a advance loan for bad credit may be a choice from some loan providers, nonetheless Satsuma try not to provide money loans вЂ“ our loans procedure is totally online.
If you’re considering trying to get our temporary loan, then we do glance at more than simply your credit rating whenever evaluating the application, which means that we think about candidates and also require a bad credit score. But, our loans are deposited into a bank-account, perhaps perhaps not settled in money.
You may find youвЂ™re turned away by some lenders if you have a poor credit score, or no credit history. At Satsuma, we also think about your income that is annual and, alongside some other economic commitments you could have. Nonetheless, our loan rates of interest are greater than those charged by loan providers such as for instance high-street banking institutions.
We need you to be as accurate as possible with the details you give us, so we can use all this information to give you an offer which is affordable when you apply.
Is this a cash loan that is payday?
Pay day loans are usually extremely short term installment loans that are often settled on a single time you use, but must then typically be repaid within 2-3 weeks.
We are not a payday cash loan provider although we offer an instant decision on all loan applications and provide an eligibility decision within 60 seconds .
At Satsuma, we provide you with between 3 and 12 months to settle your loan.
Exactly how much may I borrow?
Influenced by the total amount you want, Satsuma term that is short permit you to borrow between ВЈ100 – ВЈ1,000, at the mercy of affordability. You can easily distribute the fee over 3 to one year, as opposed to having to repay the amount that is whole one swelling amount.
Will i want a credit check?
We just provide loans at the mercy of a credit check, however when evaluating your eligibility, we also account for various other facets with regards to your finances that are personal circumstances.
Which means that a restricted credit score or an undesirable credit history wonвЂ™t necessarily suggest the application is refused.
Some differences when considering money loans and a Satsuma temporary loan
If youвЂ™re searching for an advance loan this is certainly paid and paid back by actually handing over money, a Satsuma loan won’t be the best solution we only provide short term loans, with payments made directly into your bank account for you. This is actually the difference that is biggest between a advance loan and a Satsuma short-term loan.
With a Satsuma term that is short, afterward you repay the funds you borrow based on the routine you select during the outset (3-12 months). We gather your regular or payment that is monthly the debit card details you provided us through your application.
Some options that come with a short-term loan from Satsuma:
- Your repayments are obtained from your debit card immediately
- Your whole procedure is online payday AK carried away online вЂ“ though we do have a separate contact centre too should you may need help
- No guarantor will become necessary. WeвЂ™ll never request you to find a person who pays your loan if you canвЂ™t. The contract we make is between both you and ourselves
- Even while a new consumer, you are able to borrow as much as ВЈ1,000, susceptible to affordability
How exactly to use
To use for a Satsuma temporary loan, fill out our online application and weвЂ™ll deal with all the entire process from beginning to end.
Typical questions about Money Loans
what exactly is a loan meaning?
These kind of loans usually are unsecured consequently they are paid in money by the loan provider. Satsuma have become dissimilar to this, although our loans will also be unsecured, our company is an online operator from initial application to last payment, this means we spend the cash directly into your account.
Can a cash is got by you loan with a CCJ?
This will harm your credit score and can make getting credit quite difficult if you have a County Court Judgement (CCJ. With Satsuma nevertheless, the job may nevertheless be considered, despite having a CCJ on your own credit report. Utilize our eligibility checker to obtain a sign if youвЂ™re likely to be accepted, this doesn’t harm your credit rating.
Can you can get a money loan whilst being unemployed?
We possibly may additionally consider carefully your application that you can meet the repayment schedule and pay back everything you borrow, plus interest if you are unemployed, but you will have to prove. Our minimal requirements are that borrowers are UK residents aged 18 or higher, by having a UK that is valid bank and debit card.