Satsuma is linked with Provident Personal Credit Limited which offers high-cost short term loan and has over 135 years of experience in lending customers. Satsuma Loans is a fresh substitute for those looking for a short term loan. These loans charge no fees and a stout success rate among former customers. With a Satsuma loan, you can make a repayment each week or month, to pay off part of the loan as well as the interest accrued so far. Although this payday loan lender doesn’t charge any fees on their loans, APR and rates are too higher in the loan category.
You can borrow from £100 to £1,000 and payback inconvenient periods over terms from 3-12 months at a representative APR of 1575%. This spreads the cost of repayment, potentially taking the pressure off finances. If you borrow for longer periods, you’ll have to pay more interest. Returning customers are eligible for bigger loans of as much as £2,000. The total amount of interest charged over the loan depends on the length of the loan term. If you take a loan of £400 for 26 weeks, the total interest will be £679.90.
Representative Example: If you borrow £400 at a Representative rate of 1,575% APR over 26 weeks and an annual interest rate of 183.00% (fixed), you will pay 26 weekly payments of £29.46. The overall charge for credit will be £365.96 and the amount payable will be £765.96.
Features of Satsuma Loans
- Weekly repayments on any day
- You can choose which day of the week for repayments
- No charges for late or missed payments
- Funds available in only an hour between certain hours
- Make additional or overpayments at any time
- Loans of £100-£1000
- You can borrow over 3 to 12 months
- Simple application process
- SmartCheck
- Quick cash
- Repay early at any time
Eligibility Criteria
Applying for Satsuma loans you:
- must be aged between 18 and 74
- need to be a UK resident
- You must have a mobile phone
- will need an email address
- must agree to a credit check
Fees and Charges
- Maximum APR 1575%
- Early repayment fee: £0
- Arrangement fee: £0
- Late payment fee: £0
Warning: If you’re going to take out a Satsuma Loan, the standard high-cost short term loan warning applies: make sure you make with repayments on time. Although Satsuma Loans doesn’t charge any fees if you do miss a repayment, it’s not recommended to have missed or late payments displaying on your credit file.
How to Apply for a Satsuma payday?
For Applying for Satsuma Loan, you should follow the process
- Calculate the amount and length of the loan.
- Complete an online application form by entering basic information about the address, contact details, employment and bank account.
- After completing the application, wait for the application to be accepted or rejected from the lender. This will take several minutes.
- Accept the agreement.
- If accepted, your loan will be transferred in your current account within the hour.
Repayment
For repaying Satsuma loans, clients have a few different options to choose from. Payments are set up in easy and manageable parts. Borrowers can pick the term length that’s flexible for them. Repayments can be made by a Continuous Payment Authority that takes and manage payment automatically so customers don’t have to worry about forgetting their due dates.
Additional Borrowing Options
Top Ups
You have the option to top up your payday loan with Satsuma and can get an additional loan. Your eligibility to get a top-up will depend on your present loan and if the lender believes this to be a suitable option for you.
Extensions
You can extending your repayment date through Satsuma loans.
Company Information
Registration number: 146091
Godwin Street, Bradford, West Yorkshire, BD1 2SU, United Kingdom
FCA Registration Reference No: 002529
Trading names: Advance Cash, Advance Loans, Provident Direct, Provident Personal Credit, Provident, Satsuma Loans
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