Representative 535%​ APR.

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Satsuma offer short term loan alternatives to payday loans. Payday loans are short term loans that need to be repaid in a single lump sum along with the interest and any other fees the lender has charged. Satsuma’s loans span from £100-£1000 (subject to affordability) and can be repaid over 3-12 months.

Our loan calculator shows exactly what you'll repay


Why choose Satsuma?

No hidden fees

Only ever pay back the amount we agree upfront

Money in 1 hour

If approved, in most cases hourly pay-outs between 6am - 11pm

Our reviews

Our customers rate us 4.68 out of 5., July 2019

Applying with Satsuma

Check before you apply

Give us a few details and you’ll find out in 60 seconds if you’re likely to be accepted

Protect your credit score

No matter the result, it won't affect your credit score unless you choose to apply

Complete a full application

If you choose to apply, we’ll then run a full credit check which will leave a mark on your credit file

What is a payday loan?

It's a high interest loan lent on a very short term basis. This type of loan can be subject to extra fees.

Despite the high interest rates and fees, a payday loan can work out well if you’re certain you’ll have the money available on the due date to repay the loan in full. However, some people may find (to their cost) when it’s time to repay, their circumstances have changed and they can’t manage a lump sum payment. 

  • Payday loans are loans paid directly into your bank account, usually on the same day.
  • Unlike other types of finance, a payday loan must be repaid as one lump sum payment, usually within 30 days.
  • They’re called payday loans because they’re designed to cover a temporary shortfall or financial emergency until the borrower’s next pay day.
  • We’ll look at this in more detail below, but a payday loan should not be confused with a short term loan. Short term loans are paid back over a longer period (up to a year) and are paid back in instalments over a longer period of time

Why is Satsuma different?

Satsuma offer short term loans which are designed to be repaid over 3-12 months, unlike payday loans which are paid in full on your next payday.

You also only ever pay back the sum of money you borrow, plus the interest. You never have to pay any hidden charges or fees, even if you miss a payment. This makes our short terms loans very different from those offered by payday loan companies.

With a Satsuma short term loan:

  • You don’t have to pay the loan back in one lump sum.
  • You know exactly how much you’re borrowing before you submit your application.
  • The cash will be in your bank account the same day your application is accepted.
  • You’ll never be charged any extra fees.
  • You can choose to pay either weekly or monthly.
  • You can repay your loan in instalments over a period of up to a year.
  • You can borrow up to £1,000 (subject to affordability), even if you’re a new customer.
  • Our friendly Customer Care team is always available if you run into difficulties.

One of the biggest differences is you have more time to pay your loan back. You can choose to repay your loan over any period from three months to a year. You can also choose whether to repay in monthly or weekly instalments. Whichever is the most convenient for you.

We transfer the money to your account via Faster Payments. If you’re accepted between 6am and 11pm, the funds normally land in your account within the hour**. This can be really useful if you need the money for something urgent.

How do I repay my Satsuma short term loan?

Repaying your short term loan is straightforward. We collect repayments by Continuous Payment Authority (CPA).

You choose a convenient day of the month or week, and we simply collect your repayments automatically from your debit card. If we’re unable to collect your repayment, we’ll always get in touch. We certainly won’t try to collect the repayment again without speaking to you or attempt to collect more than your contractual repayment.

It’s this flexibility that helps make us the smart alternative to payday loans.

Are Satsuma a direct lender?

Yes, we are. But what does this mean?

It means we pay out and manage your loan. Why is this important?

There are other companies which act as loan brokers, but when you borrow from a direct lender like Satsuma, you deal with the same company throughout the process.

If there are any issues or you have any questions you can call our friendly customer services team on 0800 694 0004.

What happens if my circumstances change?

We understand personal circumstances can change at any time; for example, you might suddenly suffer an unexpected drop in income. Our Customer Care team is only a phone call away, so if you’re struggling to pay on time, let us know.

We want to talk to you and help you get back on track. Unlike other companies, we won’t put you through to a robot or a never-ending series of automated menus. The help and support we offer is provided by real people in our UK-based call centre. Our team wants to get to know our customers and their circumstances, and help them achieve a positive outcome.

Remember, unlike many other lenders, we’ll never charge you a penny more than you agree upfront. Not even if you miss a payment or pay us back late. We don't charge fees or have any hidden charges. We only charge you interest and you know exactly how much that will be from the get go.

How do I apply for a loan?


Click this button!

What do our customers say?

We're rated 4.73 out of 5 by our customers.*

Ready to get started?


*, October 2018