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Let's Discuss Your Holiday Loan

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What is a Holiday Loan?

  • Personal loans meant to cover holiday-related expenses, bridging the gap between your gift list and bank account.
  • They come with fixed monthly payments over a set period of time, typically 12 months, making them easier to repay than credit cards or lines of credit.
  • They’re unsecured, meaning they don’t require collateral. We rely on credit worth, income and debt-to-income ratios to determine eligibility.

Why a Holiday Loan?

While the holidays are a joyous time of year, they also can cause a great deal of financial strain. From special meals, to gifts for family and friends, there are additional expenses that can cause you to extend your budget.

PWC 2021 holiday outlook Canadians insights

Average Consumer Spend 

Holiday Loan 

4.99%*     vs.      19.99%

Credit Cards  

*PACE Credit Union Holiday Shopping Loan APR is 5.11%

Carrying credit card balances will lead to paying heavy interest costs. A holiday loan secures more favourable terms with a much lower interest rate than the average credit card.