Are you considering taking a loan with SunBay Credit? This new loan app in Nigeria has quickly gained attention with a 4.6-star rating on Google Play and hundreds of positive user reviews. It promises quick loans, long repayment options, and easy access for both personal and business needs.
In this detailed review, we will look at how SunBay Credit works, loan amounts, interest rates, eligibility, user experiences, and whether it is truly worth trying in 2025.
What is SunBay Credit?
SunBay Credit is one of the loan applications launched on May 27, 2025, by Pivotaliz Innovation. It offers both short-term and long-term loans, ranging from ₦10,000 to ₦1.5 million, with repayment terms extending up to 720 days (two years).
One of the key things that makes SunBay stand out is its claim of being approved by the Central Bank of Nigeria (CBN) and licensed by the Federal Competition and Consumer Protection Commission (FCCPC).
How Does SunBay Credit Work?
The application process is simple and similar to other instant loan apps:
- Download the SunBay Credit app from the Google Play Store.
- Register with your mobile number and confirm using an OTP code.
- Provide your Bank Verification Number (BVN) and set a secure password.
- Apply for a loan through the app.
- SunBay Credit uses AI technology and your BVN credit history to review your application.
- If approved, the money is deposited directly into your bank account.
The review process usually takes just a few minutes, making it a convenient option for emergency borrowing.
See Also: 30 Best Loan App in Nigeria 2025 Review
Loan Amounts and Repayment Terms
- Loan Range: ₦10,000 to ₦1,500,000
- First-Time Borrowers: ₦5,000 to ₦50,000
- Returning Users: Up to ₦500,000 depending on repayment history
- Repayment Period: 90 days to 720 days
Compared to many loan apps in Nigeria that only offer short repayment terms of 7 to 90 days, SunBay Credit provides more flexible repayment options of up to two years.
See Also: Best Loan Apps Without Face Verification in Nigeria 2025
SunBay Credit Interest Rates
Interest rates are one of the most important things to check before borrowing.
- Daily interest: About 0.4 percent
- Annual Percentage Rate (APR): 80 percent–87 percent
Example: If you borrow ₦1,500,000 for 720 days at 0.4 percent daily interest, you would repay approximately ₦3.87 million in total. This shows that SunBay loans can be very expensive if used for long-term borrowing.
The company claims there are no hidden charges or processing fees as long as you repay on time.
Who is Eligible to Apply?
To qualify for a loan on SunBay Credit, you must:
- Be a Nigerian resident between 18 and 70 years old
- Have a valid BVN
- Maintain an active Nigerian bank account
- Pass the app’s creditworthiness check, which uses BVN and phone data
User Reviews and Ratings
On the Google Play Store, SunBay Credit has maintained a strong rating of 4.6 out of 5 stars from more than 570 reviews.
- Many users describe it as a fast, clean, and user-friendly app.
- Borrowers praise the quick loan approval process and responsive customer support.
- A common complaint is the very high interest rate, but most users agree that the app has no hidden fees.
Pros of SunBay Credit
- Quick loan approval and disbursement within minutes
- Higher loan amounts compared to many other apps (up to ₦1.5 million)
- Flexible repayment options of up to 24 months
- Licensed and regulated by CBN and FCCPC
- Positive user feedback on Google Play
Cons of SunBay Credit
- Interest rates are extremely high (80–87 percent APR).
- The app is still very new in the market (launched May 2025).
- Contains in-app ads
- Missing repayment deadlines could affect your credit history and future borrowing power.
Disclaimer: This review is for informational purposes only. Loan terms may change, so always read terms and condition carefully before borrowing.
Final Verdict
SunBay Credit is a legitimate loan app in Nigeria, approved by CBN and licensed by FCCPC, which makes it a safer option compared to many unregulated lending platforms.
The app is simple to use and offers higher loan amounts with longer repayment periods than most competitors. However, it comes with a high interest rate, and borrowers should be cautious.
If you need emergency funds and can repay on time, SunBay Credit is worth considering in 2025. But if you are looking for low-interest loans, you can try these alternatives: Loan Apps with Low Interest Rates in Nigeria 2025
Frequently Asked Questions (FAQ)
1. Is SunBay Credit approved by CBN?
SunBay Credit is CBN-approved and also licensed by the FCCPC, which regulates loan apps in Nigeria.
2. Does SunBay Credit have hidden charges?
The app claims that it does not charge hidden fees or processing fees if you repay your loan on time.
3. How much can I borrow on SunBay Credit as a first-time user?
You can borrow from ₦5,000 to ₦50,000. The amounts will increase as you repay your loan.
4. How long is the repayment period?
Repayment ranges from 90 days up to 720 days (two years).
5. What is the main disadvantage of SunBay Credit?
The main downside is the very high interest rate, which can more than double your loan amount if you borrow for long-term repayment.
