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Rating by Finanso®

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Sunbit's pay off


Repayment of loan

The repayments are automatically deposited or withdrawn according to the arranged schedule with the debit card used for down payment or another payment method submitted during the bargain.

Accepted types of payments: authorized recurring debit card or remotely created check (RCC) payments. They are made using your bank account and the routing number you provide to a company. Certain borrowers may also pay installments by check or money order.

The interest rates are different: 0% — 35.99% per annum, determined by the creditability and state of residence. Interest rates, cash amounts, and terms are lower in some states.

For instance, Colorado residents and merchant locations: 0-35.99% APR for loans of $1,000 or less; 0-20.99% APR for loans over $1,000 but not more than $3,000; 0-14.99% APR for loans over $3,000. New York residents and merchant locations: 0-15.99% APR.

Several merchants enable to use the deferred interest promotion. For example, if you deal with this exact retailer, you could avoid paying interest. In this case, you should prepay borrowed funds in full within one month of the date of the agreement. If it's not paid back by this time, the interest will accrue, and the borrower is responsible to pay it off. Also, a 3-month 0% APR plan is available for borrowers at participating businesses only.

The terms are 3 — 12 months with up to a 72-month plan for dental care. The length of the payment period depends on the customer's creditability, retailer, and state.

For example, purchase $580 with a 33% APR, $116 down payment, and a 12-month term. Monthly repayments would be $45.92, and the total cost would be $667.07. The terms may vary.

If you want to pay early, make an additional payment, manage your loan or change your payment information, use your profile at the official website, call Sunbit Customer Support at 855-678-6248 or use the mobile app. There aren't any hidden costs or prepayment penalties.

Conditions of loan extension

You can change your repayment date one time per purchase. It changes the date for every future monthly payment.

To do it, call Sunbit Customer Support at 855-678-6248.

Late payments aren't fined.

If a payment is due and you cannot pay, contact Sunbit Customer Support at 855-678-6248 to find another solution.

Early payoff

It's encouraged to pay off early, make additional repayments or settle an entire loan for free, and there are no prepayment penalties. These functions can be handled online through your personal profile or mobile app.

You can call Sunbit Customer Support at 855-678-6248 to change your payment date or amounts.

Some options help you relieve a financial burden, like deferred interest promotion. For example, if your retailer is a participant, you could prepay all the amount in 1 month after the agreement was signed and avoid paying the interest. In addition, some merchants allow you to use a 3-month 0% APR plan.


How do I make a payment on Sunbit?

Your payments are made from your debit card or another payment method specified during the bargain. For example, it may be a recurring debit card, a remotely created check (RCC) payment, or a check or money order (up to the merchant).

You could manage your payments online using your personal profile or mobile app.

What happens if you don't pay back Sunbit?

You can change your due date one time per purchase for all further monthly payments. If the time is due and you have no money to pay off, extraordinary circumstances, such as job loss, death in the family, or you are in a hospital, and the customer service will help you find a solution.

Call Customer care at 855-678-6248.

It's important to emphasize that information about all payments — late and missed — is reported to the consumer reporting agency and may influence your credit history.

There is no specific information, but as loans are provided by Transportation Alliance Bank, Inc., dba TAB Bank, all uncollected debts are prosecuted to the fullest extent of the law.

Can you pay Sunbit early?

Yes, you can. You could make early or additional payments or pay off an entire loan at any time penalty-free.

Just use the mobile app, your personal profile at the website, or call Sunbit customer care at 855-678-6248.

Can Sunbit sue you?

There is no specific information, but loans are offered by Transportation Alliance Bank, Inc., dba TAB Bank, so all uncollected debts are prosecuted to the fullest extent of the law and definitely could be recovered in a court.

Borrow responsibly: review the requirements in advance, and look through all payments and terms of borrowing before signing an agreement and finalizing a purchase. You should understand whether Sunbit technology answers your financial needs.

Calculate loan payments in Sunbit

Sunbit calculator will allow you to calculate an approximate payment schedule for the loan

Loan amount

Enter the desired loan amount

50 $
20000 $
Loan term

Specify the loan term for the calculation


What to focus on before applying for a loan with Sunbit

To ensure the lender is legitimate, check if it meets the following criteria:

How do you know if a loan company is registered?

The lending company is registered with the US Securities and Exchange Commission (SEC) and has a tax identification number (EIN). Note that tribal lending companies operate under the jurisdiction of tribal laws, and they don't have to register with the SEC. But still, tribes must act under federal consumer protection laws enforced by the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC).

According to the FTC requirement, the lending company is registered in your state, excluding tribal lenders abiding by tribal and federal laws only. That is why tribal lending companies can charge interest rates exceeding your state's maximum.

Finally, the State Attorney General can verify the registration of the lending company if you need additional proof of whether it is legitimate.

If a US lending company scams you, please report to local law enforcement, your state attorney general, CFPB, or FTC.

Finanso® also recommends

Learn the total cost of a loan, including:

It will be best to read a loan agreement carefully before signing it. If any part of the agreement seems incomprehensible, do not hesitate to ask the lender about particulars.

Remember that you don’t have to make an immediate decision when considering getting a loan. However, you must be sure that you are ready to repay following your loan documents. If the lender’s terms and conditions are uncomfortable for you, you are free to search for another proposal, as there are about 780 lending companies in the US.

What’s the difference between Sunbit and a bank?

  1. You need to have a good credit history to qualify for a credit card with a bank. In contrast, even bad credit history debtors can borrow money from US lenders with personal or payday loans. 
  2. Interest rates and annual percentage rate for a loan with an online lending company are significantly higher than with a credit card released by a bank.
  3. Applying for an online loan with a lending company doesn’t require paperwork or even visiting their office. Instead, a borrower can apply entirely online and receive money via direct deposit on the next business day.
  4. The online lending business is high-risk for investors, and their capital is not protected from unfair borrowers.
  5. A loan with legitimate loan companies for bad credit is a simple but expensive form of borrowing to resolve financial hardship.
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