Short term installment loans are really a real method to borrow a quantity of cash

Exactly what are Short Term Installment Loans?

Short term installment loans are a method to borrow a quantity of cash and repay it in a quick period of time. This contrasts along with other kinds of borrowing, such as for instance mortgages and auto loans, that are removed for larger levels of cash which you typically pay off over many years.

For those who have a le than perfect credit rating, you might find you’ve got restricted acce to loans from some traditional loan providers or banking institutions. With Satsuma, we glance at more than simply your credit score when contemplating you for a short-term loan, meaning you could nevertheless be accepted despite having le than favourable credit.

Why choose Satsuma?

If you’re interested in a quick term loan but have actually restricted acce to credit from banking institutions as well as other high-street loan providers, we’re able to assist. At Satsuma, you might borrow between ?100 and ?1,000 and repay over a period between 3 to one year if authorized.

We try not to charge charges for mied or belated payments, you simply pay off that which you agree upfront. Nonetheless, we nevertheless charge mortgage loan in the cash you borrow. It is also well worth noting that Satsuma certainly are a high-interest loan provider, so please simply take this under consideration before you apply for a financial loan with us.

We could tell you whether you’re probably be accepted for a term that is short, without making a difficult footprint in your credit history.

With Satsuma you’ll find down if you’re qualified before using. Even although you have reputation for bad credit, you’ll get an eligibility choice within 60 moments. You aren’t obliged to just take a loan out and there won’t be an archive from it on the credit report.

Then your application will require a full credit check if you do decide to apply afterwards however.

To check on, fill this form out and we’ll give you an immediate decision, at the mercy of affordability.

Check always just before use

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 outcome, it’s not going to influence your credit rating unle you decide to use

Finish a 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 an immediate loan provider?

Satsuma is a primary loan provider , this means we spend the agreed loan amount directly into your bank account, then manage it right until the payment that is final. But, we do on event use agents too.

What’s the difference between short term installment loans and pay day loans?

Although they could seem comparable, there are numerous differences between short term installment loans and loans that are payday.

Unlike pay day loans, which needs to be repaid in a single lump sum payment within 2-3 weeks of taking out fully the mortgage, repayments for a Satsuma term that is short is produced in regular or month-to-month instalments, during a period 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 mi a repayment on a payday loan or roll. You’ll not spend any extra charges on a Satsuma term that is short, just what’s agreed upfront.

But, we are a high interest lender which means our rates of interest are much higher than traditional high street lenders as we mentioned earlier. Something that is highly recommended carefully if you’re thinking about a Satsuma loan.

Can a term that is short be good for my credit history?

The theory is that, any loan you are taking out – a term that is short or otherwise – might have an impression on your credit history. You manage your repayments whether it has a positive or negative impact depends upon how.

In the event that you spend your loan right back underneath the terms consented whenever you took it down, and then make your entire repayments on time, it will help to boost your credit history. If, having said that, you are belated with re payments or mi them entirely, this will damage your credit payday loan Upper Sandusky online score.

You should also consider how these are managed if you have other lines of credit open. Then this will have a detrimental impact on your credit rating if payments are mied elsewhere.

But, you will find exceptions to take into account: if a specific company views temporary (or payday) loans adversely, then having this on your own credit rating may potentially count against you.