We lend £300 to £3,000 and have repayment terms from 12 months, 15 months, 18 months and 24 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 £300 and £650 over a 12 month term. You can borrow between £651 and £1,500 over a 15 month term. You can borrow between £1,501 and £2,000 over a 18 month term. You can borrow between £2,001 and £3,000 over a 24 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 have to 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.
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, don't worry we have made the application process 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 for successful applicants into your bank account. We use your debit card details to help protect you from fraud, 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 have a policy of only having one current loan at any time. We do not ever, want you to get into too much debt with us. In some cases if you have always paid us on time we may offer you a new larger loan and settle your present one. Please remember, all loan applications are subject to credit and affordability checks.
All new loans for existing customers will be approved on our 24 month loan term.
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 our assessment 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 15 minutes. Most banks will credit your account within an hour, but if you have any further questions you should contact your bank. We can only pay loans into UK bank accounts.
We pay loans out 12 hours a day, and on Saturdays but 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.
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.
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 our 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.
They will be used to make lending decisions about you and stored by us as long as necessary to assist us in managing your account or underwriting 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.
Your repayments are normally collected via 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.
A Continuous Payment Authority (CPA) is a regular automatic payment taken from your debit card. The authority is solely linked to the bank account that yours card is registered to.
If our attempt to take your payment from your debit card fails, a further attempt will be made. Maximum of 2 CPA attempts can be made for the same instalment.
You can change your payment date or cancel your CPA or Direct Debit at any time either by contacting your bank directly, or by contacting us in writing, by email [email protected] or by calling us on 0330 002 0118.
If you do cancel these you will still owe us your outstanding balance and you'll need to make your repayments by an alternative method, such as using the payment feature in your online portal or by bank transfer on or before each due date. Our Customer Support Team will be able to give you all the options and details on how to pay us, and we'll continue to send you payment reminders before each due date to help you keep track of your payments
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 emailing [email protected]. If you can't make any repayment on time, 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 may try to set up a repayment arrangement with you. Firstly we will complete an income and expenditure form. This will help us understand your financial circumstances so we can try to arrange a fair, affordable and flexible repayment plan.
You should be aware that if you miss or make late repayments we share this information with credit reference agencies, and this may make it harder for you to obtain credit in the future.
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.
Email: You can find details of your local CAB by going to the website above and using the search facility.
Telephone: 0808 808 4000
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.
Savvy.co.uk team celebrate another record breaking month
As a company that is growing over 50% year on year it is not uncommon for a monthly celebration but in May every department... read more
Credit Today Awards 2016
Valour Finance Group scores Triple Award Nomination Valour Finance Group has been nominated for three top industry accolades. We are proud to... read more