Satsuma Loans Login (MySatsuma) @ www.satsumaloans.co.uk
The Satsuma loan brand was unveiled in 2013 essentially as the no agent equivalent of their Provident doorstep loan service. Since launch, Satsuma’s customer base has hit 50,000. They have issued 280,000 loans to date. Their user base is much smaller than that of their home loan division and also Vanquis on the credit card side. This variation will however close up over time that is evident from the fact that their site has already surpassed Provident’s (based on Alexa data). Flexible instalment terms are packaged here across 3 to 12 months (or 13 to 52 when repaying weekly). First time applications can go for £100 to £1000 whilst a bump up to £2000 is available when trust has been demonstrated.
If we look at Satsuma’s pricing, for £300 borrowed over 3 and 6 months, charges are imposed of £129.26 (13w) or £142.80 (3m). The extended prices would be £268.80 (6m) or £274.60 (26w). It’s strange that the value flips between monthly and weekly repayments. Either way, the shorter 13 week choice makes the most sense and just several providers go lower. This company does have a battle on their hands in the booming instalment sector. There are several rival services currently attractive more visits than they are. Sunny is far ahead, but it’s much closer with Lending Stream and MyJar. They may well surpass this pair before the year comes to a close.
At application stage a few applicants receive a call and some will be asked to send a payslip, but in general they aim to deliver fast payouts. With poor credit, we’d expect much higher approval rates at Provident. Those who are approved will be able to now use the Satsuma Loans login facility that was only recently added at www.satsumaloans.co.uk. This portal that they call MySatsuma enables you to keep track of your loan and you’ll see when you’re eligible to borrow more money. To arrange an early settlement this would need to be completed by phone. Their support team is available between Monday and Friday (8am to 8pm) plus on Saturdays (8.30am to 5pm).
Market Share Ranking 2017…
Satsuma Online Loans Login Rank: #11
Niche: Instalment (#7), Personal (#4).