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DMI Finance Personal Loan Highlights 2024 |
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| Interest rates | Up to 30% p.a. |
| Loan amount | Rs 10,000 to Rs 10 lakhs |
| Repayment tenure | 3 months to 5 years |
| Processing fee | Up to 5% of the loan amount |
Note: Rates as of 21 November 2024
Table of Contents
DMI Finance Personal Loan Interest Rate
DMI Finance provides personal loan with interest rates of up to 30% p.a. The personal loan interest rate is based on the income profile of the applicant and past credit history.
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DMI Finance
Up to ₹25L
12% - 40%
Upto 4 Years
Upto 4%
*Applicable for selected customers
Fees and Charges of DMI Finance Personal Loan
| Particulars | Charges |
| Processing Fees | Up to 5% of the loan amount |
| Overdue Charges | 1% to 4% p.m. on overdue amount |
| Prepayment/Foreclosure Charges | 2% to 5% on outstanding principal amount |
| Late Payment Fees | Rs 550+GST for loan amount up to Rs 75,000; Rs 650 + GST for loan amount above Rs 75,000 to Rs 1 lakh; Rs 750 +GST for loan amount above Rs 1 lakh |
DMI Finance Personal Loan Features
DMI Finance are predominantly B2B and work through front-end partnerships with OEMs, leading fintech companies, as well as leading technology-driven aggregators. The personal loan can also meet personal financial needs, such as medical expenses, higher education, travel, lifestyle financing, and consumer durables.
Loan Amount
DMI Finance offers personal loans with amounts ranging from Rs 10,000 to Rs 10 lakhs.
Tenure
The repayment tenure for DMI Finance personal loans ranges from 3 months to 5 years.
DMI Finance Personal Loan Eligibility Criteria
DMI Finance personal loans are offered to both salaried and self-employed applicants. However, the NBFC has not disclosed the exact eligibility criteria like age, credit score, minimum income, employer/occupation profile, etc for availing personal loan. However, most lenders consider these factors for evaluating the personal loan eligibility of their personal loan applicants.
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Documents Required for DMI Finance Personal Loan
DMI Finance has not explicitly mentioned the documents required for availing personal loan digitally. However, most banks and NBFCs require the following personal loan documents from their loan applicants.
- For identity proof: Passport, PAN Card, Voter’s ID, Aadhaar card, Driving license
- For address proof: Aadhaar Card, Driving license, Ration card, Passport
- For residence proof: Property document, Electricity bill, Maintenance bill
- Bank Statements of the last 3 years
- For income proof:
- Salary slips (Last 3 months) for salaried personal loan applicants
- Audited balance sheet and Profit & Loss accounts, for self-employed personal loan applicants
DMI Finance EMI Calculator
Monthly EMI ₹ 15,622
Total Amount Payble ₹ 5,62,395(Principal + interest)
Principal Amount ₹ 5,00,000
Total Interest Payble ₹ 62,395
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FAQs on DMI Finance Personal Loan
Does DMI Finance provide personal loan?
DMI Finance offers personal loans at an interest rate of up to 30% p.a. with repayment tenure extends up to 5 years. Both salaried and self-employed individuals are eligible to apply for a personal loan from DMI Finance.
How can I apply for a personal loan with DMI Finance?
DMI Finance offers personal loan digitally. Applicants can download the DMI Finance app from the Google Play Store and fill out their loan application directly within the app to avail a personal loan. Alternatively, prospective borrowers can apply for a DMI Finance personal loan through Paisabazaar.
What is the interest rate on DMI Finance personal loans?
The interest rate of DMI Finance personal loan is up to 30% p.a.
What is the minimum CIBIL score for availing personal loan from DMI Finance?
DMI Finance has not specified an applicant minimum CIBIL score criteria. However, individuals with credit scores of 700 and above are usually preferred by lenders as such credit scores indicate responsible credit behaviour, which reduces the credit risk for the lenders.
What are the eligibility criteria for a DMI Finance personal loan?
DMI Finance offers personal loans to both salaried and self-employed individuals. However, the NBFC has not specified eligibility criteria for personal loan, such as age, credit score, minimum income, and employment profile. Personal loan lenders usually evaluate these factors when assessing the eligibility of its loan applicants.
Can I check my DMI Finance personal loan status online?
Borrowers can check DMI Finance personal loan status by logging into the DMI Finance Customer Portal (https://portal.dmifinance.in/) through their registered mobile numbers and OTP.
How to pay DMI Finance loan EMI online?
Borrowers can repay EMIs by either registering for the auto-debit NACH facility through the DMI Customer Portal or making a manual payment by logging into the DMI Customer Portal or using the chatbot HelloDMI on the DMI Finance website. If you miss your DMI EMI payment by their due date, you can make an online payment by logging into the DMI Customer Portal or the DMI Finance App.
How long does it take to get loan approval from DMI Finance?
DMI Finance claims to disburse loan within a couple of hours of applying loan.
How do I contact DMI Finance for a personal loan?
Customers can reach out to DMI Finance for personal loan queries at +91 11 4120 4444 between 9:00 am to 8:00 pm any day of the week or can send an email to customer care@dmifinance.in. Alternatively, customers can also visit Paisabazaar to compare and apply for personal loans from various lenders, including DMI Finance.