Peachy

Peachy loans review

Peachy provides quick and versatile loans of up to £1000 over terms from 1-12 months.

Manchester-based Peachy.co.uk is a direct, secure lender, authorised and regulated by the Financial Conduct Authority.

Peachy loans are different to traditional “payday” lending, where you would borrow over a very short period of time, and make a single repayment on your payday. With a Peachy loan, borrowers make a repayment each month, which pays off part of the capital (the original amount borrowed) as well as the interest accrued so far.

warning icon Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk.

warning icon Please note: High cost short term credit is unsuitable to support sustained borrowing over long periods and would be expensive as a means of longer term borrowing.

Peachy Peachy

£5 off the interest of an approved loan

Representative example: Borrow £400 for 6 months at a rate of 259.33% p.a. (fixed). Representative APR 947% and total payable: £750.78 in 6 monthly payments of £125.13.

Last verified

Key features of a Peachy loan:

  • Loans of £100-£1000. The amount you’re able to borrow will depend on your personal circumstances.
  • Borrow over 15 days – 12 months. Make monthly payments, and repay early at any time.
  • Simple 4-step application. Fill in your personal, contact, employment and financial details.
  • Access funds quickly. Once approved loans are typically paid within 1 hour.
  • Repay early at any time. This could save you money in interest.
  • Late repayment fee of £15.

Estimate and compare the cost of your Peachy loan

As well as comparing short-term loans with other types of credit, before you apply for a loan, it’s a good idea to shop around and compare a range of lenders. You can use the table below to get an idea of how much the loan that you have in mind might cost, both with Peachy and a selection of other popular payday/short-term lenders.

How much money do you need to borrow?


How long do you need to borrow over?


Name Product Available Amounts Monthly repayment Total payable
£50 to £800
Representative example: Borrow £200 for 6 months at a rate of 292% p.a. (fixed). Representative 1333% APR and total payable £386.61 in 6 monthly payments of £64.44.
£300 to £800
Representative example: Borrow £400 for 4 months at a rate of 255.5% p.a. (fixed). Representative APR 939.5% and total payable: £597.48 in 4 payments of £149.37.
£150 to £5,000
Representative Example: Borrow £350 for 6 months at a rate of 220% p.a. (fixed). Representative 651.4% APR and total payable £605.55 in 6 monthly payments of £100.93.
£100 to £1,000
Representative example: Borrow £400 for 6 months at a rate of 259.33% p.a. (fixed). Representative APR 947% and total payable: £750.78 in 6 monthly payments of £125.13.
£50 to £1,000
Representative example: Borrow £250 for 74 days at a rate of 292% p.a. (fixed). Representative APR 1300.5% and total payable: £398.00, in 1 payment of £74.00 and 1 payment of £324.00.
£300 to £1,000
Representative example: Borrow £500 for 5 months at a rate of 292% p.a. (fixed). Representative APR 1,297% and total payable: £867.05 in 5 instalments of £173.41.
£100 to £1,000
Representative example: Borrow £480 for 9 months at a rate of 133.1% p.a. (fixed). Representative 535% APR and total payable £959.04 in 9 monthly payments of £106.56.
£50 to £200
Representative example: Borrow £80 for 29 days at a rate of 292% p.a. (fixed). Representative APR 1281.8% and total payable: £98.56, in 1 payment of £98.56.

Compare up to 4 providers

Important information:
You should always refer to your loan agreement for exact repayment amounts as they may vary from our results.

We compare payday/short-term loans from

Lending Stream Instalment Loan
Moneyboat Short Term Loan
On Stride Personal Loan
Peachy Loan
QuickQuid Short Term Loan
QuidMarket Short Term Loan
Satsuma Short Term Loan
247Moneybox Payday Loan

Is high-cost, short-term borrowing a good idea?

Payday loans, and high-cost, short-term credit are a very expensive method of borrowing and should only be considered as a last resort. They may not solve your money problems, and are not a good idea for borrowing over longer periods, or for sustained borrowing.

Before you apply for a payday or short-term loan, make sure you’ve considered other options. Is the expenditure that you’re planning absolutely essential? If you can defer a purchase then you could save yourself money in the long run. If you’re struggling to pay a bill, then why not talk to your electricity, gas, phone or water provider to see if you can work out a payment plan? Read more about alternatives to payday loans at moneyadviceservice.org.uk.

How does a short term loan from Peachy work?

The first phase of your application is to decided on the size of your loan and the number of instalments you wish to pay your loan back in. Following this you’ll be redirected to a sign-up form. Here you’ll have to complete 4 simple steps providing personal, contact, employment and financial details.

Peachy will then calculate your credit score and within seconds should be able to determine if you’re eligible for a loan and the size of that loan. You may be called at this point to double check some data. Once approved your loan should be credited within 15 minutes, but this can take up to an hour.

Your loan can be repaid in two ways:

  • Peachy use a Continuous Payment Authority (CPA) to collect your repayments on the due date you choose to repay your loan.
  • You make a bank transfer to Peachy

If Peachy is unable to collect your repayment on your chosen date, they’ll contact you. If you fail to make the payment on this date you’ll be charged a fee of £15.

What is a Continuous Payment Authority (CPA)?

A CPA is a recurring payment in which you give a company permission to withdraw money from your account on a regular basis.

CPA’s differ from direct debits because they give the company being paid the ability to withdraw money from your account whenever they wish, and to take payments of different amounts without consulting you. Most payday loan companies will use CPA’s to collect your repayments.

You can cancel a CPA at any point by either consulting with your provider or your bank, but remember that you’ll need to make alternative arrangements to meet your repayments.

What are the eligibility requirements?

You should only apply for a Peachy loan if you’re certain you will be able to make the repayments, and you meet the following criteria:

  • UK resident
  • 18 years or older
  • Hold a UK bank or building society account with a valid debit card
  • Have a working mobile phone & email address
  • No users with a CCJ or CCJs in last 6 years can apply
  • Must have regular monthly income of at least £600 (some benefits may be included)

How do I apply for a loan from Peachy?

  1. Use the calculator on Peachy’s home page to decide on the size of your loan and the amount you wish to borrow.
  2. Fill out your personal, contact, employment and financial details.
  3. Once approved, choose from the loan options provided.
  4. Receive your loan in as little as 15 minutes.

Additional Borrowing Options

  • Extensions: It is possible to apply for an extension. To do so simply login into your online account or text EXTEND to 68899. There is no guarantee your loan will be extended. Peachy will make that decision to ensure they’re lending responsibly. Remember payday loans are only to help with unexpected short-term financial difficulties.
  • Top-Ups: Currently Peachy do not provide top-ups.
  • Multiple loans You can only apply for a new loan after repaying your outstanding loan.

Did you know?

In 2015 the Financial Conduct authority (FCA) capped interest and fees on all high-cost short-term credit loans at 0.8% per day.

They additionally capped all default charges at £15 and the total cost (interest, fees) of loans at 100% of the original sum. This means you’ll never have to pay more than double the amount borrowed.

Frequently Asked Questions

Back to top

*Disclaimer: The offers compared on this page are chosen from a range of products whose details Finder has access to track; they don't represent all the products available in the market. Unless indicated otherwise, products are displayed in no particular order or ranking. The terms "best", "top", "cheap" (and variations) are not product ratings and are subject to our terms of use. You should consider seeking independent financial advice and consider your personal financial circumstances when comparing products.

Was this content helpful to you? No  Yes
Go to site