Borrow ?100 – ?1,000, susceptible to affordability

Representative 535%? APR.

Warning: belated payment could cause you severe cash dilemmas. For help, head to moneyadviceservice.org.uk

Exactly what are Short Term Installment Loans?

This contrasts along with other kinds of borrowing, such as for instance mortgages and auto loans, that are removed for bigger levels of cash which you typically pay off over a long period.

When you have a very poor credit rating, you will probably find you’ve got restricted access to loans from some high-street loan providers or banking institutions. With Satsuma, we consider more than simply your credit rating when contemplating you for the short-term online payday IA loan, meaning you could remain accepted despite having lower than favourable credit.

Why choose Satsuma?

If you’re looking a quick term loan but have restricted access to credit from banking institutions as well as other high-street loan providers, we’re able to assist. At Satsuma, you can borrow between ?100 and ?1,000 and repay over a length between 3 to one year if authorized.

We try not to charge charges for missed or late repayments, you simply pay off that which you agree upfront. Nonetheless, we nevertheless charge mortgage loan regarding the cash you borrow. It is additionally well well worth noting that Satsuma really are a lender that is high-interest so please simply simply take this into account before you apply for a financial loan with us.

Our application procedure could be completed online, and – subject to affordability checks – we could also provide you with a determination and also have the funds in your account on a single time.

No fees that are hidden

Our reviews

Our clients speed us 4.68 out of 5. Reviews.co.uk, July 2019

Decide to try our loan calculator

Verify that you might be qualified

We are able to inform you whether you’re apt to be accepted for the short-term loan, without making a difficult impact in your credit report.

With Satsuma you will find down if you’re qualified before using. Even although you have reputation for bad credit, you’ll get an eligibility choice within one minute. You aren’t obliged to simply just simply take a loan out and there won’t be accurate documentation from it on your own credit history.

Then your application will require a full credit check if you do decide to apply afterwards however.

To test, fill away this form and we’ll give you an immediate decision, susceptible to affordability.

Check always just before use

Provide us with a details that are few you’ll find away in one minute if you’re probably be accepted

Protect your credit history

Regardless of the outcome, it will not impact your credit rating until you decide to use

Finish an application that is full

Then run a full credit check which will leave a mark on your credit file if you choose to apply, we’ll

Are Satsuma a primary loan provider?

Satsuma is a primary loan provider, this means we spend the agreed loan amount straight into your bank account, then manage it right up until the payment that is final. But, we do on event usage agents too.

What’s the difference between short term installment loans and payday advances?

Although they are able to appear comparable, there are lots of differences when considering short term installment loans and loans that are payday.

Unlike pay day loans, which should be paid back in one single swelling amount within 2-3 weeks of taking right out the mortgage, repayments on a Satsuma term that is short could be built in regular or month-to-month instalments, during a period of between 3 to 12 months.

It over for an additional month, you can be charged an additional fee or have increased interest added on to your payments if you miss a repayment on a payday loan or roll. You won’t spend any extra costs for a Satsuma term that is short, just what’s agreed upfront.

Nevertheless, once we pointed out earlier in the day, we’re a higher interest lender which means that our interest levels are a lot more than old-fashioned traditional loan providers. Something that is highly recommended very very carefully if you’re thinking about a Satsuma loan.

Can a temporary loan be great for my credit history?

The theory is that, any loan you are taking down – a term that is short or otherwise – might have a direct impact on your own credit history. You manage your repayments whether it has a positive or negative impact depends upon how.

In the event that you spend your loan straight back underneath the terms consented once you took it away, and then make all your valuable repayments on time, it will help to boost your credit score. If, having said that, you will be belated with payments or completely miss them, this could easily damage your credit history.

When you have other personal lines of credit available, opt for just how they are handled. Then this will have a detrimental impact on your credit rating if payments are missed elsewhere.

Nonetheless, you can find exceptions to take into account: if a specific business views short-term (or payday) loans adversely, then having this on the credit rating may potentially count against you.