Christmas loans: top up your loan or apply for a new one

Christmas is one of the best times of the year, and one of the most expensive. Between presents, food, travel and catching up with everyone, the costs can add up quickly.

If you're thinking about borrowing to cover some of it, we can help, whether you're already with us or not. But first, a bit of honest advice: Christmas lasts a few days, and repayments last a lot longer. So it's worth working out what you can comfortably afford before you apply.

We won't let you get in over your head. We're responsible lenders, and we're committed to making sure your loan fits your situation.

Whether you're topping up or applying for the first time, we'll always go through your budget with you to check you can afford the repayments.

Christmas Loans at a glance:

• Already with us? You may be able to top up your existing loan, and still have just one loan and one repayment.

• New to Instant Finance? You can apply for a personal loan from $500 to $50,000, over 3 months to 7 years.

• Interest rates range from 9.95% to 29.95% p.a., depending on your circumstances.

• Apply online, call us on 0800 760 000, or visit one of our 25 branches.

• We check your budget before we lend, every time.

• Once you're approved, the money is in your account within 24 hours.

Before you borrow for Christmas

Ask yourself these four questions first:

1. What's left after the bills? Work out what you've got spare each week once rent, power, food and other regular costs are covered.

2. What are you already paying off? Count everything, including loans, credit cards, buy now pay later and store cards.

3. How long would you be paying it back? If the repayments would still be running next Christmas, it might be worth borrowing a bit less.

4. What's the plan for January? Bills don't take a holiday, and January can be a tight month. Make sure the repayments still fit once the festive season's over.

Not sure about any of these? Our personal loan affordability tips go through it step by step. Our Christmas budget guide can help you plan what you'll spend, and our loan calculator shows what repayments could look like.

Already with us? Topping up your loan

You don't have to pay off your current loan before you can borrow a bit more. If you've already got a loan with us, a top-up is often the simplest option. The extra amount is added to the loan you already have, so you've still got just one loan and one repayment to keep track of.

The simple version: if you can afford to borrow more and pay more, a top-up could be an option. Borrowing more means you'll be paying more, so we'll go through your budget with you and show you what your new repayments would look like before you decide.

We'll also look at how your current loan is going. If anything has changed since you took it out, just let us know.

The easiest way to top up is to give your branch team a call or pop in, as they already know you and your loan. You can also apply online. Want the full picture first? Read how to top up your Instant Finance loan.

New to Instant Finance? Borrowing for Christmas

If you're not with us yet, you can apply for a personal loan to help with Christmas costs. A Christmas loan is simply a personal loan you use for whatever Christmas needs covering.

You can borrow from $500 to $50,000, over 3 months to 7 years. Interest rates range from 9.95% to 29.95% p.a., and the rate you're offered depends on your circumstances. Fees apply, and you'll find them all on our rates and fees page.

Before you apply, have a play with our loan calculator to see what your repayments could look like. If you're only after a smaller amount, our cash loans page explains how those work.

Applying is simpler than you might remember

If it's been a while since you last borrowed with us, things look a bit different around here. We'll ask a few straightforward questions: how much you need, where you live, how to contact you and how you earn your income.

Apply online, any time

Our application is fully online, so you can apply whenever suits, even from the couch. Prefer to talk to someone? Call us on 0800 760 000 or visit your local branch.

Upload your bank statements securely

Instead of bringing paperwork in, you can upload your bank statements online after you apply. We take your privacy seriously, so we use trusted providers to keep your information secure.

Sign your loan documents online

Once you're approved, we'll email your loan documents so you can read and sign them wherever you are, with no need to come back into the branch. The money will then be in your account within 24 hours.

Christmas loan FAQs

Can I top up my loan before Christmas?

Yes, if you're an existing customer and the extra repayments fit your budget. Top-ups are available all year round, not just at Christmas. Get in touch with your branch team on the phone, online or in branch.

Can I get a loan for Christmas if I'm not already a customer?

Yes. You can apply for a personal loan from $500 to $50,000 online, over the phone or in branch. As with every loan we offer, we'll check the repayments fit your budget before we lend.

How much should I borrow for Christmas?

Only what you need and can comfortably repay. If the repayments would still be running next Christmas, think about borrowing less. Our loan calculator can show you what different amounts would cost each week.