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Our review of beSavvi
beSavvi are a trading name of Hitachi, and where Hitachi only offer finance to those with a spotless credit file, beSavvi consider those whose credit score may not be perfect although it’s unlikely that you’ll be accepted if you’ve had a CCJ or default in the last three years. Applications with beSavvi are completed online, as a result you will receive an instant decision and should expect the process to be pretty simple. If you provide all the necessary details and you are accepted, beSavvi even claim the money can be in your account the very next day. It’s therefore worth making sure you have your last five years’ address history, employment details, annual income and bank account details to hand when completing the application.
A few stand out benefits of borrowing with beSavvi is that they do not charge for overpayments or early settlement fees. However there are a number of fees that will apply if you happen to miss a payment. So make sure you can safely afford the repayments in full and on time before applying otherwise it could soon become very expensive. To make managing your loan repayments as simple as possible beSavvi have an online management tool. If you do borrow from beSavvi it’s worth using this to keep an eye on the status of your loan.
At time of writing, beSavvi score very highly on feefo.com with over 455 reviews of which 99% are positive. Customers specifically mention that they appreciated the quick transfer of funds, quick and easy application and friendly service. This is backed up by beSavvi replying to the majority of the reviews that are left, thanking the customers for their kind words – this is a nice personal touch.
Overall verdict: If your credit file has taken some minor slip-ups in the past then beSavvi may offer a solution. It’s crucial when applying for a loan that you can afford the repayments and this is even more so with beSavvi as there are a number of fees for failed payments or breaches of contract. So, if you decide to go with beSAvvi then make use of their online management tool to avoid paying out extra charges.
- Online management tool available
- Quick payout available for successful applicants
- No paperwork, everything is completed online
- No charges for early settlement or overpayments
- You must be aged at least 21
- You must be a permanent UK resident
- You must have lived in the UK for at least 12 months
- You will need your last 5 years’ address history
- You will need to have a bank or building society account
- You will need to be employed, self-employed or retired with a pension
- No CCJs or defaults in the last 3 years
- Maximum APR 22.9%
- Arrangement fee: £0
- Early repayment fee: £0
- Late payment fee: £50
beSavvi, a trading name of Hitachi Capital (UK) PLC, offer loans from £2,000 to £10,000 to be repaid over two to five years. beSavvi advertise a representative 16.9% APR but rates will depend on personal circumstances and the amount you borrow.
In order to apply for a loan with beSavvi you must be 21 years or over, have a bank or building society account, be a permanent UK resident (and have been living in the UK for at least 12 months), be in paid employment, self-employed or retired with a pension, and have your last five years’ address history.
The application is all online so it uses an electronic signature and requires no paperwork. Applicants can receive an immediate decision and if accepted, funds can take up to 48 hours to appear in your account.
As a beSavvi customer you can manage your account online by logging into your beSavvi account. This gives you the opportunity to make overpayments and settle your loan early free of charge, however, if you miss a repayment charges do apply and this will depend on the payment method you specified in the application.
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