GoSavy.com is a virtual loan platform based on the P2P (peer-to-peer) online lending model. The company does not issue loans itself; it acts as an intermediary when customers lend their money to other customers. Loans are issued here for different purposes: for personal needs, refinancing, for a car or a house purchase – up to 19,000 euros without the deposit. Savy.lt also gives business loans: up to 5,000 euros without pledges on the assets and even up to 500,000 euros with pledges on the assets. The Savy platform allows lending and borrowing to both legal and natural persons to whom such a right is granted by Article 6,870 of the Civil Code of the Republic of Lithuania.
How does it work?
- You can sign up on the Savy platform or simply enter the desired amount, repayment term in the calculator, click “Get a loan”, submit an application and transfer a 0.06 Euro data confirmation declaration.
- Every person who wants to receive a loan is checked in accordance with the regulations on responsible lending approved by the Bank of Lithuania: they analyze credit history, ratio of income to financial liabilities, etc.
- Customers who have passed the check are registered in a database where investors choose who to lend money to.
For what purposes loans are issued?
- consumer loans;
- housing repairs;
- business loans;
- car loans;
- refinancing;
- house or apartment loan.
Refinancing
The platform provides a refinancing possibility for which the application is filled out in almost the same way as for a regular loan.
Loan repayment and extension
The lending process takes place directly between customers, so the repayment or extension of loans is negotiated with each case individually.
Use of the Website
Gosavy.com website is simple, but its use is very clear and convenient, there is no unnecessary information, very detailed answers to F.A.Q., a well-developed section for investors, where they can quickly view all the necessary data about people who apply for a loan. Some places lack visuals: there is a lot of text, tables are arranged in text format. However, everything is arranged purposefully, so it is impossible to get lost in the flow of information.
Customer service
When communicating over the phone, there is sometimes a lack of clarity and a sense that the consultant is on the client’s side. You may need to wait for an email response for a long time. The good thing is that you can contact consultants not only on business days, but on Saturdays as well.
Opening hours: Mon-Fri: 8:00-19:00 val.; Sat: 10:00–18:00.
Payment methods
Payments are made to Savy bank account or via PAYSERA system.
Typical loan example?
If you borrow 2,000 € with a 24-month repayment term, fixed annual interest rate is 8%, brokerage fee 94 €, monthly payment – 96.25 €, APRC (annual percentage rate of charge) – 20.96%, total amount paid – 2,404 €.
Customer feedback
Due to the more flexible conditions, many people view the platform positively and they did not face any major problems. However, there are complaints about changes in contract terms during the process, communication between consultants and prompt resolution of problems.
Savy contacts
Bendras finansavimas, UAB
Phone: +370 610 31184;
Emai: labas@savy.lt;
Address: M. Valančiaus g. 1-1, LT-03105 Vilnius.
