£500 Loans

£500 Loans

Instant Decision & No Fees

Representative 1281% APR

Here you’ll find all you need to know about £500 loans from Sunny

When a life emergency such as a car repair or boiler breakdown happens, we cross our fingers (and toes) and hope that it won’t cost too much. But sometimes, these emergencies can cost a lot of money and you may find yourself needing to borrow £500 or more for  repairs. For some people that can be a real strain on their finances.

At Sunny you can apply for a loan in values anywhere from £100 to £2,500 giving you the freedom to apply only for the amount you really need. For a £500 loan, your repayment term will likely be six months but you can select a shorter payment schedule if you like. You could even pay back the entire sum at once when you have been paid – and save money on interest for doing so.

Our £500 loans are available to support you in those emergency moments. It’s as simple as applying online and receiving an instant decision. Here, we’ve broken down everything you need to know about taking on a £500 loan and when it could be the most appropriate solution for you.

£500 Sunny loan Eligibility

To apply for any loan or credit product, you’ll need to tick a few boxes before you are considered eligible. Here at Sunny, we include the following in our eligibility criteria:

  • You must be 18 years old or over
  • You must have a regular income
  • You must be a UK resident and have a permanent address
  • You must agree to a credit and affordability check


We also ask that you are not bankrupt, have a valid email address and are able to supply proof of your address for the past three years. With all these things, we can review your application and come back with an instant decision regarding your £500 loan.

Loan example

Check out our calculator, which breaks down the cost of a £500 loan with Sunny, plus what you’ll pay back in interest. It can also help you decide how long it’ll take you to repay. For a £500 loan, your repayment period will be six months, but you can adjust your schedule to pay back in a shorter period if you wish. Use the sliders to see which option works for your current financial situation.

Monthly Rate
24 %

Based on a 30 day month

Loan Term
6 Months

The loan term is fixed but you can repay early at any time

Representative example
£100 for 6 months
Interest rate
292% pa (fixed)
6 repayments of
Total amount repayable
1281% APR
Max APR   %

£500 loan frequently asked questions

Looking for more information on our £500 loans? We’ve answered some common questions here regarding applying for emergency cash and making the right choice for you.

Yes, if your application is approved by Sunny we will transfer you the money you want to borrow, direct. If your loan is approved by us, you’ll enjoy a smooth experience from your first application to your final payment.

We recommend you only take out an emergency payday loan in an amount that you need. So if your car repairs come to £490, a £500 loan will more than cover the costs. Don’t apply for more emergency money than necessary though, you’ll still have to pay it all back, which will cost more in interest and could mean you’re making repayments for longer than you’d like.

£500 loans are often used to cover things like car repairs, or needing to replace an essential household appliance. You couldn’t go very long without a working washing machine, for example, but replacing a broken one isn’t cheap!

You shouldn’t apply for a £500 loan so that you can make payments on another payday loan or debt. If you need any help when it comes to your finances, we suggest you seek free and impartial debt advice from an organisation such as Stepchange.

Our interest rates are capped at 0.8% of the amount borrowed, per day. And, you’ll never pay back more than double the amount borrowed overall, including interest and fees. Our interest rates are the same irrespective of your credit history, so even if you have “bad” credit, as long as you’re approved, this is the rate you’ll pay. We have more information about this in our bad credit loans guide.

How a £500 loan from Sunny could help

Our loans are designed for emergencies but we also believe in offering you a great experience on top. Here are just three reasons why Sunny could be the right lender for you:

We can have your £500 transferred to you in no time. We will deposit the money straight into your account in as little as 15 minutes of approval.

We don’t charge fees, so you don’t need to worry about finding the funds for extra charges that some other lenders ask for.

If you don’t need your loan, you can call to return it to us in five days* and you won’t pay a penny of interest.

More information on borrowing £500

Our quick £500 loans can be a good solution in an emergency or if you need urgent financial support before payday. They are transferred directly into your bank account, so you can act quickly when it comes to sorting out that unexpected expense.

A £500 loan can help cover expenses such as having to replace a washing machine, or paying to fix damage to your car. You can use your money to get the fix sorted quickly, then make repayments once payday rolls around.

These loans can ensure you don’t fall behind on other important expenses, such as bills and direct debits, while also helping in an emergency.

What you borrow is paid back in manageable instalments, but if you can afford to pay a little extra, we make it easy for our customers to repay their loans early to save on interest.

What our customers think

We have some happy customers here at Sunny, who appreciate our simple and easy to understand approach to lending money. You can see exactly what they say about us, as well as our great TrustPilot reviews**, below.

Have everything you need?

A £500 loan can be a good option in an emergency and if you feel confident that this amount is right for your situation you can apply online today for an instant decision. If you have any queries about the application process or our loans, get in touch with our team.

Need even more information?

Take a look at our guides, featuring tailored information for a variety of urgent money situations. Whether you have bad credit and need a loan or are looking for a payday loan to tide you over until your wages land, click on the links below to find out more about these.