SunBay Credit Loan App Review: Interest Rates, Loan Amounts, and User Experience

SunBay Credit has recently entered Nigeria’s lending market and is already making waves with thousands of downloads and a strong 4.6-star rating on Google Play. For many people in search of fast loans without stressful paperwork, this app promises quick approval, flexible repayment plans, and loan offers suitable for both personal and business needs.

But before you rush to borrow, it’s worth asking: is SunBay Credit really as good as it sounds? Let’s look at how the app works, the loan amounts available, repayment terms, interest rates, eligibility requirements, and what real users are saying about it.

What is SunBay Credit?

Launched on May 27, 2025, by Pivotaliz Innovation, SunBay Credit positions itself as one of the most reliable loan apps in Nigeria. Unlike many short-term lenders, it provides both small cash loans and large business financing, with repayment periods stretching up to two years (720 days).

A major selling point is that SunBay claims to be fully approved by the Central Bank of Nigeria (CBN) and licensed by the Federal Competition and Consumer Protection Commission (FCCPC), which gives it more credibility compared to unregulated lending apps.

How the SunBay Credit Loan Process Works

Applying for a loan through SunBay Credit is straightforward:

1. Download the app from Google Play Store.
2. Register with your mobile number and verify via OTP.
3. Provide your BVN and set a secure password.
4. Apply for your preferred loan amount.
5. The app uses AI to check your credit history linked to your BVN.
6. If approved, funds are sent directly to your bank account.

The entire process often takes just minutes, making it a good option during emergencies when you need quick cash.

Loan Amounts and Repayment

• Minimum Loan: ₦10,000
• Maximum Loan: ₦1,500,000
• First-Time Users: ₦5,000 – ₦50,000
• Returning Borrowers: Up to ₦500,000 (based on repayment history)
• Repayment Period: 90 days – 720 days

Compared to most Nigerian loan apps that give only 7–90 days, SunBay stands out by offering up to two years repayment, which is far more flexible.

SunBay Credit Interest Rates

While SunBay provides bigger loans and longer repayment, its interest rates are on the high side:

• Daily Interest: Around 0.4%
• Annual Percentage Rate (APR): 80% – 87%

For example, borrowing ₦1.5 million for 720 days at 0.4% daily interest could result in a total repayment of about ₦3.87 million. That’s more than double the original loan.

The company insists there are no hidden fees as long as you repay on time.

Eligibility Requirements

To qualify for a SunBay Credit loan, you must:

• Be a Nigerian resident aged 18–70
• Have a valid Bank Verification Number (BVN)
• Own an active Nigerian bank account
• Pass the app’s credit check, which relies on your BVN and phone data

SunBay Credit User Reviews

The app has received mostly positive ratings on Google Play:

• Users praise the fast approval process, user-friendly interface, and responsive customer service.
• The biggest complaint is the high interest rate, though borrowers confirm that the app is transparent with no hidden charges.
• Many first-time users say the loan disbursement is almost instant after approval.

Pros of SunBay Credit

• Quick loan approval and same-day disbursement
• Large loan offers up to ₦1.5 million
• Longer repayment options (up to 24 months)
• Licensed by CBN and FCCPC, making it safer than many apps
• High user rating and positive feedback

Cons of SunBay Credit

• Interest rates are very high (80%–87% APR)
• The app is still relatively new in Nigeria
• Features in-app ads
• Late repayment can damage your credit score and limit future borrowing

Final Verdict

SunBay Credit is a legit loan app in Nigeria and stands out for its flexible repayment periods and higher loan amounts. If you need emergency funds or medium-term financing and can repay on time, it’s a reliable option. However, if your focus is on low interest loans, SunBay might not be the best choice since its rates are steep. Borrowers should weigh the convenience of fast disbursement against the high repayment cost. SunBay Credit works best for those who need urgent cash loans and are confident in repaying quickly.

Frequently Asked Questions

1. Is SunBay Credit approved by CBN?
Yes, SunBay Credit is licensed by CBN and FCCPC, making it more trustworthy than unregulated loan apps.

2. How much can I borrow as a first-time user?
First-time users can borrow between ₦5,000 and ₦50,000, with loan limits increasing after successful repayments.

3. What is the repayment duration?
Borrowers can repay within 90 days to 720 days, depending on the loan offer.

4. Does SunBay Credit charge hidden fees?
No, the app does not charge hidden fees as long as you repay before the due date.

5. What’s the biggest downside of SunBay Credit?
The high interest rate, which can more than double your loan if you spread repayment over long terms.