Can you imagine how it feels when someone comes to your doorway and offer you money that you are desperately looking for? You might be wondering where it happens in the reality or not. With the emergence of technology, nothing is impossible nowadays.
In fact, you can explore the world while sitting at home. Then, why don’t you apply for a loan if you need cash at your doorstep? You may want comfort or you are just unable to go through the bank formalities. To address your concerns, doorstep loans appears to be the right option.
What the Loans Bring to You?
At times, when you are living on benefits due to the health issues, going to the bank and standing in a queue can be complicated. This is exactly where doorstep service comes to dominate the old-fashioned way of lending.
The loans are unsecured by nature and can be taken when you need a small amount. You will get the funds delivered at your doorstep. Plus, the repayment schedule is also flexible and never puts a burden on your pocket.
Below are the main features that differentiate doorstep lending from any other loan:
-
Disbursement of Cash at Your Home
You can enjoy the convenience of quick access to the funds at your own doorstep. There is no need to leave your house and waste a couple of hours in queue to get your hands on funds. The representative of the lender comes to your place and offer cash in your hands once you are accepted for the loans.
-
Collection of Repayments at Your Doorstep
The lender’s representative visits your place on weekly basis to collect the repayments. Now, you need not worry about making online transactions at all. In fact, there is no chance to make default on the repayments.
-
No Hard Credit Check
Doorstep loans with no credit checks can be a ray of hope in the dark for those, who are reeling on bad credit history. With the loans, every customer, having a poor credit status, will receive a chance to improve borrowing performance.
-
Face-To-Face Interaction with Your Lender
On availing these loans, you will be able to talk to your lender face-to-face about the loan deals. In fact, you can get in touch with the lender easily and ask the question about the loan terms.
The Drawbacks
The loan is like a coin which has two sides. These loans also come with drawbacks as follow:
-
Ideal for Short Term Purposes Only
There is no scope to utilise the doorstep service for accomplishing your long term desires. You can avail the cash for only a short span of time.
-
High in Interest Rates
Interest rates on these types of lending are often higher than other loan products. This is because of the convenience and promptness of the loans.
If you are interested in doorstep lending and looking for the affordable installment loans, why not apply online. Nowadays, scores of lenders are offering these loans and allowing the customers to apply online. Once you make the application online, the agent of the lender will visit you and the rest of the procedure will be done at your home.