How to apply for Sunshine Payday Loans?
In less than 5 minutes, this step-by-step guide will show you how to fill out the application form directly on the Sunshine Loans website.
Get Familiar with Sunshine Loans’ Application Process
When you find yourself in need of low-value, short-term consigned loans to cover an emergency expense, look no further than Sunshine Loans. Operating as a microcredit company in South Africa, this financial service provider has received accreditation by the NCR, the credit regulatory authority in the country.
Through Sunshine Loans’ 100% online process, customers can request consigned loans ranging from R500 to R4,000 with repayment periods of 4 days to 7 weeks. These funds can be utilized for various day-to-day activities.
Approval with Sunshine Loans is a quick process, taking an average of 60 minutes. Once approved, the money is deposited into the borrower’s account on the same or next business day, depending on the availability of the bank.
Are you interested in learning more about the application process with Sunshine? Read on to find out.
Who Can Apply for a Loan?
Applying for a loan with Sunshine Loans is a straightforward process, with minimal requirements.
To qualify for a loan, applicants must:
- Be a resident of South Africa, whether a citizen or a foreigner with valid work or long-term residence authorization.
- Be over 18 years old and employed, with a regular income flow. This type of loan is designed to provide funds until the next payment date, making steady employment a requirement. However, individuals receiving government benefits are also eligible, as it qualifies as a regular income stream.
- Sunshine Loans also offers credit to individuals with a negative credit history since the company assesses the present circumstances of the applicant when making loan decisions.
The Application Process at Sunshine Loans
Sunshine Loans operates exclusively online, with no physical branches. The application process must be completed through their digital platform. Applicants can make inquiries or seek customer support through the provided phone line, but loan requests must be made online.
The application itself takes less than 5 minutes and requires inputting the loan amount, repayment term, and the following information:
- South African identification number
- Mobile number for SMS notifications
- Bank details for the account where the salary or benefit is received
- Purpose of the loan
Sunshine Loans mentions that a credit check will be conducted during the application process. However, the company emphasizes that the applicant’s income conditions at the time of application are more crucial.
Once the application is submitted, Sunshine promises to conduct the credit check within 60 minutes and provide a swift response. If the application is submitted during business hours, the money can be directly deposited into the borrower’s account on the same day. If it’s outside business hours or on a non-business day, the funds will be deposited on the next business day.
Repayments are made through direct debit from the borrower’s account, following the terms outlined in the loan contract.
Considering Other Lenders?
Blink Finance is a payday loan company similar to Sunshine Loans, offering loans up to R8,000 based on recurrent platform usage. If you believe Blink Finance may better suit your needs, it’s worth exploring their brand further.
