If you’re feeling the financial pinch this holiday season, you’re not alone. This year could be particularly difficult to find money to spend for holiday gifts and travel with inflation making purchases considerably more expensive. A Camino personal loan could be a solution to help you with finances this holiday season without having to get into credit card debt and pay sky-high interest rates.
According to a survey by Money Geek regarding spending and credit card debt from the 2021 holidays, on average, $1,131 was spent per person. The study revealed that 65% of those holiday shoppers used credit cards. A majority of those surveyed were still not able to pay off their 2021 holiday credit card debt many months later.
A Camino personal loan can be utilized for virtually any purpose, including holiday spending. It offers a convenient lump sum payment, upfront once you’re approved with great rates, unlike credit cards.
Additional Benefits of a Camino Personal Loan:
- Receive low, competitive rates
As a not-for-profit credit union, we’re able to offer comparably great lower rates.
- Enjoy a fixed interest rate
Receive a fixed rate lower than other borrowing options. You will know the exact amount you’ll pay back each month, so it’s easy to budget.
- Repay your loan on your terms
Since the repayment terms of your loan can be spread over a longer period of time, depending on your fixed loan agreement, you choose the monthly repayment that works best for you, typically from 24 months to 60 months.
- Conveniently get paid in one lump sum
Receive your loan payment in one lump sum that gets paid upfront once approved.
Choose from Two Different Types of Camino Personal Loans
Camino offers two different types of personal loans: a signature loan and a share-secured loan.
- A signature loan is an unsecured loan that doesn’t require collateral, so the terms are more limited.
- A share-secured loan is a secured loan that uses your deposits at Camino as collateral.
Need a Camino Personal Loan to Help with Holiday Spending? Call Camino Today!
Let Camino help you with your financial journey and help you better understand what to expect from a personal loan with us whether it’s to help with your holiday spending or any other need you have for financing. We want our members to find the best loan and financing option that works for them and their specific needs. Camino offers a variety of loans to ensure you receive the right support for the reason you’re borrowing money. Each loan comes with different terms that help determine what you’re most qualified for. Please go online at caminofcu.org, give us a call at 800-835-3400 to speak with one of our Member Advisors, or contact us for more information.