This is one festival that people of all age groups look forward to each year. The spirit of Christmas creates a Utopian world where people love to enjoy and make merry. With Christmas just around the corner, extra cash can always be useful to buy Christmas gifts for relatives and friends. If your savings have been depleted, you can approach the banks or the financial institutions for a Christmas loan. Banks have facilities to grant celebration loans. What are Christmas Loans Christmas loans, also known as 'Fast Christmas Loans' can be obtained very quickly without any hassles. These are unsecured personal loans that are approved and granted without any kind of credit verification. The Christmas/celebration loan amount is generally small, ranging between a few hundreds and ten thousand dollars. Christmas loans are granted to people who want to go for a holiday or want to buy Christmas gifts for family members and friends. Christmas/celebration loans are approved quickly because the banks and the financial institutions have already assessed the risk of lending. So, even a person with bad credit score or bad credit history can apply for a Christmas loan. While applying for a Christmas loan, check the credibility of the lender; you should read the terms and conditions and also find out the rate of interest. Many financial institutions give their customers the facility to apply for loans over the Internet. All you have to do is fill the online application form and submit the required information. Christmas Loans - Home Truths Is it possible to manage the Christmas expenses without a Christmas loan? Would I be able to pay back the loan on time? These are some of the questions you need to find answers about before applying for a Christmas loan. Here are a few home truths you need to know about Christmas/celebration loans. 1. In spite of the tough competition between various money lenders to grant Christmas or celebration loans, most of them would lend the amount only if they know you are in a position to pay it back. While applying for the loan you would have to submit the income proof for verification. 2. Many private financial institutions expect you to pay back the loan amount within 30 days or maximum 60 days. So, ensure that you have enough cash left at the end of the festival month to repay the loan amount and also live comfortably till your next payday. 3. Though the banks give you a longer duration to pay back the Christmas loan amount, you can pay it back within a couple of months. This however depends on your loan amount. If the amount is small, then paying it back within a month may be an easy option. 4. You should clarify all your doubts regarding the repayment plan before you apply for a Christmas loan. Decide whether you would want to repay by sending a check or by linking the loan to your salary account. The mode of repayment should be confirmed with your lender. Applying and paying back the Christmas loan can be very simple, if you have already planned your Christmas budget. You should prepare a separate budget for Christmas along with your regular budget. This would ensure that there are enough funds to repay your loan amount and also meet your monthly expenses.