Peachy Review | www.peachy.co.uk

Peachy

Last Update: November 4th, 2016

About…
Address: 76 King Street, Manchester M2 4NH.
Branding: Peachy. AKA: Peachy.co.uk Loans.
FCA Licence: 674331.
From: Cash on Go Ltd.
Launched: 2011.
Memberships: CFA.
Related: Uploan (launching soon).
Website: www.peachy.co.uk.

Product Details…
Bad Credit Peachy Loans Available?: Yes.
Manage: Peachy login provided via www.peachy.co.uk.
Offers: Payday and instalment loans.
Opening Hours: Monday to Friday (10am/6.30pm), Saturday to Sunday (9am/5.30pm).
Secure (SSL): Yes.
Sums: £50 to £700 (new and returning).
Terms: 1 to 12 months.

The Pricing…
£23.20 /£100 (30) <0.773%>
£158.60 /£300 (3) <0.587%>
£299.61 /£300 (6) <0.555%>
£500 /£500 (12) <0.274%>

Notes: There is a promo code box on the site, but no live codes. Regular monthly income required of at least £600 (some benefits may be included).

Noteworthy…
– Flexibility: A major change occurred to the product when industry capping was enforced. They opted to offer instalment terms between 15 days and a complete year. This has since been trimmed to 1 to 12 months that is still a great range.
– Operations: Since launching, customers have been able to access funds on Saturdays and Sundays.
– Profile: This brand has enjoyed swift growth over their first 5 years in operation building up more than 1.8 million customers. They have invested in TV advertising and have managed to build a strong search engine presence in Google. Their social media following (Facebook) has surpassed 28,000. The service provided has always been received well that is perhaps no surprise since the founder (Kristjan Novitski) was part of the team that launched the highly successful TxtLoan brand (MyJar).

Updates…
– 2016 updates have been made to their opening hours during the week (was 8am/8pm), the short terms have now been removed (did start from 15 days onwards) and the prices have changed. It is not clear when they changed offices, but they have now moved from London to Manchester.
– Amounts were set at £50 to £500. An increase to £700 has now been made.
– Peachy loans promo code box was removed that took out the transfer fees. Update: It has now been added again.
– Pricing was simply provided at 1% daily for interest and there was a £5 fee for fast funding. The promo code took out this charge regardless of whether the customer was new or returning. The new prices were set to match the cap over shorter terms (now a little cheaper over a month).
– Terms on the original span was 5 days to 5 months. This changed from 15 days up to a year. They are soon launching Uploan that itself is another product focussed on longer repayments.

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