Be Savvi Loan | Savvi Credit Union

Be Savvi Loan - Lighten your Load

Have you got multiple loans?

With rates as low as 5.99% pa variable (6.16APR)* , combine & switch your existing loans into one Be Savvi loan

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Clear your existing loans with other financial institutions and pay it all off at a lower competitive rate.

Better yet, once you’ve given us all your documentation, BIC and IBAN, we’ll liaise with your current providers to manage the switching process, so you can have peace of mind.

Loan Calculator

APR 6.16% Interest Rate 5.99%

Monthly Payable: 

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Are you a member?

Do you currently have a Savvi Loan?

APR = Annual Percentage Rate

The repayment amount above is an indicative figure only.

If you are interested in a loan over 5 years or for more than €80,000 give us a call on 01-632 5100.

Representative Example:

Representative example: €25,000 loan repayable over 5 years. Rate of interest 5.99% per annum variable. *APR (Annual Percentage Rate) 6.16%. 60 monthly repayments of €483.20 per month. Total amount payable is €28,992.23.

What is a Representative Example?

A representative example is a term used in financial regulations. The example will help to show you the typical costs associated with a loan for a certain amount.

What Type of Loans can I switch?

You can refinance any personal credit* with any other financial institution Such as:

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Personal Loans & Credit Cards

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Holiday Loans

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Overdrafts

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Car Loans & PCP

*Note: this does not include debt with money lenders/pay day loans.
If you wish to refinance this type of debt, please contact us for details about our New Path loan.

Why should I consolidate my loans?

Consolidating loans means grouping all loans, like credit card debt, overdraft debt and personal loans into one. This makes it easier for you to manage your money and your repayments, as well as secure a better ‘Savvi’ rate of 5.99%* which is much lower than a standard credit card rate of 20% for example.

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Do I get a Cash Balance paid out of receipt of my Be Savvi Loan?

No, no cash balance will be paid to you. Instead our Savvi Team will liaise with your current providers to clear your debts. Then repay Savvi in one easy-to-manage monthly payment instead.

Loans are subject to approval. Terms & Conditions apply.

Warning- If you do not meet the repayments on your loan, your account will go into arrears. This may affect your credit rating which may limit your ability to access credit in the future.

Warning: This new loan may take longer to pay off than your previous loans. This means you may pay more than if you paid over a shorter term.

Terms & Conditions

The Savvi Loan is a separate loan available to members who would like to consolidate all their existing short-term debt into one easy repayment at a reduced rate. The exclusive purpose of this loan is to clear all short-term debt held with other financial institutions* i.e. existing loans held with Savvi are excluded

  1. The Savvi Loan will be a separate loan account. For members who currently have a loan, this will have a separate repayment amount. This repayment will, however, form part of the member's single Deduction at Source/ Direct Debit payment and the credit union’s computer system will divide out the deduction to the relevant accounts.
  2. For members who currently do not have a loan, the granting of a Savvi Loan will not preclude them from applying for another loan with the credit union.
  3. All loans will require a full assessment, therefore, full supporting documentation will be required.
  4. The maximum term of the loan will be 60 months, however, this may be extended at the discretion of the loan officer depending on loan size.
  5. *The interest rate payable on the Savvi Loan rate is a 5.99% variable loan rate for members on DAS (Deduction at Source) and 6.99% for Non-DAS members.
  6. All applications considered are subject to a clear credit check.
  7. To avail of this special reduced rate, the member needs to supply statements for all debts being cleared. Statements need to include the up to date balance, account number/IBAN and BIC as Savvi will clear all loans directly.
  8. Top-up loans are not allowed on the Savvi Loan under any circumstances.
  9. Interest will be calculated on a daily basis on the outstanding balance and will be charged to the Savvi Loan at the same time as the repayment is credited i.e. weekly, fortnightly or monthly.
  10. Lump sum payments and early repayment are allowed without incurring a fee or penalty.
  11. A statement will issue on a yearly basis.

*Note: this does not include debt with money lenders/pay day loans. If you wish to refinance this type of debt, please contact us for details about our New Path loan.