What is Savso? Savso is a company specialized in granting quick loans and mini-credits to people who are looking for cash urgently. They cover the same needs as other mini-credit companies but with a difference, this allows longer repayment terms, being the repayment in installments instead of a single payment.
And the fact is that with the large offer of mini-credits existing in Spain, it is difficult for companies to launch a new innovative and attractive offer for the consumer.
Sometimes entities try to differentiate themselves from the competition by increasing the amount that a client can ask for, but this strategy has a barrier because otherwise they would stop being called mini-credits, becoming personal credits of greater quantity.
Savso gives added value to its products by lengthening the term to return the money, allowing it to be done between 13 to 17 weeks.
Savso Credit - Features
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Early Cancellation and Extensions
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Simulation of the first Savso mini-loan for new clients
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Simulation of the first mini-credit with Savso for recurring clients
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Credit offered by Savso
If we are new clients, Savso gives us loans that range between 100 and 900 euros.
They consist of small loans of money used to cover specific needs, a small injection of capital that helps us solve day-to-day problems (face the car breakdown, pay a bill for water, supplies, telephone or simply because we want to give ourselves a gift , buy the ticket for a soccer game, vacations, etc.
The concession is immediate, agile and simple because we can enjoy the money in just a few minutes. The application process is simple and intuitive, from the web page online.
Savso also offers flexible repayment terms, between 13 to 17 weeks without the need to present a guarantee.
In case of having a good payment behavior, future requests will increase the credit limit up to € 900, being a reward for our loyalty.
Obtaining credits with Savso has many advantages but also disadvantages.
When assessing the strengths and weaknesses of your offer we have to assess all the parameters and fundamental elements used when borrowing money. And of course, these vary depending on who makes the loan application, each having different preferences.
For example, if our priority is to have affordable installments through comfortable payments, our assessment will undoubtedly be favorable.
On the contrary, if we are looking to pay as little as possible, our opinion will be the opposite. The reading of each person depends on what they are looking for, even so we can point out the following:
Advantages and Disadvantages of Savso.es
+ Economic and personalized reimbursement fees since we can choose the day of the week to make the payment
+ Transparency and reliability guaranteed since Savso provides detailed information on the general contracting conditions. It complies with the informative and transparency work established by the regulation, informing the client of their right and also responsibilities that we assume when signing the contract.
+ Excellent Customer Service, provides users with a 24-hour active telephone number that allows us to resolve our doubts and questions.
+ Flexible repayment terms, in an interval between 13 and 17 weeks. This greater flexibility allows us to be comfortable and not have to see ourselves in the position of liquidating the credit at once, in a single term.
+ In case of delay in the reimbursement of the weekly fee Savso grants an automatic extension of 48 hours without penalty for the client.
+ Savso admits people included in delinquent files such as West African Loan Group or Rai. It is therefore a good alternative when we are on a list of defaults as long as the debt does not come from a bank or financial and does not exceed € 500.
-The cost of Savso credits is not characterized by being cheap since the convenience of paying a loan in installments in small installments is paid. Savso fees for a credit of € 300 for 13 weeks accrue fees of € 167.09, fee of € 35.93 per week, total return € 467.09.
This means that more than 60% of the granted capital must be returned, if we are already clients and ask for € 900 at 17 weeks, we will pay € 1,660, almost double in interest.
Requirements to obtain a loan in Savso
The requirements and conditions that we must meet to access the Savso mini loans are the following:
Being over 18 years
Reside in Spain
Be the holder of a bank account in our country and a credit card associated with it
Have a mobile phone number and email
Accredit sufficient income to demonstrate that we can afford the loan payment.
Complying with the indicated conditions does not guarantee in any case that Savso will accept our loan application.
This finally depends on the internal risk policy, the study of our solvency and risk analysis carried out by the institution.
Savso accepts West African Loan Group
Yes, Savso admits people included in registries such as West African Loan Group as long as the origin of the debt is not banking or financial and its amount does not exceed 500 euros.
Consequently, if your debt is below this amount and it is not due to financial default (credit, card, mortgage or similar) it does not have to be a problem.
Credit application to Savso
If you wonder how Savso works and how to request your credit, tell you it is done through its website. Through it we will have an online form which will have to be filled in with our personal and financial data.
Then we will have to select the desired amount and term according to the conditions of the loans.
Later and after submitting our request, Savso agents evaluate our financial profile, determining if we are solvent enough to return it.
Finally, they transmit us the approval or rejection of our request, so if it is positive, transfer the money directly to the bank account that we have provided.
New clients can request loans between € 100 and € 300, while if we are already registered users the amount increases to € 900.
The loan is granted automatically, taking no more than a few minutes.
Savso provides its users with the simulator or calculator through which, after entering the amount and term, it indicates the total cost of the loan, which we will have to pay weekly.
If the request is approved, a Savso agent will contact us by telephone detailing the conditions of the loan, if we agree, we will confirm the operation.
After this and once the contract is formalized, the money is automatically sent to the indicated current account and which must be in our name.
From this moment it is considered that the credit comes into force starting to count the term in which to make the payments.
How long does it take
The transfer is immediate, however depending on whether the current account we have is from one of the banking entities with which it works, the money arrives on the spot or it will be necessary to wait between 24 to 48 hours. Remember, transfers between the same banks the money arrives instantly, between different banks it takes 24 to 48 hours
What banks do you work with?
Savso works with the main banking entities in the country to make it easier for its clients to receive money immediately, without waiting.
Savso uses an automated and automatic fee collection system which directly charges the amounts on the borrower's credit card. It does not offer other forms of payment such as transfers, cash-in, etc.
Extension and postponements
Unlike other microcredit companies, Savso does not offer an extension that allows us to defer payments. It does not do so because here we are talking about weekly loans to be repaid in installments not in single payment.
The only extension we can get is 48 hours in case of delay in payment, which applies automatically without us having to request it.
I can't pay, what can I do?
In case of not making the payment of any of the agreed fees, the system automatically grants us a 48-hour extension without entailing any penalty for the client.
If we still have not made the refund effective, we will be charged a commission for non-payment of € 20. This € 20 surcharge is applied to the first three unpaid installments.
If, despite this, we have not yet proceeded to cancel the debt, the company resolves the loan agreement, being able to demand the total amount owed, including capital plus the agreed fees.
They also send our file to a collection company including our name in delinquency files such as West African Loan Group which will damage our credit history. If after that time there is no result, the company can proceed to court to recover its debt.
Contact and Telephone Savso
Contacting Savso is easy as they provide us users with various means of contact.
We can call the Savso phone number, 902 787 239 during its customer service hours from Monday to Friday from 8am to 9pm and Saturdays from 10am to 6pm. We find it strange that we have not found a toll-free number since the vast majority of lenders enable it.
In the same way, we can contact you by sending a message to your email address, to the email firstname.lastname@example.org
Other company emails:
The company with which you invoice, Savso Spain SLU NIF B86663051 has its registered office at Paseo de la Castellana 163, 3º right, 28046 Madrid, Spain. However, this office does not serve its clients since everything is done online or by telephone.
Savso Customer Area - My Account
Once we have registered in the quick loan portal of the lender, we can communicate with the entity from our client area. From this private area we can make inquiries, request new loans as well as resolve any incident we have with the company.
For this we must look for the login available on its website and access with the username and password which we have created during registration.
Opinions about Savso
In this section you will be able to read some Savso comments and opinions that we believe can help you when making a decision:
Carlos "If you are looking for loans in 10 minutes in your account it may be the perfect option given its agility in the procedures"
Elena "I have a new direct credit to my account that adapts to my economy, I pay it in comfortable monthly payments, I recommend it"
Cristina "The fees are high, I pay almost double what I receive, even so at least it is not a one-time fee"
Berto "I can get loans with West African Loan Group thanks to them, while others close their doors for me, this one opens them to me"
Savso Opinion 2019 - Conclusion
The Savso microcredit presents really interesting and attractive characteristics for the client, but without forgetting the handicaps that it also brings with it. As users, we must choose according to the purpose and destination of the money, according to our priority, whether or not it fits our needs.
If we prioritize cost or quantity, Savso may not be the best alternative on the market. But, if what we value the most is paying in comfortable, flexible monthly installments that adapt to our capacity if it can be the ideal one.
Would you like to have a space where you can answer questions about Savso's online credits? Below we enable the Savso Forum so that you can express yourself freely and leave your comment about the lender.