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Should You Finance Your Christmas Gifts?

October 04, 2023 • 1131 views

Christmas is a time of year that brings so much joy and excitement to everyone. We all love to give and receive Christmas gifts during this special time, and it's a great way to show our loved ones how much we care. If you're looking for a way to give without breaking the bank, then a Christmas Loan might be just what you need. There are plenty of other benefits to taking out a Christmas Loan, such as no collateral requirement, flexible repayment tenure, attractive interest rates, etc. Before you apply for a Christmas Loan, you must read the blog.

As a borrower, you have an advantage with various lenders present in the market. You can apply for a Christmas Loan online with lenders such as new-age NBFCs and banks. Alongside this, digitalisation in the lending industry has drastically transformed the borrowing experience for borrowers across the country. Today, you can apply for a loan online from any remote location and get the loan amount directly disbursed to your bank account. This has allowed you to apply for an instant loan, especially during Christmas when you are in urgent need and want to surprise your loved ones.  

Who Can Apply for A Christmas Loan Online?

If you want to apply for Christmas Loan online, you must meet the following criteria

  • Good credit score – Your credit score should be 750 or more.
  • Age - You should be between 24 to 54 years
  • Work Experience – You should have more than one year with at least one month of stable work experience.
  • Income – You should have at least 30,000 or more monthly income.
  • Employment – You should be full-time employed with a reputed company or any government-recognised organisation.

Please note that the criteria mentioned above might differ from lender to lender.

What are the Documents Required for the Christmas Loan?

While applying for a Christmas Loan, you must submit the following documents: KYC documents, current address proof, income documents, financial documents, and employment proof. These list of documents may vary from lender to lender. However, you must keep all the documents handy before applying for a loan. This will save you time and make loan processing easier.

Should You Finance Your Christmas gifts?

There are various advantages to applying for a Christmas Loan, especially when facing a financial crunch.

  • Instant finance: You can always have similar access to such capital as you are bound with various financial responsibilities. With Christmas Loan online, you get access to instant finance within hours.
  • No Collateral Requirement: Christmas Loan is an unsecured loan where you don't have to provide any security to apply for a loan.
  • Online Loan application: One of the most significant advantages of Christmas Loan is that you can apply online from any remote location. This provides you easy access to your funds at your fingertips.

Along with the advantages mentioned above, there are a few concerns you should keep in mind, such as

  • Interest: One of the major concerns during a loan is the interest you pay along with the principal amount. The interest rate varies depending on the repayment period, down payment, etc.  
  • Fees: Few lenders charge you additional fees such as prepayment penalties, processing charges, etc. This charge adds to your debt burden.  
  • Impact on credit: In case of default or delay in repayment, your credit score is impacted negatively. While you apply for a loan, you must ensure to repay the loan on time.


In conclusion, a Christmas Loan is ideal for Christmas gifting this year. Christmas Loan will help you plan your gifting, especially for the special ones. On the other hand, if you are planning for your Christmas holiday or planning to renovate your house, Poonawalla Fincorp is your ideal partner. With Poonawalla Fincorp, you can apply for various types of loans such as Personal Loan, Professional Loan, Business Loan, Pre-owned Car Loan, Machinery Loan, Loan against Property, etc.


We take utmost care to provide information based on internal data and reliable sources. However, this article and associated web pages provide generic information for reference purposes only. Readers must make an informed decision by reviewing the products offered and the terms and conditions. Personal Loan disbursal is at the sole discretion of Poonawalla Fincorp.
*Terms and Conditions apply

poonawalla fincorp team

Poonawalla Fincorp Team

Our team of expert writers and editors are passionate about providing authentic and valuable information on finance. Our aim is to simplify financial and finance-related concepts. We strive to help our readers become more aware and empowered to make informed financial decisions.

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