• Provident never charge you fees for late repayment
• The interest rate will never change during the course of your loan so you always know the full cost of your loan up front
• There are no hidden extras. Your weekly payment is the only payment you’ll ever be required to pay.
APR stands for Annual Percentage Rate
• An APR shows how much the loan will cost in full, including interest charges.
• APR’s are calculated on a yearly basis, to help consumers compare the cost of borrowing.
• As short term loans are taken out over a shorter period of time, the APR’s may appear to be higher.
You can find out more about APRs here >>
Accepted in principle is a stepping stone to full approval of your loan. To apply for a Provident loan, you first need to complete a form online or over the phone. At this stage of the application checks are carried out to see whether any previous lending data is held about you. This helps inform the decision to lend to you.
At this point if the checks are successful, you will be given a decision of accepted in principle. This means your application will progress to the home visit stage, where an assessment of your income and outgoings will be carried out to ensure the loan is suitable, affordable and sustainable for you. An Agent will also check your proof of ID, address and income.
To start your application online for a Provident loan you will need:
If your initial application is accepted in principle, an Agent will be asked to visit you in your home to assess your income and outgoings. Proof of ID, address and income must be presented during your home visit in order to complete the assessment.
No. You do not need a bank account for a home collected loan as the loan is delivered to your home in cash and the Agent will come round every week to collect cash repayments.
As a new customer you are able to borrow over 26 and 52 weeks, subject to affordability.