What sort loans are available?
Loans valued between £100 and £1,000 can be applied for by first-time customers.
How long do you have to repay?
If successful with your application you have the option to repay across a 1 to 12 month period.
What are Peachy’s interest rates?
Peachy’s representative APR is 855.85%.
Applying this APR to a loan of £400 with a fixed annual interest rate of 248.37% paid across 6 months, would require you to repay 6 monthly instalments of £122.37 for a total of £734.23.
Can you repay a Peachy loan early?
To repay a Peachy loan early you can contact the customer service team by phone or email (full details below). Peachy state they do not charge anything extra for repaying your loan early.
Do they charge late payment fees?
You will be charged an extra £15 if your monthly instalment date is not met.
How quickly will they transfer the money?
Peachy state they will transfer the money as soon as the loan has been agreed, although it may take between 15 minutes to 2 hours to clear in your account, depending on your bank.
Is there a Peachy app?
You can download the Peachy loans app on Google Play or the iTunes store, which allows you to track instalment schedules and make repayments.
How can you apply for a Peachy loan?
To ensure you are fully eligible to apply for a Peachy loan, make sure you are:
- At least 18-years-old
- A UK resident
- Receiving at least £600 of income each month
- The owner of a UK bank with connected debit card
- Able to provide a working email address and mobile phone number
- Not proven to have a current or previous CCJ within the past 6 years
The online process for a Peachy process is straightforward. You will be asked to supply contact, personal, employment and financial details to verify certain aspects of your application. The decision will be provided almost immediately as soon as all the required information has been provided.
Are Peachy FCA regulated?
You can visit the FCA register page for Cash On Go Ltd, where you will find Peachy Loans as one of the company’s trading names. They have been authorised by the FCA since 17/02/2016.
How do you contact Peachy customer services?
Use the phone number 0800 012 4743 between 8am and 8pm Monday to Friday and between 10am to 6pm Saturday and Sunday.
Or you can email the customer service team at info@peachy.co.uk.
Do Peachy have social media handles?
Twitter: @PeachyLoans
What sort of customer reviews are there for Peachy?
Peachy reviews on Trustpilot are good, with a ‘Great’ rating of 4.2/5 based on 1,833 reviews, as of February 2020.
Peachy Summary
Peachy are a direct lender who offer loans of between £100 and £1,000. Loan terms range between 1-12 months and the representative APR is 855.85%.
Customers will be charged £15 for a late payment, and loans can be repaid early without any extra charge. It will take between 15 minutes and 2 hours for funds to clear in your account once the loan has been transferred.
To apply for a Peachy Loan they ask that you:
- Are 18-years-old or older
- Currently in the UK
- Take home a minimum of £600 per month
- Own a full bank account and linked debit card
- Own a UK phone number and an email address
- Have not been given a CCJ in the past 6 years
To manage your loan you can use the Peachy app or the online account you are provided with.
Peachy are regulated by the FCA and have a customer rating of 4.2/5 on Trustpilot.
FAQs
Drafty is an FCA-authorised direct lender which is still lending. Peachy Loans was also an FCA-authorised direct lender. Peachy closed its lending services and went into administration after many customers' affordability complaints. However, in 2022, they relaunched their services as a credit broker.
How to get a loan when no one will approve you? ›
If you struggle to get approved for a personal loan or need a loan in a hurry, products like emergency loan and payday loans may be appealing. All may come with higher interest rates and shorter repayment timelines than a standard personal loan.
What are the easiest loans to get quick? ›
The easiest types of loans to get approved for don't require a credit check and include payday loans, car title loans and pawnshop loans — but they're also highly predatory due to outrageously high interest rates and fees.
What is the easiest tribal loan to get? ›
1. LendGeeks.com. LendGeeks.com is a reputable tribal lender known for its transparent terms and straightforward application process. They offer short-term installment loans ranging from $100 to $5,000, providing borrowers with repayment flexibility.
Who is Green Arrow loans? ›
Green Arrow is a tribal lender owned and operated by the Big Valley Band of Pomo Indians. It offers small personal loans, with loan amounts ranging from $200 to $1,000. But the annual percentage rate, or APR, can be extremely high — even higher than the APR on a typical payday loan.
What is Fiona personal loans? ›
Fiona is a service you can use to search for providers of personal loans up to $250,000, as well as savings accounts, student loan refinancing and more.
What is a hardship loan? ›
A hardship loan is a loan to cover an unexpected financial shortfall, either because your expenses went up or your income went down. Hardship loans are not like other loans that are designed to meet an expected or planned need (like a car loan or a business expansion loan).
Who will lend me money when no one else will? ›
Fair Finance is a direct lender. This means there is no middle man involved, such as a credit broker, agent or financial advisor. If you want to take out a personal loan with us, you apply to us directly. We then make the lending decision without needing to involve anyone else.
Can I borrow money with a 500 credit score? ›
However, borrowers with 500 credit scores will have a better chance of approval with the following loan types: Secured personal loans: Secured personal loans require you to pledge collateral, such as a vehicle, savings account, collectible, piece of jewelry, or even the fixtures in your home.
What is the easiest loan to get approved for right now? ›
Some of the easiest loans to get approved for if you have bad credit include payday loans, no-credit-check loans, and pawnshop loans. Personal loans with essentially no approval requirements typically charge the highest interest rates and loan fees.
Payday and pawn shop loans can be the easiest to get approved for. But their repayment terms can bring difficulties. Borrowers with a lower credit score can sometimes still get approved for a personal loan, but it may come with a high interest rate.
Which type of loan does not require a credit check? ›
Payday loans are a type of unsecured loan where lenders don't typically check credit. These loans tend to be small, usually a $500 loan amount or less (although some lenders might offer more), but come with strict repayment terms.
Is Minto money legit? ›
Minto Money is a tribal lending institution that offers small personal loans between $100 to $3,000. The lender is based in the Native Village of Minto in Alaska, and as a tribal lending institution, is subject only to federal consumer finance laws, and not state laws.
Is Tinxa Finance legit? ›
Tinxa Finance ® is a tribal lending enterprise and governmental instrumentality wholly owned by the Modoc Nation, a federally recognized Indian tribe.
Is Spotloan a tribal loan? ›
Spotloan is owned and operated by The Turtle Mountain Band of Chippewa Indians. Learn how choosing Spotloan drives major economic growth in our community. “Life saver..
Who owns peachy loans? ›
Peachy Loans, which was owned by Cash on Go was a direct lender from 2010 to 2020. In 2020, Peachy Loans stopped lending.
What happened to the payday loan? ›
The impact of the FCA rules on the payday loan industry
The new rules included: A price cap on high cost short-term credit (HCSTC) Limits on how many times a payday loan could roll over. Stronger guidance on affordability checks and financial health warnings.
Have Satsuma loans gone into administration? ›
In 2021, Satsuma Loans went into administration.
This meant they were no longer offering loans to new or existing customers. At that time, the company implemented a scheme of arrangement to assess and pay compensation claims related to unaffordable lending.
Did lending Club shut down? ›
In August 2020, the company discontinued its secondary trading platform, hosted by Folio, reducing liquidity for existing peer-to-peer investors. In October 2020, the company ceased all new loan accounts on their website as part of restructuring into a neobank after the acquisition of Radius Bank.
