Doorstep loans, also known as home collection loans and home credit loans, are a type of personal loan. As the name suggests, the cash loan is delivered to your doorstep.
Doorstep loans give customers an opportunity to discuss their credit needs and financial circumstances face to face in their home. Many customers prefer this service as it enables them to fully manage their repayments in the comfort of their home, at a time and day that suits them.
A member of our dedicated team will visit your home on a weekly basis to collect your loan repayments.
All Provident employees carry official ID at all times, so you'll always know who you're talking to.
With a Provident doorstep loan there are no hidden charges or fees for late payments. If you encounter any problems repaying your loan our team will be able to discuss your circumstances and what options are available to you.
You can apply for a Provident loan in three steps:
When you’re looking to borrow money, arranging to have a cash loan delivered straight to your door can be a straightforward and convenient option.
Just like other kinds of borrowing, a doorstep loan can either have a positive or negative impact on your credit rating, depending on how well you manage it.
Cancelling your loan
If you change your mind and want to cancel your loan, that’s OK. You just need to do so within 14 days, starting from the day after you signed your loan agreement. Give our Customer Service team a call on 0800 096 6064, or speak to your Customer Experience Manager (CEM), and we'll tell you how much you need to repay (the loan amount plus the daily interest amount) and when you need to pay it by.
Early Settlement Balance (ESB)
As a customer, you're entitled to settle your loan early (except in the last 13 days of the term). This is known as Early Settlement. You will be provided with what is known as an Early Settlement Balance (ESB). Paying the ESB will result in you receiving a rebate of interest on part of the loan, reducing the overall outstanding balance due. This means you will pay less interest than originally agreed upfront. The ESB is the amount you would need to repay to settle the account in full before the end of the agreed term. This is accounted for in any ESB quote provided. You can request a written quote by contacting the Contact Centre on 0800 096 6064.
Partial Early Settlement Rebate (PESR)
When you make an over-payment you may be entitled to a Partial Early Settlement Rebate (PESR). The rebate reduces the amount of interest payable over the remaining term of the agreement. The rebate of interest is not given to you in cash, it will reduce the amount you owe. At the time you overpay, your CEM will be able to give you more information regarding PESR.
If you find yourself in a situation where you think you can’t make your next repayment or you’re struggling with how much you need to repay, speak to your CEM or Click here to find out more.
In short, yes. We look at a number of things including your credit rating, income and outgoings to see what you can afford before making any decisions. This is to ensure you can afford your repayments throughout the life of the loan.