What it can cover
- Gifts for family and friends.
- Travel to see family over Christmas.
- Gifts for a birthday or another special occasion.
Check these before you borrow
Set a gift budget
Decide on a total before you shop, and stick to it.
Plan for January
Bills, rent and school costs come straight after the holidays. Make sure the repayments still fit.
Compare buy now pay later
Check the fees, especially late fees, before you choose any way to pay.
Start saving for next year
Putting a little away each pay can cover next Christmas with no interest.
How the loan works
It’s the same loan whatever you use it for. Your offer and contract show your exact figures before you accept.
| Feature | What it means |
|---|---|
| What you can borrow | $2,050 to $4,600 in cash, in $50 steps |
| Establishment fee | $400, added to the loan, so the total stays within $5,000 |
| Length | 3 or 6 months |
| Repayments | The same amount each time, weekly, fortnightly or monthly, timed to your pay. The first is at least 7 days after the loan is paid. |
| Interest | A fixed rate, charged only on what you still owe |
| Paying early | Allowed at any time, with no early repayment fee |
| Security | None. The loan is unsecured |
| How you get the money | Paid into your own Australian bank account, if you’re approved and accept |
When this loan isn’t the right fit
- Everyday holiday spending, like groceries or bills.
- If money will already be tight in January.
- Everyday bills or living costs that keep coming back.
- Paying off other loans or debts.
- Anything for a business, investing or gambling.
- If the repayments would leave you short for essentials. Free, confidential help is available from the National Debt Helpline on 1800 007 007.
Questions
When do repayments start?
You choose your first repayment date before you sign: any day from 7 days after the loan is paid. Choosing a pay day can make repayments easier to manage.
Can I repay it early with a Christmas bonus?
Yes. You can repay early at any time, with no early repayment fee.
How much can I borrow?
$2,050 to $4,600 in cash, with the $400 establishment fee added to the loan.