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

    We found 32 Doorstep Loans

    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    10.99% - 15.99% Fixed
    1% to 2.5%
    30L Max
    1-5 Years
    Response Time Within 30 minutes
    Rs.1000 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.1000 Amazon voucher free Ad
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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.1000 Amazon voucher free Ad 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.1000 Amazon voucher free Paperless approval option available
    What you'll love
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    Perks
    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.1000 Amazon voucher free Paperless Approval Option Available
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    11.59% - 18.49% Fixed
    2.25% (min. ₹1149) One time fee
    20L Max
    1-5 Years
    Response Time Within 30 minutes
    Rs.1000 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
    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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    Good to Know
    Eligibility Criteria
    10.99% - 19.8% Fixed
    Up to 2.5% One time fee
    25L Max
    1-5 years
    Response Time Within 30 minutes
    Rs.1000 Amazon voucher free Paperless approval option available
    What you'll love
    Documents
    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.1000 Amazon voucher free Paperless approval option available
    What you'll love
    Documents
    Perks
    Think about
    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
    Rs.1000 Amazon voucher free Paperless approval option available
    What you'll love
    Documents
    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.1000 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.1000 Amazon voucher free
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria

    Doorstep Loans is Rated as "Great!" by 73464 Users

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    Promised Interest Rate

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    Personal Loan BYTES FROM OUR KITCHEN

    What is a doorstep loan?

    A doorstep loan, also known as home credit, is a type of Unsecured Personal Loan that is easily available and offers flexibility in repayment. These loans are ideally available for small amounts and are generally disbursed within a day or two. The loan is designed to meet the specific requirements of people with modest incomes. These loans are preferred by customers due to the affordable small amounts of money disbursed, as well as the transparency, flexibility, and convenience offered while repaying the loan.

    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

    • Bank Bazaar Customer Support
      "very nice and bank bazaar forwarding to digital India"
      0.5 5.0/5 "Blown Away!"
      Good to see this digital india on bank bazaar this is what i am looking for less paper work more comfort Go DIGITAL AND DO DIGITAL MAKE INDIA DIGITAL.All the best to bank bazaar.
      Was this review helpful? 0
      , hyderabad
      Reviewed on May 20, 2017
    • Bank Bazaar Customer Support
      "Supportive Service"
      0.5 4.5/5 "Excellent!"
      Customer service is very good with Bankbazaar. They provided an excellent service. I was regularly followed up by bankbazaar on my loan application. I did not go through with any issues with them because they assisted me well in selecting the bank as well for the loan.
      Was this review helpful? 0
      , chennai
      Reviewed on May 20, 2017
    • Standard Chartered Bank Personal Loan
      "The Best Service"
      0.5 5.0/5 "Blown Away!"
      I availed personal loan from Standard Chartered Bank. During the process, I got good service from them, I never found any challenges with the bank for my loan. I am quite happy with the rate of interest. Also I do not have any suggestions in particular for SCB.
      Was this review helpful? 0
      , mumbai
      Reviewed on May 20, 2017
    • Bank Bazaar Customer Support
      "Good finacial website"
      0.5 4.0/5 "Great!"
      Bank Bazaar gave immediately response from your end. I received regular follow ups on loan application. They have connected with the banks without any hassle. The portal is looking very good to check all the banking information through online.
      Was this review helpful? 1
      , mangalore
      Reviewed on May 19, 2017
    • HDFC Bank Personal Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      HDFC offered 13.75% of interest on personal loan it is nominal, but still other banks are giving lower interest rate. My loan amount is Rs.1.9 lakhs with the tenure of three years but for the foreclosure option some charges are applicable with HDFC.
      Was this review helpful? 1
      , mangalore
      Reviewed on May 19, 2017
    • Bank Bazaar Customer Support
      "Wonderful "
      0.5 4.0/5 "Great!"
      This is my first time experience with the Bankbazaar.com, also I got the call from the bankers regarding the financial queries. Within a week of time, everything got happened because of Bankbazaar.com. Website really helps a lot to get the financial decision.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 19, 2017
    • HDFC Bank Personal Loan
      "Excellent "
      0.5 4.0/5 "Great!"
      My experience with the HDFC bank was very good and it was fast too. HDFC bank executives have really worked well for me , also they have explained about the personal loan process very clearly. Rate of interest was not a constraint for me on that time.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 19, 2017
    • HDFC Bank Personal Loan
      "Good overall"
      0.5 3.0/5 "Satisfactory"
      I have taken a personal loan earlier with HDFC Bank and I am happy that I faced no hassles in getting my loan through. The customer support is good and the papers was minimal. The rate of interest and processing charges was average. Overall a good experience.
      Was this review helpful? 0
      , chennai
      Reviewed on May 19, 2017
    • Bank Bazaar Customer Support
      "Supportive services"
      0.5 5.0/5 "Blown Away!"
      The services at Bankbazaar has been good and very much satisfactory. They know how to handle the customer and they check about the customer requirement and the proceed accordingly. The website is also very simple and any lay person can access it.
      Was this review helpful? 0
      , chennai
      Reviewed on May 19, 2017
    • HDFC Bank Personal Loan
      "High ROI & charges"
      0.5 5.0/5 "Blown Away!"
      The services was excellent from HDFC Bank and they contacted me immediately for the personal loan. I could not proceed ahead for it because of my existing loans with the bank. The rate of interest was very high. It was around 17% and the processing charges are high too.
      Was this review helpful? 0
      , chennai
      Reviewed on May 19, 2017
    • Bank Bazaar Customer Support
      "Wonderful "
      0.5 5.0/5 "Blown Away!"
      Bankbazaar.com is very good and the experience too. I am using Bankbazaar.com and from the month of march onwards, I am using Bankbazaar.com. I have not experienced much with them. Online portal of the Bankbazaar.com is easy to access. Within twenty minutes of time, I got the response from the Bankbazaar.com.
      Was this review helpful? 0
      , kolkata
      Reviewed on May 19, 2017
    • Standard Chartered Bank Personal Loan
      "Excellent "
      0.5 4.0/5 "Great!"
      Rate of interest was around 13.5% and the customer service was good one with the Standard chartered bank. The only drawback with the Standard chartered bank was that they were not able to make the EMI with my savings account,. Processing charges were nil with them for the personal loan. Within fifteen to seventeen days of time the loan amount got credited.
      Was this review helpful? 0
      , kolkata
      Reviewed on May 19, 2017
    • Bank Bazaar Customer Support
      "Very good experience"
      0.5 5.0/5 "Blown Away!"
      Bankbazaar.com is very good and they were very much transparent in providing the deal, also their action was an immediate one with them. Services are the major aspects,. which I really like most , also their follow ups were good with the customer too.
      Was this review helpful? 0
      , pune
      Reviewed on May 19, 2017
    • Standard Chartered Bank Personal Loan
      "Better "
      0.5 4.0/5 "Great!"
      Experience was good with the Standard chartered bank for the personal loan, which I had taken. 11.99% was rate of interest and it changed because of the new financial year. Loan amount got disbursed to my account immediately . Overall, especially at this instant , it was the best moment with them.
      Was this review helpful? 0
      , pune
      Reviewed on May 19, 2017
    • Bank Bazaar Customer Support
      "Very good platform for people looking for financial products"
      0.5 5.0/5 "Blown Away!"
      Bank bazaar is an innovative site ,which surely gives best deal to their customers. It would be great if bankbazaar itself provides the financial products in the market. The bank bazaar web portal is extraordinary, easy to use and user friendly.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 19, 2017
    • Capital First Personal Loan
      "Prompt service"
      0.5 5.0/5 "Blown Away!"
      The process was completed in a pretty fast way. Within 4 to 5 days my loan got disbursed. The rate of interest alone kind of high, when compared with other banks. The interest rates can be decreased in future. Overall I would say, the service is prompt and good with Capital First.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 19, 2017
    • Bank Bazaar Customer Support
      "Good and very customer friendly service"
      0.5 5.0/5 "Blown Away!"
      I was facing problem to get a personal loan for a very long time, but after I came to know about bank bazaar, I can say it is very easy process to get any product through bankbazaar.com. Bankbazaar web portal is easy to use and customer friendly. The response and the customer support is very good with bankbazaar.com. Overall I am happy with the bank-bazaar service.
      Was this review helpful? 0
      , jalandhar
      Reviewed on May 19, 2017
    • ICICI Bank Personal Loan
      "Average service"
      0.5 3.0/5 "Satisfactory"
      I have provided my salary account details for my personal loan disbursement. The loan got disbursed on 31st of march but the amount got credited after 20 days. ICICI normally take 3 to 4 days to disburse the loan but they took around 20 days. There was a miscommunication happened with the account details. The rate of interest is on higher side, when compared with others. Overall the service is average.
      Was this review helpful? 0
      , jalandhar
      Reviewed on May 19, 2017
    • Bank Bazaar Customer Support
      "Fabulous"
      0.5 5.0/5 "Blown Away!"
      After logged in, I got the call from the Bankbazaar.com within few minutes of time. Online portal of the Bankbazaar.com is easy to access, also I got the calls from them immediately and I would like to suggest that they can make calls in a single point of contact. Response is also an immediate one with them.
      Was this review helpful? 0
      , secunderabad
      Reviewed on May 19, 2017
    • Bank Bazaar Customer Support
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      Via advertisements and through web searches I came to know about bankbazaar.com. The web portal of Bank bazaar is really easy to use and customer friendly. The response with bank-bazaar is really good with their customer support. Overall bank bazaar had done an excellent job.
      Was this review helpful? 0
      , noida
      Reviewed on May 19, 2017
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