There are three types of people when it comes to Christmas shopping: the shopper who had it all sorted in October, the one who paces themselves and the shopper who’s just realised that Christmas is just under two weeks away.
And if you’ve just felt your stomach drop, there’s a good chance you’re the last type of shopper. But before you enter a realm of panic and break out your credit card to pay for it all, we may have another solution.
An alternative to putting it on your plastic is to take out a personal loan. While it’s a little different than a credit card, personal loans often come with lower interest rates and a set repayment schedule, which could be a better option for shoppers who tend to carry a balance on their credit cards.
So if you think a personal loan could be the right pick for you, check out these five personal loan offers below.
HSBC Unsecured Personal Loan
Fixed rates from 8.50% (9.06% comparison rate^^)
Fast funding available
No exit fees
If you need to get started on your Christmas shopping ASAP and need cash fast, then you should give the HSBC Unsecured Personal Loan a look. Credible borrowers may receive the 8.50% fixed rate (9.06% comparison rate^^) that you can easily work into your monthly budget. You’ll also have the option to make extra repayments and pay no exit fees. There’s also a speedy application process - it takes just 10 minutes to apply and you’ll receive a response in 60 seconds!
MyState Bank General Purpose Personal Loan
Variable rates from 12.99% (16.42% comparison rate^)
Fast funding available
Free extra repayments and redraw
With the MyState General Purpose Personal Loan, flexibility and fast funding go hand in hand. This loan gives borrowers the chance to receive a personalised interest rate, with variable rates for credible borrowers starting from 12.99% (16.42% comparison rate^). There’s also the option to make additional repayments on your loan with no penalty and to redraw these repayments for free! And once you complete your application and are approved, you’ll have the funds transferred to your account within one business day.
But if you prefer the idea of banking with a non-traditional lender, why not try the Society One Unsecured Personal Loan - Excellent Credit. Borrowers with a top credit history could receive the low 7.50% fixed rate (9.51% comparison rate^) and borrow up to $50,000 from investors. There’s also no monthly or exit fees, so you won’t be penalised if you decide to pay out your loan early. And with Society One, once you apply online, you’ll receive a quote in just three minutes!
If you’re after a loan that’s all about keeping costs low, then look no further than the MoneyPlace Unsecured Personal Loan - Excellent Credit Rating. First off, there’s no upfront, monthly or exit fees, so you can put every dollar towards your repayments. And if you’ve got an excellent credit history, you could be eligible for the low 7.65% fixed rate (7.65% comparison rate^^). Submit an application in 10 minutes and you’re on your way.
If you prefer the idea of keeping all your finances with a big bank, then you could try the ANZ Unsecured Personal Loan. This unsecured loan offers a 12.45% fixed rate (13.32% comparison rate^^), so you’ll always have peace of mind in knowing your repayment amount. And you won’t ever have to worry about missing your repayments, thanks to the Loan Protection Insurance feature. Simply apply online and get a response in 60 seconds.
^The Comparison Rate combines the lender's interest rate, fees and charges into a single rate to show the true cost of a personal loan. The comparison rates displayed are for the amounts and terms below, based on monthly principal and interest repayments, on a secured basis for secured loans and an unsecured basis for unsecured loans. WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may inﬂuence the cost of the loan. ^Based on $10,000 over 3 years ^^Based on $30,000 over 5 years