Satsuma Loans

8 reviews

1575% Representative

Will lend between: £100 - £1,000

Over: 13 - 52 Weeks

Representative example: Representative example: If you borrow £400 over 26 weeks at a Representative rate of 1,575% APR and an annual interest rate of 183.00% (fixed), you would pay 26 weekly payments of £29.46. The total charge for credit will be £365.96 and the total amount payable will be £765.96.

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Representative 49.9% APR.

Satsuma Loans customer reviews.

8 reviews

3.8 out of 5 stars

Excellent
17:02 27-07-2017
ImageChoose Wisely

Never had any problems with satsuma loans always been fast payouts no problems would use again

RUSSELL

great company
04:45 30-06-2017
ImageSmart Money People

great staff very hrlpful and understanding

shelley sewell

JOKE
21:33 06-09-2016
ImageChoose Wisely

i APPLIED ON Sunday Evening as I neded this urgently got told I was approved and account online was openede saying PENDING? no funds have been paid into my account two full days later no emails and no texts to let me know whats happening when are they sending the money its a joke

phillip

Quick, easy and hassle-free loan
19:03 22-06-2017
ImageSmart Money People

Great customer service and simple website which helps manage my account.

S Jackson

If your in a tight position wiv finances
13:59 12-01-2016
ImageChoose Wisely

I was told that these are are good people very fair nd friendly nd they help you out I don't no myself cos I keep being told I can have loans but then being let down really by other loan company s. I am disabled wiv lots disability nd fed up of being others jhav joke nd fun out. Of me nd signing me up for stuff nd memberships nd all sayin NO to a little £200 when I have enough to pay it next month also not really in any shape to run anywhere as there things wrong wiv Heath BUT QUICK QUID could be a good one ok

Jason Heath

Quick, easy, fair
12:43 05-06-2017
ImageSmart Money People

Got a loan to pay rent, Satsuma were quick, and their interest is reasonable considering there are so many other companies with higher rates.

Ryan

Convienet
12:38 29-04-2017
ImageSmart Money People

The texting advisors was very convienet

C ger

Excellent
16:56 19-04-2017
ImageSmart Money People

Reliable, fast and friendly.. Payout in less than 15 minutes, extremely happy :)

Kiyana Anderson

Our review of Satsuma Loans

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 payday 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 haven'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. 

Written by: Mark

Highlights

  • Weekly repayments on any day
  • You can choose which day of the week for repayments
  • No charges for late or missed payments
  • Funds available in only an hour between certain hours
  • Make additional or overpayments at any time

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
  • You must agree to a credit check

Fees

  • Maximum APR 1575%
  • Arrangement fee: £0
  • Early repayment fee: £0
  • Late payment fee: £0

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About Satsuma Loans

Satsuma Loans offer high-cost short-term loans between £100 and £1,000 that can be borrowed over a period of 13 to 52 weeks at a representative APR of 1575%. Instead of paying monthly like some other lenders, their short-term loans can be repaid weekly instead. Satsuma Loans charge absolutely no fees at all including arrangement fees, faster payment fees or even late or missed payments.

During the application Satsuma Loans will take a variety of details from you in order to determine whether you’ll be able to pay back the loan which goes towards their approval decision. You’ll need to give them your last three years’ address information, your monthly expenditure and you’ll need to agree to a credit check. Even if you have been declined credit from one lender, you still may be able to apply to Satsuma as long as you haven’t been bankrupt.

If you’re approved for a loan with Satsuma Loans, you can receive the funds within an hour as long as it’s between 6am and 11pm. Once you have chosen your weekly repayment day they will set up a Continuous Payment Authority to ensure the loan is paid. If you do find yourself with additional funds then you’re able to make overpayments and will need to phone their call centre.

Company information

Registration number: 146091

www.personalinhomecredit.co.uk

0800 409 6654

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