If you’ve been searching for information on applying for a QuickQuid loan you may be aware the company has now gone into administration. This means that since October 2019 they’ve no longer been able to offer finance to new customers. You’re not now able to apply for a QuickQuid loan.
Satsuma provide short term loans of between £100 and £1,000 subject to affordability, which are repayable over 3 to 12 months.
Why choose Satsuma?
Who are Satsuma?
Satsuma Loans is part of Provident Personal Credit Limited who have been operating for over 130 years.
Our Loan calculator
You can use our loan calculator to see what your repayments are likely to be on the loan amount you need, just adjust the sliders and time periods to see which suits your needs.
Choose the loan for you
Check before you apply with Satsuma
Satsuma do credit checks when you apply for a loan. Quickquid also used to. The result of this credit check will play a part in the approval process of your loan. But we understand you may be worried about a credit check, especially if you've had credit issues in the past.
Satsuma has a free way to find out if you could be accepted for a loan without affecting your credit rating.
As a responsible lender we want to ensure you only borrow money you can afford to repay. We don't want you taking on unnecessary debt.
But it isn't all about your credit rating. Even if you have had credit issues in the past.
When considering your application we don't just look at your credit history. We will consider your personal circumstances even if you have a current CCJ.
How it works
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*
How do Satsuma loans differ from QuickQuid loans?
QuickQuid offered very short term loans of up to £1,000. Typically, the loan was repaid over 1 to 3 months.
Satsuma too offer loans to new customers of up to £1,000 subject to affordability. However, If approved you then have the option of repaying your Satsuma loan over a period of between 3 and 12 months. You can also choose whether to repay monthly or weekly.
Some features of a Satsuma loan
We’ve briefly outlined the type of loan you can apply for from us. But let’s look at Satsuma loans in a little more detail.
The process from application to completion for a Satsuma short term loan is completed online and, if approved we can transfer the loan amount into your bank account on the same day.
Our loan amounts
As a new customer you can borrow up to £1,000 subject to affordability. The minimum amount you can borrow from us is £100.
How do I repay my loan?
You can choose to repay your loan in monthly or weekly instalments. Your repayments can be made over a minimum period of 3 months and a maximum of 12 months.
Your repayments are made using Continuous Payment Authority. This process automatically takes payment from your debit card on the date you agreed with us. This means you don’t have to worry about setting up a direct debit or have to remember to send us a payment every month.
What are the costs of a Satsuma loan?
We never charge extra fees. Even if you miss a repayment. We will only ever ask you to repay the amount that you agree when you take out a loan. This includes the sum of money you borrow plus interest. You can see exactly how much a Satsuma loan will cost you by using our loan calculator (below). Satsuma are a high interest lender however, this should be considered if applying for one of our loans.
What about credit checks?
Satsuma will do a credit check when you apply for a loan. All lenders do this. The result of this credit check will play a part in the approval process of your loan. But we understand you may be worried about a credit check, especially if you've had credit issues in the past.
But it isn't all about your credit rating. Even if you’ve had credit issues in the past. When considering your application, we don't just look at your credit history. We’ll consider your personal circumstances even if you have a current CCJ.
However, we’ll only approve your loan application if we think you’re able to afford the repayments.
Applying for a Satsuma loan?
Applying for a loan from Satsuma is a three-step process:
1) Use our loan calculator to see how much your repayments will be on the sum you want to borrow.
2) Check to see if you’re eligible for a loan before you apply.
3) Complete the online application.
* 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.
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