Carnival season is here. It is time to celebrate Christmas with full of beans. From renovating your house, arranging parties and buying presents, the holidays can come with financial pressure. Even though you have managed to stash away cash for Christmas, you may face cash shortfall. While there are various loan options, you can be baffled to choose the right option. If you need money to celebrate Christmas, the best loan option is Christmas loans in Ireland,
Christmas loans are a type of funding source that you can avail to fund any Christmas related expenses. Christmas loans are personal loans, which means you need neither collateral nor guarantor. Whether you need money for parties, decoration or presents, you can apply for these loans.
Christmas loans are notorious on the market. It is believed that online Christmas loans are very expensive and they work as a payday loan, but the opposite is the fact. Though some lenders charge very high-interest rates to trap borrowers in a predatory debt cycle, not all direct lenders are dishonest. One More Finance follows the transparent policy and makes sure that you get money on the basis of your affordability.
Christmas loans can prevent your Christmas from being spoiled. Here are the features of Christmas loans that One More Finance offers:
- Affordable APRs
One of the greatest advantages of Christmas loans is they carry lower APRs. You must remember that the APR differs from the interest rates. The latter is what you pay along with the principal and the former includes processing fees along with interest rates. Not all direct lenders charge high APRs. Some online lenders provide these loans at competitive interest rates despite your bad credit rating. The best way to avoid falling into debt is you compare interest rates. The lower the interest rate, the better it is.
- Repayments in instalments
Christmas loans do not work as payday loans though both of them are short-term loans. Payday loans require you to borrow a very small amount, not more than £1,000, and they are paid back in 14 days. You are supposed to pay off the whole of the debt in lump sum as you receive your next pay cheque. Christmas loans, on the other hand, come for a repayment period of three months.
The maximum amount you can get £2,500. You will pay off the debt in fixed monthly instalments. However, some online lenders will require you to pay off the whole debt in lump sum. Beware of such lenders. Paying back the debt in lump sum can be very difficult.
- Same day payout
You will get money the same day when you put in the loan application. Try to apply with a lender who looks over your income statement before signing off on. Since these loans are processed same day, you can consider them as quickloans, but they are different from Christmas loans. The repayment length of quick loans with same day payout is not more than a month and thence a lender does not allow you to pay off the debt in instalments.
People on benefits can also apply for Christmas loans
Everybody wants to celebrate Christmas. It is likely that you lose your job during Christmas, but you do not need to be dejected. Yet, you have a chance to enjoy your holidays. Lenders do not approve payday loans when you do not have a full-time job, but Christmas loans can be an option. A few lenders can approve your Christmas loan if you are living on benefits. If you do not have unemployed benefits, you should have a part-time job or another income source to prove your repayment capacity.
You can apply for Christmas loans anytime during the year
If you think you can apply for Christmas loans only during the festival season, you are wrong. You may need to borrow money to renovate your house or book a hall for party. In a short period, it is not possible to get it done. Therefore, a few direct lenders allow you to take out a Christmas loan at least six months before the festive season starts.
The bottom line
No loan can be better than Christmas loans to fund Christmas related expenses. You will get money at affordable interest rates with flexible instalments. If you need money, apply for Christmas loans today!