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beSavvi personal loans
Apply online with no paperwork, and you could have a beSavvi personal loan of £1,000 to £10,000 in your bank within 48 hours.
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besavvi no longer appears to offer loans, but you can still apply for a loan through its parent company Novuna (formerly Hitachi) Personal Finance.
beSavvi loans overview
beSavvi is a trading name of Novuna Finance (formerly Hitachi Capital (UK) PLC), a subsidiary of the Japanese manufacturing giant. It’s a direct lender (not a broker), regulated by the Financial Conduct Authority.
While Novuna will only offer finance to those with a spotless credit file, beSavvi will consider those who have a less-than-perfect credit score. However, if you have had a County Court Judgement (CCJ) or default registered against you in the last three years, you’re unlikely to be accepted.
Key features of beSavvi personal loans
beSavvi offers fixed-rate loans, so you’ll pay the same amount each month, making it easier to budget. This also means that the overall cost of the loan will be clear from the start. The beSavvi Price Promise means it will guarantee the maximum you will pay each month on your loan amount. The interest rate you pay may differ according to how much you borrow and your loan term, however, the amount you can borrow will be determined by your credit score and what you can afford.
| Loan type | Unsecured Personal Loan |
|---|---|
| Loan amounts | £1,000.00 to £10,000.00 |
| Loan terms | 2 Years to 5 Years |
| Loan rate type | Fixed |
| Product fee | 0% |
| Same day funding available | |
| Instant decisions in most cases | |
| Soft-search facility available | |
| Joint applications | |
| Overpay without penalty | |
| Concurrent loans allowed | |
| Topping-up pays off existing loan and initiates a new loan | |
| Repayment methods | Direct Debit |
Why is there an interest rate AND an APR?
The Financial Conduct Authority requires lenders like beSavvi to display an “Annual percentage rate” (APR). It’s an annual summary of the cost of a loan and takes into account both interest and any mandatory charges (for example an arrangement fee) over the duration of a loan.
beSavvi doesn’t charge an “admin” or “product fee” for arranging your loan. For loans with terms of a year or more that don’t have fees involved, the interest rate and the APR will usually be the same figure.
beSavvi is only obliged to award this rate to 51% of those who take out the loan – the other 49% could pay more. That’s why it’s often referred to as the representative APR.
Am I eligible for a beSavvi personal loan?
You should only apply for a beSavvi personal loan if you’re certain you can meet the repayment terms. You must also:
- Be aged 21 or over.
- Have been a UK resident for at least 12 months.
- Be able to provide 5 years address history.
- Have a bank or building society current account.
- Be in permanent paid employment or self-employment, or be retired with a pension.
beSavvi will consider applications from those who don’t have a great credit rating. However, if you have had a CCJ or default registered against your name in the last 3 years, you are unlikely to be accepted.
How can I apply?
beSavvi provides an online checker so you can see the sort of loan you could receive before you apply and without your credit rating being affected. If you’re happy with the loan offered, fill out the online application form, which should take about 10 minutes. You’ll need:
- Address details for last 3 years.
- Employment details.
- Annual income.
- Bank account details.
beSavvi will perform a credit check and you will usually be given a decision instantly. beSavvi aims to have the money in your bank account within 2 working days.
Frequently asked questions
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