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Peachy loans is a lending company based in Manchester. It is a direct lender currently offering short term loans from £50-£700. They offer multiple repayment option that gives the customers the opportunity and liberty to choose when and how they wish to repay their loan. Peachy is trying to do their best to get you the extra cash you urgently need to cover unanticipated expenses. Peachy is a certified Financial Conduct Authority (FCA) lender. They follow the CFA code of practice for lending, which safeguards and benefits you. Their loan agreements are made under the protocols of the Financial Conduct Authority. They are also registered with the Information Commissioners Office (Registration Z2642498) and comply with Data Protection Act of 1998 and the Privacy and Electronic Communications Regulations 2003.

Peachy utilizes professional lawyers and solicitors to make sure that every process and detail on their website meets the terms with the most recent recommendations and regulations of CFA as well as several other inputs on the market. This has resulted in a tremendously low rate of complaints and charge backs towards the company.

They are extremely serious about responsible lending and credit worthiness of their customers. That is why only about 2 to 5% of loan applications result in a credit being actually issued. Peachy company is committed to responsible lending and emergency short term loans and they are only offered to customers who can afford it. As a responsible lender Peachy is interested in building a long-term relationship with its clients. To help avoid financially difficult circumstances Peachy will only relend to customers who have paid back their previous loan or have taken extension to pay the interests and fees. Kindly remember Peachy loans are only meant to compensate urgent short-term financial needs. Peachy urges people to think sensibly before committing to any form of credit. It is a commitment financially and ensure you can repay on time.

How much can I borrow?
What differentiates Peachy from other lenders is that they offer multiple repayment option to best suit the customer’s needs. You can loan from £50- £700 and pay it back over the period of 12 months.
Criteria Peachy looks for borrowers
UK resident and is currently residing in UK
Must be 18 years old or older
Must hold a UK bank or building society account with a valid debit card
Must have a mobile phone and an e-mail address
No users with a CCJ or CCJ’s in last 6 years can apply
Must have a monthly income of at least £600 (some benefits may be included)

How to apply
Go to Peachy’s website, on the calculator select the amount you want to borrow, from £50 to £700 and then choose how long you want it for from 1 month to 12 months. On the sign-up form, they will ask you to fill in your personal, contact, employment and financial details. They need the information for identification and to run the needed credit checks. At the end of the registration, you need to activate your account by clicking on the link that is going to be sent to your e-mail and by entering the password that was sent to your mobile to the box on the landing page. After filling all required fields, they will calculate your credit score. Within a few seconds, you will know if they will able to lend you. Please be notified that Peachy may call you to double-check some data you already gave them. This is just for your own interest and security reasons. Once approved, the money will be transferred to your bank account. It usually takes about 15 minutes, but depending on your bank in some cases it might take up to 1 hour. But keep in mind Peachy performs a credit check if your credit score is too low; they will not able to provide you with the loan you want.

When can I get my loan?
Once your application is approved it will only take 15 minutes to an hour for your money to be transferred. The office is open from Monday-Friday 10:00 am to 6:00 pm. They are able to make the transfers during those times, however if you apply after their opening times, then most likely you will receive the funds on the next morning.

How can I repay my loan?
Peachy provides 3 types of paying the loan back: by setting a deposit on the due date, by sending a text if you want to repay the loan immediately or by logging into your Peachy account and repay the debt online. If you wish to repay early Peachy does not charge you an extra fee for repaying early; instead they will decrease the daily interests from the repayment amount if you repay your loan early.

If Peachy can’t collect repayment on your promise date, they will try to contact you. If they can’t get hold of you they will try to take the amount owed from your card once again. They will also charge you a missed payment fee of £15 if you fail to repay fully the next day after your repayment date. Interest will also be continually be added to your balance. If you cannot repay your loan on time please contact them immediately.

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