At Sunny, we make the process of managing your loan repayments easy to follow. When your application is approved, we will give you a simple repayment schedule, so you know where you stand from the beginning. Then, we give you access to an online account area, so you can keep track of your balance and upcoming payments as well as make additional payments if you wish. We’ll also send you reminders when your payments are coming up. Every step is explained when you apply for a loan and our team are on hand to help, if needed, with any queries or concerns.
Here, we’ve broken down Sunny repayments and how everything is set up.
How do I pay back a loan from Sunny?
We will collect your payments via Continuous Payment Authority (CPA), which allows us to take your payments using the card details that you gave to us during your application. This is different to a direct debit, which comes direct from your bank account and needs to be approved by your bank before funds can be collected. Using CPA to collect your payments also means that if there isn’t enough money in your account on the day, you won’t be charged like you could be with a direct debit.
With your payment dates agreed with us up front, all that’s left for you to do is make sure that you have the funds available in your account on the day your payment is due each month, ready for us to collect from you. This means that you won’t have to make manual payments, or remember to contact us, or to log onto your account, every time you need to make a payment.
Can I cancel a CPA with Sunny?
You can cancel the Continuous Payment Authority on your account at any time. Bear in mind that you if you do this, you will need to make your payments manually using another method: using your Sunny online account, your online banking, or by calling us to make your payments over the phone on or before each due date. To cancel a CPA you should contact our customer care team, and also confirm your decision with your bank.
Am I able to change what I pay on my loan with Sunny?
Yes, you can use your online account to make your payment schedule shorter and repay your loan more quickly. This means you’ll repay less interest. You can change the regular payment to Sunny by visiting the “payment options” section of your online account, and choosing from the options available. The new amount will be taken on your next regular due date.
If you need to reduce your regular payment amounts or extend your schedule for any reason, then you will need to contact our dedicated Repayments team. They will be able to talk through the available options with you.
Can I make one-off payments with Sunny, outside of my normal schedule?
Of course. If you’d like to pay off your loan early or make an additional payment alongside your regular schedule then this is easy to do. In fact, if you do repay a little extra now and then or repay your loan early, you will save money in interest.
You can make one-off payments either through your online account or by giving our team a call. Simply log in to your account and select the loan you want to make a payment towards. You can use the card we currently have on file or add another debit card to make your payment. Any additional payments you make mean you’ll pay back less interest overall.
Will a payment show up instantly on my account?
When you make a payment, either as a scheduled payment we’ve collected automatically or an extra payment you’ve made yourself, you’ll get confirmation by email that we’ve received it. It can take up to an hour for your online account to reflect the payment you’ve just made. So, if you want to pay a bit extra after your scheduled payment has been taken, we recommend waiting until later in the day to make sure everything is up to date. Once your payment has been registered, your balance will be updated and you will be able to see the amount you have left to pay on your loan.
Need a quick loan?
If you’re looking for a loan in an emergency, we can help. With the ability to tell you how likely you are to be approved before you apply and cash transferred into your account in just 15 minutes if you are accepted, Sunny can help you get back on track.
More reading material
Looking for a little more information around Sunny and our loans? We have some more guides available to read below.