Satsuma_Loans
Satsuma Loans (a trading name of Provident Personal Credit) was a British an online loan provider and payday lender offering short-term loans. It was launched by doorstep lender Provident Financial in 2013 and was closed down in 2021.[1]
Satsuma Loans charged a typical annual percentage rate of 991% as of March 2017[update], with a maximum interest rate of 1,575%.[2]
Satsuma used to lend up to £1,000 to first time customers which could be borrowed over a 12-month period, incurring an interest charge of £990 on a £1,000 loan.[3] Satsuma Loans offered fixed weekly or monthly repayment plans[4] and claim that there were no hidden fees or charges with their loans.[5]