Your financial situation has become complicated and you suddenly need additional funds on your account? The solution may be a self-service loan offered by Provident. Is it worth to opt for this option? How does such a loan work, who can take advantage of it and is it worth it? We answer!
How does a self-service loan work?
A self-service loan is a quick and easy way to raise funds. This is because the whole process of applying for money can go online. In practice, therefore, this offer is no different from other online loans available on the market. A self-service loan is available to people who complete the appropriate form available on the Provident website. It usually doesn’t take more than a dozen or so minutes.
In the form, you must provide your personal data and information about the loan you are interested in: amount borrowed, repayment time and possible ways of securing the liability. This process is very intuitive and you will definitely handle it even if it is your first contact with loan companies.
Provident self-service loan – what conditions must be met?
A self-service loan at Provident is much more available than a cash loan at a bank. However, customers still need to meet certain conditions to borrow money. What requirements does Provident place?
- completed eighteen years of age,
- Polish nationality,
- possession of an ID card to prove identity,
- demonstration of stable income – for example, a bank account statement from the last few months,
- having contact details: e-mail address and telephone number,
- showing a positive credit history,
- completing the appropriate application on Provident’s website.
Meeting these conditions does not guarantee that you will be granted a self-service loan. However, Provident does not have such high expectations of customers as banks. Therefore, you have a good chance of receiving the funds you are applying for, even if it is not your first active financial commitment.
Who is the self-service loan for?
Provident self-service loan is dedicated to people who want to raise funds quickly and without excessive formalities. It is mainly used by those who do not want to apply for a cash loan because of the long waiting time for consideration of the decision and the need to meet very extensive formal requirements.
Thanks to it, you can receive a quick injection of cash to finance urgent needs, pay off other obligations or an investment. However, you must remember that a loan is only possible when the company positively assesses your creditworthiness.
People with overdue liabilities that are on the debtor’s register will have a problem with obtaining funds. However, if Provident rejects your application, you can try sending it again.
How to apply for a self-service loan?
The process of applying for a self-service loan is extremely simple and intuitive. It can be done fully online, so it doesn’t take much time. What does step by step look like?
1. Complete the application available on the Provident website
On provident.pl you will find an application to complete, in which you must provide your details, the amount you want to borrow and the period for which you want to make a commitment. After completing the information, you’ll see how much it will cost you to borrow.
2. Accept the offers
If the loan terms suit you, all you have to do is accept the offer with one click. As part of the process, you will immediately create a user account in which you will be able to find out what the loan decision is, and then track the status of the loan repayments.
3. Perform the verification transfer
To confirm your details and willingness to take a loan, you need to make a verification transfer of one zloty to the account specified on your user account. The paid zloty is returned after signing the contract with the loan company.
4. Wait for decision
You don’t have to do anything more than wait for the loan company’s decision. If it is positive, the money will quickly appear in your account.
You do not have to have previous commitments repaid to apply for this loan. You can check the current loan offer in your profile.
What amount can you take out a self-service loan?
As part of the Provident self-service loan, you can borrow from 300 to even 15,000 USD. The maximum repayment period for such a loan is two years. However, you can spread it over a shorter period: three, six, twelve or eighteen months. You can choose the repayment period yourself and at the stage of submitting the application you can see how big the installment of the loan will be depending on the particular option.
However, Provident has prepared special loan options for new customers. What can you decide if this is your first loan in this company?
A start loan for USD 0 for four months
In this option, you can apply for a loan in the amount of USD 500 to 1500, and the APRC will be 0 percent. This means that you can borrow funds without additional costs. You must return the funds in four equal installments.
A loan for 0 USD per month
If you need an ad hoc injection, you can get a loan for a month. In this option you have the option of borrowing from USD 300 to 15,000. If you pay back the loan within a month, you will not incur any additional costs.
Pros and cons of Provident self-service loan
The right choice of loan company and the proposed offer is a safer borrowing and less chance that you will bear unexpected costs. Is a Provident self-service loan worth considering? Before you decide on it, consider its pros and cons.
Early repayment of self-service loan – is it possible?
One question arises if you are interested in a Provident self-service loan – how to pay back so that the cost of the commitment is as low as possible? First of all on time! If you take out a loan for the first time, a timely repayment makes this loan free.
However, early repayment is also possible. It also reduces the total cost of the loan. Before you decide on a self-service loan with Provident, make sure you are able to pay it back on time so that you don’t incur additional costs related to arrears and avoid being entered on the list of debtors!