Pay for your bond, get a payday advance or find quick cash – all with a no credit check loan from Sunshine Loans.
Do you need quick access to financing? Sunshine Loans may be the short term lender you've been looking for. They offer small loans with an easy-to-understand fee structure that you're able to repay in line with when you get paid. If you're in search of an easy financing solution, consider what Sunshine Loans has to offer.
|Product Name||Sunshine Short Term Loans|
|Min Loan Amount||$150|
|Max. Loan Amount||$2,000|
|Initial Maximum Loan Amount||$1,200|
|Loan Term||9 weeks|
|Turnaround Time||30 Minutes - conditions apply|
|Total Cost of Borrowing $100||20% of loan amount + 4% of loan amount each month|
|Requirements||You must be employed to be able to apply for a loan with Sunshine Loan Centres.|
|Available to Centrelink borrowers||No|
- Fast approval
- Flexible repayments
- No Credit Checks
- High repayment amounts
- Arrears fee of $30 per week
- Can be expensive to borrow small amounts of money
What do you need to know before borrowing from Sunshine Loans
Apply for between $150 and $2,000 and repay it over one to four installments, depending on the frequency of your pay. Sunshine Loans centre provide a quick turnaround with their loans and can offer solutions for those with negative marks on their credit file. Check the eligibility criteria at the bottom of this page to see if you're eligible.
Five important features to consider
- Loan amount. You can borrow between $150 and $2,000.
- Turnaround time. If you apply on a weekday, your loan can be processed quickly and you can see your loan amount arrive in your account on the same day.
- Loan purpose. What do you need the loan for? A Sunshine Loans payday loan can be used to finance a range of things, from shortfalls in your cash to unforeseen medical expenses, car repairs, large purchases or even rental bond.
- Credit history check. Sunshine Loans will generally conduct a credit history check, but you can still be approved with bad credit.
- Repaying your loan. Your repayment structure will depend on the frequency at which you get paid. For instance, if you get paid weekly, Sunshine Loans will organise your repayments to be spread over three to four installments to ensure it's manageable. If you are paid fortnightly or monthly, your repayments will be structured across one or two repayments. Repayments are generally made via a direct debit, but you can also make manual payments via BPAY, bank transfer or by making a bank deposit.
How much will a Sunshine Loan cost?
It's important to check your loan contract to see your repayments structure and ensure you will be able to manage your loan. Below is an outline of Sunshine Loans fee structure:
- Establishment fee: 20% of the amount borrowed
- Monthly fee: 4% of the amount borrowed
If you fail to make your repayments on time you may be charged other fees. These can include:
- Late payment/rescheduling payment fee: $35
- Account arrears fee: $30 per week after loan completion date
How you can apply
If you're looking to borrow between $150 and $2,000, you can click "Go to Site" to get your Sunshine Loans application started. First, check if you're eligible:
- You must be employed
- You need to earn at least $450 per week
- You have to satisfy that you can afford your repayments on your current budget
- You can't have any major unpaid defaults with other lenders
Information you need to provide
- Personal details. Your name, date of birth, driver's licence number and contact information is required.
- Employment information. You'll need to list your employer's name and contact details.
- Financial information. Your income and expenses, including your wages (after-tax), pension and rent or mortgage are required.
- Loan purpose. The amount you're looking to borrow as well as the purpose is required in your application.
- Primary bank account details. Sunshine Loans needs the name of your bank, your account name, BSB number and account number.
Warning about Borrowing
It can be expensive to borrow small amounts of money and borrowing may not solve your money problems.
Check your options before you borrow:
- For information about other options for managing bills and debts, ring 1800 007 007 from anywhere in Australia to talk to a free and independent financial counsellor
- Talk to your electricity, gas, phone or water provider to see if you can work out a payment plan
- If you are on government benefits, ask if you can receive an advance from Centrelink: Phone: 13 17 94
The Government's MoneySmart website shows you how small amount loans work and suggests other options that may help you.
* This statement is an Australian Government requirement under the National Consumer Credit Protection Act 2009.