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 May 24th, 2018
Name Product Max. Loan Amount Term of Loan Turnaround Time Costs Fortnightly Repayment $1,500 Product Description
Sunshine Short Term Loans
9-15 weeks
30 Minutes - conditions apply
20% of loan amount + 4% of loan amount each month
Apply online with Sunshine Loans and you could borrow up to $2,000 paid directly into your account. Note: Centrelink must not be your primary source of income.
Nimble Short Term Loan
62 days to 1 year
1 hour - conditions apply*
20% of loan amount + 4% of loan amount each month
Apply for up to $2,000 and have 62 days to 1 year to repay. Note: Centrelink must not be your primary source of income.
Ferratum Cash Loans
up to 6 months
Same Day if approved
20% of borrowed amount + 4% of borrowed amount each month
Ferratum lets you apply for up to $1,900 without a credit check.
Wallet Wizard Smart Loan (Up to 2K)
Up to 2 years
24 hours
47.8% APR
Apply for up to $2,000 as a convenient line of credit.
Fair Go Finance Small Loan
3-12 months
Within 24 hours
Establishment fee from 12% of loan amount + monthly fee from 2%
Apply for a loan from $500 and receive your approved funds in 30 minutes.

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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 May 24th, 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
HSBC Personal Loan
From 9.5% (fixed)
1 to 5 years
A competitive fixed interest rate loan with the option to make extra repayments. Rates range from 9.5% p.a. to 15.99% p.a. based on your credit history.
SocietyOne Unsecured Personal Loan
From 7.5% (fixed)
2 to 5 years
3% (of loan amount)
Based on your risk profile, you will receive a tailored rate between 7.5% and 20.49% with a SocietyOne personal loan.
Citi Personal Loan Plus
From 8.99% (variable)
3 to 5 years
Borrow up to $75,000 to use for a range of purposes. You’ll receive a rate of between 8.99% p.a. and 17.99% p.a. depending on your risk profile. (Comparison Rate of 9.96% p.a. to 18.91% p.a..)
Harmoney Unsecured Personal Loan
From 6.99% (fixed)
3 to 5 years
$500 (Upfront fee)
Interest rates are tailored to each applicant individually, and start from as low as 6.99% p.a. to 26.95% p.a.. based on your credit history.
Latitude Personal Loan (Unsecured)
From 13.99% (fixed)
2 to 7 years
$250 (Loans under $4000 - $140)
An unsecured loan with a tailored rate from 13.99% p.a. to 29.99% p.a. designed for multiple purposes including renovating, buying a car or travelling.
Westpac Unsecured Personal Loan
12.99% (fixed)
1 to 7 years
$250 (No establishment fee for a new Unsecured Personal Loan before 14 June 2018)
A competitive, fixed rate personal loan that allows you to make extra repayments. Apply before 14 June 2018 and pay $0 establishment fee.
ANZ Fixed Rate Personal Loan
10.99% (fixed)
1 to 7 years
Apply for up to $50,000 to use however you choose and benefit from a competitive fixed rate.
MyState Unsecured Personal Loan
12.99% (variable)
1 to 7 years
Apply for up to $50,000 and make additional repayments at any time without penalty.
Heritage Bank Standard Personal Loan
12.99% (fixed)
1 to 5 years
A flexible personal loan where you can choose a fixed or variable rate and make extra repayments at any time.
St.George Unsecured Personal Loan - Fixed Rate
From 12.99% (fixed)
1 to 5 years
Convenient redraw facility and flexible personal loan repayment options with a competitive interest rate between 12.99% p.a. and 19.99% p.a.. If you borrow more than $10,000 to buy a new or used car, you'll receive a $200 fuel card. Note: Must apply before 28 June 2018.

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 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


  • 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.


  • 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*
SocietyOne Unsecured Personal Loan

Based on your risk profile, you will receive a tailored rate between 7.5% and 20.49% with a SocietyOne personal loan.

Westpac Unsecured Personal Loan

A competitive, fixed rate personal loan that allows you to make extra repayments. Apply before 14 June 2018 and pay $0 establishment fee.

Harmoney Unsecured Personal Loan

Interest rates are tailored to each applicant individually, and start from as low as 6.99% p.a. to 26.95% p.a.. based on your credit history.

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