Sunny’s Alternative to Quick Quid Payday Loans

Quick Quid loans alternative

Representative 1266% APR

Below you’ll find all you need to know about Sunny’s alternative loans

At Sunny we believe that, regardless of why you need a loan, you should always shop around to look for a provider who best suits your needs.

When considering loan companies such as Quick Quid, it makes sense to do some research before you settle on the right provider for you. Different companies offer different benefits when you take out a loan with them.

Sunny, for example, doesn’t charge any fees and lets you return your loan in five days if you change your mind*. Or, perhaps you can find another solution for your money needs.

It pays to be savvy when applying to borrow money and so if you’re weighing up Quick Quid or Sunny for your short-term loan, we’ve put together a handy comparison guide.

Eligibility for a loan with Sunny or Quick Quid

Eligibility requirements for a short-term or payday loan are often very similar across the industry. To apply for a loan with either Sunny or Quick Quid you must be at least 18 years old, a UK resident and have an active bank account. You must also be employed, with regular income.

Both lenders will also ask you to provide personal information such as your name and home address, a breakdown of your income and outgoings, as well as your bank details, when you apply – this allows lenders to perform a credit check on you.

Both lenders also perform an affordability check based on your current income and outgoings. You can find out more about eligibility for a loan with Sunny via the link below.

Sunny vs Quick Quid loan examples

Here, we’ve shown how a Sunny loan shapes up alongside a similar loan from QuickQuid. Take a look so that you can decide who the better lender is for you before applying.

 

Sunny QuickQuid
Amount you can borrow £100 – £2,500 £100 – £1,000 (£1,500 for returning customers)
Time to take to receive loan, if approved 15 minutes 10 minutes
Fees? No fees £15 late payment fee
Cancellation period 5 days* Standard 14 days
Early payments allowed? Yes and there is no fee. You could even save interest. Yes, there is also no charge and only pay interest on the days you have borrowed.

 

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
Borrow
£100 for 6 months
Interest rate
292% pa (fixed)
6 repayments of
£33.13
Total amount repayable
£198.75
Representative
1266% APR
Max APR   %

Sunny and Quick Quid information hub

You may have some questions around which lender is best for you and what they offer. We’ve tried to answer some of these below, to help when making your decision about where to apply for an emergency loan. If you have any further questions then you can find more information in our full FAQ section.

If you choose Sunny for a short-term loan, you won’t pay a penny in fees. We don’t even charge you a fee if you are late making repayments, whereas Quick Quid will charge a late fee of up to £15. This means more money will be added to your balance and you may end up paying back a higher amount overall.

There is, however, the option to request an extension on your loan repayment date with Quick Quid. You can do this a maximum of two times per loan, and you will be charged the same rate of daily interest for the additional time you have a balance.

Fees such as late repayment charges and additional interest for extending your loan can have a big impact. Though they seem small at first, they can add up over time and make it more difficult for you to repay what you owe.

It is for this reason that we at Sunny have no fees and don’t allow extensions or rollovers. This means that you’ll know exactly what you’re going to pay back in total upfront, and there will be no surprises further down the line.

With both Sunny and Quickquid, you will fill in an online application form which is then assessed by your chosen lender. They will then confirm on whether you’ve been accepted or not. What information they ask for, and how they do it, may be different, though. But, you can rest assured that online loans are designed to be simple, whatever lender you choose.

If you take on a short-term loan with Sunny, we will set up a repayment schedule for you – that’s based on the amount you borrow. All of your payments will be for around the same amount, give or take a few pennies, making them easier to budget for.

If you find that it doesn’t work for you, and you want to repay more quickly, you can choose a different schedule, or make additional one-off payments through your online account, and save money on interest.

If you find that you need longer to repay, we encourage you to get in touch with us as soon as you can - we’ll try to amend your schedule to suit and if you fall behind on a payment we’ll strive to help you get back on track with no fees.

Quick Quid uses a set repayment structure that all their customers follow. You can choose to pay over 1, 2 or 3 repayment periods. Typically, if you select a longer window to pay over, you’ll pay much more in your final instalment which can be difficult to budget for.

Like Sunny, Quick Quid also charge daily interest, so if you’re able to repay your loan early, it will cost you less in interest. However, you must contact their customer support team if you wish to repay early, whereas with Sunny you can manage this for yourself.

This structure, unlike what’s on offer at Sunny, means the loan may not always fit your circumstances and if another unexpected payment occurs further down the line, you might fall behind on your repayments.

How Sunny can help

At Sunny, we offer loans for life emergencies, when you have nowhere else to turn for the cash you need. This is why we have created a range of supporting features to ensure our loans are easy to manage and won’t lead to financial difficulties. We’ve broken them down here.

We can transfer you your cash, fast, once you’ve been accepted. In most cases, we can have the funds you need in your account within 15 minutes of approval.

There are no hidden charges or fees to worry about when you choose Sunny. You won’t have to pay to apply or even be charged if you fall behind on a payment.

We offer all our customers five days* to change their minds on their loan. Simply call us to pay back, and you won’t pay a penny in interest.

More information on Sunny’s alternative to Quick Quid loans

Short-term loans are an excellent alternative to a traditional payday loan. Being able to pay back what you’ve borrowed over a few months, rather than in one go on your next payday, allows you to better manage your money without the worry of being left short again once you’ve repaid.

At Sunny we put our customers first, which is why we’re an ideal solution if you’re looking for Quick Quid alternatives when taking out a loan. We provide an all-important life line to our customers, helping them keep their heads above water when an unexpected bill suddenly appears.

We enable our customers to resolve their short-term financial problems and work towards a healthy financial future. We prioritise you, and make sure our loans fit around your circumstances.

For a flexible approach to financial support and great peace of mind, we think our emergency loans are second to none. Our fee-free alternative to payday loans is the ideal solution if you’re looking into a lender such as Quick Quid, but with greater flexibility.

Comments from Sunny customers

There are many reasons our customers wish to take out an emergency loan and whatever that may be – from covering the cost of a parking ticket or a broken washing machine to a problem with your car – we’re not here to judge.

We understand that it can be stressful to find yourself searching for funds to cover unexpected expenses like these. Take a look at our Trustpilot reviews and score**, to see how we’ve helped other people like you.

Got everything you need?

If you feel like Sunny is the best choice for you and you have all the information you need when it comes to getting money for an emergency, hit the apply now button below.

Looking for alternative lending options?

We offer short-term loans to help you, whatever your situation. If you want to see how we compare to other loan providers, take a look at our guides below.