Provident offer what are sometimes called doorstep loans.
This is just a personal loan, except with a friendly, personal service.
Once you've completed your online application, you'll get a decision in principle. If you're accepted at this stage you'll be contacted by a member of the team, who'll arrange to visit you.
On this visit they'll check your proof of ID and check your incomings and outgoings to make sure you can afford the loan.
If you're approved, they'll pop back to give you the cash.
There are two ways to repay a doorstep loan. The traditional way is that your rep comes to your house each week to take your payment in cash.
We've recently introduced Provident Direct, which is a new way to repay.
With Provident Direct, the rep still comes round to take your first payment in cash. During this visit, they'll set up a Continuous Payment Authority (CPA) for your future payments.
This means that as long as the cash is in your bank account the payments will be taken automatically, so you don't have to wait around for your rep to visit.
A CPA gives us permission to collect loan repayments directly from your debit card. We’ll only request payments that we have agreed with you.
If we’re not successfully able to take the repayment, we’ll let you know and arrange a time to visit you at home to discuss. If for any reason we can’t contact you, your payments will continue as agreed for a further week on your preferred date.
This also means that if any of your payments remain outstanding your account will be in arrears. Your payments may be changed to home collection if your CPA fails twice in a row.
If you take out a Provident Direct loan and realise you’d rather repay in cash each week, that’s totally fine. You can switch to weekly home collection at any time. To change, get in touch with your rep, or give us a ring on 0800 096 6064.