When you apply for a loan with Sunny, you’ll receive an instant decision. This confirms your likelihood of being accepted for the loan or not – and we also use soft search***, which means we check your credit report without leaving a mark. If you are approved for your loan, you will receive confirmation of the amount and when this will be paid into your bank account. We strive to transfer all loans that have been accepted within just 15 minutes. You’ll also be sent details on how to create and access your Sunny loans account where you can monitor payments and ensure you’re on top of things moving forward.
Many people in the UK – 35% of households according to the Money charity – don’t have enough savings to cover an unexpected cost. This is where a payday loan can come in. These loans can be used to bridge the gap between an unexpected expense and payday. They are usually for small amounts and come with high-interest charges, so you would only take one on in an emergency and if you are confident you will be able to repay shortly after.
Payday loans are suitable for people from all kinds of credit backgrounds. Even if you have a lower credit score, you may still be eligible to borrow with a payday loan. However, if you have poor credit history, you may find that you cannot borrow as much as you perhaps would like, and may face higher interest rates because of this.
Yes. As part of our commitment to responsible lending, we carry out credit and affordability checks on all applications submitted to us. This assists with fraud prevention and also ensures we only approve applications from people who we believe will be able to repay what they borrow. You can learn more about credit checks and how we use the information provided to us by Credit Reference Agencies (CRAs) by visiting the “Your Privacy” section of our website.
Yes, Sunny is a direct lender, not a broker. This means that when you apply for a payday loan you apply directly to us, then we transfer you the money if you are approved. Although Sunny is a direct lender, we don’t consider ourselves to be a payday loan company. Rather, we offer short-term loan options that provide more benefits than a standard payday loan.
In the past, the interest and fees on payday loans were unregulated and some companies placed very high interest rates on these products. This lead to people finding themselves owing a lot more than they initially budgeted for. Here at Sunny, we strive to offer “life support” to those who need it. This is why we’ve never charged fees on our payday loans,and encourage you to repay early to save money on interest.
Applying for a Sunny loan is very straightforward via our simple online application, which delivers a decision in minutes. If your loan is approved, the money you borrow will be sent to your bank in as little as 15 minutes that same day. However, we also give you five days to change your mind and repay the amount borrowed with no interest and no questions asked, just to give you further peace of mind*.
More information on payday loans
Payday loans can also go by the name of ‘payday advance’ or ‘cash advance’ loans. They are usually taken out to cover emergency expenses and unexpected payments. An unforeseen car repair or a boiler breakdown may be a costly but crucial job. They are generally best suited to a situation where you need money straight away and you are confident you will be able to pay it back on payday. However, it’s advised to only take out a payday loan when completely necessary. It’s also important you try to avoid taking them out on a regular basis, as they are not designed as a solution for a long-term borrowing need.
At Sunny, we consider payday loans essential life support to people faced with unplanned or emergency expenses. To minimise the burden at often difficult times, we don’t charge fees and also offer the option to return the loan, interest-free, if for any reason you change your mind, or find you don’t need the loan after all, within five days*.
If you are considering a payday loan, we recommend waiting to apply until you know the exact amount you want and have compared various lenders, to be sure you’re getting the best deal.
Based on a
30 day month
The loan term is fixed but you can repay early at any time
If your payday loan is approved, the money will arrive in your bank account in as little as 15 minutes.
If you change your mind, you can call to cancel your loan within five days of taking it out and repay only the amount borrowed with no fees or interest*.
Once you take on a loan with Sunny, you have total control. We give you access to an online portal that allows you to manage your payments.