Satsuma Loans FAQ
Before you make an application for a Satsuma loan, you will need to be built with information about the lending company. This Satsuma Loans FAQ covers probably the most questions that are popular. It covers important things to find out about the lending company, the loans and exactly what it is prefer to be considered a debtor.
Satsuma Loans is a trading title of Provident Personal Credit Ltd.
https://yourinstallmentloans.com/installment-loans-ky/
Provident is a well-known provider of loans, dating back once again to 1880.
Today, Provident will continue to run as a doorstep loan provider. Satsuma may be the manufacturer for Provident’s on line loans.
The office that is registered:
1 Godwin Street Bradford BD1 2SU
Provident is registered because of the Financial Conduct Authority. And will be located from the Financial Services join making use of the reference quantity 002529.
What sort of loans do Satsuma loans offer?
Satsuma is really a provider of short-term loans.
You are able to borrow such a thing from ВЈ100 to ВЈ1,000, susceptible to approval.
They are instalment loans, supplied over regards to between 3 and one year. A longer payment term enables you to distribute the fee, with more workable repayments but could keep you with debt for extended.
Longer loans terms additionally lead to a bigger total repayment.
Then you might pay back ВЈ49.20 per month and ВЈ147.60 overall if you borrow ВЈ100 from Satsuma over a 3-month term. But, the loan that is same 12 months might mean a complete payment of ВЈ199.20. Over 12 months, the monthly repayments are an even more workable ВЈ16.60.
These instalment loans may also be paid back weekly.
What’s the APR of a Satsuma loan? How do I submit an application for a loan from Satsuma?
Satsuma loans are supplied at A apr that is representative ofper cent.
This means at the very least 51% of clients must accomplish this APR or better.
You can apply online for the Satsuma loan.
There was that loan calculator from the Satsuma web site. You need to use this a rough estimate of the total repayment, and monthly or regular instalments. The cost that is actual of loan could be various. Interest levels determined after your circumstances that are individual been taken into consideration.
Once you understand exactly how much you desire to borrow, very long you may like to borrow for, it is possible to have the online application.
You will have to offer some personal and details that are financial.
In the event the loan is authorized, Satsuma claims that the income could possibly be in your bank account within 60 minutes.
is there requirements that are minimum fulfill?
To qualify for a Satsuma loan, satisfy specific requirements.
You need to:
В· Be between 18 and 74 yrs old.
В· Have a uk banking account and debit card.
В· Be a UK resident.
В· never be bankrupt.
Whilst some providers of short term installment loans have minimal income requirement, Satsuma will not publish one. Which means you can put on also on a minimal earnings but doesn’t mean you will be provided that loan that you simply cannot manage.
You should utilize that loan affordability calculator to pick loan that is realistic.
Will Satsuma run a credit check?
A credit check is a component regarding the process that is decision-making.
considered for a financial loan, you will have to provide approval credit history to be accessed.
Satsuma is just a accountable loan provider and can look at your credit history for indications as you are able to manage to repay that which you borrow. You might be authorized for a financial loan, even in the event your score isn’t perfect.
Satsuma checks your credit history with Experian.
Is Satsuma a lender that is trustworthy?
As being a Provident brand, Satsuma is just a lender that is trusted.
Provident loans have already been given to a lot more than 130 years.
Other Provident brands consist of Vanquis Bank, well understood for their credit cards.
Satsuma Loans was launched in 2013. The Satsuma site states that a lot more than 90,000 loans are actually released yearly.
is authorised and managed by the Financial Conduct Authority.
Loan reviews supplied by clients are often good.
Satsuma makes use of Reviews.co.uk feedback clients, with 83% of reviews having a 5* score as of January 2017.
Many borrowers mention an easy, fast and borrowing experience that is easy.
Satsuma has UK call centre.
Just how are loan repayments taken? What goes on if we cannot repay my loan?
Your loan will likely to be paid back Continuous that is using Payment (CPA). This permits to simply take funds from your money, monthly or weekly, without requesting authorization every time.
A right is had by you to withdraw Continuous Payment Authority, but it’s still in charge of your debt.
If you want to withdraw, you will have to contact Satsuma to create alternate plans.
Satsuma will concur all repayments to you ahead of the loan is finalised. This implies you shall get payment times and amounts making sure that there aren’t any shocks.
If you’re struggling to produce repayments, you will need to work quickly.
You should first contact Satsuma, alert to your problems.
Calling is not effortless. But, they will have to simply help. They have to act in and way that is responsible.
Satsuma could possibly started to a casual contract, that will help you with your cash dilemmas. They could temporarily pause your repayments or could stop interest that is further being put into your debt.
Another possibility is the fact that your regular or repayments that are monthly be paid off, aided by the debt spread over an extended loan term.
Loan providers haven’t any obligation that you owe or even stop interest from being added. But, allow you to find a good and reasonable solution.
Should this be perhaps not enough, you may want to contact a financial obligation charity 100% free financial obligation advice.
contact Satsuma?
It is possible to contact Satsuma by phone. Phone 0800 694 0004.
representatives can be found from through until Saturday monday.