According to Wikipedia, Satsuma Loans (a trading name of Provident Personal Credit) is an online-only loan provider offering short-term loans.
It was launched by doorstep lender Provident Financial in 2013. Satsuma Loans charges a typical annual percentage rate of 991% as of March 2017, with a maximum interest rate of 1,575%.
Satsuma lends up to £1,000 to first time customers which can be borrowed over a 12-month period, incurring an interest charge of £990 on a £1,000 loan.
Satsuma Loans offer fixed weekly or monthly repayment plans and claim that there are no hidden fees or charges with their loans.
Satsuma had £5 million of loans as of 2015, increasing from £1.8 million the previous year.
Why Choose Satsuma Loans?
There are few reasons why I recommend that you should borrow money from satsuma.
1. No Hidden Fees
Satsuma Loans pride themselves on the fact their loan costs are simple and straightforward.
Of course the amount you borrow will have interest applied based on the length of time you choose to pay it back, but you can be sure that this final amount is the total cost of your credit and that it will never change; you only ever pay back what you agree upfront. Use their loan calculator to see your loan options.
2. Customers Satisfaction
Satsuma loans customers rate them 4.68 out of 5. Reviews.co.uk, July 2019 because of their outstanding lending.
Here are some of the best loan offers you can get on Satsuma:
• Satsuma Short Term Loan
Short term loans are a way to borrow an amount of money and pay it back in a short space of time.
This contrasts with other types of borrowing, such as mortgages and car loans, which are taken out for larger amounts of money that you typically pay back over several years.
If you have a less than perfect credit history, you may find you have limited access to loans from some high street lenders or banks. With Satsuma, they look at more than just your credit history when considering you for a short term loan, meaning you could still be accepted despite having less than favourable credit.
• Bad Credit Loan
If you have a poor credit history but want to borrow money, then you may be searching for a bad credit loan. Although there is no such product as a ‘bad credit loan’, it is a common term for a personal loan for those with less than perfect credit.
• Payday Loan
A payday loan is a type of short-term credit, as the name suggests, the debt from this type of loan is usually repaid in full from the borrower’s next pay packet
° Same Day Loans
Same day loans are pretty much what they say on the tin. We’re talking about loans that are paid out on the same day your application is accepted.
How To Apply For Satsuma Loans?
Satsuma Loans application is 100% online and can be applied through their website orr via satsuma loan app which can be downloaded from Google playstore and apple store.
• To apply for satsuma loans visit their Website and choose the amount of loan that you want to apply. This goes from £100 to £1000 and can be repaid monthly or weekly.
• Choose how long you would like to borrow from…. This starts from 3months to 12 months.
• Review your loan application both the interest rates and repayment, if it suits your need then hit the apply now button.
Satsuma Loans Repayment
Loans can be repaid either monthly or weekly over a period of 3 to 12 months depending on the loan term chosen at application. The maximum APR for a loan is 1575%.
All they ask is that you get in touch if at any point your circumstances change. They don’t want you to ever feel worried about repayments. Simply let Satsuma know what the issue is and they will try to help you get back on track.
Whether you prefer to pick up the phone, drop us an email or put pen to paper, you can always contact us here at Satsuma Loans.
Satsuma Loans Login
The satsuma loans login page is available for all their customers even if you have paid off your loan with them, you can still register and login to your satsuma loans account.