About Satsuma Loans

Satsuma Loans are easy to get short term loans that provide for your basic requirements. They range from about £100 being the minimum to about £1000 being the maximum if you’re a first-time borrower however if you take up a loan the next time you can take up to £2,000 over a period of 3 months to 12 months.

The numerous benefits to these loans make them so much faster and uncomplicated to apply for. You can apply for their application easily online which means that you can do it anywhere you have access to the internet.

Satsuma Loans understand that occasionally everyone is in need of some extra cash with the increasing inflation and it wants to make its customers be able to get exactly what they are looking for whatever their purpose may be.

They offer another unique service to find out of your approval without even applying making it so much more convenient and cooperative to work with. They won’t waste your time, filling out multiple forms and paperwork that will take days to return only to have you disappointed. They work much quicker, and you may even be able to get your money in case of being approved within a couple of hours.

Unlike every other lender company that offers loans for a period that you can repay instalments for, they always have additional on charges in case you struggle to repay on time.

But as for Satsuma Loans that is one condition you will never have to worry about, all the charges are up front to you in the beginning of the loan agreement therefore giving you complete rest of mind that even if you struggle to repay they won’t add on to the pile.

Do remember to talk to them, they will understand and come to terms and help you find alternatives to your problem.

How To Apply For A Satsuma Loan?

Visit their website, and its benefits that you do a Smartcheck beforehand to know if your eligible for applying this is only a momentary process perhaps may even take up to a minute or two so don’t be alarmed.

It will consult you regarding a few details making sure you are capable and financially stable, affordability and just the basics. If you get approval then it’s one step closer to getting your money, simply choose which loan you want to opt for, the amount and for how many months you want to take the loan for.

Repayments

They give you the option for monthly or weekly repayments and be straightforward about the entire procedures cost with you giving you 100% authenticity and reliability with your loan agreement.

If you have done a Smartcheck, then they will proceed your credit check, and you would be done all you would wait on is the money.

However, if you want to apply from scratch then there will be a very short application form that you can fill out, and you will be given an almost instant decision. In these cases, they will require you to provide information such as your bank details, address history, contact number, credit history and your monthly or yearly income and expenditure.

Next Steps

The next step of getting your money, which takes up to an hour at best if you have been approved within 6 am -11 pm and will have a Continuous Payment Authority set up to ensure the collection of repayments.

They even have an application for your mobile phones to keep track of your loan agreement, repayments, credit and be updated with notifications and alerts when necessary.

Your loan agreement would nevertheless be emailed to you as well. If you have any difficulty with your repayments, it is suggested to contact their customer care service immediately on their number 0800 694 0004 which even has free calling service available from most landlines or call 0330 303 2000.

Pros

  • Quickest and easiest way to apply for a short term loan, as it gives you your money within an hour of your application acceptance.
  • Easy to use website that lets you fill out your details as conveniently to apply.
  • Get almost instant approval through their Smartcheck and get an answer before you even apply.
  • No hidden or additional charges on any missed repayments or late payment fee.
  • A great range of loans available from Guarantor loans, Cash loans, Personal loans, Cheap loans, Same day loans, Payday loans, Bad credit loans etc
  • Great customer care service to help their customers as much as they can in any of their concerns regarding their loan process and guide you through it.

Cons

  • Only UK based limiting its customers
  • Repayments cannot be made using a credit card; however, debit cards are accepted as part of their CPA policy.

Eligibility Criteria

Their eligibility criteria are very unexceptional and limited to almost very basic requirements, such as:

  • Being of at least 18 years of age confirming the legal age to have the right and consent for themselves to be responsible for their actions.
  • UK residents only, to ensure that they can track their customers if need be and they can keep it as security for their loan to ensure there is no fraud or fleeing from the country.
  • Must have a bank account credit or debit and can prove their income or earning.

Additional Information

Similarly, as most other banks do, they use ‘Credit Scoring’ to enable them to settle on regardless of whether they can provide a loan to anybody. Furthermore, they additionally do their own checks amidst the application procedure to guarantee that they loan a sum that you can bear to repay over time.

How Long Does The Application Process Take?

Applying for a loan with Satsuma is completed by finishing their online application process. This procedure involves giving information concerning your earnings and outgoings, marital status, address and so forth.

The data you give to them is then checked alongside the data in your credit answer, to give you a general score and causes them to choose that you are capable enough to almost certainly bear to make the loan repayments over the term of the advance.

Credit Checks

When they complete a credit check, they reach at least one of the credit reference organisations and request to see your credit report.

It contains your own financial record; data that has been recorded throughout the years from your different loan bosses. In your report, there will be your instalment history on things, for example, contract repayments, Credit cards, catalogue, credit records, overdrafts and also the utility bills.

They offer multiple forms of loans that you can get simply by applying.  When we look towards opting for a loan, we would prefer not to invest hours impatiently to comprehend an uncountable number of forms and procedures. We likewise would prefer not to trust that our loan applications will be prepared or even paid out in time that we want it. We need almost certainly to require a fast application process.

Progressively, we need to do it web-based, utilising our telephones or workstations. Most importantly, we need the cash in our financial balance as soon as possible this is where Satsuma Loans offer ‘Same Day Loans’ and ‘Quick Loans’ to help to get exactly what you are looking for. They even offer a Guarantor loan that lets you take up a loan even if you have a bad credit rating by getting someone who has a good credit rating to take responsibility for your loan repayments.

Basically saying, they would have to pay instead of you if you are unable to pay therefore it will make it much for feasible to give you the loan. This will also act one of their ways through their Bad credit loans.

Representative example:

£480 loan repayable over nine months. 9 monthly repayments of £106.56. Rate of interest 133.1% PA. Fixed. Representative 535% APR. Total amount payable is £959.04.

You can contact them during their working hours from 8 am to 8 pm Monday to Friday and 8:30 am to 5:00 pm on Saturday. You can even email them on [email protected] or post on Satsuma Loans – 1 Godwin Street, Bradford, BD1 2SU.

Final Verdict

There may come, a point in your life where you would like to spend some money regardless of your budget. Those once in a lifetime moments such as a wedding, your first born child or even for yourself any requirements could make it necessary for some people to need a little more cash than they expected, and Satsuma commits to providing you with the best means of loans that it can with experience for over 135 years.

With fast and easy methods to apply to the quickest payment provider which they claim would take up to an hour. It facilitates its clients with the absolute best options. They take into account your affordability, your previous history and offer complete security of your personal information through encryption.

They offer a vast variety of loans which always gives you alternatives to any problem, and easy methods to repay those instalments for your loan makes it one the greatest choices to borrow some money. It doesn’t have to be more than you need, it recognises that sometimes you only need a little and that’s why it ranges from about £100.

FAQ’s

What is a Continuous Payment Authority (CPA)?

A Continuous payment authority grants Satsuma the authority to make a repayment transaction directly through your debit card whenever it has the funds.

A CPA is very convenient to have, all that is required are your bank and debit card details they will ensure they fix the loan repayment amount and the day they will collect their amount clearly with you and your consent and no changes will be made to these details unless you are stating otherwise.

After you set up a CPA the rest is handled automatically so you would be stress-free about setting up reminders to pay your loan repayment before the due date as it will be collected from your account when enough funds are available.

They will never charge you for any missed or late payments; therefore, there is nothing to be concerned about.

Can I apply for the loan on the weekend?

It most certainly offers you to apply for the loan any time of the day that is convenient for you as t is an online application making the process a whole lot simpler. On the approval of your application, they will get asses and try to get the money to you as quickly as possible within the timing of 6 am to 11 pm.

However, if your application was approved later or earlier than these timings, then you will have the payment the following morning within these hours.

How Much Interest Will There Be For My Loan?

The interest itself is some amount of additional money that you pay in terms of your loan amount, this is made up as a percentage and depends upon a few factors such as the amount you borrow, how much you repay and the APR this means that each loan as its own individual rate of interest and these are included in your monthly repayments.

A section of the repayment you make is a part of the interest and the other part being the actual amount you borrowed. When you apply for a loan through Satsuma, they will show you the interest rate and what you will pay as part of your agreement and will not fabricate any details as that is their policy.

If you have already taken a loan and want to find out your interest, you can find this in the loan agreement that you have been emailed or through their application.

Where And When Can I Use The Satsuma App?

You can use their mobile application which is completely free to download anywhere you have access to the internet, it does work even if you are travelling internationally and you can take a loan using their application too.

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Company Details
  • Company Name: PROVIDENT PERSONAL CREDIT LIMITED
  • Registration Number: 00146091
  • Incorporation Date: 1917-02-20
  • Status: Active
Loan Details
  • APR 1575% Representative
  • Loan Amount £100 - £1,000
  • Repayment Duration 13 - 52 Weeks
Contact Satsuma Loans
  • via Phone: 0800 409 6654 Call
  • via Post: No. 1 Godwin Street, Bradford, West Yorkshire, BD1 2SU