Our loans

1. What is a short-term loan?

   • You can choose to take your short-term loan over 23, 31 or 52 weeks.

      

     We’re here to help as little or as much as you need. Just choose the amount you’d like to take and how long you’d like to take to pay it back.

      

     You can apply for one now and get a decision in principle online.

2. Do you offer loans to tenants?

   • Yes, we can offer unsecured loans to tenants and other people who do not own their own homes; many of our customers are tenants in private, council and housing association properties.

      

     If you’re interested apply online today.

3. How is Provident different to a normal Loan Lender?

   • We are a home credit lender, which means we provide a friendly home collected credit service.

      

     With us, your own agent discusses what loan you would like, gives you the money and collects repayments in person every week. This level of personal contact is at the heart of our service and sets us apart from normal lenders.

      

     Also, we are not concerned about your past credit history – instead, we are interested in your current circumstances and your ability to repay a loan. So, unlike normal lenders, we are happy to consider your application even if you have a bad credit history, including CCJs.

      

     Finally we also offer you loans for very small amounts – our small loans start from just £50.

4. Do you offer flexible repayment loans?

   • We believe in a straightforward approach to loans. Our small, unsecured loans have fixed weekly repayments with no hidden fees or late payment charges.

      

     We are flexible in that, unlike traditional loans, if you miss a payment with us, we don't increase the cost of your loan.

      

     We're flexible about how you borrow from us too – as well as Cash Loans, we offer Love2shop Vouchers and the Provident Money Card.

5. How are agent-collected loans different to other loans?

   • Agent-collected loans are different because our agents call at your home to collect your repayments. To find out more about our agents visit What is an agent.

      

     Agents are paid commission on how much money they collect, not how much they lend. So it's in their interest to make sure you only borrow what you can afford to pay back.

      

     Finally, agent-collected credit gives you the option to borrow small amounts – we offer loans starting from just £50.

6. How do I get cash in a hurry?

   • If you need a fast cash loan, complete our online application for approval in principle in just minutes - and your cash could be delivered to your door within days.

      

     Go to our quick and easy application form to Apply Online.

7. What is a doorstep loan?

   • A doorstep loan is just another name for home collected credit, or home credit.

      

     Home credit is a friendly, personal service that provides small loans with manageable repayments, which are collected every week from your home.

      

     The collections are made by your own agent and the whole idea of home credit is that you feel in control of your finances by arranging easily managed repayments.

8. Can I get a Provident loan before payday?

   • We don't offer payday loans.

      

     However, you can get a loan from Provident at any time, repayable over a more manageable term than your next payday.

9. What is a bad credit loan?

   • If you have a history of bad credit, loans can be difficult to come by.

      

     Because we treat everyone as an individual you might find that we could help even if your credit history is not as good as it could be, if you’ve been turned down before or even if you’re not working at the moment.

      

     As a responsible lender and the last thing we want to do is encourage further bad credit – so we only lend fixed, sensible amounts of money that you can repay comfortably each week.

10. What is Home Credit?

    • Home credit (also known as home collected credit) is a friendly, personal service that provides small loans with manageable repayments. They’re collected each week from your home by your own agent.

       

      These agents do not receive commission based on how much they lend, but how much they collect. That means it's not in their interest to lend more than you can comfortably afford to repay.

       

      The whole idea of home credit is that you feel in control of your finances, and can manage the repayments easily.

       

      Find out more about our agents

11. When do I start paying the money back?

    • You start paying the money back seven days after you receive your loan. Your agent will come and collect it from your home.

       

      You will be given a payment book in which all your weekly repayments are recorded. This helps you know where you are with your repayments, so you should keep it in a safe place.

12. How much is it going to cost me?

    • This depends on the type of loan you want and the number of weeks that you want to repay it over. We will make sure that your repayments are realistic and are affordable for your circumstances.

       

      You can find out more using our Loan Calculator.

13. What is the APR for my loan?

    • The Annual Percentage Rate (APR) on your loan will depend on how much you want to borrow and how many weeks you choose to repay it over.

       

      Once these have been agreed with your agent, they will be able to tell you what the APR for your loan is.

       

      If you want to find out more about APRs, visit our APR explained page.

       

14. Are there any extra charges?

    • The simple answer is no. 

       

      Unlike many high street banks and credit card companies, we do not charge for missed payments or overdraft facilities.

       

      At Provident we pride ourselves on being friendly and straightforward, and on having no extra charges, even if you miss a payment.

15. What happens if I want to settle my account early?

    • You should contact your Agent to discuss your loan.

       

      They’ll explain what happens if you pay your loan off early and whether we owe you any money.