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

Representative 535%? APR.

Warning: belated payment may cause you severe cash issues. 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 example mortgages and car and truck loans, that are removed for bigger quantities of money which you typically repay over a long period.

When you have a sub-standard credit score, you will probably find you’ve got restricted access to loans from some traditional loan providers or banking institutions. With Satsuma, we view more than simply your credit rating when it comes to you for a term that is short, meaning you could remain accepted despite having lower than favourable credit.

Why choose Satsuma?

If you’re interested in a quick term loan but have restricted access to credit from banking institutions as well as other traditional loan providers, we could assist. At Satsuma, you can borrow between ?100 and ?1,000 and repay over a length between 3 to one year if approved.

We don’t charge costs for missed or late repayments, you simply pay off that which you agree upfront. But, we nevertheless charge mortgage loan from the cash you borrow. It is additionally well worth noting that Satsuma certainly are a high-interest lender, so please just simply simply take this into account before using for a loan with us.

Our application process may be completed online, and – subject to affordability checks you a decision and have the funds in your account on the same day– we can even give.

No concealed charges

Our reviews

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

Take to our loan calculator

Verify that you may be qualified

We could tell you whether you’re probably be accepted for the term that is short, without making a difficult impact on the credit history.

With Satsuma you’ll find down if you’re qualified before using. Even though you have past history of bad credit, you’ll get an eligibility choice within one minute. You’re not obliged to just simply just take a loan out and there won’t be accurate documentation from it in your credit report.

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, at the mercy of affordability.

Check just before use

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

Protect your credit rating

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

Finish the full application

If you decide to use, we’ll then run the full credit check that will keep a mark on your own credit report

Are Satsuma a primary loan provider?

Satsuma is an immediate loan provider, this means we spend the agreed loan amount directly into your account, then manage it right until the payment that is final. But, we do on event usage agents too.

What’s the difference between short term installment loans and pay day loans?

While they can appear comparable, there are numerous differences when considering short term installment loans and payday loans.

Unlike payday advances, which must certanly be paid back within one swelling amount within a couple weeks of taking out fully the mortgage, repayments on a Satsuma temporary loan could be manufactured in regular or month-to-month instalments, over a period of between 3 to one year.

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’ll not spend any extra costs on a Satsuma short-term loan, just what’s agreed upfront.

Nevertheless, we are a high interest lender which means our rates of interest are much higher than traditional high street lenders as we mentioned earlier. Something is highly recommended very very carefully if you’re thinking of a Satsuma loan.

Can a term that is short be good for my credit history?

The theory is that, any loan you are taking away – a term that is short or otherwise – might have a direct effect on your credit history. Whether it has an optimistic or negative effect is determined by the manner in which you handle your repayments.

In the event that you spend your loan right back beneath the terms consented whenever you took it down, and work out your entire repayments on time, this assists to boost your credit history. If, having said that, you might be belated with re payments https://approved-cash.com/payday-loans-oh/covington/ or miss them totally, this will probably damage your credit score.

For those who have other lines of credit available, opt for exactly how they are managed. If repayments are missed somewhere else then this can have a negative effect on your credit history.

Nevertheless, you will find exceptions to consider: then having this on your credit history could potentially count against you if a particular company sees short term (or payday) loans negatively.