"This is going to be a fantastic occasion and something we are all looking forward to," Savage told the club's official website.
"Of course we are underdogs, we all know that. They are a Premier League side who have done superbly this season.
"However, we are one of 16 teams still left in the competition and we have to go into the tie not just believing that we can win the game, but with the belief that we can go all the way.
"I mean why not? We have shown that, on our day, we are a match for anyone and a lot of the so-called bigger names in the Premier League have already been knocked out.
"There is no point even taking the field without belief and I for one will be making sure that we are well fired up when the whistle goes at 3pm."
Birmingham have effectively secured their Barclays Premier League status for next season, but come into the tie on the back of a disappointing 2-0 defeat at West Ham in midweek.
Elsewhere on Saturday, two of the nine remaining Premier League sides in the competition clash at Eastlands with Manchester City taking on Stoke.
And Stoke boss Tony Pulis is vowing to give 100% in pursuit of a place in the quarter-finals.
"I am looking to pick a positive team and go there to have a right go," Pulis said. "The game on Saturday is an important one for us and the 5,000 or 6,000 supporters who will make the trip.
"They will want to see the team have a go and we'll want to give it a go. If you can catch it right it is a knockout competition and a one-off game."
Manchester City will be without new signing Adam Johnson, who is cup-tied having played against City for former club Middlesbrough in the third round.
But the youngster has already made a big impression on his team-mates following a superb performance in the midweek win over Bolton.
"Some supporters might have been surprised by the quality and confidence he showed against Bolton but the players weren't," Joleon Lescott told www.mcfc.co.uk.
"He was outstanding in that game. We have seen what he can do in training and we know what he brought to the team in Middlesbrough.
"He can't play in the cup but I am sure he is going to be a really good addition to the squad for us."
Chelsea will be without star defenders Ashley Cole and John Terry for their clash with Cardiff at Stamford Bridge.
Cole has been ruled out for up to three months with a fractured ankle suffered in the 2-1 defeat at Everton, while Terry has been given compassionate leave to spend time with his wife in Dubai following allegations about his private life.
In contrast Cardiff will simply be glad to be allowed to play the game after having a winding-up order adjourned for 28 days in the High Court earlier this week.
Saturday's other ties see Championship strugglers Reading at home to league leaders West Brom and what is sure to be a fiery clash on the south coast between Southampton and Portsmouth.
Birmingham 6/5, Derby 9/4, Draw 12/5