Consumer Credit Division

In May 2021, we announced the regrettable decision that CCD would be placed into managed run-off for the remainder of the year. The businesses that sit within CCD, Provident and Satsuma, will no longer be issuing new loans to customers.

Provident Home Credit

Provident was the largest home credit business in the UK and Ireland. Every week, local Representatives (Reps) would visit our customers, to issue loans and collect repayments.

Provident offered home credit loans, between £100 and £3,000, through a network of Reps who called each week to customers’ homes in the UK and Ireland.

Reps were at the heart of the Provident home credit business. Often, they came from the same communities as their customers so had a real understanding of their customers' needs and circumstances.

Unlike other forms of lending, home credit included all the costs up front. There were no extra charges whatsoever, even if a customer misses a payment. For those managing on a tight budget, it’s important to know that the amount to be repaid is fixed at the start and will never go up.

Satsuma Online Loans

Satsuma started trading in 2013, offering online, short-term loans in the non-standard credit market.

The company was launched with the concept of supporting those who wanted to borrow money, but didn’t want to go through the face-to-face process that Provident Financial plc provides.

How a Satsuma loan worked

Following a successful online application, including affordability and credit bureau checks, loans were delivered directly to customers’ bank accounts. A member of our UK-based Customer Care Team would be available throughout the term of the loan if support is required.

Repaying a Satsuma loan

Repayments are collected automatically by CPA (continuous payment authority). The full cost of a Satsuma loan and the fixed, manageable repayment schedule were agreed with customers upfront. However, if their circumstances change, the structure of our loans allow for flexibility in the repayment schedule without incurring any late fees or additional charges.