DMI Housing Finance

Disclaimer: DMI Housing Finance is not a Paisabazaar partner and all content herein is strictly informative in nature. Paisabazaar is not affiliated with, sponsored by or in any way connected to DMI Housing Finance for home loans. No offers/services from DMI Housing Finance are being provided by Paisabazaar for home loans. For further information about DMI Housing Finance for home loans, users are required to reach out directly to DMI Housing Finance.

DMI Housing Finance Home Loan Highlights
Interest Rate	11.00%-15.50% p.a.
Loan Amount	Up to Rs 30 lakhs
Loan Tenure	Up to 25 years
Operational & Administrative Cost (Processing Fees)	Rs 3,000 + 1.5% of the loan amount

DMI Housing Finance – Home Loan Interest Rates

DMI Housing Finance home loan interest rates start from 11.00% p.a. onwards. The home loan interest rates offered by HFC are floating in nature.

Particulars	Interest Rates (p.a.)
Home Loan	11.00%-15.50%

Compare Interest Rates on Home Loans for Top Banks & HFCs

Name of Lender	Up to Rs. 30 Lakh	Above Rs. 30 Lakh to Rs. 75 Lakh	Above Rs. 75 Lakh
SBI	8.50%-9.85% p.a.	8.50%-9.85% p.a.	8.50%-9.85% p.a.	Check Eligibility
HDFC Bank Limited	8.75% p.a. onwards	8.75% p.a. onwards	8.75% p.a. onwards	Check Eligibility
LIC Housing Finance	8.50% - 11.25% p.a.	8.50% - 10.55% p.a.	8.50% - 10.75% p.a.	Check Eligibility
ICICI Bank	8.75% p.a. onwards	8.75% p.a. onwards	8.75% p.a. onwards	Check Eligibility
Kotak Mahindra Bank	8.75% p.a. onwards	8.75% p.a. onwards	8.75% p.a. onwards	Check Eligibility
PNB Housing Finance	8.50% - 14.50% p.a.	8.50% - 14.50% p.a.	8.50%-11.45% p.a.	Check Eligibility
Punjab National Bank	8.45% - 10.25% p.a.	8.40% - 10.15% p.a.	8.40% - 10.15% p.a.	Check Eligibility
Bank of Baroda	8.40% - 10.65% p.a.	8.40% - 10.65% p.a.	8.40% - 10.90% p.a.	Check Eligibility
IDFC First Bank	8.85% p.a. onwards	8.85% p.a. onwards	8.85% p.a. onwards	Check Eligibility
L&T Finance Limited	8.65% p.a. onwards	8.65% p.a. onwards	8.65% p.a. onwards	Check Eligibility
Tata Capital Housing Finance	8.75% p.a. onwards	8.75% p.a. onwards	8.75% p.a. onwards	Check Eligibility
Federal Bank	8.80% p.a. onwards	8.80% p.a. onwards	8.80% p.a. onwards	Check Eligibility
Axis Bank	8.75%-13.30% p.a.	8.75%-13.30% p.a.	8.75%-9.65% p.a.	Check Eligibility
Godrej Housing Finance	8.55% p.a. onwards	8.55% p.a. onwards	8.55% p.a. onwards	Check Eligibility

DMI Housing Finance Fees and Charges

Prepayment/Part Prepayment Charges

Particulars	Charges
In case the property is in the name of individual and purpose is housing	NIL
In case the property is in the name of non-individual entity, it will be considered as business purpose loan	5% of outstanding principal/prepaid
In case the property is in the name of individual and purpose is the non-housing or business	5% of outstanding principal/prepaid

Processing Fees & Other Charges

Particulars	Charges
Operational & Administrative Cost	Rs 3,000 + 1.5% of the loan amount
Legal Verification	Rs 1,500 (non-refundable)
CERSAI Fees	Rs 118
Technical Verification	Rs 1,500 (non-refundable)
Subsequent Technical Verification	Rs 500 (non-refundable)
Cheque/ECS/ACH bounce per transaction	Rs 590
EMI Overdue charges	24% p.a.
Document Retrieval Charges	Rs 590
Cheques/ACH swapping (per set)	Rs. 590
Duplicate no dues certificate	Rs 236
Photocopy of Property Papers	Rs. 1,770
Duplicate no dues certificate	Rs 236
Document Retrieval Charges	Rs 590
Recovery Charges (Legal/Repossession Charges & Incidental)	As per actuals
Prepayment Letter	Rs 1,770
Statement of Account	Rs 885
Custodian Fee	Rs 590/month
ROI conversion fee	1% on principal outstanding for conversion of loan from floating to a fixed interest rate NIL for fixed rate to floating rate

Types of DMI Housing Finance

DMI House/Flat Purchase Loans

Purpose: Prospective borrowers can avail House or Flat Purchase Loans for under-construction homes or for ready-to-move-in properties.

Tenure: Up to 25 years

Loan Amount: Up to Rs 30 lakhs

DMI Plot Purchase Loans

Purpose: DMI Housing Finance offers Plot Purchase Loans for the purchase of land for house construction.

Tenure: Up to 25 years

Loan Amount: Up to Rs 30 lakhs

DMI Home Construction Loans

Purpose: The HFC offers Home Construction Loan facility for the construction of a house on an existing house.

Tenure: Up to 25 years

Loan Amount: Up to Rs 30 lakhs

DMI Home Extension Loans

Purpose: Home loan applicants planning to extend existing residential property or build a space can avail Home Extension Loans.

Tenure: Up to 25 years

Loan Amount: Up to Rs 30 lakhs

DMI Home Renovation Loans

Purpose: Home Renovation Loans are offered to applicants planning to renovate their existing home to get it a suitable makeover.

Tenure: Up to 25 years

Loan Amount: Up to Rs 30 lakhs

DMI Balance Transfer with Top-Up Loan Facility

Purpose: Existing home loan borrowers planning to transfer their existing home loans to DMI Housing Finance can avail Balance Transfer facility. This facility is only available on self-occupied residential properties purchased within 6 months of the loan application. Borrowers can avail Top-up loan facility only after completing 9 months of their existing loan.

Tenure: Up to 25 years

Loan Amount: Up to Rs 30 lakhs

DMI Housing Finance Eligibility Criteria

DMI Housing Finance offers home loans to both salaried and self-employed individuals. Stated below are the eligibility criteria for availing home loan:

• Age Requirement:
  • Minimum – 18 years
  • Maximum – 70 years (with Income Documents) and 90 years (without income documents)

• Applicant & Co-applicant: Maximum of 6 applicants in total co-applicants

Also Check: Home Loan Eligibility Calculator

DMI Housing Finance Documents Requirements

Stated below are the documents required for availing home loan from DMI Housing Finance:

Identity Proof (Any One)

• Valid Driving Licence
• PAN Card
• Valid Passport
• Voter ID Card
• Aadhaar Card

Age Proof (Any One)

• Aadhaar Card
• Valid Passport
• Voter ID Card
• PAN Card
• Valid Driving Licence

Address Proof (Any One)

• Aadhaar Card
• Valid Passport
• Voter ID Card
• Valid Driving Licence
• PAN Card
• Latest Utility Bill (Water Bill, Telephone (BSNL/MTNL/Non Private Service Provider), Property Tax Receipt)
• Latest Electricity Bill

Income Proof

For Salaried individuals

• Salary Slips or bank statement of last 6 month or Form-16
• Salary Certificate (Cash Salaried Cases)

For Self-Employed individuals

• IT Returns and/or last 3 year’s Financial Statements or 1 year Bank statement
• Informal Income Documents (if any)

Property-related documents           

• Title Deeds of the Plot
• Proof of no encumbrances on the property

Other Documents     

• Application form with photograph duly signed
• Business existence proof
• Processing fee cheque
• Bank statements of last 1 year

DMI Housing Finance Customer Care

Get in touch with the customer support team of DMI Housing Finance through the below-mentioned details:
Toll-free number: 18001214214
Customers can also contact 011 – 66107107 or give a missed call to 9772027704.
Email:  Write to us at customercare@dmihousingfinance.in

FAQs on DMI Housing Finance

1. For which purpose can I avail a home loan from DMI Housing Finance?
You can avail of DMI Home Loans for house/flat purchase, plot purchase, house construction, house extension, house renovation, and home loan balance transfer.

2. What is the loan amount I can get from DMI Housing Finance?
DMI offers loan amounts ranging from 2 lakh to 30 lakh for a housing loan. The final loan amount, however, will depend on the applicant’s monthly income, current age, income stability, current obligations (EMI’s), current market value of proposed property/collateral.

3. When can I avail the disbursement of the loan amount?
Usually, the disbursement process takes 30 days but in cases where the documents are completed and already verified, the disbursement process takes only 5 to 6 days.

4. Who can avail of a home loan from DMI housing Finance?
Both salaried and self-employed individuals can avail of a home loan from DMI Housing Finance. The minimum age of the applicant should be 18 years. The applicant should preferably have a good credit score and loan repayment capacity.