Secure fast and convenient small loan funds through Savvy, a reliable alternative to loans like Sunshine Loans.
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Loans similar to Sunshine Loans have gained popularity as Australians seek quick and accessible ways to secure funds. While Sunshine Loans and similar options are well-known, it's crucial to recognise the importance of exploring alternatives. Savvy can guide you through understanding loans like Sunshine Loans and similar choices, allowing you to compare them with the straightforward process of applying for a fast loan through us today!
Sunshine Loans is a lender which specialises in providing small loans designed to meet the immediate financial needs of borrowers. These loans, also known as MACC loans, come with amounts ranging from $2,050 to $2,500, although your actual borrowing capacity is influenced by factors such as your income, financial history, and existing debts, as well as the lender you decide to go with. The structure of these loans is based around both interest and fees, as is the case with many other loan types.
The application and approval process is tailored for speed, often resulting in same-day approval, and funds may be disbursed within the hour. Borrowers have the flexibility to choose repayment terms spanning from 63 to 140 days.
For loans like Sunshine Loans, the fees and interest structure are linked to the chosen loan size. Loans up to $2,000 (which aren’t offered by Sunshine loans) involve an initial establishment fee, capped at 20% of the loan amount, and ongoing monthly fees that may go as high as 4% of the loan. Larger loans, ranging from $2,001 to $5,000, have an establishment fee, capped at $400, and an annual interest rate that might reach up to 48% p.a. (which is the rate charged by Sunshine Loans as of January 22, 2024).
Having an idea of the implications of these fees is essential for evaluating the overall cost of your loan. For instance, borrowing $500 and repaying it over four fortnights could result in total fees of $140, but opting for a $2,000 loan extended over 13 fortnights would incur increased fees, totalling $880. However, applying for a $2,500, 12-month loan through Sunshine Loans and paying it off monthly would result in an establishment fee of $400 and interest of $898.
If you’re searching for a loan like Sunshine Loans but want another option, look no further than a small loan through Savvy. Our platform efficiently connects you with reputable lenders, each of whom offer fast cash solutions ranging from as little as $2,050 up to $5,000. The application process is a seamless, online one which can provide an instant outcome in just 60 seconds. If you’re conditionally approved, formal approval can be a quick process and your funds may be sent as soon as one hour after you apply, depending on your lender and bank's processing times. Take the first step with us today for a stress-free way to access the funds you need!
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Disclaimer:
The information on this website is of general nature and does not take into consideration your objectives, financial situation or needs.
For loans between $2,050 and $5,000, the APR is between 21.24% (minimum) and 48% (maximum) per annum. Comparison rate of 65.4962%. Minimum term is 16 days and maximum term is 24 months. The cost of the loan is a $400 establishment fee and monthly interest charged on the amount borrowed. For example, a loan of $3,000 over 3 months with an APR of 48%, (comparison rate of 65.4962%), will have an establishment fee of $400, monthly repayments of $1,225.20. Total repayments of $3,675.60 and total interest payment of $275.60.
Warning: A comparison rate indicates the true cost of a loan. Comparison rates are true only for the examples provided and may not include all fees and charges. Different terms, fees or loan amounts might result in a different comparison rate.
Quantum Savvy Pty Ltd (ABN 78 660 493 194) trades as Savvy and operates as an Authorised Credit Representative 541339 of Australian Credit Licence 414426 (AFAS Group Pty Ltd, ABN 12 134 138 686). We are one of Australia’s leading financial comparison sites and have been helping Australians make savvy decisions when it comes to their money for over a decade.
We’re partnered with lenders, insurers and other financial institutions who compensate us for business initiated through our website. We earn a commission each time a customer chooses or buys a product advertised on our site, which you can find out more about here, as well as in our credit guide for asset finance. It’s also crucial to read the terms and conditions, Product Disclosure Statement (PDS) or credit guide of our partners before signing up for your chosen product. However, the compensation we receive doesn’t impact the content written and published on our website, as our writing team exercises full editorial independence.
For more information about us and how we conduct our business, you can read our privacy policy and terms of use.
© Copyright 2024 Quantum Savvy Pty Ltd T/as Savvy. All Rights Reserved.
© Copyright 2024 Quantum Savvy Pty Ltd T/as Savvy. All Rights Reserved.
Quantum Savvy Pty Ltd (ABN 78 660 493 194) trades as Savvy and operates as an Authorised Credit Representative 541339 of Australian Credit Licence 414426 (AFAS Group Pty Ltd, ABN 12 134 138 686). We are one of Australia’s leading financial comparison sites and have been helping Australians make savvy decisions when it comes to their money for over a decade.
We’re partnered with lenders, insurers and other financial institutions who compensate us for business initiated through our website. We earn a commission each time a customer chooses or buys a product advertised on our site, which you can find out more about here, as well as in our credit guide for asset finance. It’s also crucial to read the terms and conditions, Product Disclosure Statement (PDS) or credit guide of our partners before signing up for your chosen product. However, the compensation we receive doesn’t impact the content written and published on our website, as our writing team exercises full editorial independence.
For more information about us and how we conduct our business, you can read our privacy policy and terms of use.
