Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk

Who are Satsuma?

Satsuma is a trading name of Provident Personal Credit Limited, part of the Provident Financial Group who are one of the oldest financial institutions in the UK. Satsuma are a provider of online short-term loans. As a direct lender, they promote a customer-focused flexible service that can often help customers in need of immediate funds due to unexpected financial emergencies.

Satsuma Loans alternative

How much can you apply to borrow from Satsuma?

Loan amounts for Satsuma range between £100 and £1,000. Returning customers may be able to borrow up to £2,000 if their first loan was well-managed.

What are the repayment terms?

Loans can be repaid between 3 and 12 months, depending on your circumstances.

How much interest do they charge?

Satsuma’s representative APR is 535%

Borrowing £480 for 9 months with a fixed annual interest rate of 133.10% based on the above APR, would mean making 9 monthly instalments of £105.56, totalling of £959.04 once the repayments are complete.

Do Satsuma charge any late payment fees?

Satsuma will not charge you anything extra for the late payment of an instalment.

How quickly do they transfer the money?

Satsuma state the money will be transferred to your account within an hour. Payments happen continuously throughout the day between 6am and 11pm.

Can you repay a Satsuma loan back early?

Yes, customers have the option to repay early and you may also be entitled to an interest rebate. Contact the customer service team and they will provide you with a settlement quote that is valid for 28 days.

How do you apply for a Satsuma loan?

In order to apply for a Satsuma loan you must be:

  • Aged between 18-74
  • A UK resident
  • Have no history of bankruptcy
  • Own an email address
  • Ready to undergo a credit check
  • The owner of a UK mobile phone number

Once you complete the online application form, you will be asked to provide additional information such as incoming and outgoings, along with address history for the past three years. You may also be asked to prove your ID, but these varies from case to case.

Are Satsuma authorised & regulated by the FCA?

Satsuma is a trading names of Provident Personal Credit Limited. They have been fully authorised by the FCA since 9/11/18 and you can see full details about the company on their FCA register page.

Is there a Satsuma app customers can use?

You can download the MySatsuma app on Google Play and the iTunes store to help manage your loan.

What about an online account for Satsuma?

Yes, Satsuma will give every successful applicant access to an online account where they can track payments and also make instalments.

How can you contact Satsuma customer services?

Customers should call 0800 694 0004, which is available Monday to Friday 8am to 8pm and Saturdays 8.30am to 5pm.

There is no email address but you can use an online contact form to send them a message.

Do Satsuma use social media?

Twitter: @SatsumaLoans

What do customers say about Satsuma loans?

On reviews.io Satsuma have a rating of 4.64 based on 2915 customer reviews. This is accurate as of March 2020.

Satsuma summary

Satsuma are a direct lender of short-term credit. They can often help consumers in need of immediate financial solutions. First-time customers can borrow between £100 and £1,000, while returning customers can apply to loan up to £2,000.

The representative APR is 535%, with a daily interest rate of 0.36%, and repayment terms available range between 3 months and 1 months.

Once agreed funds will be transferred within the hour and there are no fees applied for late payments. You can repay early and will be given a settlement figure that is valid for 28 days.

To apply for a Satsuma loan you must be:

  • Between 18 to 74-years-old
  • Living in the UK
  • Not bankrupt
  • The owner of an email address
  • Happy to accept a credit check
  • Able to prove you own a UK mobile phone number

There is an app available to manage the loan along with an online account. Satsuma are also regulated by the FCA and their current rating on Reviews.io is excellent with a score of 4.64/5 (March 2020).

Representative 49.9% APR

Representative Example

Amount borrowed: £1200 for 18 months
Number of repayments: 18
Interest rate p/a: 49.9% (variable)
Each repayment amount: £90.46
Total amount repayable: £1628.28

Warning: Late repayment can cause you serious money problems.
For help, go to moneyadviceservice.org.uk

Lenders

Get your personalised quote today!