as of November 2022
How It Works
SAVii believes in promoting financial inclusion through responsible lending practices and holistic assessment of potential borrowers. As such, personal information may be used through different stages of the process to ensure an accurate and complete assessment of the potential borrowers’ capacity, availability of funds and needs.
The life cycle of your loan goes through the following stages when you choose SAVii for your credit needs: Loan Solicitation, Credit Assessment, Loan Origination, Repayment, Debt Collection, and Remedial Measures.
A brief summary of our processes is as follows.
In keeping with our values of responsible lending, SAVii does not directly solicit loans from Employee Borrowers. Instead, we partner with select and reputable employers who share the same values to ensure fair access to credit for their employees. We conduct frequent orientation and information seminars to educate employee borrowers about our products and services. Interested prospective borrowers may then contact us and opt-in to further marketing or informational announcements from our team. On occasion, we may also contact borrowers through their nominated contact details regarding any important announcements that may need to be brought to their attention.
When assessing a borrower’s eligibility, we take into account a few principal criteria that determine whether they are suited for a loan, and the amount and duration of such loan, based on their indicated needs. As we are a salary-deducted loan service, the following factors may be considered in approval or disapproval of loan applications:
- Salary Level
- Purpose of Loan
- Completeness of Documentary Requirements
In addition, we may also examine any possible adverse borrower circumstances which may make it difficult for borrowers to repay their loan obligations. SAVii does not engage in fully automated decision making with respect to loan applications. While the submission of documents is automated through our convenient online process, borrower information is manually assessed by our team to ensure that all factors are appropriately considered. Should your loan application be unsuccessful, we retain your information for subsequent applications in order to give a more holistic profile of your creditworthiness while you maintain an account on our platform.