Christmas loans
Make Christmas easier to plan for with a personal loan from Great Western Credit Union. Spread the cost of presents, food, travel and other festive expenses with fixed repayments you can budget for.
✓ Repayments from as little as £10 per month on a £100 loan over 12 months
✓ Check your eligibility before applying with no impact on your credit score
✓ Simple, quick online application
Spread the cost of Christmas
Christmas can be an expensive time of year. From presents and festive food to travel, decorations and family celebrations, the costs can quickly add up.
A small Christmas loan could help you spread the cost through affordable, fixed repayments.
At Great Western Credit Union, we offer fair and affordable personal loans from £100 designed to fit around your Christmas budget. Whether you're planning ahead for the festive season or covering some of the extra costs that come with it, you can choose how much you need to borrow and repay in a way that works for your budget, subject to affordability and application checks.
What is a Christmas loan?
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A Christmas loan is a type of personal loan that can be used for a range of festive expenses. Depending on your circumstances, you could use the money to help cover:Â
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- Christmas presents and gift shoppingÂ
- Food and decorations for ChristmasÂ
- Travel to visit family and friendsÂ
- Festive activities and celebrationsÂ
Get a quote before you apply
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Find out how much you will need to repay.
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We'll also tell you how likely you are to be approved.
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Getting a quote won't affect your credit score.
You can borrow up to £15,000. Representative APR 14.9% to 42.6% based on the amount you borrow and individual situation. Repay your loan over 1 to 5 years.
Loans are subject to status.
We will show you:
- your personalised interest rate
- how much your repayments will be
- how much the total loan would cost
Key details
Taking out a personal loan with GWCU is a simple process.
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Borrow anywhere from £100 to £15,000
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Pay back your loan with a fixed interest rate
The specific rate you receive depends on the amount you borrow and individual situation.
£100 - £15,000
14.9% to 42.6% APR representative on loans between £100 and £15,000.
Your rate is personal to you. It’s based on things like your credit score, income, and loan amount, so it might not match the Representative APR.
The rate you see in your quote is an estimate and not a guarantee.
Representative APR: 42.6%
Representative example: Borrow £1,000 over 12 months, and repay £100.46 per month, total amount payable (including interest of £205.52) is £1,205.52.
Your actual rate will depend on your credit profile. Rates range from 9.9% to 42.6% APR.
Other examples:
Borrow £2,000 over 24 months, and repay £116.07 per month, total amount payable (including interest of £785.68) is £2,785.68. 39.9% APR representative.
Borrow £4,000 over 36 months, and repay £152.06 per month, total amount payable (including interest of £1,474.16) is £5,474.16. 23.9% APR representative.
Borrow £6,000 over 48 months, and repay £177.25 per month, total amount payable (including interest of £2,508.00) is £8,508.00. 19.9% APR representative.
Borrow £10,000 over 60 months, and repay £232.73 per month, total amount payable (including interest of £3,963.80) is £13,963.80. 14.9% APR representative.
1 month - 5 years.
There are no fees for paying your loan off early.
Why choose Great Western Credit Union?
As a credit union, we do things differently. We’re a mutual, member‑owned financial organisation, which means our focus is always on our members’ financial wellbeing, not making profits for shareholders.
As a co-operative, we care deeply for our local communities in the South West. That’s why every penny stays right here in the region with any profits reinvested to benefit our members and the communities we’re proud to serve.
We always take your current circumstances into consideration, not just your credit history.
No hidden costs, no late fees, and no penalties for early repayments.
We pride ourselves on being responsible lenders, meaning we only approve a loan if we’re sure you can safely repay it.
With plans stretching up to 5 years, repayment schedules are adapted to your lifestyle so you’re never caught out.
How much could a credit union Christmas loan cost?
Start by working out what your Christmas expenses are likely to be, then use our loan calculator to see what your repayments could look like.
Only borrow what you need and can comfortably afford to repay.
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This example is an estimate. The actual rate you're offered could be higher or lower than the rate in this example depending on your personal situation, the loan amount and the term you choose when you apply. You'll see your personal rate before you decide to go ahead.
Am I eligible for a Christmas loan?
To apply for a GWCU Christmas loan, you must:
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Be aged 18 or over
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Live or work in Bristol, Bath, Gloucestershire, Wiltshire, Somerset, and Dorset
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Have a regular income of £450 or more a month
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Have enough disposable income to comfortably make your repayments
Optional: You are a tenant of one of our partner housing associations (if your postcode is outside of our usual area)
Can I get a Christmas loan with bad credit?
While we do perform an initial credit check, it’s not the only thing we look at. We also consider your personal circumstances and income when reviewing your Christmas loan application to make sure the loan is right for you.
Should I get a Christmas loan?
A Christmas loan can help spread the cost of festive spending, but it's important to consider whether borrowing is right for you.
Taking a moment to understand the pros and cons can help you decide what's right for you and your budget.
Here are some things to consider:
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Ready to plan for Christmas?
Christmas spending can add up quickly, but a Christmas loan from GWCU could help you spread the cost with confidence.
Use our Personal Loan calculator to see what your repayments could look like before you apply.Â
Frequently asked questions
What is a Christmas loan?
A Christmas loan is a personal loan used to help cover festive expenses such as presents, food, travel and celebrations. Like other personal loans, you'll repay what you borrow plus interest over an agreed period.
Are Christmas loans a good idea?
Borrowing for Christmas isn't right for everyone. Before applying, consider whether you can comfortably afford the repayments and the total cost of borrowing after Christmas.
Use our simple calculator to see what your repayments could look like based on how much you'd like to borrow.Â
Do people take out loans for Christmas?
Many people take out loans to help cover the cost of Christmas. From presents, food, travel and festive activities, a Christmas loan can help spread the cost over time.
However, it's important to remember that you'll need to repay what you've borrowed, plus interest, over an agreed period. This means you'll repay more than the original loan amount, and missed repayments could affect your credit score.Â
Are credit union Christmas loans secured or unsecured?
Generally, Christmas loans from credit unions are unsecured. This means you don't need to use your home, car or any other asset as security when borrowing for festive expenses.
At Great Western Credit Union, our Christmas loans are unsecured, giving you the flexibility to fund your Christmas with confidence.
What can I use a Christmas loan for?
A Christmas loan can be used for many of the extra costs that come with the festive season. From buying presents and stocking up on festive food to covering travel costs, decorations or family celebrations, it can help you spread the cost over time through affordable repayments.
Whether you're planning ahead or managing seasonal expenses, a Christmas loan can provide a fair and flexible way to budget for the festive season. As with any borrowing, it's important to make sure the repayments are affordable and that you're only borrowing what you need.
Can I get a Christmas loan with bad credit?
At Great Western Credit Union, we consider more than just your credit history. While we do conduct an initial credit check to make sure you can safely repay your loan, we also take into account your personal circumstances when reviewing your application
Take our quick eligibility check to find out whether a Christmas loan could be right for you.
How quickly can I receive the funds from a Christmas loan?
Christmas loans can help you plan your festive budget sooner, giving you access to the funds you need straight away if your application is approved.
Why did I receive a personal loan when I applied for a Christmas loan?
A credit union Christmas loan is simply a personal loan used to cover the cost of Christmas expenses.
When you apply, your application will show as a personal loan. Our personal loans can be used for many different reasons, including home improvements, Weddings or Christmas.
That means nothing’s changed about what you’ve applied for. It’s simply the type of loan we offer, and you can still use it as planned.