Satsuma Loans Monthly (currently not lending)

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.