Warning: Late repayment can cause you serious money problems. For help, go to moneyhelper.org.uk

Who are Savvy?

Savvy is a trading name of Valour Finance Limited. They are a direct lender offering a range of loans to a variety of people, including those who may struggle to secure credit elsewhere. The APR rate and terms you are able to receive will depend on your application and requirements. Savvy won Responsible lender of the year in 2019.


How much can you borrow from Savvy?

You can apply for a loan Loans between £300 and £3,000.

What rates will customers have to pay?

Their advertised representative APR rate is 352.7%.

If you took out a loan of £1,000, over 12 months at a fixed interest rate pa of 152.33%. you would pay the loan back over 12 monthly instalments of £166.66. The total repayable would be £1,999.92.

How long do you have to repay?

Schedules vary between 8, 12, 15 and 24 months, depending on your personal situation. Only existing customers can apply for a 24 month repayment period, which is awarded at Savvy’s discretion.

Can you repay a Savvy loan early?

Yes this is possible. You will need to contact the customer service team (details below) and they will arrange for a settlement figure to be given to you in writing. This may also include additional fees and/or interest.

How easy is it to apply for a Savvy loan?

Before applying there are some minimum requirements that need to be met. Ensure you are:

  • Aged 18 or over
  • A current UK resident
  • In possession of an active UK account and debit card
  • Receiving an income of at least £800 per month

Applications for a Savvy loan are made via their website. They will ask for details such as employer information, bank and card details and three years of address history. Savvy will also require details about your incomings and outgoings. This involves providing things such as pay slips and bank statements that will enable them to run affordability checks.

Do Savvy transfer the money on the same day?

Savvy say they will transfer the funds to your bank account within an hour of approval during working hours.

What’s the best way to reach Savvy’s customer service team?

Telephone 0800 007 5888 (mobiles: 0330 002 0117).

Opening hours: Monday – Thursday: 8am to 7pm
Friday: 8am to 5pm
Saturday: 9.30am to 1.30pm

Is there an online account provided?

If you are successful with your application you will be given login details for an online account.

Do Savvy have an app?

At present there is no app available for customers to use.

How do other customers rate Savvy?

Based on ratings up to and including March 2020, Savvy’s rating on Feefo stands at 4.8/5 based on 85 reviews. On Trust Pilot their rating is 4.4/5 based on 249 reviews and rated as ‘excellent’.

Are Savvy regulated by any governing bodies?

Savvy are authorised regulated by the Financial Conduct Authority (FCA) and you can find full details on their FCA register page. They have been authorised since 11/8/16 and are a trading name for Valour Finance Limited.

Savvy summary

Savvy are a respected, award-winning direct lender. Applicants can apply for loans anywhere between £300 and £3,000. The representative APR is 837.40%.

Repayment terms are set to 8, 12 or 15 months for first-time customers. Previous customers can apply for a 24 month repayment plan, but this is subject to the existing nature of their previous account.

You can apply to repay the loan early, which will require the payment of settlement figure which many include additional fees and/or interest.

Before applying for a Savvy loan, ensure you:

  • Are at least 18-years-old
  • Qualify as a legal UK resident
  • Have access to an active bank account and debit card
  • Receive an income of at least £800 per month

There is no app available but customers do have their own online account.

Customer reviews are very positive on both Feefo (4.8/5) and Trust Pilot (4.4/5), based on figures available up until March 2020.

Savvy have been fully authorised & regulated by the FCA since 11/8/16.

Representative 49.9% APR

Representative Example

Amount borrowed: £1200 for 18 months
Number of repayments: 18
Interest rate p/a: 49.9% (variable)
Each repayment amount: £90.46
Total amount repayable: £1628.28

Warning: Late repayment can cause you serious money problems.
For help, go to moneyhelper.org.uk


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