an advance loan for bad credit may be an alternative from some loan providers, nonetheless Satsuma don’t offer money loans вЂ“ our loans procedure is completely online.
Then we do look at more than just your credit score when assessing your application, which means we consider applicants who may have an adverse credit history if you are considering applying for our short term loan. But, our loans are deposited as a banking account, perhaps maybe not given out in money.
For those who have a bad credit history, or no credit score, you could find youвЂ™re turned away by some loan providers. At Satsuma, we also think about your income that is annual and, alongside every other monetary commitments you might have. Nonetheless, our loan interest levels are more 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 it a cash loan that is payday?
Payday advances are generally extremely short term installment loans that are often given out for a passing fancy time you use, but must then typically be reimbursed within a few 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 one year to settle your loan.
Exactly how much could I borrow?
Influenced by the quantity you will need, Satsuma short term installment loans permit you to borrow between ВЈ100 – ВЈ1,000, susceptible to affordability. It is possible to distribute the fee over 3 to one year, rather than the need to repay the entire quantity in one lump sum payment.
Will i want a credit check?
We only provide loans at the mercy of a credit check, nevertheless when evaluating your eligibility, we additionally consider various other facets with regards to your individual finances and circumstances.
Which means a credit that is limited or an undesirable credit history wonвЂ™t fundamentally mean the job is refused.
Some differences when considering money loans and a Satsuma temporary loan
If youвЂ™re re searching for a loan that is compensated and repaid by actually handing over money, a Satsuma loan will never be the proper solution for you вЂ“ we just offer short term installment loans, with payments made straight into your money. This is basically the biggest distinction from a advance loan and a Satsuma short-term loan.
Having a Satsuma short-term loan, afterward you repay the income you borrow in accordance with the routine you decide on during the outset (3-12 months). We collect your regular or payment that is monthly the debit card details you provided us through your application.
Some popular features of a term that is short from Satsuma:
- Your repayments are extracted from your debit card immediately
- The entire procedure is carried down online вЂ“ you need assistance though we do have a dedicated contact centre too should
- No guarantor is required. WeвЂ™ll never request you to find an individual who will pay your loan if you canвЂ™t. The contract we make is simply between you and ourselves
- Even while a customer that is new you are able to borrow as much as ВЈ1,000, at the mercy of affordability
Just how to use
To try to get a Satsuma term that is short, fill out our online application and weвЂ™ll deal aided by the entire process from start to finish.
Common questions about Money Loans
what exactly is a advance loan meaning?
These kind of loans usually are unsecured and they are given out in money because of the loan provider. Satsuma are particularly dissimilar to this, although our loans will also be unsecured, we have been an online operator from initial application to last payment, which means that we spend the cash straight into your bank account.
Can you receive a money loan by having a CCJ?
This will harm your credit score and can make getting http://www.paydayloansgeorgia.net credit quite difficult if you have a County Court Judgement (CCJ. With Satsuma nevertheless, the job may be considered, despite having a CCJ on the credit report. Utilize our eligibility checker getting an indication if youвЂ™re likely to be accepted, this will not damage your credit rating.
Can you obtain 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 British residents aged 18 or higher, by having a legitimate British banking account and debit card.