How our loans work
Flexibility and control
Sunny loans are uniquely designed to give you more flexibility and control than other loans. Here’s how they work:
What’s a Sunny loan?
Sunny offers fixed sum instalment loans from 100 to 2,500. We will assess whether you can afford to repay the amount requested, and the terms and interest rates will vary according to the loan amount approved.
Please remember, Sunny is a high-cost, short term credit provider – which means this credit is expensive and is unsuitable for supporting sustained borrowing over long periods.
How is it flexible?
Each Sunny instalment loan is for a fixed term but at any time you can choose a flexible overpayment plan, which allows you to pay early in part, or in full saving you money on interest.
If you don’t want to request to make regular overpayments you can make one-off, additional payments at any time via your online account.
We always recommend you repay the most you can afford as soon as possible to save on interest.
Is the rate capped?
Each instalment loan meets the FCA rate cap requirements. This means you will never pay more than 0.8% interest per day and never pay back in interest more than the original amount borrowed.
Applying is easy
A decision in minutes
Our easy-to-follow online application allows you to request the cash you need when you most need it – and get a decision within minutes. Then if approved, cash is sent to your bank within 15 minutes.
5-day cooling-off period
We’re happy to give you 5 days to change your mind. No questions asked. Just call our customer care team to return the amount you borrowed and we won’t charge you a penny. All we ask is that you stick to our reasonable usage cap of once a month.
How to pay us back
Repay via your debit card.
Due dates will be set to your pay dates. Just make sure funds are available in your bank account; we’ll do the rest. Learn more about how we collect repayments.
If you find that you have a little extra cash each month and you wish to pay off your loan more quickly, you can make additional payments at any time by logging into the Payments Options of your online account. This will mean you save money in interest.
You can also request us to take regular overpayments by choosing a flexible overpayment plan. This allows you to pay more each month and pay your loan off early. Again, this will save you money on interest.