Satsuma Loans FAQ
It is important to be equipped with information about the lender before you apply for a Satsuma loan. This Satsuma Loans FAQ covers some of the most popular concerns. It covers essential things to realize about the lender, the loans and just just what it is prefer to be considered a debtor.
Satsuma Loans is a trading name of Provident private Credit Ltd.
Provident is really a provider that is well-known of, dating back again to 1880.
Today, Provident continues to operate as being a home loan provider. Satsuma could be the brand for Provident’s on the web loans.
The office that is registered:
1 Godwin Street Bradford BD1 2SU
Provident is registered with all the Financial Conduct Authority. And certainly will be located regarding the Financial solutions enroll utilising the guide quantity 002529.
What sort of loans do Satsuma loans offer?
Satsuma is a provider of short-term loans.
You are able to borrow any such thing from ВЈ100 to ВЈ1,000, susceptible to approval.
They are instalment loans, supplied over terms of between 3 and one year. A lengthier payment term enables you to distribute the fee, with more repayments that are manageable could keep you in debt for longer.
Longer loans terms additionally bring about a bigger total repayment.
In the event that you borrow ВЈ100 from Satsuma more than a 3-month term, then you may pay off ВЈ49.20 each month and ВЈ147.60 overall. Nonetheless, the exact same loan over one year might suggest a complete payment of ВЈ199.20. The monthly repayments are a more manageable ВЈ16.60 online title loans Ohio over 12 months.
These instalment loans also can be paid back weekly.
What’s the APR of a Satsuma loan? How to make an application for a loan from Satsuma?
Satsuma loans are given at A apr that is representative ofper cent.
Which means at the very least 51percent of clients must accomplish this APR or better.
You can apply online for the Satsuma loan.
There was a loan calculator from the Satsuma site. You need to use this to get a rough estimate of one’s total payment, and month-to-month or regular instalments. The real price of your loan might be various. interest rates usually are determined after your circumstances that are individual been considered.
Once you understand simply how much you’d like to borrow, and exactly how very long you would like to borrow for, you are able to feel the application that is online.
You need to offer some individual and monetary details.
Should your loan is authorized, Satsuma claims that might be in your bank account within an hour or so.
Is there minimal needs to fulfill?
To be eligible for a Satsuma loan, you need to meet specific demands.
You have to:
В· Be between 18 and 74 yrs old.
В· Have a uk banking account and debit card.
В· Be a UK resident.
В· never be bankrupt.
Whilst some providers of have a minimal income requirement, Satsuma doesn’t publish one. Which means you can put on also on the lowest earnings but does not always mean you will be offered that loan which you cannot pay for.
It is vital to make use of financing affordability calculator to choose realistic loan terms.
Will Satsuma run a credit check?
A credit check is a component associated with decision-making procedure.
considered for a financial loan, you will have to provide approval to be accessed.
Satsuma is really a responsible loan provider look at your credit report for indications you could afford to repay everything you borrow. You might be authorized for a financial loan, even when your score isn’t perfect.
Satsuma checks your credit report with Experian.
Is Satsuma a lender that is trustworthy?
As being a Provident brand, Satsuma is really a trusted loan company.
Provident loans have now been given to a lot more than 130 years.
Other Provident brands consist of Vanquis Bank, well known for their charge cards.
Satsuma Loans was launched in 2013. The Satsuma internet site states that a lot more than 90,000 loans given yearly.
is regulated and authorised by the Financial Conduct Authority.
Loan reviews given by clients are often good.
Satsuma makes use of Reviews.co.uk to gather feedback clients, with 83% of reviews having a 5* rating as of January 2017.
Many borrowers mention an easy, fast and borrowing experience that is easy.
Satsuma has a passionate UK call centre.
Just how are loan repayments taken? What goes on if I cannot repay my loan?
Your loan is going to be paid back making use of Continuous Payment Authority (CPA). This permits the lending company to simply take cash from your money, monthly or weekly, without seeking authorization each time.
A right is had by you to withdraw Continuous Payment Authority, but it’s still accountable for your financial troubles.
You will need to contact Satsuma to make alternative arrangements if you wish to withdraw.
Satsuma will concur all repayments with you prior to the loan is finalised. you shall be provided with a summary of payment dates and quantities to ensure that there aren’t any shocks.
If you should be struggling to help make repayments, it’s important to work quickly.
You should first contact Satsuma, alert to your problems.
Contacting the lending company is not easy. But, they usually have . act in a reasonable and way that is responsible.
Satsuma may be able to started to a casual contract, that will help you with your cash dilemmas. They could temporarily pause your repayments or could stop interest that is further being put into the debt.
Another possibility your regular or monthly repayments could be paid down, utilizing the debt spread over a lengthier loan term.
Lenders don’t have any obligation to cut back you owe or even to stop interest from being added. But, they need to allow you to find a reasonable and reasonable solution.
If this is perhaps not sufficient, you might need to contact a financial obligation charity at no cost financial obligation advice.
How do you contact Satsuma?
you are able to contact Satsuma by phone. Call 0800 694 0004.
representatives are available from through until Saturday monday.
