Refinancing
Transfer your loans to SAVY under better conditions. SAVY lends responsibly and takes your needs and financial situation into account, so fill out an application and receive a personalized refinancing offer.
Refinancing loan calculator
SAVY – an investment and financing platform, and a pioneer of the peer-to-peer lending culture in Lithuania. We operate responsibly, are supervised by the Bank of Lithuania, and our sustainability is confirmed by multiple awards as one of the fastest-growing companies, the ‘Gazelle’ awards.
Loan refinancing with SAVY
We offer refinancing on better terms up to €35,000
We offer additional loans based on your needs and capabilities
Annual interest rate from 6%
Loan decision within 1 hour
First payment deferral up to 3 months
Refinancing loans with SAVY is beneficial
How does refinancing work? We can refinance, meaning consolidate, your existing debts with other companies on more favorable terms, and provide an additional loan if needed, transferring the funds directly to your account.
You just need to submit an application online, and we will provide a refinancing offer tailored to your needs and financial situation.
We refinance obligations up to €35,000. You can choose a new loan term of up to 120 months, which helps reduce your monthly payments.
If you need a break from payments, you can defer your first installment for up to 3 months. During the deferral period, interest will continue to accrue.
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Loan refinancing
Some loans are taken out for a long period—ten years or even longer. Over that time, many things can change—if the borrower’s financial situation changes, the original loan terms may no longer be suitable. Therefore, if after reviewing your existing loans you find that they have high interest rates, too short a repayment period, or other unsatisfactory conditions, you can take advantage of loan refinancing. By transferring your financial obligations to SAVY, you can improve the terms of your existing loans.
Loan refinancing on the SAVY platform
SAVY refinancing is perfect for those who like to save time efficiently. First, take a few minutes to fill out an application on the website www.savy.lt. Provide the requested contact information as well as your personal and financial details (the latter are needed to assess your eligibility). After submitting the application, the SAVY team will provide you with a refinancing offer within 24 hours.
When considering a loan for refinancing, the potential client’s credit history is evaluated—clients with a poor credit history are not eligible for refinancing.
Refinancing calculator
The calculator on the website is a reliable and useful tool that allows you to realistically assess your borrowing and loan repayment options. It is relevant both for smaller loans, such as consumer loan refinancing, and for larger ones, like mortgage refinancing, where the loan amount is usually substantial.
In the calculator, enter the desired refinancing amount and select the term (in months). The calculator will calculate your monthly payments, helping you decide whether they fit your financial capabilities. If not, you can experiment with the calculator by adjusting the loan amount and term.
Benefits of loan refinancing
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Opportunity to improve the terms of your existing loans and reduce the burden of financial obligations, for example, by lowering monthly payments, interest rates, or other conditions.
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Combining multiple loans into one reduces administrative costs.
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Option to borrow additional funds if needed.
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No collateral required.
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The refinancing process is clear, convenient, and fast. We provide free consultations and answer any questions you may have about refinancing.
Take advantage of the opportunity to refinance your loan on favorable terms
If you are considering refinancing your existing loan, rely on SAVY and transfer your loans under better terms. You can refinance your current loans, and if needed, borrow additional funds or take advantage of the option to defer repayment of a newly taken loan for up to 3 months.
With SAVY, you can refinance obligations up to €35,000. The loan term can be up to 10 years. A major benefit is the ability to defer the first installment for up to 3 months. Another key advantage is that SAVY loan refinancing does not require collateral.
Questions and answers about refinancing
General questions about refinancing
Refinancing – what is it?
Not everyone knows what refinancing means. Simply put, refinancing is the repayment of an existing loan or other financial obligations (such as a mortgage, car loan, consumer loan, leasing, quick loans, etc.) with a new loan, usually provided on more favorable terms. The refinancing amount can range from a few hundred to several thousand euros, or even larger sums—€15,000, €20,000, or more. Refinancing is available for amounts up to €35,000.
How does refinancing differ from a consumer loan?
A consumer loan is a new financial commitment intended for additional funding, for example, a new purchase or unexpected expenses. Refinancing, on the other hand, is a new loan used to cover existing financial obligations, thereby optimizing your current commitments.
How does refinancing work?
Refinancing does not cancel your existing loan—it is the restructuring of your obligations under more favorable terms. This way, refinancing can reduce your monthly payments, extend the repayment period, or even provide additional funds if needed.
The process is simple: you fill out an application, and we assess your creditworthiness. If the decision is positive, the new refinancing loan covers your existing financial obligations, and you continue making payments according to the terms of the new refinancing loan.
Refinancing large loans: what you need to know?
A common option is refinancing a home renovation loan or a car lease. Loans for home renovations or vehicles are usually taken for a long period, during which the loan terms may become less favorable than they initially seemed. It is worth considering loan refinancing to see if you can obtain better terms for the remaining balance of your loan.
Refinancing loan: with or without collateral?
Refinancing up to €35,000 does not require collateral. If your financial obligations are higher, you can use a SAVY refinancing loan with real estate as collateral and reduce your costs. By pledging property, you can lower your monthly financial obligations and borrow on better terms. The maximum loan amount with real estate as collateral is €100,000. A major advantage is that no down payment is required. Learn more about this option on our website under Home Loan.
Quick refinancing available: what are the options?
In this context, online loan refinancing plays an important role. A decision on a refinancing loan is usually made within just one hour. You only need to fill out an online application—it takes just a few minutes. The SAVY team will provide a refinancing offer tailored to your needs and financial situation.
Cheapest refinancing: is it reliable?
When choosing a refinancing service provider, be sure to assess their reliability—it’s not difficult these days, as a lot of valuable information is available online. It’s important to note that reliability and very favorable refinancing terms are completely compatible—SAVY refinancing has helped many people.
When is it worth considering loan refinancing?
Refinancing is worth considering if:
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your current interest rates are higher than the new ones being offered,
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you want lower monthly payments (by extending the term or reducing the interest rate),
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you have multiple loans that you want to consolidate into one,
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your credit history has improved, allowing you to get better terms,
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you want to borrow additional funds—you can refinance your existing loans and borrow the extra amount you need.
Which loans can be refinanced?
The most commonly refinanced loans are consumer loans, leases, quick loans, credit card limits, credit lines, and others.
Is it possible to refinance multiple loans into one?
Yes, this is one of the main reasons for refinancing. It is called loan consolidation, where a new single loan replaces several smaller ones—you then have one payment, one due date, and often better overall terms.
Refinancing loan terms
What amount can I refinance?
The refinancing loan amount can range from a few hundred to several thousand euros. The minimum amount available for refinancing is €300, and the maximum is €35,000.
If you want to refinance larger obligations, you can do so with real estate as collateral, allowing for a refinancing loan of up to €100,000. Learn more about this option on our Home Loan page.
What is the repayment term for a refinancing loan?
The minimum repayment term for a refinancing loan is 3 months, and the maximum is 120 months.
Can refinancing help you get lower interest rates?
Yes. Lower interest rates are one of the main reasons for refinancing. Financial institutions offer loans with different pricing, so it’s always worth checking SAVY’s refinancing terms. Additionally, if your credit history has improved since you took out the loan, we may be able to offer you an even lower interest rate. This allows you to save even more, especially when the loan amount or term is large.
Can I extend the loan term?
Yes, when refinancing, you can often choose a longer repayment term than the remaining term of your current loan. A longer term reduces your monthly payments and eases your financial burden. However, it’s important to remember that the longer the term, the more you will pay in total, as interest accrues over a longer period.
Can I borrow additional funds when refinancing?
Yes, this option is available. If your financial situation and creditworthiness allow, you can receive an additional amount for personal use alongside refinancing your existing loans. This is convenient if you want not only to improve the terms of your current loans but also to have extra funds for your plans.
Does the total amount to be repaid change after refinancing?
ChatGPT said:
Yes, the total amount to be repaid can change. It depends on the new interest rates, the chosen repayment term, any additional loan amount, and applicable fees (e.g., contract and monthly service fees). If refinancing reduces interest or fees, the total repayment amount may be lower. However, if you extend the repayment term or borrow additional funds, the final amount usually increases, even though the monthly payment may be lower.
How long will it take to receive the funds after submitting the application?
We usually provide the loan within 1 business day—applications are assessed quickly, and the funds are typically collected automatically according to pre-set investor criteria. For larger amounts or longer-term loans, funding may take longer. In such cases, you can always contact us by phone or email for more precise information about your loan disbursement.
Requirements for the borrower
Can I get a loan if I’m unemployed?
You can get a refinancing loan while unemployed only if you have other regular official income, such as rental income from a long-term lease, a retirement pension, or a disability benefit.
How long do I need to have been employed to qualify for a loan?
To qualify for a refinancing loan, you need to have been employed at your current job for at least 4 months. However, there are other favorable conditions:
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If you have been at your current job for less than 4 months but worked at your previous job for at least 1 year and changed jobs within 14 calendar days, you can apply for a refinancing loan.
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If you have been at your current job for less than 4 months and at your previous job for at least 4 months (but less than a year), you can also apply, provided there was no gap between jobs and your probation period has ended or was not applied.
Can I get a refinancing loan while working abroad?
It is possible to get a refinancing loan while working abroad if your employer is a company with Lithuanian capital.
Can I get a loan if I’m self-employed?
Yes, if you are self-employed, you can get a refinancing loan. To qualify, you must have been running your business for at least 6 months. The following documents are required for loan consideration:
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Certificate of self – employment;
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Annual income declaration;
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Bank account statement or income–expense journal (if income is received in cash);
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Issued invoices or cash receipt slips (if income is received in cash).
ChatGPT said: Refinancing for those with existing debts: what you need to know?
If you have debts with financial institutions, a refinancing loan cannot be granted until they are fully repaid. If you only have a small debt to a telecommunications company or other non-financial service provider, a refinancing loan may be granted, depending on your previous credit history, on the condition that the debt is repaid.
Can I refinance a loan if I am late with my payments?
Yes, refinancing is possible if you are late with payments due to temporary, objective reasons and the delay does not exceed one month. However, it’s important to know that your entire credit history is assessed individually in each case, and your creditworthiness must be low-risk.
Can I refinance a loan taken out in someone else's name?
Yes, it is possible to refinance someone else’s loan by submitting an application with a co-borrower. The other person, whose obligations you wish to refinance, should be listed as a co-borrower in the application.