15 Nov Not Enough Christmas Budget? Consider Securing a Holiday Loan!
The holiday rush is almost here and all of the great deals seem to sell out fast—what if you don’t have enough money to complete your Christmas shopping list?
ou probably promised yourself earlier this year that you would start saving in time for the holiday season. Perhaps you did and you fell short, so now you start looking for ways to finance your Christmas shopping. A holiday loan could help ease that burden for you.
So how and where to start?
What is a holiday loan
Holiday loans are usually unsecured personal loans or short-term loans. You can use these to fund any holiday-related expenses such as gift shopping. Lenders who offer this type of loan may require different eligibility criteria so seek the help of a professional mortgage broker to guide you in comparing the available loan products in the market.
Details to consider when securing a holiday loan
- Interest rates – make sure you land on a competitive interest rate that is going to work well with your financial situation. You can opt for a variable or fixed rate.
- Repayment options – You have the choice of paying weekly, fortnightly, or monthly depending on your capability. Tip: look for a loan that offers extra repayments facility so that you can put any additional cash towards paying off your loan faster if you’re able to.
- Processing time
- Loan amount and term
How to apply
It’s important to do your research first and see if securing a holiday or personal loan suits your current situation. A professional mortgage broker can advise you on which loan option to grab to make sure it will work for you. Prepare documents such as proof of your identity (Passport, driver’s license, and or Medicare card), proof of income, and other financial details. Your mortgage broker will do the legwork for you so you won’t have to.
Holiday loans, such as personal loans and short-term loans, could bridge the gap between your savings and your Christmas shopping budget. Seek the help of a professional mortgage broker in your area to make sure you secure the most efficient loan option for your financial situation.
Credit Representative Number 486927 is authorised under Australian Credit Licence 389328.
This article provides general information only and has been prepared without taking into account your objectives, financial situation or needs. We recommend that you consider whether it is appropriate for your circumstances and your full financial situation will need to be reviewed prior to acceptance of any offer or product. It does not constitute legal, tax or financial advice and you should always seek professional advice in relation to your individual circumstances. Subject to lenders terms and conditions, fees and charges and eligibility criteria apply.