Satsuma Payday Loans
Satsuma is a member of the FCA and is a part of the Provident Financial Group. Therefore, you get the reassurance of over 130 years of lending experience.
It offers small loans of anything between £100 and £1,000. Repeat customers can however apply for loans up to £2000.
What Are Satsuma's USP’s?
- Loans are relatively small and as such are repaid weekly over 13, 26 or 39 weeks.
- Repayments are flexible
- The application process involved you having to speak to a customer care person, it’s not all online
- There are no hidden charges
The Application Process
The online loan calculator will help you see what your repayments would be per the loan that you want. You then apply for your loan online. You will need to have to hand a valid email address and mobile number, address information for the past three years, your income and all outgoings, your bank account and debit card information and a bank account that supports faster payments.
Once you have completed the online application form you will receive a phone call to confirm your details and ability to pay. The call centre is open from Monday to Friday 8-6pm and on a Saturday between 8.30-3pm. Your online application can be completed anytime of the day or night but the call from the customer care team will only happen during the hours stated above.
Once agreed, the money will then be in your bank account. If you do not have faster payments then transfers can take up to 4 working days.
Throughout the process you will be credit checked. Satsuma work with the following credit reference agencies-Experian and Call Credit to check your credit.
There are no hidden charges or late payment fees. However it is worth remembering that if you miss a payment or make late payments it could harm you getting credit in the future.
Your first weekly repayment is taken out 7-13 days after the loan is made. This is taken from your bank account by Continous Payments Authority (CPA) which essentially is your permission to taka the money from your account. It is possible to repay early. You can agree the day that the money is repaid, that day can be altered once you are in the process. No payments can be taken online at the moment.
You must be aged between 18 and 74, be a UK resident, not be bankrupt, agree to a credit check and complete a successful call with the customer care team.