Satsuma Loans began trading in 2013, offering online, short-term loans in the non-standard credit market.
Satsuma Loans is an online instalment loan product. Satsuma Loans collects repayments by Continuous Payment Authority (CPA), on a weekly or monthly basis, on a day agreed with the customer upfront. The total amount repayable is fixed at the outset, so there are no extra charges. The customer support call centre is UK-based and as with the Group's Provident home credit products.
Satsuma Loans provide short-term loans online to help customers manage their everyday lives. The product and service is designed to align with the requirements of non-standard credit borrowers. The full cost of a loan is agreed upfront and is then repaid in fixed and manageable weekly payments. This means that customers have peace of mind that they’ll never incur any additional fees or charges whatsoever.
How a Satsuma loan works
Following a successful online application, including affordability and credit bureau checks, loans are delivered directly to customers’ bank accounts. A member of our Customer Care Team is available throughout the term of the loan if support is required.
Easy to fill out online form and the money was in my account the same day-which was a Saturday! Absolutely fantastic as I am a working mum with 5 kids and my washer broke and I was going out of my mind with worry. Was able to replace my washer and get all the uniforms and work clothes ready for Monday morning! Thank you Satsuma. Also great not to have to worry about paying it all back out my wage with the weekly repayments. Thanks again!
Repaying a Satsuma loan
Repayments are collected automatically by CPA. The full cost of a Satsuma Loan and the fixed, manageable repayment schedule are agreed with the customer upfront. However, if their circumstances change, the structure of our loans allow for flexibility in the repayment schedule without incurring any late fees or additional charges.
For further information visit Satsuma Loans' website.