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Satsuma Loans

Who are Satsuma Loans?

Satsuma Loans were established in 2015 and are part of Provident Personal Credit Limited, a trusted provider of consumer credit, operating for over 135 years.

Offering sums of up to £1000, repayable over periods of between three and 12 months, they offer weekly or monthly repayment schedules and don’t charge any fees, even for late payment. To date, they have issued over 280,000 loans and are rated 4.8 out of 5 for customer satisfaction.

Satsuma Loans alternative
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What is the duration of a Satsuma Loans?

Between three and 12 months.

How much credit can you apply for?

YNew and existing customers may apply to borrow up to £1000. It is recommended that you run your preferred loan amount through their free online loan calculator before you submit your application. This shows how much you can expect to repay, including interest, based on the sum that you wish to borrow and for how long.

What is Satsuma Loans’s loan application process?

Satsuma Loans has a quick and easy application process, aiming to give you an ‘instant decision,’ once you submit your completed online form. In some cases, you are asked to provide supporting information, such as a payslip, which can be emailed across to them to prevent any delay in receiving your loan.

To complete the form, you must provide a valid email address and mobile phone number, your address details for the past three years, your regular income and outgoings, along with your bank account and debit card details. You will also be asked to agree to a credit check.

What are the requirements?

To apply for a loan from Satsuma Loans you should:

  • Be aged between 18 and 74
  • Be a UK resident
  • Not be bankrupt

How quickly will I receive my loan from Satsuma Loans?

If your loan is accepted between the hours of 6 am to 11 pm, then the money will be transferred within the hour by Faster Payments. If you haven't received your money within a couple of hours after you have been accepted your loan, you should contact the Satsuma Loans Customer Care Team on 0800 694 0004.

What do Satsuma Loans charge?

The amount of interest charged depends on the amount borrowed and for how long. The maximum APR for a Satsuma loan is 1575%.

How much will you repay?

Representative Example

Representative example: £400 loan repayable over 6 months. 6 monthly payments of £126.40. Rate of interest 179% p.a. fixed. Representative 991% APR. Total amount payable is £758.40.

Do Satsuma Loans charge penalties?

When borrowing with Satsuma Loans, you only ever repay the sum that you agreed on upfront. There are no hidden charges including missed payment fees, application or processing fees.

Can I repay my Satsuma loan early?

You may repay your loan early, which could reduce the amount the total amount that you are required to pay back and may even entitle you to a rebate.

To settle your loan early call the Satsuma Loans Customer Care Team, who will let you know how much is due and whether you are eligible for a rebate. Your settlement quote is valid for 28 days, with interest due on the loan for this period.

The full 28 days interest is due, even if you repay immediately, based on the provisions of the Consumer Credit (Early Settlement) Regulations 2004.

Will Satsuma Loans run a credit check?


Satsuma Loans work with two of the main credit reference agencies, Call Credit and Experian, to run a credit check as part of the loan application process. This is essential for lending responsibly and doesn’t necessarily mean that you won’t be accepted for a loan if you have less than perfect credit.

Satsuma Loans state that the credit check is proportionate to the loans that they offer and that they base their lending decision on all the information provided during the application process, not just your credit file.

What help and support do Satsuma Loans offer?

Satsuma Loans Customer Care are UK based and available to offer help and support from Monday - Friday between 8 am – 8 pm and on Saturday from 8:30 am – 5 pm. Call them on 0800 694 0004 or 0330 303 2000 or email onlinecustomercare@satsuma-loans.co.uk.

Where can you find online reviews of Satsuma Loans?

There are over 1600 reviews from genuine customers on business review website reviews.co.uk. With an average satisfaction score of 4.7 out of 5, Satsuma Loans is rated highly and has lots of positive feedback from happy customers.

What are Satsuma Loans's FCA registration details?

Satsuma Loans are authorised and regulated by the Financial Conduct Authority. Interim Permissions Reference Number: 002529, proof of their authorisation can be found here.

Why choose Cash Lady?

Applying with CashLady

Applying through Cashlady involves just one application, so you can sit back and let us provide you with a selection of suitable quotes from various lenders, including Satsuma Loans.

Here at CashLady, we use our in-depth knowledge of the market, plus a portfolio of over 15 loan providers, to match you with the loan that is best for you.

Simply complete our simple application form and we’ll provide you with the relevant rates and prices, repayment terms and other important details that will help you to compare loan options.

Here’s a useful comparison table, highlighting some of the differences when you apply with CashLady:

Cash Lady Satsuma Loans
Representative APR% 1272 1575%
Loan Duration Up to 12 months Up to 12 months
Repay Early Yes Yes
Panel of Lenders? Yes No
Loan Options (Number of Lenders) 15 1

How to contact Satsuma Loans

Telephone

0800 694 0004 or 0330 303 2000

Email

Email using ‘contact us,’ form on website

Registered Address

onlinecustomercare@satsuma-loans.co.uk

Registered Address

1 Godwin Street
Bradford
BD1 2SU


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Representative 1272% APR
Representative Example
Amount borrowed: £250 for 3 months
Number of repayments: 3
Interest rate p/a: 292% (fixed)
Each repayment amount: £137.21
Total amount repayable: £411.63
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