Multiple banks. Different interest rates. Call it a "conflict of interest".
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    We found 31 Doorstep Loans

    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    11.49% - 15.99% Fixed
    0.5%
    30L Max
    1-5 Years
    Response Time Within 30 minutes
    Rs.1,000 Amazon voucher free Ad
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    Customer Reviews
    10.99% - 14.49% Fixed
    0
    30L Max
    1-5 years
    Response Time Within 30 minutes
    Rs.1,000 Amazon voucher free Ad
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    Perks
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    Fees & Charges
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    Customer Reviews
    12% - 18% Fixed
    Up to 1.5% One time fee
    15L Max
    1-5 years
    Response Time Within 30 minutes
    Rs.1,000 Amazon voucher free INSTANT DECISION
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    Customer Reviews
    11.99% - 19.50% Fixed
    0 One time fee
    20L Max
    1-6 Years
    Response Time Within 30 minutes
    Rs.1,000 Amazon voucher free Paperless approval option available
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    Fees & Charges
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    Eligibility Criteria
    Customer Reviews
    13.99% - 16.99% Fixed
    1% - 2% One time fee
    20L Max
    1-5 years
    Response Time Within 30 minutes
    Rs.1,000 Amazon voucher free Paperless Approval Option Available
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    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    11.00% - 17.99% Fixed
    2.25% (min. ₹1149) One time fee
    20L Max
    1-5 Years
    Response Time Within 30 minutes
    Rs.1,000 Amazon voucher free Paperless approval option available
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    Perks
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    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    10.85% - 11.85% Floating
    0.5% One time fee
    50 K - 10 L
    1-5 Years
    Response Time Within 30 minutes
    Guarantor Required Paperless approval option available
    What you'll love
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    Eligibility Criteria
    10.99% - 19.8% Fixed
    Up to 2.5% One time fee
    25L Max
    1-5 years
    Response Time Within 30 minutes
    Paperless approval option available
    What you'll love
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    Perks
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    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    11.99% - 19% Fixed
    Up to ₹3000 One time fee
    25L Max
    1-5 years
    Response Time Within 30 minutes
    Rs.1,000 Amazon voucher free Paperless approval option available
    What you'll love
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    Perks
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    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    17.25% - 37% Fixed
    1.5% to 6.0% One time fee
    15L Max
    1-4 Years
    Response Time Within 30 minutes
    Paperless approval option available
    What you'll love
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    Perks
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    Fees & Charges
    Good to Know
    Eligibility Criteria
    11.49% - 20.15% Fixed
    Up to 2%
    15L Max
    1-5 years
    Response Time Within 30 minutes
    Rs.1,000 Amazon voucher free
    What you'll love
    Documents
    Perks
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    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    11.5% - 13.25% Fixed
    0 One time fee
    30L Max
    1-5 Years
    Response Time Within 30 minutes
    Rs.1,000 Amazon voucher free
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
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    Doorstep Loans is Rated as "Great!" by 76273 Users

    Fees & Charges

    Promised Interest Rate

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    Personal Loan BYTES FROM OUR KITCHEN

    What is a Doorstep Loan?

    Doorstep loans, also known as home credit, are unsecured loans which can be taken for smaller sums of money. The borrower can get the money delivered at their doorstep by an agent who will come to collect the repayment instalments, usually on a weekly basis. Interest for these loans is calculated on pre-set rates and the loan amount is disbursed in one or two days. These loans have minimum eligibility requirements.

    Doorstep loans are delivered by agents in your locality who provide a personal touch to the whole lending process. The agents are entrusted with analysing the customers’ requirements and offer credit as per their needs. All this is done as a ‘doorstep service’ where the borrower gets the money delivered comfortably to their residence. The credit agency will understand your particular requirements as well as your circumstances, allowing you to borrow only the amount you are certain you can repay without too much burden on your finances.

    Repayment of doorstep loans is done after you decide on the tenure for repaying the loan. Once you reach an understanding with the credit provider, an agent will come to your house every week to collect the pre-decided instalment for the repayment. What’s more, if you are unable to repay an instalment, the agent can help you with further financial planning and you may get leeway while missing a payment.

    The instalments are calculated for both the principal borrowed amount, as well as the accruing interests on the loan. The weekly instalment that you have to pay includes both interest and principal, where the interest is calculated on pre-decided fixed rates. This gives you a surety of the amount that you have to repay, so that you can accordingly borrow and repay the amount.

    Loan amounts in doorstep loans are generally low. For instance, in the UK first time doorstep loan applicants are offered credit up to £500. Repeat borrowers may be offered higher credit to the tune of £1,000. The smaller amount makes this loan an attractive choice for people simply looking to pay bills or go for a local holiday. Ideally, a doorstep loan should be opted only when you have exhausted other means of credits such as bank loans.

    Doorstep loan eligibility

    Doorstep loans have very few eligibility requirements. You have to be a resident of the country you are applying in. You have to be at least 18 years old. In general, you should have a steady source of income, preferably as a salaried employee. Self-employed people can also avail doorstep loans provided they can furnish proof of their income. Some providers may also ask for a minimum income requirement before disbursing doorstep loans to you. Some providers may also go for credit checks at the time of loan processing.

    Documents required for doorstep loan

    There are minimal documentation requirements when applying for a doorstep loan. In general, you have to submit the following documents to the credit agency:

    • Photographic ID such as driving license, passport etc.
    • Address proof such as utility bill, mortgage statement, credit card statement, pension statement etc.
    • Brief proof of income such as wage slips, bank statements etc.

    Some providers also seek information on your current account apart from a valid debit card. These documents should be enough to get you going with the doorstep loan application. Ideally, these should be enough for your application, but you may have to furnish other documents pertaining to your finances if your provider so seeks.

    Doorstep loan for unemployed

    There are a few companies that provide doorstep loans to unemployed people, however some companies may reject your application in such cases. This is because the loan provider does not see a viable option in disbursing loans to you as you are in a risk of defaulting for extended periods of time. You can still explain your current situation to the loan agent and they may consider your application. Doorstep loans are generally informal loans, and as unemployed people might also get their applications processed.

    Doorstep loan with no credit check

    The credit check process of a doorstep loan is very informal. These are amazingly flexible loans, wherein the decision to disburse a loan to you is not entirely based on your credit history. The final decision for the loan approval depends on your existing situation as well as your ability to make the regular repayments comfortably in future. As such, the lenders tend to focus on your future abilities for repaying rather than your past credit history, which can be a relief to a lot of people looking for unsecured personal loan of small amounts. At most, the loan agent will conduct a cursory evaluation of your past credit history.

    Doorstep loan for bad credit

    These loans are ideally suited for people with bad credit history. As discussed above, only a rudimentary check of your credit history is done by the lender. And this credit check is more of a standard procedure than a real issue when disbursing loans. The loans are provided on your ability to make regular repayments, rather than how you handled your finances or credits in the past. And being smaller loans, a credit history doesn’t make much of a difference in ascertaining your repayment capability.

    Doorstep loan interest rates

    The interest rates on these loans are rather high. The representative APRs are generally upwards of 100%, and in worst cases can be as high as 1,500%, which signals repaying a lot more than you actually borrowed. The repayment tenures generally range from 14 weeks to 52 weeks. APR stands for Annualized Percentage Rate, which is an indication of the overall interest you will pay to the lender in a year. However, APR does not necessarily provide an accurate description of the overall interest, as most of the doorstep loans are for smaller tenures. For instance if you repay the credit within 14 weeks, the overall interest that you paid will be lower than the APR, which is calculated if your extend the repayment tenure throughout the year.

    Doorstep loans also do not include any late charges or penalties on skipping a payment. Also, the extra interest won’t build up as with every repayment, the loan amount gets reduced by the amount you've repaid. These loans also include fixed rate interests to give you clear figures for repayment.

    Doorstep loan features and benefits

    The major feature and benefits of doorstep loans are as follows:

    • Instant approval: The whole process from when you make the first telephonic enquiry to the actual disbursement of loan takes between 2-4 days, making it a very quick option.
    • Personal touch: The personal doorstep service add comfort to the whole process, and in most cases the same representative will be collecting the repayments every week. This increases trust on your part.
    • High interest: These loans generally come with a high rate of interest, so you need to be careful when applying for a doorstep loan. The amount you borrowed may not be much, but the added interest can put a hole in your pockets in the long run.
    • Credit history non-issue: The credit history is just skimmed over in most cases as the actual quality the lender is looking is whether you will be able to repay the credit in the near future from earnings in the future.
    • Trading vouchers: Some doorstep lenders may offer you trading vouchers and cheques. The vouchers can be redeemed for good, primarily soft furnishings and clothing, and at specific outlets as defined by the lender.
    • No penalties: Late or missed repayments do not attract additional charges. The agency representative may also help you out with technicalities so that future payments are in order.
    • Affordability: The loans are generally provided for low amounts, and as such repaying them should not be too much of a problem. However, the interest rates are pretty high and you can get overwhelmed by the interest if you don’t repay the whole loan in time.
    • Convenience: The loans are disbursed and repayments collected right from your doorstep, making the whole process hassle-free and painless.
    • Transparent: The loan amount, interests and repayment figures are clearly outlined before the loan is disbursed so that you don’t get blindsided by hidden charges.
    • Choosing lender: Be sure that your chosen lender is adequately certified by authorities. An uncertified doorstep lender can be a loan shark, in which case you should report the lender immediately to relevant authorities.

    Doorstep loan application process

    The whole process can be completed within 3-5 days at most. Once you have made an inquiry on the phone or online, the lender will send a representative to your house. This person will ascertain your financial position, your requirements and collect all the required documents. The loan will be disbursed on the very next day if the process is complete and your documents are found to be in order. Moreover, when you have decided the frequency of repayments, the same representative may come every time to collect the money from your home.

    Banks offering doorstep loans in India

    Doorstep loans are currently not offered in India. However, you can opt for doorstep servicing from banks such as Axis Bank, HDFC Bank, ICICI Bank, IndusInd, Kotak Bank etc. who provide doorstep services wherein a representative from the bank can be called to your house to get information and complete formalities for various banking services. You can check out BankBazaar.com for a full list of banks in your area who provide easy banking services such as doorstep collection. Furthermore, you can also compare and apply for different products such as personal loans, home loans, car loans, fixed deposits, credit cards etc. online from the comfort of your home.

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  • Doorstep Loans Reviews

    • HDFC Bank Personal Loan
      "Customer friendly experience"
      0.5 5.0/5 "Blown Away!"
      HDFC is very good, I am very much happy the offer which they provided on the personal loan. I took the loan of Rs. 2.8 lakhs and I done one more balance transfer from ICICI to Hdfc for the amount of 3.5 lakhs. HDFC offered the interest rate 12% I am fine with that.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jun 28, 2017
    • Bank Bazaar Customer Support
      "Very Good service"
      0.5 4.5/5 "Excellent!"
      I know about bank bazaar through Google web search. I am with bank bazaar for past 2 years. I have used bank bazaar mobile application and web portal both are working good. The bank bazaar mobile application has better features. The bank bazaar customer service helped me to get in touch with the bank partner.
      Was this review helpful? 0
      , lucknow
      Reviewed on Jun 28, 2017
    • ICICI Bank Personal Loan
      "Good Service"
      0.5 4.5/5 "Excellent!"
      The ICICI bank has rejected my personal loan application , saying that my salary didn't met their eligibility criteria , and they asked me to approach after 3 months. The customer service with ICICI bank is really good. The rate of interest is nominal with ICICI bank.
      Was this review helpful? 0
      , lucknow
      Reviewed on Jun 28, 2017
    • Bank Bazaar Customer Support
      "Good Financial Advisor"
      0.5 4.0/5 "Great!"
      Bank Bazaar is very big website, when I raised a request for the personal loan. I got a call and they arranged the executive to collect my documents and they connected with the bank and they provided so many options, Overall I felt its a good website.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jun 28, 2017
    • Citibank Personal Loan
      "Communication part should be improved"
      0.5 1.0/5 "Really Bad"
      I have submitted my documents to the CITI bank for the personal loan and I got my loan reference number. Then whenever I tried reaching their customer service, they were telling they haven't receive my documents. There was no proper coordination with me. It would be great if they communicate the application status to the customer.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jun 28, 2017
    • Bank Bazaar Customer Support
      "One stop solution"
      0.5 4.0/5 "Great!"
      I appreciate the timely response of Bank Bazaar and they helping to get the exact product what we expecting on our financial needs. I am very satisfied about their loan process, their people are very professional in term of servicing. The website is easy to use, but I would like to suggest them to provide multiple option.
      Was this review helpful? 0
      , indore
      Reviewed on Jun 28, 2017
    • Capital First Personal Loan
      "Interest rate should be flexible"
      0.5 3.0/5 "Satisfactory"
      When I was need in a need, I thought to go with Capita First but they were charging high rate of interest and processing fee compared to other competitor. Even I requested Capital First to reduce the charges but they denied to process. Hence I dropped the plan to go head with Capital First.
      Was this review helpful? 0
      , indore
      Reviewed on Jun 28, 2017
    • Bank Bazaar Customer Support
      "Very Good service"
      0.5 4.0/5 "Great!"
      Bankbazaar paves the way for the customer to know the best offer along with the best partner bank in the market. All the offers are available at one place so that there is no need for me to go anywhere to check the rates. I got to know about bankbazaar through promotional mails. I am with bankbazaar for the past one year also the site is very much easy to use and user friendly.
      Was this review helpful? 0
      , secunderabad
      Reviewed on Jun 28, 2017
    • ICICI Bank Personal Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      Presently, I am living and working at one place however I had applied for a personal loan at a different locality. Therefore ICICI executive confirmed that both my residential and work place were different and that was the reason why I did not opt for the personal loan. Rate of interest seems to be normal also the customer service and response provided by ICICI Bank is good.
      Was this review helpful? 0
      , secunderabad
      Reviewed on Jun 28, 2017
    • Bank Bazaar Customer Support
      "Informative Site"
      0.5 5.0/5 "Blown Away!"
      Bank Bazaar is giving quick response, they were calling the customer on time. I have been using Bank Bazaar site around three years its good. whenever I have any financial needs I used to visit Bank Bazaar site for any financial assistance because its very informative.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 28, 2017
    • Bank Bazaar Customer Support
      "The process is very very smooth"
      0.5 5.0/5 "Blown Away!"
      Applying any loans, card etc process is smooth. The customer service officers behaviour is very good. Time period less. I got Immediate response from bank Bazar They guided the customer how to handle cards. How to maintain cibil etc and their website is very much understandable,.
      Was this review helpful? 0
      , faridabad
      Reviewed on Jun 28, 2017
    • Bank Bazaar Customer Support
      "Very Good service"
      0.5 5.0/5 "Blown Away!"
      I got so many calls from bank bazaar in regards to my personal loan application. The customer service with bank bazaar is really good in their response . One of my friend referred me to go with bank bazaar . I am with bank bazaar for past 4 months. I have applied personal loan through bankbazaar web site which is easy to use and user friendly.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 28, 2017
    • HDFC Bank Personal Loan
      "Better Service"
      0.5 4.0/5 "Great!"
      At present I don't require any personal loan. Then one of the HDFC bank executive has told that my salary haven't met their eligibility criteria again one more executive gave a call and told I am eligible to get the loan, the information need to be transparent with HDFC bank. The rate of interest is nominal with HDFC . I got a good service with Hdfc but still they can do better.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 28, 2017
    • HDB Financial Services Personal Loan
      "Document Process should be easier and reliable to all"
      0.5 3.0/5 "Satisfactory"
      HDB Finance asked me to give my relative details as reference who have own property. Hence I don't interest to process with them. Response part was good, I got a call from them, even they discussed about the loan process and gave me reasonable interest rate and processing fee it was fine.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 28, 2017
    • HDFC Bank Personal Loan
      "Its Good"
      0.5 3.0/5 "Satisfactory"
      It was first loan with HDFC, at the time I am not aware of the loan process. But I have good relation ship with the HDFC, I have taken the amount of Rs. 1.5 lakh with some good interest. Then my loan got closed without any hassles and also I received NOC letter from HDFC.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 28, 2017
    • Bank Bazaar Customer Support
      "Good Website"
      0.5 4.0/5 "Great!"
      I do got a quick response from Bank Bazaar, they were maintaining a good relation ship between bank and the customer. I got a very good service from them, Earlier I had taken some financial products through this site Bank Bazaar and it did work out . I am very much fine to use this site.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 28, 2017
    • Standard Chartered Bank Personal Loan
      "Its Good"
      0.5 3.0/5 "Satisfactory"
      Right now, I have hold the plan because I have some financial issue hence I thought to process later. Standard Chartered service is nice, they called and explained about the loan process. I am very fine with that but due my personal issue I have not process with them.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 28, 2017
    • Bank Bazaar Customer Support
      "Very Good service"
      0.5 3.0/5 "Satisfactory"
      One of my colleague referred me to go ahead with Bank bazaar, after getting in to bankbazaar it was very much easy to compare and choose the product with different bank partners and they were offering good rate of interest too. Customer service rendered by bankbazaar is too good and they are really good in providing response too.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jun 28, 2017
    • ICICI Bank Personal Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      There was a duplicate account issue with ICICI bank, initially they rejected my loan later 2nd time they approved my personal loan. The rate of interest levied by them is way too high when compared with others. Both customer service and response provided by ICICI bank was really good.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jun 28, 2017
    • HDFC Bank Personal Loan
      "Very Good service"
      0.5 5.0/5 "Blown Away!"
      I had closed the personal loan before 3 years, this loan was taken before 6 years. Within 3 days of time the personal loan got disbursed by HDFC. The rate of interest is very much competitive. Customer service and response provided by them was okay. Processing fee charged by them was 1% and even some additional charges were also applicable. I am completely happy with the loan amount too.
      Was this review helpful? 0
      , zahirabad
      Reviewed on Jun 28, 2017
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