Short term installment loans are a method to borrow a sum of cash and repay it in a space that is short of.


Short term installment loans are a method to borrow a sum of cash and repay it in a space that is short of.

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

Representative 535%? APR.

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

Exactly what 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 years.

For those who have a sub-standard credit rating, you will probably find you’ve got restricted access to loans from some high-street loan providers or banking institutions. With Satsuma, we glance at more than simply your credit rating when it comes to you for the temporary loan, meaning you could be accepted despite having significantly less than favourable credit.

Why choose Satsuma?

If you’re trying to find a brief term loan but have restricted access to credit from banking institutions as well as other high-street loan providers, we’re able to assist. At Satsuma, you might borrow between ?100 and ?1,000 and repay over a length between 3 to one year if authorized.

We try not to charge charges for missed or payments that are late you simply pay off that which you agree upfront. But, we nevertheless charge mortgage loan from the money you borrow. It is additionally well well well worth noting that Satsuma are a definite lender that is high-interest so please just just simply take this into account before you apply for a loan with us.

Our application procedure may be completed online, and – subject to affordability checks – we are able to also offer you a choice and also have the funds in your bank account on a single time.

No fees that are hidden

Our reviews

Our customers rate us 4.68 out of 5. Reviews.co.uk, July 2019

Decide to try our loan calculator

Verify that you’re qualified

We could inform you whether you’re probably be accepted for a short-term loan, without making a tough impact on the credit history.

With Satsuma you will find down if you’re qualified before using. Even although you have past reputation for bad credit, you’ll get an eligibility choice within one minute. You’re not obliged to simply simply simply take away that loan and there won’t be accurate documentation of it in your credit history.

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

To test, fill this form out and we’ll give you an immediate decision, at the mercy of affordability.

Check always just before use

Provide us with a couple of details and you’ll find down in 60 moments if you’re probably be accepted

Protect your credit rating

Irrespective of the total outcome, it will not influence your credit rating until you decide to use

Finish a 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 lender, which means that we spend the agreed loan amount straight into your bank account, then manage it right until the payment that is final. But, we do on occasion usage agents too.

What’s the difference between short term installment loans and pay day loans?

Even though they are able to appear comparable, there are numerous differences when considering short term installment loans and pay day loans.

Unlike pay day loans, which should be paid back within one lump sum payment within a couple weeks of taking right out the mortgage, repayments for a Satsuma temporary loan may be manufactured in regular or month-to-month instalments, during a period of between 3 to 12 months.

In the event that you skip a payment on an online payday loan or move it over for an extra thirty days, you will be charged an extra cost or have actually increased interest added on to your repayments. You won’t pay any extra fees on a Satsuma term that is short, just what’s agreed upfront.

Nevertheless, once we pointed out early in the day, we have been a top interest loan provider this means our interest levels are much greater than conventional high-street loan providers. A thing that should be thought about very carefully if you’re thinking about a Satsuma loan.

Can a term that is short be good for my credit history?

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

You took it out, and make all your repayments on time, this can help to improve your credit rating if you pay your loan back under the terms agreed when. If, having said that, you might be belated with re payments or completely miss them, this could damage your credit history. payday loans Utah

You should also consider how these are managed if you have other lines of credit open. Then this will have a detrimental impact on your credit rating if payments are missed elsewhere.

Nevertheless, you can find exceptions to take into account: then having this on your credit history could potentially count against you if a particular company sees short term (or payday) loans negatively.