Short term installment loans are a method to borrow a quantity of cash and repay in a brief period of time.

Borrow ?100 – ?1,000, susceptible to affordability

Representative 535%? APR.

Warning: belated repayment may cause you severe cash problems. For assistance, head to moneyadviceservice.org.uk

What exactly are Short Term Installment Loans?

This contrasts along with other kinds of borrowing, such as for example mortgages and auto loans, that are removed for bigger quantities of cash which you typically pay off over a long period.

You may find you have limited access to loans from some high street lenders or banks if you have a less than perfect credit history. With Satsuma, we glance at more than simply your credit rating when contemplating you for the temporary loan, meaning you could remain accepted despite having not as much as favourable credit.

Why choose Satsuma?

We could help if you’re looking for a short term loan but have limited access to credit from banks and other high street lenders. At Satsuma, you can borrow between ?100 and ?1,000 and repay over a length between 3 to 12 months if authorized.

We try not to charge charges for missed or late repayments, you simply pay off that which you agree upfront. Nevertheless, we still charge mortgage loan regarding the money you borrow. It is also well well worth noting that Satsuma are a definite high-interest loan provider, so please simply simply take this into account before using for a financial loan with us.

Our application procedure are completed online, and – subject to affordability checks – we are able to also provide you with a determination and also have the funds in your account on a single time.

No concealed charges

Our reviews

Our clients speed us 4.68 out of 5. Reviews.co.uk, July 2019

Decide to try our loan calculator

Verify that you will be qualified

We could tell you whether you’re probably be accepted for a temporary loan, without making a tough impact on the credit report.

With Satsuma you will find away if you’re qualified before using. Even although you have past reputation for bad credit, you’ll get an eligibility choice within 60 moments. You aren’t obliged to just simply take a loan out and there won’t be an archive from it on the credit file.

Then your application will require a full credit check if you do decide to apply afterwards however.

To check on, fill this form out and we’ll give you an instantaneous decision, susceptible to affordability.

Check just before use

Provide us with a details that are few you’ll find down in 60 moments if you’re probably be accepted

Protect your credit history

Irrespective of the total outcome, it’s not going to impact your credit history until you elect to use

Finish the full application

Then run a full credit check which will leave a mark on your credit file if you choose to apply, we’ll

Are Satsuma a lender that is direct?

Satsuma is a primary loan provider, which means that we spend the agreed loan amount directly into your account, then manage it right until the last repayment. Nonetheless, we do on event usage agents too.

What’s the difference between short term installment loans and payday advances?

Although they could seem similar, there are lots of differences when considering short term installment loans and loans that are payday.

Unlike payday advances, which needs to be paid back within one lump amount within 2-3 weeks of taking out fully the mortgage, repayments for a online payday loans Georgia Satsuma temporary loan may be produced in regular or month-to-month instalments, over a period of between 3 to one year.

It over for an additional month, you can be charged an additional fee or have increased interest added on to your payments if you miss a repayment on a payday loan or roll. You’ll not spend any extra costs on a Satsuma term that is short, just what’s agreed upfront.

Nevertheless, once we talked about earlier, we have been a high interest loan provider which means that our interest levels are a lot more than conventional traditional loan providers. Something should be thought about very very carefully if you’re thinking about a Satsuma loan.

Can a term that is short be great for my credit score?

The theory is that, any loan you are taking down – a term that is short or otherwise – may have a direct impact on your own credit score. You manage your repayments whether it has a positive or negative impact depends upon how.

In the event that you spend your loan straight back beneath the terms consented whenever you took it away, and also make your entire repayments on time, this assists to enhance your credit history. If, having said that, you might be belated with re payments or completely miss them, this could easily damage your credit score.

When you have other personal lines of credit available, opt for just how they are handled. If repayments are missed somewhere else then this can have a negative affect your credit score.

Nevertheless, you will find exceptions to take into account: if a specific business views temporary (or payday) loans adversely, then having this on your own credit rating may potentially count against you.