About lender
SAVii (formerly Uploan) is a licensed lending institution targeting employees through their employers. The company offers financial assistance to the staff in the workplace, helping organizations to motivate them and enable them to acquire financial power.
SAVii is an innovative financial platform that empowers companies’ HR leaders with salary-linked wellness services to stimulate employees personally and professionally. The lender focuses on employee wellness to enhance their level of engagement within an organization throughout the Philippines and across Asia. The lending platform targets employees, offering easy-to-operate, no-collateral, and quick loan services. The cash loan lending institution is registered by SEC as New Cross Credit Gate PH Inc.
SAVii supports employees with safe, convenient, and affordable loan services. Customers can access these quick loans using SAVii’s website and pay back the loans on scheduled repayment date. Borrowers can also access more than a salary loan with SAVii. Besides the popular salary loans that you can borrow from the online lender, you are eligible to access other fast cash loan services to get money at any time and pay back at an agreed interest rate. Customers also get to enjoy the simple application process and fast loan approval time, which allows them to acquire quick cash loans for their personal use.
Pros and cons
SAVii loans benefit both individuals and businesses. As an SEC-licensed online lending platform in the Philippines, the lender allows borrowers to access money without collateral and repay within an agreed date. The loan products entice borrowers because they can seek emergency funds from the company to meet immediate financial needs. For businesses, the loan is convenient because there is no obligation beyond an integrated deduction. Therefore, SAVii allows HR leaders to lower employee stress and enhance their productivity. Nevertheless, it is crucial to be aware of the drawback that you may face using the company's services.
Pros
- Convenient for businesses and employees
- Safe to use
- No cost or liability
- Promotes responsible lending practices
- Convenient repayment through salary deductions
- High loan approval rate of about 90%
- Great customer support
- No hidden fees
- No processing fees
Cons
- Penalties for defaulting
- High interest rates
- High late payment fees
Loan conditions
SAVii allows eligible borrowers to access loan products ranging from a minimum financing amount of ₱2000 and a maximum of ₱100000. Besides, borrowers can repay their loans between 10 days and 60 months, depending on the amount and type of loan they borrow. SAVii’s fast approval of loans enables borrowers to get their money disbursed quickly to their bank accounts. Ideally, approval takes up to 24 hours. New borrowers who have not taken a loan from SAVii must apply for a new loan from the company’s website to get started. Second-time borrowers can enjoy higher loan limits with extended repayment schedules.
Funding a loan
SAVii’s salary loans are the most common product the company offers. Borrowers can get affordable salary loans conveniently within 24 hours upon application. Customers can get the best possible interest rate depending on the loan amount they request from the lender, usually ranging from 0.5% per day, and have up to 60 months to repay their loans. The receiving time for approved loans is one day after the successful loan application and approval.
