How to Get Doorstep Loans in Dublin?
A doorstep loan is a financial service for people who don’t want to go through lengthy and complex traditional methods. Unlike personal loans, the amount is delivered to your doorstep by the lender. There is no pile of paperwork and document submission, as the process is completed online.
In Ireland, more and more people are availing the service for small financial problems. It is ideal for senior citizens and differently-abled people to get financial support at the comfort of home. However, there are some doubts among the borrowers regarding the application process and repayment of the doorstep loan in Ireland.
Here, we have explained the process to get a doorstep loan in Dublin with its stages that include application, verification, fund disbursement, and repayment.
As mentioned above, there are no visits to the lender’s office and lengthy documentation in the application process. You need to fill the online form to apply for a doorstep loan. The form will ask you to fill in personal details and loan amount to avail.
You can get a loan amount from 100 to 1000 based on your profile and requirement. The borrowers should go through the eligibility criteria and loan terms before filling the application form. Also, apply for the loan amount closest to the requirement to avoid unnecessary stress on the finances during repayment.
The documentation involves age proof, address proof, and bank account details to get the loan. You can upload a scanned copy or photograph of these documents for verification. There are no upfront fees or processing charges until the loan is approved.
The verification and approval process takes a few hours for the lender. Once the application is submitted, they will assess your profile based on the details provided. A representative from the lender will get in touch with you once the documents are verified.
They will conduct a financial assessment to check the repayment ability. This process will not take much time to complete based on the income and repayment ability of the lender. The borrower can explain the repayment plan to the representative if the profile seems ineligible to them.
Lenders will conduct a credit check during the financial assessment to check the current list of debts and repayment history. You can ask them to conduct a soft enquiry instead of hard to avoid trails on credit history. However, only a few lenders will provide the soft enquiry option to the borrower.
- Fund Disbursement
After the verification and assessment, the lender will initiate the fund disbursement process. It will take only a few hours to complete the fund disbursement in doorstep loans. As the name suggests, the amount will be delivered to your doorstep.
You don’t have to visit the ATMs to get the loan amount in cash. Again, the elderly people and physically abled are benefitted the most from this feature. Moreover, you should select a doorstep loan over other small loans if the emergency requires payment through cash.
Nevertheless, you can ask the lender to transfer the amount to your account. The flexibility is provided to the borrower to select the method of fund disbursement and repayment.
The repayment process of the doorstep loan is quite different from traditional loans. The lenders will collect the amount from your doorstep on the repayment date. You can pay them through cash or select automate payment from the account. There is no need to visit the office or bank to deposit the instalments.
You can select the repayment duration from a month to a year. The cycle is also flexible. Borrowers can repay the lender weekly, bi-weekly, or monthly. This reduces the stress of repayment for different salary schedules.
Moreover, there is some flexibility provided to the borrowers for repayment. You can miss a payment and pay double on the next cycle at minimal or no fees. In some cases, the lenders extend the loan terms at no extra cost if the reasons are genuine.
To sum up, a doorstep loan is a simple and convenient alternative if you want the loan amount in cash. There is no physical paperwork involved, and the loan amount is delivered to your doorstep. Moreover, you get the flexibility that is hardly offered by financial institutions like banks and credit unions.