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

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

Borrow ?100 – ?1,000, at the mercy of affordability

Representative 535%? APR.

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

What are Short Term Installment Loans?

This contrasts along with other kinds of borrowing, such as for instance mortgages and auto loans, that are removed for larger levels of money which you typically pay off over a long period.

You may find you have limited access to loans from some high street lenders or banks if you have a less than perfect credit history. With Satsuma, we consider more than simply your credit score when it comes to you for a temporary loan, meaning you could nevertheless be accepted despite having lower 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 along with other traditional lenders, we’re able to assist. At Satsuma, you can borrow between ?100 and ?1,000 and repay over a period between 3 to 12 months if authorized.

We try not to charge charges for missed or late repayments, you simply pay off that which you agree upfront. But, we nevertheless charge mortgage loan in the cash you borrow. It is additionally well well worth noting that Satsuma really are a high-interest loan provider, so please simply just simply take this under consideration before you apply for a loan with us.

Our application procedure could be completed online, and – subject to affordability checks you a decision and have the funds in your account on the same day– we can even give.

No concealed fees

Our reviews

Our clients speed us 4.68 out of 5. Reviews.co.uk, July 2019

Decide to try our loan calculator

Verify that you will be qualified

We could tell you whether you’re apt to be accepted for the term that is short, without making a difficult impact in your credit history.

With Satsuma you will find away if you’re eligible before using. Even although you have reputation for bad credit, you’ll get an eligibility decision within one minute. You aren’t obliged to just just take away that loan and there won’t be accurate documentation from it in your credit report.

Should you choose opt to apply a short while later nevertheless, after that your application will demand a complete credit check.

To check on, fill down this form and we’ll give you an instantaneous decision, at the mercy of affordability.

Check always just before use

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

Protect your credit rating

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

Finish the full application

If you decide to use, we’ll then run a complete credit check that will keep a mark in your credit report

Are Satsuma an immediate loan provider?

Satsuma is a primary loan provider, which means that we spend the agreed loan amount directly into your bank account, then manage it right until the payment that is final. Nonetheless, we do on occasion usage agents too.

What’s the difference between short term installment loans and payday advances?

While they can seem comparable, there are many differences when considering short term installment loans and loans that are payday.

Unlike payday advances, which needs to be paid back in a single swelling amount within a couple weeks of taking right out the mortgage, repayments for a Satsuma term that is short could be built in regular or month-to-month instalments, during a period of between 3 to one year.

It over for an additional month, you can be charged an additional fee or have increased interest added on to your payments if you miss a repayment on a payday loan or roll. You’ll not spend any extra costs on a Satsuma short-term loan, just what’s agreed upfront.

But, even as we pointed out earlier in the day, we have been a top interest loan provider this means our interest levels are a lot more than old-fashioned high-street loan providers. A thing that is highly recommended very carefully if you’re thinking about a Satsuma loan.

Can a term that is short be great for my credit score?

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

In the event that you spend your loan straight back underneath the terms consented whenever you took it away, and then make your entire repayments on time, this assists to boost your credit score. If, having said that, you may be belated with re re re payments or miss them totally, this may damage your credit history.

You should also consider how these are managed if you have other lines of credit open. payday loans West Virginia If repayments are missed somewhere else then this may have a negative affect your credit history.

Nevertheless, you will find exceptions to think about: if a specific business views short-term (or payday) loans adversely, then having this in your credit score may potentially count against you.

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