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Doorstep Loans - Alternative to online short term loans

A doorstep loan is quite different from traditional personal loans. It provides you with instant cash advance up to 1000 directly at your home.

These loans are approved on basis of your personal meeting with the loan officer at your home. The purpose of home visit is simply to analyze the level of risk in lending you money. If you can put a positive impression on the officer about your ability to repay the loan amount, you can get approved very quickly. Sometimes, even a bad credit loan is approved through this process.

How Doorstep Loans work?

Loan application

Getting a cash advance is a lot easier and faster with doorstep loans. You are only required to submit a simple online application form on our website and wait for the lenders to take further from there.

As soon as the lenders receive your application, they will scan through your information to check that you meet all the basic eligibility requirements. If so, a loan office would contact you via phone or email to fix a face to face meeting at your residence. He will then visit you to check all your documents, your financial situation and your plan for making timely repayments. If you put a positive impression on the officer, you can even get approved for a loan instantly. The officer would ask you to sign a loan agreement and provide you with hard cash that you can use for any purpose.

Pros and Cons of Doorstep Loans

These loans are ideal for someone not having a bank account as the lender provide loan amount in cash. The repayment is also typically collected from your home.

For someone with less than perfect credit rating also, these doorstep loans provide an opportunity to get cash advance at time of financial emergencies.

The disadvantage of these loans is that the lender sometimes charges a high interest rate in order to justify their efforts in providing you the doorstep loan facility.

Another setback of these loans is that the loan officer comes to your home to collect the loan repayment exactly on the due date. So, if you are not ready with the cash for making payments, this can cause you embarrassment.

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