Sunny’s Alternative to Quick Quid Payday Loans
Representative 1266% APR
Quick Quid Payday Loan Alternative
Representative 1,281% APR
Below you’ll find all you need to know about Sunny’s alternative loans
At Sunny we believe you should always look for the best offer – whether you’re shopping around for a sofa, looking for a new car, or most importantly, if you need a loan for an emergency.
When considering loan companies, such as QuickQuid, 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 find another solution for your money nee
It pays to be savvy when applying to borrow money and so if you’re weighing up QuickQuid or Sunny for your short-term loan, we’ve put together a handy comparison guide.
QuickQuid Loan Eligibility vs Sunny
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 QuickQuid 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.
Here, we’ve attempted to answer some common questions about how QuickQuid works.
1. Do Sunny or QuickQuid charge fees?
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 QuickQuid 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 QuickQuid. 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.
2. Is QuickQuid a direct lender?
QuickQuid is a direct lender, so is Sunny. This means the price you are quoted is final, with no broker fees or charges to worry about. It also reduces delay, as you are dealing with the lender directly.
3. Is the application process the same for Sunny and QuickQuid?
Yes, you will fill in an online application form which is then assessed by your chosen lender. They will then confirm whether you’ve been accepted or not. Online loans are simple, whatever lender you choose.
4. How do I pay back QuickQuid?
You can choose between CPA (Continuous Payment Authority) and Direct Debit. Both types of payment are taken automatically from your bank on an agreed date. However, CPA means that if you don’t have the funds available, you are not charged. If you do not have enough to cover a Direct Debit payment, your bank may issue a charge on top of the amount owed.
QuickQuid also 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.
If you take on a short-term loan with Sunny, we will help set up a manageable repayment schedule for you – based on your income and outgoings. 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, we’ll try to amend it to suit and if you fall behind on a payment we’ll strive to help you get back on track with no fees.
This lack of flexibility at Quid Quid, 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.
5. Can you repay your QuickQuid loan early?
Yes, you can pay back your loan early with no additional costs. Sunny also offers this benefit and you can even save money when it comes to interest.
6. Can I have more than one loan with QuickQuid?
No, QuickQuid has a one loan per customer policy in place. Once you have repaid a loan you have with QuickQuid and the final payment has been received and confirmed then you may be able to obtain another. However, this depends on your ability to pay back the loan you currently have and your current credit rating.
7. How long does QuickQuid take to process payment?
You will receive a reminder three days before your payment date to ensure you pay on time.
The added benefits of a loan from Sunny
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.
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 QuickQuid 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 QuickQuid, but with greater flexibility.
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.
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