Please note: High-cost short-term credit is unsuitable for sustained borrowing over long periods and would be expensive as a means of longer-term borrowing.
Loans like Satsuma
Satsuma Loans – the younger, fruitier, online-only arm of established doorstep lender Provident Financial – offers short term loans that can be paid back in monthly or weekly instalments. But it's not alone – below are companies which could offer a suitable alternative to Satsuma.
Online lenders that offer similar loans to Satsuma
Since 2013, Bradford-based Satsuma Loans has been providing fast loans at high interest rates, that borrowers with a diverse range of credit scores can repay weekly or monthly. Initially billing itself as an “antidote” to payday loans, Satsuma Loans lets you spread repayment over a number of months, making for lower monthly instalments but a higher overall cost – with its sky-high APR, a Satsuma loan is far from cheap.
Like its former rival Wonga, Satsuma has had its fair share of complaints, compensation claims and bad press – and not just for the high APR of its services. Notably, in 2017, it was fined £80,000 by the government’s Information Commissioner’s Office (ICO) for sending consumers unsolicited spam texts. The company has thus-far lived to fight another day, however.
Compare the cost of payday lenders
As well as comparing short-term loans with other types of credit, before you apply for a loan it’s a good idea to shop around and compare a range of lenders. You can use the table below to get an idea of how much the loan that you have in mind might cost.
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Satsuma discount codes May 2022
Unexpected payments present themselves at the worst of times. Borrow up to £1,000, subject to approval, from Satsuma loans using the quick and easy online application process.
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