primary income
Wallet Wizard Smart Loan (Up to 2K)
$2,000
Up to 2 years
3 hours - conditions apply
47.8%
$316.70
Apply for up to $2,000 and be able to access your approved loan as a convenient line of credit.
Nimble Short Term Loan
$2,000
62 days to 1 year
1 hour - conditions apply
20% of loan amount + 4% of loan amount each month
$396
A loan up to $2,000 with terms up to 62 days to 1 year. Centrelink cannot be your primary source of income.
Credit24 Short Term Loan
$2,000
6-12 months
Same day - conditions apply
20% of loan amount establishment fee + 4% of loan amount monthly.
$396
Credit24 offers this loan up to $2,000 and gives you 12 months to repay.
Fair Go Finance Small Loan
$2,000
3-12 months
1 business day
Establishment fee from 10% of loan amount + monthly fee from 2%
$354
A small loan between $500 and $2,000 that can be funded in 24 hours.
Ferratum Cash Loans
$1,900
up to 6 months
Same day - conditions apply
20% of borrowed amount + 4% of borrowed amount each month
$396
Borrow what you need with loans starting from $300 and approval in minutes.
Capfin Short Term Loan
$2,000
6 to 12 months
Overnight
20% of loan amount + 4% of loan amount each month
$396
A short-term loan from $500 that you can have up to 12 months to repay. All credit histories considered.

Compare up to 4 providers

How do these loans work?

A Christmas loan provides you with much-needed funds to help you get through the holiday period or helps you consolidate your debt after Christmas. As with any loan, you have to repay the loan amount along with any interest and fees it attracts within a given time period. Typical Christmas loans are unsecured so you don't have to worry about providing collateral.

You can use proceeds from such a loan for all Christmas-related expenses, from buying presents or decorating your home to simply buying products you've wanted to for a while. A good way to establish how much you should borrow is to work on a budget ahead of time and take into account that repayment periods of such loans tend to vary in between one and five years.

Family on Christmas

Unsecured loans to see you through the holiday period

An unsecured loan could be used to fund your Christmas spending. Provided you meet the requirements set out by the lending institution you could borrow a larger amount of money for your gifts or family holiday.

Rates last updated October 22nd, 2018
$
Name Product Interest Rate (p.a.) Comparison Rate (p.a.) Min Loan Amount Loan Term Monthly Service Fee Application Fee Product Description Monthly Repayment
RateSetter 3-Years Personal Loan
From 8.69% (fixed)
11.24%
$2,001
0.5 to 5 years
$0
$220
You'll receive a fixed rate from 8.69% p.a. based on your risk profile
A flexible loan with amounts from $2,001 and terms starting from 6 months. Interest and comparison rates calculated for a loan term of 3 years.
Citi Personal Loan Plus
From 8.99% (variable)
9.96%
$5,000
3 to 5 years
$10
$199
You'll receive a variable rate between 8.99% p.a. and 17.99% p.a. (9.96% p.a. to 18.91% p.a. comparison rate) based on your risk profile
A credit limit up to $75,000 that you can continue to draw down over terms up to 5 years.
Harmoney Unsecured Personal Loan
From 6.99% (fixed)
7.69%
$5,000
3 to 5 years
$0
$500 (Upfront fee)
You'll receive a fixed rate between 6.99% p.a. and 26.95% p.a. based on your risk profile.
Apply for a loan up to $70,000 and repay your loan over 3 or 5 years terms.
SocietyOne Unsecured Personal Loan
From 7.5% (fixed)
9.51%
$5,000
2 to 5 years
$0
3% (of loan amount)
You'll receive a fixed rate between 7.5% p.a. and 19.99% p.a. based on your risk profile
A loan from $5,000 to use for a range of purposes. Benefit from no ongoing fees and no early repayment fee.
HSBC Personal Loan
From 9.5% (fixed)
10.06%
$5,000
1 to 5 years
$5
$150
You'll receive a fixed rate between 9.5% p.a. and 15.99% p.a. based on your risk profile
An unsecured personal loan with a tailored, fixed rate where you can make additional and early repayments without penalty.
ANZ Fixed Rate Personal Loan
12.45% (fixed)
13.32%
$5,000
1 to 7 years
$10
$150
You'll receive a fixed rate of 12.45% p.a.
Apply for up to $50,000 to use for a variety of purposes without needing to add security. Available to self-employed applicants.
Latitude Personal Loan (Unsecured)
From 13.99% (fixed)
15.19%
$3,000
2 to 7 years
$13
$250 (Loans under $4000 - $140)
You'll receive a fixed rate between 13.99% p.a. and 29.99% p.a. based on your risk profile
Apply for what you need from $3,000 and use it for a range of purposes. Flexible repayments options.
ANZ Variable Rate Personal Loan
15.99% (variable)
16.84%
$5,000
1 to 7 years
$10
$150
You'll receive a variable rate of 15.99% p.a.
A flexible loan with amounts starting $5,000 that offers flexible repayments and a redraw facility.
Westpac Unsecured Personal Loan
12.99% (fixed)
14.14%
$4,000
1 to 7 years
$12
$250
You'll receive a fixed rate of 12.99% p.a.
Benefit from the security of a fixed rate with the flexibility of additional repayments. Existing Westpac customers may qualify for discounts.
Latitude Low Rate Personal Loan (Unsecured)
10.99% (fixed)
12.21%
$20,000
2 to 7 years
$13
$250
You'll receive a fixed rate of 10.99% p.a.
A secured or unsecured loan available to homeowners with a large minimum borrowing amount of $20,000. Benefit from flexible repayments and fast approval.
Pepper Money Unsecured Fixed Rate Personal Loan
From 9.99% (fixed)
9.99%
$5,000
1 to 7 years
$0
$0
You'll receive a fixed rate between 9.99% p.a. and 27.99% p.a. based on your risk profile
A loan from $5,000 to use for a range of purposes. Benefit from no monthly or application fees.
NOW FINANCE Personal Loans
From 8.95% (fixed)
10.56%
$5,000
1.5 to 7 years
$13
$495 (Based on $10,000)
You'll receive a fixed rate between 8.95% p.a. and 16.95% p.a. based on your risk profile
Apply for loans from $5,000 and get a dedicated loan manager. No security required. Note: Get your loan approved and settled before 31 October 2018 and receive a $200 Coles gift card.
St.George Unsecured Personal Loan - Fixed Rate
From 12.99% (fixed)
14.06%
$2,000
1 to 5 years
$12
$195
You'll receive a fixed rate between 12.99% p.a. and 19.99% p.a. based on your risk profile
A low minimum borrowing amount of $2,000 to fund a range of purposes.
Australian Military Bank Variable Rate Personal Loan
From 7.88% (variable)
8.72%
$1,000
1 to 7 years
$10
from $100 to $500
You'll receive a variable rate between 7.88% p.a. and 18.82% p.a. based on your risk profile
An unsecured loan with flexible repayment options and a low minimum borrowing amount.
Australian Military Bank Fixed Rate Personal Loan
From 7.93% (fixed)
8.77%
$1,000
1 to 5 years
$10
from $100 to $500
You'll receive a fixed rate between 7.93% p.a. and 18.87% p.a. based on your risk profile
An unsecured loan with a low minimum borrowing amount and flexible repayment options.
RACQ Bank Unsecured Personal Loan
12.95% (variable)
13.25%
$3,000
5 years
$0
$200
You'll receive a variable rate of 12.95% p.a.
A low minimum borrowing amount of $3,000 that you can use for a range of purposes. Benefit from member discounts and flexible repayments. Only available to QLD residents

Compare up to 4 providers

What features should you look for in a Christmas loan?

Making sure you compare loans for the holiday season is an important task. You should make sure you know the rates, fees and repayment information before applying and also consider the information below:

  • Does it offer repayment flexibility? Lenders usually line up your repayments according to when you get paid and some allow you to make extra repayments without charging any penalty. You also might be able to pay off the entire loan ahead of time without paying a penalty – check all of this before you apply.
  • When will you receive the loan? Given that almost all lenders rely on technology to verify your personal and financial details, you can expect a reply to your Christmas loan application in less than 24 hours. Funds are distributed soon after.
  • Remember to compare interest rates and fees. If you are applying for a payday loan less than $2,000, you will not pay more than 24% in fees. If you apply for a larger loan you will pay more. Make sure to compare lenders as you might find a more competitive offering.

Have bad credit? You might still have options available

Bad credit follows you around no matter what time of year it is, but there is a way to access credit at Christmas time no matter what the state of your credit file. Here are some options to consider this Christmas season if you're in need of a loan and your credit history is less than perfect.

  • No credit check loans. These loans, commonly referred to as no credit check payday loans, require no credit check in order for approval. The way they normally work is you have to submit three months of banks statements to show your incoming and outgoing money and also provide evidence of your income.
  • Short term loans. While most payday lenders still do credit checks, some still accept applications from those with bad credit. Lenders, such as those in the table above, consider your application based on your current financial position.

Tips to keep your Christmas costs down

If each Christmas is getting more expensive than the last, it's time to take back control of your holiday budget. Here are some tips to spend less next year:

  • Pay down your debts before the holidays. A lot of stress comes from debts piling up, so getting on top of your existing debt well before the holidays can help ease this. Pay off your credit card debt and make extra repayments on your loan so you can redraw (although, consider fees if applicable).
  • Consider a 0% purchase credit card. These cards let you spend interest-free for a certain period of time, helping you to keep costs down during the holiday period. Compare your options here.
  • Utilise your rewards. If you are part of a rewards scheme, Christmas could be the time to spend your hard-earned rewards points on shopping items. If you're looking for ways to earn rewards there are various credit cards that come with rewards programs, letting you earn points for every dollar you spend.
  • Not only have a budget, but have a plan. If you organise the presents you're going to get beforehand you'll limit the chance of overspending. You'll also be able to find out where to buy it the cheapest.
  • Shop online and save. You can save time and money by shopping online thanks to coupon codes, which you can get here at finder.com.au. Along with shopping guides for everyone in your life.
  • Have a repayment plan. If you do overspend, know how you're going to pay it back. Choose your debt consolidation method – whether it be personal loans, credit card balance transfers or both – and then make payments within a specific timeframe to get out of debt as soon as is affordable to you.

What you might consider before taking out a Christmas loan

Pros

  • Get access to money when you need it the most. If you're running short of money to deal with Christmas expenses but know you'll come into some funds soon, a loan can help. Getting a Christmas loan gives you access to money when you need it so you can carry on with your holiday plans.
  • Fixed fees. You'll know what you have to pay when you apply for the loan as many short-term lenders come with fixed fees and rates. You'll receive a detailed repayment schedule and payment dates, and your repayment will usually be direct debited from your account on the due date.

Cons

  • Getting into debt. If you're not sure how you'll go about repaying the money you borrow, you could get into debt. Make sure you know exactly how you're going to repay the borrowed amount before you sign on the dotted line.
  • Falling behind on other commitments. If you are borrowing money to get through Christmas, it is important not to fall behind on other repayments during this season.

Is there anything to avoid with Christmas loans?

  • High interest. Make sure you compare interest rates between competing loans. It makes sense to avoid loans with high interest rates, but you might not this luxury if you suffer from a poor credit history.
  • Hidden fees. An easy way to avoid paying hidden fees is to go through the entire loan documentation carefully before accepting its terms and conditions. The law requires lenders in Australia to inform borrowers of all associated fees and charges, so by going through the related paperwork you will know exactly what to expect.

Christmas is a joyous occasion for friends and family. Ensure you can afford the repayments on any loans you take out by comparing your options using the comparison tables above. Alternatively, you could consider cutting down your expenditure – we've curated a guide of the best gifts you can buy for under $20 here.

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Personal Loan Offers

Important Information*
HSBC Personal Loan

You'll receive a fixed rate between 9.5% p.a. and 15.99% p.a. based on your risk profile
An unsecured personal loan with a tailored, fixed rate where you can make additional and early repayments without penalty.

Citi Personal Loan Plus

You'll receive a variable rate between 8.99% p.a. and 17.99% p.a. (9.96% p.a. to 18.91% p.a. comparison rate) based on your risk profile
A credit limit up to $75,000 that you can continue to draw down over terms up to 5 years.

SocietyOne Unsecured Personal Loan

You'll receive a fixed rate between 7.5% p.a. and 19.99% p.a. based on your risk profile
A loan from $5,000 to use for a range of purposes. Benefit from no ongoing fees and no early repayment fee.

Latitude Personal Loan (Unsecured)

You'll receive a fixed rate between 13.99% p.a. and 29.99% p.a. based on your risk profile
Apply for what you need from $3,000 and use it for a range of purposes. Flexible repayments options.

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