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Peachy Loans @ www.peachy.co.uk
Cash on Go’s Peachy loans arrived at www.peachy.co.uk back in 2011. They have grown considerably over their first 5 years attracting over 1.8 million customers. As well as advertising on TV, this has been one of the best performing lenders in the search engines that has boosted their growth. They also like to engage with their customers on social media running various competitions. They now have 28,200+ fans on Facebook. Peachy.co.uk has remained their sole focus, but it did look like this would be joined by Uploan. There is a site built for that project, but they have not managed to get it up and running. You can subscribe to their newsletter for updates.
The product on offer did range between 15 days and 12 months. There has however been a recent update with monthly options of 1 to 12 months now being available. The amounts have remained the same that for all customers is £50 up to £700. The cost of £100 borrowed over a month is £24 whilst for £300 the instalment charges are £149.86 (3) and £294.59 (6). £500 over a year took on a £500 charge, but there is a current issue on their calculator that only provides prices up to 6 months. There is a potential saving through the Peachy promo code. We tracked down several codes, but not one of them worked.
There is a Peachy loans login equipped to the site where members can settle up early. They did process applications 7 days a week, but have now cut back to Monday to Friday (10am to 6.30pm). This lender has lots of positive reviews online and they are a member of the CFA. Great customer service and a highly flexible loan product has been their key to success. The founder (Kristjan Novitski) was also involved in the TxtLoan start-up (now MyJar) that would have benefited their early traction. We would have expected them to advertise more on TV. They haven’t been quite as aggressive in this manner than their rival Sunny has.
£24 /£100 (30)
£149.86 /£300 (3)
£294.59 /£300 (6)
£500 /£500 (12)
Data Taken from www.peachy.co.uk: February 2017.