Sunny offer fast flexible short-term online loans and the money can be in bank account within fifteen minutes of being approved. Applicants can borrow between £100 and £2500 over periods between 6 and 14 months.
Sunny personal loans are available to people with bad or limited credit history and they are meant for short-term emergencies such as the boiler breaking down or needing to get the car fixed.
When applicants apply for a sunny short-term loan a credit check will be done which will leave a footprint on applicants credit file. The interest rate and repayment term will vary depending on how much customer borrow from £100 over 6 months at 292% per annum (1291% APR) to £2500 over 14 months at 128% per annum (238% APR).
For example: If someone decide to borrow £1500 this can be done over 7 months with monthly repayments of £379.85. This is an interest rate of 244% per annum with a representative APR of 830%. The total amount payable would be £2659.01.
Sunny offer 5 days to changing up mind and if repaying the full amount in this time customers will not have to pay any interest. There are no fees charged on Sunny loans – not even for late payments. Interest is charged daily and customers can make extra repayments at any time and pay the full amount early to save on interest.
Applying for a loan and the management of the account can be done online and if needed to speak to a person their phone lines are open 7 days a week.
Sunny do stress that their loans are for short-term help and not a solution to long-term financial problems. Applicants need to ensure that they will be able keep up with repayments.