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Sometimes, no matter how carefully you spend and budget, your money just doesn’t last from payday to payday. Unexpected bills can come up suddenly, catching even the best budgeters off guard and now, you might feel stuck, trying to find a way to cover an expense that you couldn’t predict.
However, here at Sunny, our no-nonsense approach to getting the money you need into your bank account could help you sleep easier in the face of unexpected expenses. With our market-leading panel of lenders, instant loans come in a range of amounts, with repayment periods determined by the amount you borrow. This means you can select an amount that works for your current circumstances. In this guide, we’ve broken down what an instant loan is, why it might work for you, and what it involves.
You’ll need to be at least 18 years of age, have a valid UK bank account, a regular source of income, and be a UK resident to be eligible to apply for an instant loan through Sunny.
After inputting your details our lenders approve or decline your application within minutes, and if approved, the money could be deposited in your bank account in as little as 15 minutes#. From this point on you can manage your account online directly with your lender.
Representative Example: Borrowing: £1000 for 18 months, Total Repayable: £1853.43, Total Interest: £853.43, Interest Rate (Variable): 89.9%. Rates between 9.3% APR and 1721% APR – your no-obligation quote and APR will be based on your personal circumstances. Loan term lengths from 3 to 36 months. Subject to lender’s requirements and approval.
Sunny Loans is a registered trading name of Flux Funding Limited who are a credit broker, not a lender. Loan repayment terms are 3-36 month loans.
Warning: Late repayment can cause you serious money problems. For help, go to www.moneyhelper.org.uk.
An immediate cash loan offers an instant decision on your application and then if you are approved, the money is transferred directly to your bank account in minutes#. For those dealing with an emergency expense, instant loans are a great option.
At Sunny, our lenders can indicate whether or not you’ll be approved for a loan by carrying out a soft search of your credit report, which doesn’t impact your credit score. If you’re likely to be approved and decide to go ahead and apply, they will carry out a hard search of your credit report and once approved, you’ll receive the money in just 15 minutes#.
There are a wide range of situations whereby you might be feeling that your funds are a little too thin to cover you. Unexpected expenses such as boiler repairs, broken plumbing and leaky roofs are not usually things you factor in to your budget and can be expensive to fix, causing high levels of financial burden.
Other expensive surprises such as vehicle breakdowns and problems with your white goods are common reasons for taking out an instant loan, to shoulder the burden quickly and get back on track.
Credit checks are a legal requirement, which means that for every application we receive, our lenders carry out extensive credit checks to make sure the applicant can afford their repayments. Instant loans online with no credit check do not exist, and here at Sunny, we believe that’s for the best.
It’s of the utmost importance to us that our customers can afford their repayments, as causing extra stress is not our aim. We like to think of ourselves as a lifeline to those experiencing an emergency cash situation, offering a helping hand on a short-term basis. We understand how upsetting financial problems can be, but being able to afford your payments is more important and avoids more upset in the long term.
Your credit score will be taken into account when a lender assesses your application for an instant loan. If you have a bad or non-existent credit score, this may affect your ability to get the best rate on an instant loan. In this scenario, you may still be able to secure a loan, but at a higher rate of interest and perhaps not for as much as you originally applied for.
It is possible to get an instant loan with bad credit but bear in mind the interest rate may be higher. Look into our guide on bad credit loans for more information on how this works, and how you can take simple steps to improve your credit rating.
Sunny is an FCA-regulated credit broker. We work with a panel of lenders who offer instant payday loans to support you when you need a little extra cash to cover unexpected expenses.
You can click here to find out if you are eligible, and apply, for one this kind of loan. If you need any help, our friendly, UK-based customer care team are on hand to answer all your questions.