Differences between Satsuma and Peachy
If you’ve been searching for information on applying for a Peachy loan you may be aware the company has now gone into administration. This means they’re no longer able to offer finance to new customers. You’re not now able to apply for a Peachy loan.
Satsuma provide short term loans of between £100 and £1,000 subject to affordability, which are repayable over 3 to 12 months.
Satsuma short term repayment options
Satsuma loans, if approved, can be repaid either weekly or monthly. Dependent on your own circumstances, you may prefer one over the other. This is not an option with some lenders.
We don't charge any additional fees whatsoever. This includes late fees, arrangement fees or processing charges.
If it’s right for you, we try to say yes
First and foremost, we’re responsible. We always try to check that a Satsuma loan is right for you. We never want you to borrow more than you can afford to repay.
With Satsuma, you can check to see if you’re likely to be accepted before you apply and without affecting your credit rating*.
We don't just rely on a credit report. If you apply for a short term loan from us, we’ll look at your personal circumstances and make a decision that includes whether you have a low income or CCJ.
With Peachy, you needed to have more than £600** coming in each month before they would consider you for a loan. Also, if you’ve had a CCJ** in the last 6 years your application would be automatically rejected.
Check before you apply
With Satsuma you can check whether you’re likely to be accepted for a loan without impacting your credit rating.
Satsuma allows you to see if you’ll be accepted, before committing to the full application – without affecting your credit rating*. If you do choose to complete a full application for a Satsuma loan after checking, we are then required to complete a full credit search which is visible on your credit file.
We check your info
It's not a full application so we only need a few details
Protect your credit score
No matter the result, it won't affect your credit score unless you choose to apply
Give you your result
You'll find out in 60 seconds. We'll need to check your details if you choose to apply*
Applying for a loan from Satsuma
Just use our loan calculator to decide how much you need to borrow. Then complete our online application process. Don't forget you can check before you apply.
As a new customer you may be able to borrow up to £1,000, subject to affordability over a period of 3 to 12 months. To apply you need to be over 18, a UK resident and not be bankrupt. Make sure you also have a note of your regular income and outgoings, your debit card and bank account details and personal information including name, address and mobile phone number.
Choose the loan for you
*Unless you choose to apply, approval for a Satsuma Loan is subject to successful completion of affordability and identity checks. Satsuma Loans are only available to UK residents who are at least 18 years of age and have a valid UK bank account and debit card.
**Correct as of January 2020
Representative example: £480 loan repayable over 9 months. 9 monthly repayments of £106.56. Rate of interest 133.1% p.a. fixed. Representative 535% APR. Total amount payable is £959.04