Savii Loan Review
Savii emerges as a leading provider, dedicated to addressing the multifaceted financial needs of its clientele. With a comprehensive array of offerings ranging from salary loans and free insurance to savings accounts and time deposits, Savii stands as a beacon of financial empowerment for individuals seeking reliable solutions.
In this Savii loan review, we look deeper into the world of Savii, exploring its diverse product portfolio, the intricacies of salary-linked loans, and the significance of inclusive application processes. Moreover, we shed light on the pros and cons of choosing Savii for financial assistance and how the platform’s reliability plays a pivotal role in gaining borrowers’ trust.
What is Savii?
Savii, a prominent financial service provider in the Philippines, offers a wide spectrum of financial products and services tailored to meet the diverse needs of its clients who want to take a loan
Legitimacy and Reliability of Savii
Savii is officially registered with the Securities and Exchange Commission (SEC) under Company Reg. No. CS201628816. This registration is a testament to Savii’s recognition and authorization by relevant Philippine authorities. It signifies that Savii operates in compliance with the legal and regulatory framework established by the SEC, providing borrowers with added assurance.
In addition to its SEC registration, Savii holds the ISO/IEC 27001:2013 certification. This certification highlights Savii’s unwavering commitment to information security. It signifies that Savii adheres to international standards for managing and securing sensitive information. For borrowers, this certification is a significant factor of trustworthiness, as it assures the protection of their personal and financial data throughout their interactions with the platform.
These registrations and certifications underscore Savii’s legitimacy and reliability as a financial services provider, making it a trusted choice for borrowers seeking financial solutions in the Philippines.
Key Points
| Loan Aspect | Details |
|---|---|
| Loan Amount Range | PHP 5,000 to PHP 500,000 |
| Loan Terms | Up to 60 months |
| Interest Rate | Starting from 0.5% |
| Eligibility | Filipino citizens, 18-60 years old |
| Application Process | Online through Savii website or app |
| Approval Time | Typically within 1-2 business days |
| Repayment Options | Deducted directly from salary |
| Additional Fees | Processing fee of 7% |
Savii Loan Amounts and Loan Terms
Savii understands that financial needs can vary widely among individuals, so it offers a flexible range of loan amounts and terms to accommodate diverse requirements. Whether you have immediate financial needs or long-term financial goals, Savii has options tailored to your situation.
Loan Amounts
Savii allows borrowers to choose loan amounts that suit their financial needs. You can apply for loans ranging from PHP 5,000 to PHP 500,000. This extensive range allows you to select an amount that aligns with your requirements. Whether covering unexpected expenses, financing a major purchase, or consolidating existing debts, loan amounts offer the versatility you need.
Loan Terms
Savii offers generous loan terms of up to 60 months (5 years) when it comes to loan repayment. This extended repayment period allows borrowers to choose a tenure that aligns with their financial capabilities and preferences. Whether you prefer a shorter repayment period to clear your loan quickly or a more extended term to manage monthly payments more comfortably, savii Philippines loan terms cater to your needs.
The approach from Savii loan app to loan amounts and terms is designed to empower borrowers by providing choices that best suit their unique financial situations. Whether you’re seeking a small, short-term loan or a larger, long-term loan in Savii, the range of options ensures that you can find a solution that meets your financial goals.
Loan Application Process with Savii
Applying for a loan with Savii is a straightforward process that can be completed through their website or mobile app. This guide to savii loan application provides a detailed overview of the steps involved, including creating an account, uploading necessary documents, and submitting the loan application.
Step 1: Create an Account
Begin your loan application by visiting the Savii website or downloading the savii mobile app. You will need to create an account thus provide your personal information, including your name and contact details. You will receive a one-time SMS OTP (One-Time Password) for verification.
Enter this OTP to proceed with the application. Verify your email address to activate your Savii account. For a smoother experience, it is recommended to use a Gmail address if available. During the onboarding process, you will be prompted to select your current employer from a list of options.
Step 2: Upload Required Documents
After completing the initial application form, you will need to upload specific documents to support your loan application. These typically include:
- A clear selfie photo.
- A valid Government ID (such as Passport, Driver’s License, PRC ID, SSS ID, UMID Card, Voter’s ID, National ID, or Philsys-ID) with both front and back views. Alternatively, you can provide two secondary government IDs and documents.
- Your company ID or, if unavailable, submit a clear photo of your Certificate of Employment (COE) with at least 30 days of validity.
- Two of your latest payslips.
Step 3: Review and Accept Loan Terms
Carefully review and agree to the terms of your loan, as outlined in your Authorization of Voluntary Payroll Deduction and Promissory Note, as well as the Terms and Conditions.
Step 4: Submit Your Loan Application
Once all required documents are uploaded and the loan terms are accepted, proceed to submit your loan application. You will receive an email notification confirming the submission and providing updates on the status of your loan application. To monitor your application’s real-time status, you can access your employee dashboard.
Savii loan app’s user-friendly loan application process aims to provide convenience and accessibility to borrowers, including Filipino employees. Whether you are in need of an online loan for personal or financial reasons, diverse loan options and competitive interest rates make it a reliable choice for those seeking financial support in the Philippines.
Analyzing the Pros and Cons of Choosing Savii
When considering Savii as your financial partner, it’s essential to weigh the advantages and potential drawbacks. This section provides an analysis of both the pros and cons to help you make an informed decision.
| Advantages of Savii | Drawbacks and Considerations |
|---|---|
| Flexible Loan Terms: Up to 60 months for convenient repayment. | Processing Fee: 7% processing fee may impact affordability. |
| Competitive Interest Rates: Starting from as low as 0.5%. | Not Suitable for Short-Term Small Loans: Focus on mid to long-term loans. |
| No Prior Credit Score Requirement: Inclusive approach. | Variable Approval Process: Loan approval depends on eligibility and circumstances. |
| Wide Range of Loan Amounts: Loans of up to PHP 500,000. |
Savii offers a range of advantages, including flexible loan terms, competitive interest rates, and an inclusive approach that welcomes borrowers without prior credit scores. However, potential borrowers should be aware of the processing fee and consider their specific financial needs and repayment capabilities when opting for a Savii loan. It’s advisable to review the terms and conditions thoroughly and use the available resources, such as the Savii loan calculator, to make an informed decision.
Comparison with Other Financial Service Providers
When choosing a financial service provider in the Philippines, evaluating the options available is essential to make an informed decision. Due to its unique features and competitive advantages, Savii stands out among its competitors, such as JuanHand, Cashalo, and SB Finance.
| Aspect | Savii | JuanHand | Cashalo | SB Finance |
|---|---|---|---|---|
| Interest Rates | Starting from 0.5% | 9% to 12% | Starting at 3.95% | Starting at 1.2% |
| Loan Amounts | Up to PHP 500,000 | Up to ₱15,000 | Up to ₱7,000 | ₱30,000 to ₱2M |
| Application Process | No prior credit score required | Credit score-based | Credit score-based | Credit score-based |
| Loan Terms | Up to 60 months | Up to 3 months | Up to 90 days | 2 to 48 months |
Conclusion
At the end of the review of Savii, this lender emerges as a prominent player in the landscape of loans in the Philippines, offering various financial solutions to cater to various financial needs. With the convenience of applying for a loan at Savii through their website or mobile app, potential borrowers can explore the possibilities of securing a new loan within a seamless and accessible process. With Savii branches and over 100 partner companies, borrowers can easily find support and guidance in their loan journey. The platform’s approval or refusal process is typically swift, with loans listed on the site for borrowers to review.
FAQ Section
How can I apply for a Savii loan?
You can apply for a Savii loan through their website or mobile app. Simply create an account, upload the required documents, and submit your loan application.
Can I apply for a second loan with Savii?
Yes, you can apply for a second loan with Savii once you’ve successfully repaid your first loan.
How can I qualify for a Savii loan?
To qualify for a Savii loan, you must be a Filipino citizen, at least 18 years old, have a regular source of income, and possess a bank account and a mobile phone.
What is the maximum loan amount I can get with Savii?
Savii loan philippines offers online loans of up to PHP 500,000, but the actual amount may vary depending on your financial assessment.
What are the repayment terms for a Savii loan?
Savii provides flexible repayment terms of up to 60 months, allowing you to choose a tenure that suits your financial capacity.
Are there any fees or charges associated with a Savii loan?
While interest rates start from as low as 0.5%, there may be processing fees or additional charges. Please refer to their official website for detailed information.
How long does it take to get a Savii loan approved?
Savii typically offers quick loan approval, and the processing time can vary depending on the amount. Loans are usually approved or refused within a business day.
What is the interest rate for a Savii loan?
Savii also offers competitive interest rates, starting from as low as 0.5%. However, the exact rate may vary depending on your loan amount and other factors.
Is Savii listed on the Bangko Sentral ng Pilipinas (BSP)?
Savii is recognized as a financial institution and has the necessary SEC Company Registration. You can check their official website for more details.
How can I contact Savii for loan inquiries?
You can contact Savii through their hotline or visit one of their branches for assistance with your loan application or inquiries.
Can I get a loan from Savii within 6 to 12 months?
Yes, Savii provides loans with flexible repayment terms of up to 60 months, allowing you to choose a duration that suits your financial needs.
Are fees deducted directly from my salary for loan repayment?
Yes, the repayment structure is built around automatic payroll deductions, making loan repayment hassle-free.
Are there any additional fees or charges besides the interest rate?
Savii may have processing fees or additional charges. It’s advisable to check their official website for a detailed breakdown of fees and charges.
Does Savii have a rating from the Better Business Bureau (BBB)?
The Better Business Bureau rating may not apply in the Philippines. You can check for reviews and ratings on Savii through local platforms and customer reviews.
Savii Competitors
Read OKPeso Review
| Company | Loan Amount (PHP) | Interest Rate | Loan Term | Our Review |
|---|---|---|---|---|
| Digido | 1,000 – 25,000 | From 0% to 11.9% | Up to 30 days | Read Digido Review |
| MoneyCat | 500 – 20,000 | Up to 11.9% per month | Up to 180 days | Read MoneyCat Review |
| CashMart | 3,000 – 150,000 | From 0,8% to 3,5% | Up to 6 months for new loan | Read CashMart Review |
| EasyCash | 5,000 – 25,000 | 0,33%-1% | From 1 to 300 days | Read EasyCash Review |
| Crezu | 1,000 – 25,000 | From 1.5% per month to 30% per year | From 3 to 12 months | Read Crezu Review |
| CashMe | 2,000 – 20,000 | 0,08% per day | Up to 3 months | Read CashMe Review |
| Blend | 50000 – 2 million | From 1,5% to 3% monthly | Up to 36 months | Read Blend Review |
| Binixo | 2000 – 30000 | 1% per day | From 7 days to 30 days | Read Binixo Review |
| Asteria Lending Inc | 2000 – 50000 | 0.2% per day | From 30 days to 120 days | Read Asteria Review |
| Finbro | 1,000 – 50,000 | 0.5% – 1.25% per day | Up to 12 months | Read Finbro Review |
| Kviku | 500 – 25,000 | 1.2% per month | Up to 180 days | Read Kviku Review |
| Binixo | 2000 – 30000 | 1% per day | From 7 days to 30 days | Read Binixo Review |
| PesoQ | 5,000 – 20,000 | 4% – 6% per month | 91 – 365 days | Read PesoQ Review |
| GCash | 5,000 – 25,000 | From 3% to 15% | From 15 to 90 days | Read GCash Review |
| CashBee | 2,000 – 20,000 | 0,3% daily | From 30 to 120 days | Read CashBee Review |
| Revi Credit Philippines | 1000 – 250,000 | 1% – 5% | From 6 to 36 months | Read Revi Credit Review |
| Tala | 1,000 – 25,000 | 15% – 15.7% | From 15 to 61 days | Read Tala Review |
| OKPeso | ||||
| Vamo | 1,000 – 30,000 | From 1,3% | From 10 to 3000 days | Read Vamo Review |
| Flexi Finance | Up to 25,000 | From 365 to 1460 days | Read Flexi Finance Review | |
| JuanHand | Up to 50,000 | 14.7% per month | From 14 to 90 days | Read JuanHand Review |
| Moca Moca | 2,000 – 35,000 | 0.83% per month | From 180 to 365 days | Read Moca Moca Review |
| RoboCash | 1,000 – 25,000 | From 0% to 11.9% | Up to 30 days | Read RoboCash Review |
