Do Satsuma provide money loans for bad credit?

Do Satsuma provide money loans for bad credit?

a advance loan for bad credit may be an alternative from some loan providers, nevertheless Satsuma never provide money loans – our loans procedure is totally online.

If you should be considering trying to get our short-term loan, then we do view more than simply your credit history when assessing the application, this means we think about candidates and also require a detrimental credit score. But, our loans are deposited in to a banking account, perhaps perhaps not given out in money.

For those who have an undesirable credit rating, or no credit rating, you could find you’re turned away by some lenders. At Satsuma, we also consider carefully your income that is annual and, alongside every other monetary commitments you might have. Nonetheless, our loan rates of interest are greater than those charged by loan providers such as for instance high-street banking institutions.

Once you use, we truly need one to be because accurate as you possibly can with all the details you provide us with, therefore we can utilize all this information to offer an offer which can be affordable.

Is this a cash loan that is payday?

Payday advances are usually extremely short term installment loans that are often given out for a passing fancy 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 one year to settle your loan.

Just how much could I borrow?

Influenced by the total amount you may need, Satsuma short term installment loans permit you to borrow between ВЈ100 — ВЈ1,000, at the mercy of affordability. You are able to distribute the fee over 3 to year, in place of having to repay the amount that is whole one lump sum payment.

Will I need a credit check?

We just provide loans at the mercy of a credit check, however when evaluating your eligibility, we additionally consider various other facets relating to your individual funds and circumstances.

This means a restricted credit rating or a poor credit history won’t necessarily suggest the job is refused.

Some differences when considering money loans and a Satsuma temporary loan

If you’re re searching for an advance loan this is certainly compensated and paid back by actually handing over money, a Satsuma loan will never be just the right solution for you personally – we just offer short term installment loans, with payments made straight into your money. This is actually the difference that is biggest from a loan and a Satsuma temporary loan.

Having a Satsuma short-term loan, afterward you repay the amount of money you borrow in accordance with the routine you select in the outset (3-12 months). We gather your regular or payment that is monthly the debit card details you provided us throughout your application.

Some options that come with a term that is short from Satsuma:

  • Your repayments are obtained from your debit card immediately
  • The complete procedure is carried down online – you need assistance though we do have a dedicated contact centre too should
  • No guarantor is required. We’ll never request you to find a person who pays your loan if you can’t. The contract we make is merely between both you and ourselves
  • Even while a customer that is new it is possible to borrow as much as ВЈ1,000, at the mercy of affordability

Just how to apply

To utilize for a Satsuma short-term loan, fill out our online form and we’ll deal aided by the entire process from start to finish.

Typical questions about Money Loans

what exactly is an advance loan definition?

These kinds of loans usually are unsecured as they are given out in money by the loan provider. Satsuma are extremely dissimilar to this, although our loans may also be unsecured, we have been an operator that is online initial application to last payment, which means that we spend the amount of money straight into your account.

Can a cash is got by you loan having 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 application may be considered, despite having a CCJ on the credit history. Utilize our eligibility checker to have a sign if you’re likely to be accepted, this doesn’t damage your credit history.

Can you obtain a money loan whilst being unemployed?

We might additionally think about your application if you should be unemployed, however you will need to illustrate that you can meet with the payment schedule and pay off all you borrow, plus interest. Our minimum requirements are that borrowers are British residents aged 18 or higher, by having a UK that is valid bank and debit card.