We lend £200 to £1,000 and have repayment terms from 4 months, 6 months, 8 months and 12 months. You are welcome to apply for a loan of any amount, however your approval will be dependent on credit and affordability checks.
You can borrow between £200 and £300 over a 4 month term. You can borrow between £301 and £500 over a 6 month term. You can borrow between £501 and £750 over a 8 month term. You can borrow between £751 and £1,000 over a 12 month term.
To be eligible to apply for a Savvy loan, you must be at least 18 years old, a UK resident and have a UK bank account and debit card. You must also have a net income of at least £1,000 per month, and be able to comfortably afford the loan repayments.
We assess every application on an individual basis taking a large number of factors into account. Until we do this we are unable to offer an indication on whether or not your application would be approved. Please remember, if you apply and pass our pre-qualification criteria, we will conduct/perform a credit search and this will leave a footprint on your credit file. Loans are offered entirely at our discretion and are based upon our creditworthiness assessment.
As a responsible lender, we carry out credit and affordability checks on all applications submitted to us. This assists with fraud prevention and our credit decision making. In some cases we may decline your application prior to performing a credit search, but we will always credit search you before we approve a loan.
All applications for a loan have to be made on our website. Our application process is quick and simple.
We need your employer information, bank and debit card details (including sort code and account number), as well as three years of address history. We also need details of your income and expenditure to ensure you can afford our loan repayments.
We ask for your bank details as we will deposit funds into your bank account if your loan has been approved. We use your debit card details for fraud prevention purposes, and although we usually take your loan repayments by Direct Debit from your bank, we may take your first repayment from your Debit Card.
As a responsible lender we may ask you to send us some further information, such as copies of pay slips and bank statements, to help us complete your affordability and creditworthiness checks. We provide simple instructions on how to upload the documents we require through your online account.
Once your application has been approved, we will normally send the money to you within an hour. We can only pay loans into UK bank accounts.
As we are not a pay day lender, we do not pay loans out on Sundays or on Bank holidays. In some cases we may require to perform further checks on your application which will usually be done during business hours.
As a responsible lender we have a policy of only having one current loan at any time. We do not ever want you to get unaffordable products from us. In some cases, if you have always paid us on time, we may offer you a new larger loan which would also settle your present one. Please remember, all loan applications are subject to credit and affordability checks.
No person can access your internet banking details. When you enter your banking credentials on our website they are securely transmitted. The encrypted details are then passed by the credit reference agency, Perfect Data Solutions Limited and associated service providers. They are stored in a highly secure data centre which has a single use, which is to generate a read-only data-feed which we will use to assess the affordability of the loan.
The data will be used to make lending decisions and stored by us as long as necessary to assist us in managing your account or issuing a loan to you. It will be stored by Perfect Data Solutions Limited, which is a credit reference agency, as part of your credit record. This means that anyone who accesses your credit record in future will be provided with a credit score which is based on all the information held about you including your banking history.
We would recommend that you review the Terms and Conditions of your internet
banking provider. Before you decide to submit your banking credentials, we would
stress that security is of paramount importance, we would especially mention that:
• Your data is encrypted in transit;
• We do not have any functionality over your bank account; and
• We only have access to a read only service.
You are free to change your mind at any point during the application process with no pressure or obligation. If you change your mind within 14 days of receiving funds, you'll simply need to pay back the loan amount plus any interest accrued to date. Simply make sure you have enough to repay the loan in full and contact us on 0330 002 0118.
We recommend that you reconsider whether a loan is the right option for you, if at some time in the future your financial position changes you may be able to apply again, however we recommend that you do not apply again with us for at least three months. Please remember that each application you make will leave a footprint on your credit file and you will be subject to credit and affordability assessment checks every time you apply. We reserve the right to decline any application and will not enter into discussions to explain such decision. If you have been declined you may wish to check the information held on your credit file with credit reference agencies before you apply for any further credit.
Your repayments are normally collected by Direct Debit, however, your first repayment may be taken by Debit Card under Continuous Payment Authority (CPA). We'll collect your repayments on your due date, as set out in the terms of your agreement with us.
Ways to pay us:
• Contact our customer team on 0330 0020 118.
• Log into our portal at www.Savvy.co.uk to make a debit card payment.
• Make a bank transfer to NatWest Bank, sort code 01-06-05, account number 43082270. Please quote your full name or your loan account number.
• Set up a Standing Order with your bank to make payments into our NatWest Bank, sort code 01-06-05, account number 43082270. Please quote your full name or your loan account number.
• Set up a Direct Debit by contacting our customer team on 0330 0020 118.
Yes, all you have to do is ensure that you have enough funds to repay your loan in full and then contact us on 0330 002 0118 or log into your online account at www.Savvy.co.uk and request a settlement figure which we will provide you in writing.
Failure to make your contractual payments may result in:
• Reporting your missed payments to credit reference bureaus (this will be retained for the period of 6 years).
• Registering a default status on your credit file held with credit reference bureaus (this will be retained for the period of 6 years).
• Commencing collections process to the contact details you provided by SMS
messages, emails, letters, and phone calls.
• Commencing door stop visits by one of our agents or employees.
• Tracing you and visiting any address we reasonably believe you may be living or residing.
• Commencing litigation process to recover the sums owed.
• Obtaining and registering a County Court Judgment (CCJ) on your credit file (this will be retained for the period of 6 years); if successful, an application may be made for an attachment of earnings to recover the sums owed directly from your wages from your employer.
• Passing or selling your account to a third party debt collections company.
Non-payment may make obtaining essential credit more difficult and more expensive for you in the future. Please be aware that energy, utility, telecoms, mortgage providers and letting agents may check your credit file to make decisions about accepting you as a new customer. It will also result in your debt growing.
If you experience or anticipate problems in making your payments on time, please contact our Customer Support Team straight away either by calling 0330 002 0118 or by logging into our portal at www.Savvy.co.uk. We'll do everything we can to help you, including providing details of how to get free, independent advice on your situation.
If you let us know you can't repay on time, we will be able to set up an affordable repayment arrangement with you. To achieve this, it may be necessary to complete an income and expenditure assessment with you. This will help us understand your financial circumstances so we can arrange a fair and affordable repayment plan. If your circumstances have materially changed, we may require you to provide us with evidence of any change, including copies of recent bank statements, payslips and/or copies of your bills; we may also request medical documentation where appropriate, such as doctor’s/hospital letters, copies of medical records, prescriptions, appointments or any other reasonable evidence of the difficulties you are experiencing. This information will help us to provide you with additional forbearance and support during this period.
You should be aware that if you miss or make late or partial repayments or do not repay your full contractual repayment as and when it falls due, we share this information with credit reference agencies. If your contractual repayments are due monthly, we may issue a default on your credit file after two contractual repayments are not made. If your contractual repayments are due weekly, we may issue a default on your credit file after four weekly contractual repayments are not made. This may make is harder for you to obtain credit in future.
If you do not contact us to make an acceptable repayment plan we may continue collection and recovery action against you. Please refer to What happens if I do not repay my loan?
If you feel you'll benefit from free, independent money advice, you can contact these organisations:
Telephone: You can find details of your local CAB by going to the website above and using the search facility.
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Important information about our loans. Please take time to read about us and how we operate as we take our responsibilities and duties as a provider of consumer finance seriously.