Satsuma Loans Monthly

30 reviews

535% Representative

Will lend between: £100 - £1,000

Over: 3 - 12 Months

Representative example: Representative Example: If you borrow £480 over 9 months at a Representative rate of 533% APR and an annual interest rate of 133.1% (fixed), you would pay 9 monthly installments of £106.56. The total charge for credit will be £479.04 and the total amount payable will be £959.04.

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Satsuma Loans Monthly customer reviews.

30 reviews

1.5 out of 5 stars

Our review of Satsuma Loans Monthly

Satsuma Loans are a relative newcomer to the personal loans market, however, their roots go back over 200 years, through parent company Provident PLC. Pitching themselves as a friendly alternative to payday loans, the firm comes across as a fresh and vibrant take on the high-cost short-term credit model. 

Satsuma rate highly when it comes to features largely because they don't charge any fees! That's right, aside from your repayments, there aren't any fees at all, which is a bit of a rarity when it comes to the short term loan sector. Watch out though, although Satsuma doesn't charge any fees on their loans, rates and APR are at the higher end of the pricing spectrum in this category. When it comes to simplicity and consumer sentiment, Satsuma hasn't scored as highly due to a lack of post-payout facilities like statements and payment holidays.

If you're considering taking out a Satsuma Loan the usual high-cost short-term loan health warning applies: make sure you keep up with your repayments. Although Satsuma Loans are good at not charging any fees if you do miss a payment, it's never a good thing to have late or missed payments showing up on your credit file. 

Andrew Freelander
Written by
Andrew Freelander
Brand & Content Manager at Choose Wisely

Andrew joined Choose Wisely 5 years ago, originally working in a design capacity to make sure the website was simple to use. Most notably he worked with the Consumer Finance Association to design the comparison table of choice for High-Cost Short Term Finance products.

Highlights

  • Monthly repayments on any day
  • No charges for late or missed payments
  • Funds available in only an hour between certain hours

Minimum criteria

  • You must be aged between 18 and 74
  • You need to be a UK resident
  • No bankruptcy
  • You will need an email address
  • You must have a mobile phone

Fees

  • Maximum APR 1027.9%
  • Arrangement fee: £0
  • Early repayment fee: £0
  • Late payment fee: £0

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About Satsuma Loans Monthly

Satsuma Loans offer high-cost short-term loans between £100 and £1,000 that can be borrowed over a period of 3 to 12 months at a representative APR of 535%. Satsuma Loans charge absolutely no fees at all including arrangement fees, faster payment fees or even late or missed payments.

Company information

Registration number: 146091

www.satsumaloans.co.uk

0800 694 0004

1, Godwin Street, Bradford, West Yorkshire, BD1 2SU, United Kingdom

FCA registration

Reference No: 002529

Trading names: Advance Cash, Advance Loans, Provident Direct, Provident Personal Credit, Provident, Satsuma Loans

Place of business: 1, Godwin Street, Bradford, West Yorkshire, BD1 2SU, United Kingdom

Data protection registration

Registration No: Z5227544

Data controller: Provident Personal Credit Limited

Address: 1, Godwin Street, Bradford, West Yorkshire, BD1 2SU, United Kingdom

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