Satsuma Loans

  • Borrow £100 to £1,000
  • Repay over 3 to 12 months
  • Payouts within 24 hours
  • All credit ratings
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About Satsuma Loans

Satsuma Loans is the online member of the Provident Financial Group. If you need a short term loan of up to £1,000 subject to affordability and then want to repay it in instalments then Satsuma’s proposition may be worth considering.

Loan Summary:

 

Loans Amount (£) Loan Term (months) Representative APR
100 – 1,000 3 – 12
(or 13 to 52 weeks)
535%

 

Satsuma charges the same interest rate regardless of the loan amount, repayment term or applicant. To benefit from a Satsuma loan you must have a bank account. Applications are online, and if your application is successful your loan is paid directly into your account. You can choose to repay in weekly or monthly instalments. Paying monthly will mean you repay slightly more interest in total. There are no hidden fees – you always know upfront the total amount that you will need to repay.

Lender Ratings:

Satsuma Loans scores 4.6 out of 5 based on over 2900 reviews on Reviews.io. This score puts Satsuma slightly higher up the rating spectrum than the typical short term loan lender.

Compare Satsuma Loans to Others

For clarity here are the key differences of Satsuma to the “typical” or “average” short term loan lender:

Advantages

  • Strong customer feedback and ratings
  • It is possible to have 3 loans running in parallel (subject to affordability)
  • The same daily interest rate for all applicants and all loan sizes

Disadvantges

  • The maximum loan size is £1000 which may not be as large as some lenders

How to apply for a Satsuma short term loan

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 weekly/monthly repayments will be higher.

After you apply you will be given a decision in principle, subject to affordability. A member of the Satsuma team may contact you to confirm some details of your application. Payment will then be made directly to your bank account.

Satsuma’s Representative Example

Borrow £480 for 9 months. Representative 535% APR fixed. Monthly payment £106.56. Interest payable £479.04. Total repayable £959.04.

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

We’ll Find Your Loan

Why trudge from one lender website to the next when Solution Loans can find you the cheapest deals instantly? It’s simple to see why using our comparison service makes sense:

  • We’re free to use and there’s no obligation!
  • We have the widest choice of UK short term lenders
  • Our form takes just a couple of minutes to complete
  • It’s quick and easy to compare lender offers
  • The same deals as going direct, but quicker!
  • Instantly complete your chosen loan(s)
  • Sign your loan agreement online to get the funds fast

Get Your Loan Choices

How to find Satsuma

Office Address:

1 Godwin Street, Bradford BD1 2SU.

Office Hours:

Mon – Fri: 08.00 – 18.00

Important Links:

Company Information

Company Registration

Satsuma Loans is a trading name of Provident Personal Credit Limited. Registered Office: 1 Godwin Street, Bradford BD1 2SU. Company registration number 146091.

FCA Registration

Provident Personal Credit Ltd is authorised and regulated by the Financial Conduct Authority with firm reference number 700144.

ICO Data Protection Registration

Provident Personal Credit Ltd is registered with Information Commissioner, registration number Z5227544.

 

Instalment Loans Guide

If you’re uncertain which type of credit might suit you or you have a money problem then one of guides may help you. We summarise each type of loan and their pros and cons, and address issues regarding debt and credit ratings.

Got a Question about Satsuma Loans?

Answer to Common Questions

Is Satsuma Loans any good?

Customer ratings for Satsuma are better than for most short term lenders. In absolute terms they currently score 4.6 out of 5 based on thousands of ratings and reviews. They are part of a large organisation (Provident Financial Group) that take their customer service seriously and understand the importance of reputation in the short term loans market.

Who owns Satsuma Loans?

Satsuma Loans is a trading style of the Provident Financial Group that is perhaps better known for its home credit product more commonly called “Provident Loans”.

Does Satsuma accept bad credit?

Repayment affordability is just as important these days as a person’s credit history. In the short term loan market this is perhaps the case even more. So, while having credit problems might concern a lender they will most probably be focused more on your income and outgoings. They want to be sure you will be able to make your monthly/weekly repayments on time and in full.

Can I get a cash loan from Satsuma?

Satsuma provides a fully online service with loans paid to and repayments made from your bank account. To get a cash loan from Satsuma you could get the loan paid to your bank electronically and then withdraw the loan as cash from your bank (at the counter or via a cash point).

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 fast can Satsuma pay out my loan?

If your loan is approved by Satsuma between 06.00 and 23.00 then they will credit your bank account the same day. Outside of these hours, they will send your loan the following morning.

How much can I borrow?

First-time borrowers can borrow up to £1,000 (subject to affordability). If you have borrowed before and repaid your loan without problems then Satsuma Loans may consider lending you up to £2,0001. 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.

1subject to the second application being within 3 years.

What other loans are there like Satsuma's?

There are a variety of lenders that offer short and medium-term loans. We have access to many of them and continually add new ones where we can. You can find other short term lenders here.

How much will my repayments be?

Choose your loan amount  – from £100 to £1,000 – the borrowing period you would prefer, and whether you want to repay weekly or monthly.

You need to look at your personal budget to see how much you can afford to repay for each instalment.

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 repayment amount or pay off my loan early?

To change your repayment amount 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.

OUR PROMISES

  • No Upfront Fees
  • Smart Online Service
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  • Independent & Impartial
  • Trusted Partners

WHY CHOOSE US?

For over a decade Solution Loans has helped people all over the UK find solutions to their personal finance problems.

OUR REPUTATION Instalment Loans

OUR REPUTATION

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Our reputation is great. In fact we have scored 4.6 out of 5 based on 308 ratings & 53 user reviews for our short term loans service.

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Written/Reviewed by: Amanda Gillam

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