As a responsible lender we will always perform credit searches on you to confirm if you can afford the loan we are considering paying to you. We urge you to consider carefully if you can afford the repayments before applying for a loan product from Savvy.co.uk.

We will also perform a review of your finances with you to ensure that you can afford the loan repayments easily. We will usually ask you to scan and send copies of your bank statement and pay slips when we are assessing your loan where required.

In some cases we may approve your loan for a smaller amount than you initially applied for but we will always provide details of any loan offer to you in writing so that you can decide if you wish to proceed or not.

Our Charges

At Savvy.co.uk we aim to be transparent with all of our interest and charges. Our loan terms start at 6 months and go up to a maximum of 12 months. Our charges for loans are tiered. We lend £300 to £500 over 6 months. We lend £501 to £700 over 8 months. We lend £701 to £900 over 10 months. We lend £901 to £1,200 over 12 months. Please see the loan examples below.

6 Month Loan Example

Borrow £400 - 6 monthly repayments of £133.33.
Total cost of credit £399.98 which is £399.98 interest at 291.50% pa fixed. Total amount repayable £799.98. Representative 1290.2% APR.

8 Month Loan Example

Borrow £650 - 8 monthly repayments of £162.50.
Total cost of credit £650 which is £650 interest at 223.49% pa fixed. Total amount repayable £1,300. Representative 731.0% APR.

10 Month Loan Example

Borrow £800 - 10 monthly repayments of £160.
Total cost of credit £800 which is £800 interest at 181.18% pa fixed. Total amount repayable £1,600. Representative 471.5% APR.

12 Month Loan Example

Borrow £1,000 - 12 monthly repayments of £166.66.
Total cost of credit £999.92 which is £999.92 interest at 152.33% pa fixed. Total amount repayable £1,999.92. Representative 332.0% APR.

Please take the time to read our terms of business and your finance agreement carefully before arranging your loan online.

General Debt Warning

A loan should never be used as a long term debt solution. If you are experiencing debt problems we recommend that you click here to visit Money Helper.

If you experience or anticipate problems in making your payments on time, please contact our Customer Care Team straight away by calling 0330 002 0118. 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:

Step Change Debt Charity

Website: www.stepchange.org
Telephone: 0800 138 1111
Email: www.stepchange.org/contactus/sendusanemail

Citizens Advice Bureau

Website: www.citizensadvice.org.uk
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.

National Debtline

Website: www.nationaldebtline.org
Telephone: 0808 808 4000
Email: www.nationaldebtline.org/EW/Pages/Email-us-for-Advice

Loan Jargon Explained

A loan is a sum of money provided as credit by a lender with a loan agreement that clearly explains what you will pay back along with the costs of interest and also any charges.

There are different types of loans:

• Personal Loans: These are loans of various sizes that you can use for any purpose, and are given based on your personal credit history.
• Unsecured Loans: These loans aren't secured with any asset and are provided on the basis of 'good faith', which is the lender's belief that you can repaybased on credit history and other factors.
• Secured Loans: These are backed up with an asset, which can be repossessed by the lender should you be unable to pay. Car finance and secured loans are common examples.
• Instalment Loans: These loans allow borrowers to repay the loan in several smaller payments rather than one large payment.
• Guarantor Loans: These are loans where the lender requires the borrower to have a guarantor. If the lender pays back the loan on time the guarantor does not have to do anything, however, if there are problems with repayments then the guarantor will become liable for the outstanding amount of the loan along with any charges.
• Payday Loans: These are short-term loans that you will usually pay in full by your next payday. These typically have a higher APR and cost because of the shorter length of lending. They are not advised to be taken on a regular basis.
• Online Loans: Though all of the above can be offered online, the key difference is that online loans can get you your cash much more quickly than traditional loans, sometimes less than minutes after you get your application approved.

At Savvy we provide online, unsecured instalment personal loans which are not secured against any assets, and which do not require you to have a guarantor.

Credit Jargon Explained

A credit report details your personal credit history from the previous 6 years, including mortgages, credit cards, overdrafts, loans, mobile phone contracts and even some utilities such as gas, electricity and water. If you're over 18 and have ever taken out credit, a credit reference agency is likely to hold a credit report on you.

When you make an application for a loan, credit card, mortgage or other type of credit (such as a mobile phone contract), lenders look at your credit report and may use the information contained within it to help them calculate your credit score when making their decision.

Review your report regularly to make sure it's up to date and accurately reflects your circumstances as mistakes could hold back your ability to get credit. In particular, check your financial associations with other people. If, for example, you find you're still financially linked to an ex-partner, you can break this link by completing a disassociation form which will stop their credit history affecting your ability to get credit - provided you no longer share any joint accounts.

Register to vote at your current address You can register to vote online with About My Vote. Not registering to vote, being registered to vote at an old address, or adding the wrong details on the electoral roll (electoral register) can mean you may be refused credit.

Lenders use the Electoral Roll information (electoral register) as a precaution against fraud, to check that you live where you say you do. Make sure you are registered to vote at your current address - you can do this online with About My Vote.

Credit scores change over time as your circumstances change. For example, paying off a loan could result in a higher credit score, while missing several repayments could reduce it.

All lenders including Savvy use their own formula when calculating a credit score; they also set different thresholds for accepting an application. These thresholds can vary according to the type or amount of credit you want. Lenders specialising in, for instance, lower-income customers may grant someone credit when another bank refuses.

We lend £300 to £1,200 and have repayment terms from 6 months, 8 months, 10 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 £300 and £500 over a 6 month term. You can borrow between £501 and £700 over a 8 month term. You can borrow between £701 and £900 over a 10 month term. You can borrow between £901 and £1,200 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. Please remember, all loan applications are subject to credit and affordability checks.

This will enable us to view up to 90 days of bank account history. This helps us make our lending decisions, assessing whether and if so what amount of credit is affordable and sustainable for you. As a responsible lender, we work with credit reference agencies to review your creditworthiness. As part of that process it is important for us to verify your income and outgoings. Ultimately, this will help us ensure that you do not fall in difficulties in making the repayments due or incurring further costs and charges. We are only permitted a read-only access to your current account, so will only ever be able to view the recent transactions on your account – nothing more. Your bank details are encrypted in transit and stored securely by the credit reference agency and its services providers. We do not have the ability to change any of your banking details, set up standing orders/direct debits or to manage your account in any other way. All data is securely handled in accordance with data protection laws and our privacy policy.

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.

Data security and fraud prevention are fundamental to us. We are committed to using practices to ensure that our services are provided within a secure environment. Your internet banking details are encrypted and held securely by our professional service providers. Our credit reference agency partner, Perfect Data Solutions Limited and us, are permitted read-only access to your current account, so will only ever be able to view transactions. We do not have the ability to change any of your banking details or set up standing orders/direct debits. All data is securely handled in accordance with data protection laws and our privacy policy.

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.

If you have any problems or experience difficulty with completing your online application, please contact our Customer Support Team underwriters@savvy.co.uk or call 0330 002 0117.

We aim to check these documents as quickly as possible and will usually email or text you to update you on your application as soon as we can. If you still have questions you may contact our Customer Support Team underwriters@savvy.co.uk or call 0330 002 0117.

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, please refer to About debt help & advice?

We collect different kinds of personal data about you to enable us to provide our loan service. For more information, please see our Privacy Policy.

We will sometimes need to share personal data with third parties to allow them to perform services on our behalf. For more information, please see our Privacy Policy.

You can provide or remove marketing consent in your Savvy Portal. If you are unable to access your Savvy Portal, please call us on 0330 002 0118. For more information, please see our Privacy Policy.

Keeping your personal data safe is very important to us. We have multiple layers of security & technical safeguards and controls in place. For more information, please see our Privacy Policy.

We only store your personal data for as long as we need to. Note that financial and regulatory rules oblige us to keep some data about your account for a number of years. For more information, please see our Privacy Policy.

You can change your personal details in your Savvy Portal. If you are unable to access your Savvy Portal, please call us on 0330 002 0118.