Representative 535% APR.
If you’re considering applying for a loan, you could borrow up to £1,000 with a short term loan from Satsuma, subject to affordability.
We don’t charge hidden fees meaning you only pay back what you agree upfront. You can choose to repay the loan over a period of 3 to 12 months, either in weekly or monthly instalments. Before making a decision, it’s important to find a loan that’s best suited to your circumstances.
Why choose Satsuma?
At Satsuma, we will consider your application even if you have a poor credit score. We look at more than just your credit score, as we also take affordability and your current circumstances into account. Our loans are unsecured too, meaning we’ll never ask you for a guarantor or put up any property as security.
Applying for a £1,000 loan with us can be done online, while we aim to give you an initial decision within 60 seconds. Our loans are available for amounts between £100 and £1,000, with flexible repayment periods of between 3 and 12 months, and we don’t charge any fees for late or missed payments. Only pay back what you agree upfront.
However, we are a high interest lender. If you are thinking of applying, this is something you may wish to take into consideration.
Try our loan calculator
Before you apply for any loan, it’s always worth checking the repayment terms and interest rates, to make sure it’s affordable. The Satsuma loan calculator will help you work out how much the monthly installments and total repayments will be on the amount you need to borrow.
Use the sliders to adjust the loan amount or repayment period to find a repayment schedule that best suits your needs.
Check if you're eligible
At Satsuma, we only consider applicants from UK residents aged 18 or over, who are not bankrupt and agree to a credit check.
When you apply, you’ll also need to give us the following information:
- A valid email address and mobile number
- Your home address information for the past 3 years
- Details of your regular income and outgoings
- Your bank account and debit card information
If you meet this minimum criteria and continue to the final part of the application, we’ll then carry out a full credit and affordability check before making our final decision. In addition to this, we may also ask you to provide 3 months’ worth of pay slips as part of our income verification process.
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*
What are the different borrowing amounts?
Satsuma provide loans for amounts between £100 and £1,000, which must be repaid in weekly or monthly instalments between 3 and 12 months. Subject to affordability.
The interest charged on our short term loans, which will affect the monthly repayments and the amount you pay in total, will depend upon the amount you borrow, the length of your repayment period and your current circumstances.
What are the features of a Satsuma £1,000 loan?
As part of our short term loans, you could borrow up to £1,000 even if you have poor credit. If you are thinking of applying, please note some of the features:
- You can make weekly or monthly repayments over 3 to 12 months
- No extra fees or charges, so you only repay the amount agreed when you applied
- No guarantor or security is needed.
- Satsuma is a direct lender, so you’ll only ever deal with us. Although in some instances we do use brokers
As a responsible lender, all our loans are subject to credit and affordability checks.
Will my credit score impact my offer?
Before making a final decision on whether to lend to you, all lenders use the information held by one of the 3 main credit reference agencies – Equifax, Experian or TransUnion – along with the details gathered in your application.
At Satsuma, we use your credit score as part of the application process, but we also take into account affordability and your current circumstances, which means we consider a £1,000 loan to bad credit applicants.
If your application is accepted, your credit score can affect the terms of your loan, including the amount of interest you need to repay - in general, having a lower credit score could mean you’ll be charged a higher rate of interest on your loan.
At Satsuma, we set a high interest rate on our loans to reflect the fact that we will lend to people with a poor credit score.
If approved, when will I receive my funds?
If your application is approved, the money could be paid directly into your account on the same day. You’ll then need to repay the loan, with interest, in weekly instalments over 3 to 12 months.
How to Apply
Applications for Satsuma short term £100 to £1,000 loans are carried out online from start to finish. To apply, visit our application page and use our online loan calculator to work out the amount you could borrow along with a suitable repayment schedule.
If this initial application is approved, we’ll then need a few more details before running a full credit and affordability check. If we agree to lend to you, the loan will be paid directly into your account and repayments will be automatically taken as per the agreed schedule.
* 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 old and have a valid UK bank account and debit card.