An overview of IPF’s view on
Responsible Lending

Our commitment to customers is embedded into our company and the way we do business. 

  • We only lend to customers who can prove they have a regular, secure income and can afford their repayments.
  • We practice forbearance. Customers who choose our home credit service incur no extra charges for missed or late repayments. We provide transparent loans with clear guidance at the outset on how much the customer will repay
  • We promote financial inclusion. We lend to customers who are often underserved by mainstream banks, helping them to access credit which may be unavailable elsewhere. We also work with credit bureaux to help well-paying customers establish a positive credit history.
  • Our agent model helps us to lend responsibly. Agents form relationships with customers, allowing them to assess the ability to repay and customers’ circumstances. Agents are rewarded primarily on loan collection rather than sales which helps to ensure that they loan only what customers can afford to repay.

A recent study by GfK showed that amongst our European home credit customers;

 

The most common consideration when taking out credit is whether they can afford loan repayments and the second is the total cost of credit