Dot Dot Loans is a UK-based lender that offers instant short-term loans to UK residents with non-perfect credit scores.

They claim to offer secure and collateral-free loans to individuals who need instant cash to meet their urgent financial needs.

Just like other lending platforms, Dot Dot has their own terms and conditions that regulate their lending services; hence, before you opt for their loaning services, it is best to understand their terms like loanable amount, interest rate eligibility criteria, etc. In this post, we shall be exploring their mode of operation.

Let’s dive in.

1. Dot Dot Loan Requirements

Dot Dot Loan

To qualify for a loan at Dot Dot, you’re expected to meet certain eligibility criteria. The requirements are outlined below:

1. Age: The applicant must be at least 18 years old.

2. Resident: Must reside in the United Kingdom.

3. Income: You must have a steady and stable income source.

4. Contact: The applicant must have an active email address and phone number.

5. Bank Account: Must have an active bank account for loan disbursement.

2. Dot Dot Loanable Amount

The borrower’s creditworthiness and reputation, which they built with the Dot Dot platform over time, determine the loanable amount that they can take since it is not fixed.

Nevertheless, the loan amount that an applicant can take from Dot Dot ranges from  £100-£1000.

3. Dot Dot Loan Term

The repayment plan of the Dot Dot loan is relatively flexible; it is designed such that borrowers can pay off their loans without breaking the bank.

The loan term of the Dot Dot loan ranges from  3 to 9 months.

4. Dot Dot Loan Interest Rate

The representative annual percentage rate (APR) of the Dot Dot loan is 1228.67%.

It is pertinent to note that the longer the loan term chosen, the higher the loan amount. Hence, it is best to pay off your loan on time to avoid accruing unnecessary interest.

5. Dot Dot Loan Application Process

Applying for the Dot Dot loan is quite simple since the whole application process is done electronically. To apply, follow the steps below:

  • Visit the Dot Dot official website.
  • Sign up to get started.
  • Complete the online loan application process by entering the required details.
  • Tap on the ‘’Apply Now’’ tab.
  • If you meet the requirements, you’ll get initial approval in a matter of minutes.
  • Wait and confirm your details if contacted but if not, just review and accept the loan terms if it is okay with you.
  • If approved, the loan will be disbursed to your nominated account in a matter of hours and that’s all.

N/B:

You’ll need to repay your loan on a monthly basis, depending on the agreed-upon dates. Ensure that you pay off your loan on time to boost your credit score.

6. Dot Dot Customer Care

For questions or assistance, you can reach out to the Dot Dot customer care unit via the following handle:

Call:  0333 240 6215

Post Office Address: Dot Dot Loans Building 1, The Phoenix Centre, 1 Colliers Way, Nottingham, NG8 6AT.

7. Dot Dot Loans UK Reviews

As with other lending platforms, users of the Dot Dot lending platform have diverse views about their lending services.

Some users eulogized their lending services, while others frowned at their outright rejection of the loan application without tangible reasons. Regardless, users must have their stories to tell but the fact is that individual experiences shouldn’t be generalized to make logical conclusions.

Our check on Trustpilot revealed that Dot Dot Loans has 4.2 out of 5 stars out of over 2,000 reviews. This rating is good for a platform of its nature.

Some of the reviews from Trustpilot are:

From Alex Bloor: “I have used this company on a few occasions to make ends meet when I’ve had hours cut at work and they are a legit company.

My credit score is not the best at the moment due to having taken out other payday-style loans so I can’t get one accepted with them at the moment.
You need, as I’ve found a minimum score of 500 to be accepted by Dot Dot at least for, like, £100=£400 as long as they think you can afford the repayments.

Just be warned, it does hurt your credit score as it adds on to it but once you pay it off, it will obviously jump straight back up from what I’ve noticed’’.

Another user, Nancyblu Newlands, has this to say: ‘’Load of rubbish not even worth wasting your time reading about the company. I had more than enough money at the end of every month for repayments and only asked for 400 must be a millionaire to get a short-term loan’’.

Is Dot Dot Loans Legit?

Dot-Dot Loans appears to be a legitimate lending platform because their lending service is authorized and regulated by the Financial Conduct Authority (FCA).

Dot Dot Loans is a trading name of Shelby Finance LTD. They protect their applicants’s data by  industry-standard encryption to ensure that their personal information is protected.

However, before you take a loan from the Dot Dot platform, it is best to conduct due diligence about the lending services of the platform before opting for their services.

Don’t forget to borrow responsibly and spend wisely.