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Satsuma Loans for short term cash loans

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Satsuma Loans

  • Borrow up to £10001
  • Online Service
  • Choose payment period
  • Direct to bank account
  • No hidden charges
  • Backed by Provident

Satsuma Loans

Satsuma-Loans logo

  • Short term online lender
  • Borrow £100 to £1000
  • Paid directly into your bank account within 2 hours of acceptance.
  • Various monthly repayment options
  • Part of the Provident Loans family
  • Can help rebuild your credit rating

Satsuma Loans is the online member of the Provident Loans family. If you need a short term loan of up to £1000 and then want to repay it in instalments ("segments") then Satsuma's proposition may be worth considering. They offer various monthly (3-12 months) repayment options.

As with other types of instalment loan keep in mind that this may not be the cheapest option available to you. Use our Quick Start tool to investigate others. Provident's standard home credit option (where the loan is delivered to and weekly payments collected from your doorstep) is cheaper than Satsuma, but you may prefer Satsuma's online convenience.

Summary of Satsuma Loans

  • Short term cash loans of £100 to £1000 (new customers) that you repay in monthly instalments
  • Apply online & after acceptance get your loan direct to your bank within 2 hours
  • Choose to repay your loan over 3 to 12 months.
  • There are no hidden charges - you always know upfront the total amount of the loan that you need to repay
  • Successful repayment of your loan could help to rebuild your credit rating.
  • You will need a bank account into which the loan is paid.

How to apply for a cash loan from Satsuma

Using their repayment calculator select the loan amount you need and that you consider you can afford to repay. Also select the period over which you'd like to make the repayments - remember that the quicker you repay the loan the lower the total cost of the interest although the monthly repayments will be higher (see example in FAQs below).

After you apply you will be given a decision in principle (including an assessment of affordability) and a member of Satsuma's customer service team will call you to confirm the details of your application. Payment will then be made directly to your bank account within 2 hours of acceptance.

Got a Question about Satsuma Loans?

What do I need to know before I apply?

Before you apply these are the basic borrower criteria. You must:

  • Be aged between 18 and 74
  • Be a UK resident
  • Not be bankrupt
  • Have a bank account with a debit card
  • Agree to a credit check

You will need to provide:

  • a valid email address & mobile phone number
  • address information for the past 3 years
  • your income and outgoings
  • your bank account and debit card details
How much can I borrow?

First time borrowers can borrow up to £1000. If you have borrowed before and repaid your loan without problems then Satsuma Loans may consider lending you up to £2000. In all cases though loan amounts are assessed by the lender on the basis of affordability - they will not lend you more than they believe you can afford to repay.

How much will my repayments be?

Choose your loan amount  - from £100 to £1000 - and the monthly repayment period you would prefer. 

You need to look at your personal budget to see how much you can afford to repay for each instalment. But keep in mind that the quicker you repay the loan the less interest you will pay.

For example if you borrow £100 and:

  • Repay over 3 months at £49.20 per month - total interest paid is £47.60
  • Repay over 12 months at £16.60 per month - total interest paid is £99.20

In this example you would save over 50% of the interest you might pay by paying the loan off more quickly!

Satsuma's loan calculator can help you judge what is affordable while keeping the period as short as possible.

How do I make my repayments?

As this is an online loan facility rather than a doorstep service your repayments are taken via your debit card (i.e. debited from your bank account) each time. This is done using a continuous payment authority that you agree to when you sign the loan documentation. As part of this agreement you will know on which day these debits will be made and the amount that will be debited. Satsuma Loans will never attempt to collect your payment more than once each time.

Can I change my monthly repayment or pay off my loan early?

To change your monthly repayment or to settle your loan early you simply call Satsuma's customer care team. If you pay off your loan early you may qualify for a rebate of the interest that you would have paid.

What happens if I have repayment difficulties?

When you agree your loan with Satsuma you will know the total amount you need to repay. If you have repayment issues Satsuma will not add charges to your account. However, because your circumstances might change during the loan period Satsuma realise that you might need to reorganise your loan payments and they ask that you contact their customer care team regarding repayment problems as soon as you are aware of them.

While Satsuma won't charge you more for missing payments etc these events will be recorded on your credit file and this may make obtaining credit more difficult in the future.

Show me the current Satsuma TV advert

Satsuma Loans is a trading name of Provident Personal Credit Ltd. They are authorised and regulated by the Financial Conduct Authority. Interim Permissions Reference Number 002529

To operate this service we receive a commission from the provider we refer you to.

Instalment Loans

Representative Example

Loan Amount

£400

Monthly Repayment

£126.40

Loan Term

6 months

Total Repayment

£758.40

Rate of Interest

179% p.a. fixed

Representative APR

991%

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Warning: Late repayment can cause you serious money problems. For help, go to  moneyadviceservice.org.uk.

1 Subject to application being approved by the lender.

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