Same Day Loans Information Hub

We’ve answered some of the most common questions around same day loans here in our information hub. Our FAQ section may also answer any further questions you have, or you can speak to our friendly UK-based customer service team.

  • Same day loans are, as their name suggests, loans that can be provided to you on the same day as you apply. They are intended to help with emergency,or unforeseen circumstances. For example, if you need urgent car repairs, your boiler breaks down or if you’re experiencing a family emergency, a quick same day loan can be a helpful solution to see you through and help you spread the cost of the expense.
  • You can get a same day loan from Sunny. We offer loans that can be applied for and funded within 24 hours. If your application is approved, we can transfer the amount borrowed into your bank account in just 15 minutes.

    It’s important to arm yourself with all the facts and really understand the numbers when considering any loan. You want to make sure that you can comfortably repay the loan and avoid future financial complications or difficulty. To make sure you are in the know, here’s all the information you need on same day loans. This includes what they involve, what situations they are best suited to, what their advantages and disadvantages are, and how to apply for a same day loan with Sunny.

  • Same day loans are smaller short-term loans, you apply for one and if approved the money is transferred immediately. You can then use it as necessary and pay it back over an agreed period of time. 

  • You can check how likely you are to be approved for a loan with Sunny before you apply. We do this by carrying out a soft search of your credit report***, using the information you provide to us. This kind of credit check leaves a record on your credit file that’s only visible to you. If you’re likely to be approved and decide to submit your application, then we will carry out a hard credit check, which will leave a record on your credit report that’s visible to others who may search it from time to time. 

    We take a wide range of information into account when assessing your application, including your credit score and information from your credit history, and your income and expenditure data.

  • To check your credit score and view your credit report, you can use one of the Credit Reference Agencies: TransUnion (formerly CallCredit), Equifax or Experian. If you have a low credit score, there are some simple and quick ways you can go about improving it. One solution is to get on the electoral roll if you are not already, which increases your credit rating. You can also close any old credit card accounts that you are no longer using, as unused but active cards can have a negative impact on your credit score. 

    However, improving your credit score is mostly a matter of good behaviour over time. Making sure you repay all your bills on time each month and trying to keep well below your credit account limits will help. 

  • You should only consider applying for a same day loan if you need the cash fast and have exhausted all other borrowing options. That means looking at your budget to see if you can cut costs anywhere to cover the bill, asking friends or family for help, or using savings. Same day loans are a useful option but should be one of the last ones to consider in a financial emergency. 

More information on same day loans

Same day loans can be a handy way of dealing with life’s emergencies. As suggested by the name, same day loans generally mean that if your loan is approved, you can receive the money on the same day, so you can quickly and easily cover unexpected expenses. This type of loan is usually for a relatively small sum on a short-term lending basis.

Loans with a same day payout are a popular financial solution when struggling to cover an unexpected but urgent cost and make ends meet, too. Because you don’t have long to wait for the loan to be approved, you can tend to your financial needs quickly after they arise.

Our instalment loan sizes range from £100 to £2,500, with repayment periods determined by how much you borrow. Therefore, we hope you’ll find a flexible loan suited to your individual financial situation if you’re accepted with Sunny. Your repayment schedule will automatically spread your repayments over a number of months to suit your budget, but you can use your online account to make additional payments or shorten your schedule so that you pay back early, and therefore save money on interest. 

While same day loans may seem like a welcome option for many, they are designed for occasional use to cover an emergency or unexpected expense. It’s not wise to use them on a regular basis or to cover a long-term financial need. It’s also important to never borrow more than you can comfortably afford to pay back. Last but not least, ensure you research the loan you are applying for, and the provider, thoroughly before putting in an application.

Examples of same day loans

Use our sliding calculator to take a look at our same day loans options. You can choose the amount you want to borrow and see how this adds up in terms of monthly repayments and interest. Take a look at our borrowing options, to determine if Sunny is the best lender for you.

Monthly rate
%
Based on a
30 day month
Loan term
Months
The loan term is fixed but you can repay early at any time
The loan term is fixed but you can repay early at any time
Representative example
£ for months
%pa (fixed)
£
£
% APR

How Sunny can help

As well as the flexibility that we offer our borrowers, we make our loans as straightforward as possible. Sunny is a direct lender, so if you’re approved by us you’ll only deal with us, and we don’t charge additional fees for late repayments. On top of that there are no administration or application fees, so all you have to pay back is the amount borrowed plus interest.

  • We can have your same day loan transferred direct to your bank account in just 15 minutes once you’ve been approved.

  • We don’t charge fees - that means no application or admin costs to factor into your loan application, and no late payment fees to consider.

  • We understand that circumstances can quickly change. If you discover you don’t actually need your loan you can return it in five days* and won’t have to pay any interest.

What Sunny customers think

Our customers think we offer a great service, which is why our TrustPilot score** is so high. Check out what they have to say about borrowing money through Sunny to help you make your decision when it comes to your lender.

Looking for alternative lending options?

Same day loans can be required for a number of situations. We’ve produced a range of guides to help you decide if a Sunny loan is the right choice for you, depending on your circumstances.