Sunshine Loans
Get approved for $2,050 to $3,500 with no credit checks and fast 24/7 fund transfers once approved. Simple online process, establish fee applies.
Sunshine Loans is an Australian lender that provides quick cash loans ranging from $2,050 to $3,500, specifically tailored for people needing funds fast. What stands out is their no credit check policy, making them accessible for borrowers with varied credit histories.
Interest rates are capped at 48% per annum with a comparison rate of 66.2% p.a. The loan term ranges from a minimum of 63 days up to a maximum of 182 days. There’s a $400 establishment fee and a $35 fee for failed scheduled repayments. No ongoing account-keeping fees are charged.
How to Apply for Sunshine Loans
1. Start by completing a simple online application form, available 24/7.
2. Applications are reviewed quickly, with approvals processed between 7am and 7pm every day, including weekends.
3. Once approved, sign your contract electronically—no paperwork or faxes needed.
4. After signing, funds are transferred to your nominated bank account instantly, regardless of the time or day.
Pros of Sunshine Loans
The no credit check feature is a significant advantage, opening doors for those who have been previously rejected due to their credit histories. The application process is 100% online and paperless, saving time and hassle.
Another strong point is the speed: approval can happen within hours, and cash can be in your account the same day, even on weekends and after business hours.
Cons of Sunshine Loans
There is a relatively high comparison rate at 66.2% per annum, especially when compared to traditional financial institutions. The $400 establishment fee also increases the total cost of borrowing.
Additionally, new customers can only borrow up to $2,500, with higher amounts reserved for returning clients. Strict eligibility checks on your ability to repay still apply, despite the absence of credit checks.
Our Verdict
Sunshine Loans suits Aussies who need a convenient, fast and flexible solution for medium-sized cash needs and may not have traditional credit options. The quick approval process and 24/7 transfers add convenience, although the costs are higher than mainstream lenders.