Satsuma Loans FAQ
Before you submit an application for a Satsuma loan, you should be loaded with information regarding the lending company. This Satsuma Loans FAQ covers some of the most questions that are popular. It covers things that are essential know about the lending company, the loans and what it is prefer to be a debtor.
Satsuma Loans is really a trading title of Provident Personal Credit Ltd.
Provident is really a well-known provider of loans, dating back to 1880.
Today, Provident will continue to operate being a home loan provider. Satsuma may be the brand name for Provident’s on the web loans.
The subscribed workplace is:
1 Godwin Street Bradford BD1 2SU
Provident is registered utilizing the Financial Conduct Authority. And that can be located regarding the Financial Services join utilizing the guide number 002529.
What type of loans do Satsuma loans offer?
Satsuma is really a provider of short-term loans.
You’ll borrow anything from ВЈ100 to ВЈ1,000, at the mercy of approval.
These are instalment loans, supplied over regards to between 3 and one year. A lengthier payment term allows you to distribute the fee, with more workable repayments but could keep you with debt for longer.
Longer loans terms additionally end in a bigger total repayment.
Then you might pay back ВЈ49.20 per month and ВЈ147.60 overall if you borrow ВЈ100 from Satsuma over a 3-month term. Nevertheless, the loan that is same one year might suggest a complete payment of ВЈ199.20. The monthly repayments are a more manageable ВЈ16.60 over 12 months.
These instalment loans may also be paid back weekly.
What’s the APR of a Satsuma loan? How to make an application for that loan from Satsuma?
Satsuma loans are given at A apr that is representative ofper cent.
This implies that at minimum 51percent of customers must achieve this APR or better.
You can apply online for the Satsuma loan.
There is certainly that loan calculator regarding the Satsuma site. You can make use of this an estimate that is rough of total repayment, and month-to-month or regular instalments. The cost that is actual of loan may be different. Rates of interest usually are determined after your circumstances that are individual been taken into consideration.
Once you understand just how much you’d like to borrow, long you would like to borrow for, you can easily feel the online application.
offer some individual and details that are financial.
In the event the loan is authorized, Satsuma claims that could possibly be in your account within an hour or so.
Are there minimal requirements to fulfill?
To qualify for a Satsuma loan, you need to fulfill criteria that are certain.
:
В· Be between 18 and 74 years old.
В· Have A british bank account and debit card.
В· Be a UK resident.
В· Not be bankrupt.
Whilst some providers of have income that is minimum, Satsuma doesn’t publish one. This means you can use also on a decreased earnings but does not always mean that you’ll be provided that loan that you simply cannot pay for.
You should make use of financing affordability calculator to choose realistic loan terms.
Will Satsuma run a credit check?
A credit check is a component for the decision-making procedure.
To become considered for a loan, you shall want to give approval to be accessed.
Satsuma is really a responsible loan provider and can look at your credit report for indications you borrow that you can afford to repay what. You may be authorized for a financial loan, regardless of if your score isn’t perfect.
Satsuma checks your credit history with Experian.
Is Satsuma a trustworthy lender?
As being a Provident brand name, Satsuma is a trusted loan provider.
Provident loans happen given to significantly more than 130 years.
Other Provident brands consist of Vanquis Bank, well understood for their bank cards.
Satsuma Loans was launched in 2013. The Satsuma web site states that a lot more than 90,000 loans are actually granted annually.
The lending company is regulated and authorised by the Financial Conduct Authority.
Loan reviews given by clients are often positive.
Satsuma makes use of Reviews.co.uk to gather feedback from the clients, with 83% of reviews having a 5* rating as of January 2017.
Many borrowers mention a straightforward, fast and borrowing experience that is easy.
Satsuma has a separate UK call centre.
Just how are loan repayments taken? What the results are if I cannot repay my loan?
Your loan is going to be paid back utilizing Continuous Payment Authority (CPA). This enables the lending company to simply take funds from your money, regular or month-to-month, without seeking authorization every time.
A right is had by you to withdraw Continuous South Carolina title loans Payment Authority, but it’s still accountable for the debt.
You will need to contact Satsuma to make alternative arrangements if you wish to withdraw.
Satsuma will concur all repayments to you prior to the loan is finalised. This implies you will get a summary of payment dates and quantities to ensure shocks.
If you’re struggling in order to make repayments, you should work quickly.
You should first contact Satsuma, alert to your problems.
Contacting the lending company is not effortless. But, a duty is had by them to greatly help. They need to work in a reasonable and way that is responsible.
Satsuma might be able to arrived at an agreement that is informal to assist you along with your cash issues. temporarily pause your repayments or could stop further interest from being put into the debt.
Another possibility your weekly or repayments that are monthly be paid down, aided by the debt spread over an extended loan term.
Loan providers don’t have any obligation to cut back the quantity which you owe stop interest from being added. But, allow you to find a good and solution that is reasonable.
Should this be not sufficient, you may want to contact a financial obligation charity free of charge financial obligation advice.
contact Satsuma?
You can easily contact Satsuma by phone. Phone 0800 694 0004.
representatives can be obtained from through until Saturday monday.