Do Satsuma provide money loans for bad credit?

an advance loan for bad credit might be an alternative from some loan providers, but Satsuma try not to provide money loans – our loans process is totally online.

If you’re considering trying to get our short-term loan, then we do glance at more than simply your credit rating whenever assessing the application, which means that we think about candidates and also require an undesirable credit rating. But, our loans are deposited as a banking account, perhaps perhaps not settled in money.

You may find you’re turned away by some lenders if you have a poor credit score, or no credit history. At Satsuma, we also think about your yearly earnings and outgoings, alongside any kind of monetary commitments you’ve probably. Nevertheless, 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 payday advance loan?

Pay day loans are generally extremely short term installment loans that are often given out for a passing fancy time you use, but must then typically be repaid within a couple weeks.

Although you can expect an instantaneous choice on all applications and supply an eligibility decision within one minute, we’re maybe not a payday advances loan company .

At Satsuma, you are given by us between 3 and year to repay your loan.

Simply how much am I able to borrow?

Determined by the quantity you will need, Satsuma term that is short permit you to borrow between ВЈ100 – ВЈ1,000, susceptible to affordability. You can easily distribute the fee over 3 to one year, in the place of having to repay the entire amount in one swelling amount.

Will i want a credit check?

We just provide loans at the mercy of a credit check, however when evaluating your eligibility, we additionally take into consideration some other facets about your personal funds and circumstances.

Which means a credit that is limited or an unhealthy credit history won’t always suggest the application is refused.

Some differences when considering money loans and a Satsuma short-term loan

If you’re re re searching for a cash loan that is paid and paid back by actually handing over money, a Satsuma loan will never be the best solution we only provide short term loans, with payments made directly into your bank account for you. This is actually the biggest huge difference between a loan and a Satsuma short-term loan.

With a Satsuma short-term loan, afterward you repay the cash you borrow based on the routine you select during the outset (3-12 months). We gather your regular or payment per month from the debit card details you offered us through your application.

Some attributes of a term that is short from Satsuma:

  • Your repayments are obtained from your debit card immediately
  • The complete procedure is carried down online – though we do have a separate contact centre too should you’ll need help
  • No guarantor is necessary. We’ll never request you to find an individual who will pay your loan if you can’t. The contract we make is between both you and ourselves
  • Even while a brand new client, you are able to borrow as much as ВЈ1,000, susceptible to affordability

How exactly to use

To try to get a Satsuma term that is short, fill in our online application and we’ll deal using the entire procedure from beginning to end.

Typical questions about Money Loans

what exactly is a cash loan definition?

These kind of loans are unsecured consequently they are settled in money because of the loan provider. Satsuma are particularly dissimilar to this, although our loans will also be unsecured, our company is an online operator from 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 by 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 nevertheless be considered, despite having a CCJ on your own credit history. Make use of our eligibility checker to obtain a sign if you’re likely to be accepted, this doesn’t damage your credit rating.

Can you can get a money loan whilst being unemployed?

We might 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, having a UK that is valid bank and debit card.