Borrow ВЈ100 – ВЈ1,000, at the mercy of affordability
Representative 535%​ APR.
Warning: belated payment may cause you severe cash issues. For assistance, head to moneyadviceservice.org.uk
What exactly are Short Term Installment Loans?
Short term installment loans are a method to borrow a sum of cash and repay it in a quick period of time. This contrasts along with other kinds of borrowing, such as for example mortgages and auto loans, that are removed for bigger quantities of cash which you typically pay off over a long period.
When you have a very poor credit score, you might find you have restricted access to loans https://installmentloansindiana.net/ from some traditional loan providers or banking institutions. With Satsuma, we check more than simply your credit rating when it comes to you for the term that is short, meaning you could nevertheless be accepted despite having significantly less than favourable credit.
Why choose Satsuma?
If you’re looking a quick term loan but have restricted access to credit from banking institutions along with other traditional loan providers, we’re able to assist. At Satsuma, you could borrow between ВЈ100 and ВЈ1,000 and repay over a length between 3 to one year if approved.
We usually do not charge costs for missed or payments that are late you simply pay off that which you agree upfront. Nonetheless, we nevertheless charge mortgage loan regarding the cash you borrow. It is additionally well worth noting that Satsuma really are a high-interest loan provider, so please take this into account before using for a financial loan with us.
Decide to try our loan calculator
We are able to tell you whether you’re probably be accepted for the short-term loan, without making a tough impact in your credit report.
With Satsuma you will find down if you’re qualified before using. Even though you have a past history of bad credit, you’ll get an eligibility choice within one minute. You aren’t obliged to just just take down that loan and there won’t be an archive of it in your credit history.
Should you opt to use a short while later nevertheless, in that case your application will demand a complete credit check.
To check on, fill down this form and we’ll give you an immediate decision, at the mercy of affordability.
Check always just before apply
Provide us with a details that are few you’ll find away in 60 moments if you’re probably be accepted
Protect your credit rating
Irrespective of the total result, it will not affect your credit history until you decide to use
Finish the full application
Then run a full credit check which will leave a mark on your credit file if you choose to apply, we’ll
Are Satsuma a lender that is direct?
Satsuma is an immediate loan provider , which means that we spend the agreed loan amount straight into your account, then manage it right until the last repayment. But, we do on occasion usage agents too.
What’s the difference between Short Term Loans and pay day loans?
While they are able to appear comparable, there are lots of differences when considering short term installment loans and pay day loans.
Unlike pay day loans, which needs to be paid back in a single lump sum payment within 2-3 weeks of taking right out the mortgage, repayments for a Satsuma term that is short are manufactured in weekly or monthly instalments, over a length of between 3 to 12 months.
It over for an additional month, you can be charged an additional fee or have increased interest added on to your payments if you miss a repayment on a payday loan or roll. You won’t spend any extra charges for a Satsuma term that is short, only what’s agreed upfront.
Nevertheless, we are a high interest lender which means our rates of interest are much higher than traditional high street lenders as we mentioned earlier. A thing that should be thought about very very very carefully if you’re thinking of a Satsuma loan.
Can a term that is short be good for my credit history?
The theory is that, any loan you are taking down – a short-term loan or otherwise – might have an impression on the credit history. You manage your repayments whether it has a positive or negative impact depends upon how.
You took it out, and make all your repayments on time, this can help to improve your credit rating if you pay your loan back under the terms agreed when. If, having said that, you might be late with re re payments or miss them completely, this might damage your credit history.
For those who have other personal lines of credit available, opt for just how they are handled. If repayments are missed somewhere else then this may have a negative impact on your credit history.
But, you can find exceptions to take into account: if a specific company views short-term (or payday) loans adversely, then having this on your own credit score may potentially count against you.