Provident doorstep loans review

Provident provides personal loans of £100-£1,000 with cash delivered to your door and repayments collected weekly – also at your home.

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Provident

Definitely one of the older companies in short-term loans, Provident Financial was founded in 1880 with the aim of helping working families provide for themselves. It’s also the parent company of a number of popular credit-providing brands, like Vanquis Bank, Satsuma and Moneybarn. Here’s our review of Provident’s best-known service – its doorstep loans.

Warning: late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk.

Please note: high-cost short-term credit is unsuitable for sustained borrowing over long periods and would be expensive as a means of longer-term borrowing.

Key features of Provident doorstep loans

  • Borrow £100-£1000 for 13, 26 or 52 weeks. Larger sums may not be available over 13-week terms.
  • All situations considered. Provident will consider applications even if you are self-employed, on benefits or have poor credit.
  • Finish your application with a home visit. A member of Provident’s team will visit you in person to ensure your loan is a manageable and sustainable option.
  • Fixed, high interest rates. Because the interest rate is fixed for the duration of the loan, you’ll know in advance exactly what the loan will cost you. However with high rates, this is a very expensive way of borrowing.
  • Cash delivered to your door. If approved, your loan will be delivered directly to your door.
  • Repayments collected from your home. Provident’s CEM’s will collect your repayments from your home each week. It is still possible to pay online and via phone.
  • Personal support. Throughout your loan Provident’s CEM’s will provide personal, face to face support and advice.

Am I eligible?

To apply for a Provident loan you must:

  • Be a UK resident, aged between 18 and 74
  • Have a contact telephone number and your address details for the past 3 years
  • Agree to home visits and affordability assessment

Are there alternative options to a Provident doorstep loan?

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Yes. First ask yourself if the expenditure you’re planning is urgent and essential. If you’re struggling to pay a bill for example, you could try talking to your utility provider about a payment plan. There’s a wealth of free information on alternatives at the government’s moneyadviceservice.org.uk, plus sound advice on managing debt generally.

Other financial products available that you may wish to consider include credit builder credit cards, guarantor loans, logbook loans (secured against a vehicle), high street money shops and online short-term loans.

You can use the tool below to estimate the cost of the loan that you have in mind from some popular online short-term loan providers.

How much money do you need to borrow?


How long do you need to borrow over?


Name Product Available Amounts Monthly repayment Total payable
£50 to £1,500
Representative example: Borrow £200 for 6 months at a rate of 292% p.a. (fixed). Representative 1,333% APR and total payable £386.61 in 6 monthly payments of £64.44.
£200 to £1,500
Representative example: Borrow £400 for 4 months at a rate of 255.5% p.a. (fixed). Representative APR 939.5% and total payable: £597.48 in 4 payments of £149.37.
£100 to £1,000
Representative example: Borrow £400 for 6 months at a rate of 229.95% p.a. (fixed). Representative APR 720% and total payable: £707.01 in 6 monthly payments of £117.83.
£100 to £1,000
Representative example: Borrow £250 for 30 days at a rate of 292% p.a. (fixed). Representative APR 1270% and total payable: £310, in 1 payment of £310.
£50 to £1,500
Representative example: Borrow £250 for 74 days at a rate of 292% p.a. (fixed). Representative APR 1300.5% and total payable: £398.00, in 1 payment of £74.00 and 1 payment of £324.00.
£100 to £1,000
Representative example: Borrow £500 for 5 months at a rate of 292% p.a. (fixed). Representative APR 1,297% and total payable: £867.05 in 5 instalments of £173.41.
£100 to £1,000
Representative example: Borrow £480 for 9 months at a rate of 133.1% p.a. (fixed). Representative 535% APR and total payable £959.04 in 9 monthly payments of £106.56.
£100 to £2,500
Borrow £100 for 8 months at a rate of 204% p.a. (fixed). Representative APR 567% and total payable £199.33 in 8 monthly payments of £19.93. You can repay this loan early.

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Please note: You should always refer to your loan agreement for exact repayment amounts as they may vary from our results.

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What is a doorstep loan?

A doorstep loan is an unsecured personal loan where funds are both issued and collected in person, at your home.

Doorstep loans have come under attack recently as they are not subject to the same restrictions as payday loans. After payday loans received a huge amount of bad publicity, the Financial Conduct Authority (FCA) put limits in place to protect borrowers who used high-cost, short-term credit, but these restrictions did not cover the provision of “home credit” (doorstep loans).

Learn more about doorstep loans

How does a Provident home-collected loan work?

Borrowers can begin their loan application online and receive a provisional loan agreement. Next, a face-to-face affordability assessment will be conducted by an agent, which Provident calls the Customer Experience Manager (CEM), at the borrower’s residence. The agent can also answer any questions the borrower might have. The agent will then return at prearranged times each week to collect repayments until the loan is paid off.

Additional borrowing

If you already have a Provident loan, Provident is willing to offer additional borrowing options. Be advised however, that at the time of writing, home credit is not covered by the same restrictions as many other forms of high-cost, short-term credit as defined by the Financial Conduct Authority (FCA) – meaning that if you roll an existing loan over into a new loan, you could end up paying more back in interest than you initially borrowed. If the loan is not affordable, or you fail to keep up repayments, you could end up with mounting debts in this way.

If you’re experiencing difficulty paying back your loan or would like to take out a bigger loan then you should call Provident’s customer service team or chat to your Customer Experience Manager (CEM) in person. Your CEM is the member of Provident’s team that visits your home. They are there to answer any questions you have.

Frequently Asked Questions

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We exist to help you find better. The offers we've compared on this page are from a range of products whose details we can track; we don't cover every product on the market...yet. Unless we've indicated otherwise, products are shown in no particular order or ranking. The terms "best", "top", "cheap" (and variations of these) aren't product ratings, although we always explain what's great about a product when we highlight it; this is subject to our terms of use. When you make major financial decisions, it's wise to consider getting independent financial advice. Always consider your own financial circumstances when you compare products so you get what's right for you.

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