Wednesday, February 8, 2023

DMI Finance Personal Loan Apply Online 2023: Features & Benefits

DMI Finance Personal Loan offers a flexible tenure of up to 5 years at an interest rate starting from 12% per month. If you require Instant Personal Loan online, you can apply for Personal Loan that is entirely paperless and 100% digital.

Instant Digital Personal Loans are offered through channel partners such as MoneyView, CredRight, and StashFin, and sourcing channels i.e., Samsung Finance, Google Pay, and Airtel. DMI Finance offers a wide range of loans: such as marriage loans, vehicle loans, travel loans, etc.

DMI Finance Personal Loan Apply Online Details

DMI Finance Loan Interest RateCompetitive interest rates starting from 12% p.a.
Loan AmountRs 1000 to 25 Lakhs
Repayment Tenure2 months to 5 Years
Processing FeesUp to 4% of the loan amount
Employment TypeSalaried and Self-Employed
Required DocumentsPAN, Aadhar Card, Income Tax Return, Salary Slips, etc.
DMI Finance Personal Loan Customer Care+91 114120 4444
+91 114120 4400

DMI Finance Personal Loan Interest Rate

DMI Finance Personal Loan interest rate starts from 12% p.a. If you need a Personal loan from lenders (DMI Finance Channel Partners) here, you can get a loan of up to 25 lakhs. Lenders decide the interest rate based on repayment history, income structure, credit score, age, region, etc., which may differ from one customer to another.

DMI Finance Loan Interest Rate

Comparison of Personal Loan Interest Rates of Top Banks/NBFCs

Name of the LenderRate of Interest (p.a.)
IIFL Finance Personal Loan12.75% to 33.75%
Home Credit12% to 36%
Bajaj Finance13% to 26%
Axis Bank10.99% to 21%
Bank of Baroda10.70 to 14.20%
EarlySalary App12% to 30%
IDFC First Bank10.49% to 24%
IndusInd Bank10.49% to 26.50%
Kotak Mahindra Bank10.99% to 19.20%
IVL Finance Limited Personal Loan13.99% p.a. Onwards
Tata Capital10.99% to 21%
L&T Finance11% to 19%

Factor affecting DMI finance personal loan interest rates

Age of the applicant: The interest charged on the personal loan can be more or less according to the applicant’s Age. Younger applicants have to pay less interest as the risk involved is less, and older applicants may have to pay more interest as the risk involved is higher.

CIBIL Score: The CIBIL score of the applicants is checked by the lenders while calculating the interest rate. CIBIL keeps a record of the old loan and credit card bills taken by us. If the applicant fails to repay his previous loans or credit card bills on time, the interest will be determined higher.

Loan Tenure: In most cases, the loan repayment tenure is chosen by the applicant, which can be more or less. The longer the loan repayment period, the higher the interest.

Higher loan amount: The interest charged on the personal loan is decided according to the amount you get. You are charged a lower interest rate if you apply for a higher loan amount.

Example: “If you take a loan of Rs 20,000, you will get a higher interest rate, but on a loan of Rs 20 lakh, the interest rate can be reduced because the loan of Rs lakh is given to a trustworthy person.”

Residential Location: The interest rate decided by the lenders can also be based on whether the applicant lives in an urban or semi-urban area. People living in urban areas can avail of personal loans at low-interest rates.

Fees and Charges of DMI Finance Personal Loan

Type of ChargeAmount
Interest RateCompetitive interest rates starting from 12% p.a.
Processing FeesUp to 4% of the loan amount + GST
Foreclosure Charges/Prepayment Charges2% to 5% basis product proposition
Bounce ChargesRs 250 to Rs 450 on each instance
Stamp DutyAs per the applicable state laws
Duplicate repayment scheduleAs per the lenders (DMI Finance Channel Partner) who are offering you a personal loan

Features of DMI Finance Personal Loan

DMI Finance Personal loan is a registered NBFC (Non-banking Financial Institution). If you want to loan, you can check offers online. You can get a personal loan from DMI Finance with a few documents.

  • You can get an instant personal loan from ₹1000 to ₹1 Lakh at a reasonable interest rate with flexible tenure of up to 24 months.
  • You can use this amount for financial needs, like family marriage, vehicle purchase, home renovation, etc.
  • Here you get a personal loan of up to ₹25 Lakhs at an attractive interest rate starting from 12% p.a.
  • The processing fee is charged by the bank/NBFC availing the personal loan. The processing fee is between 0.25% to 4% of the loan amount.
  • The DMI Finance Personal Loan process of applying is fully digital. You don’t even have to submit any document to the manual.
  • Loan tenure starts from 2 months to 5 years based on your loan amount. The final tenure will be decided by the lender’s team as per your eligible loan amount, interest rate, and credit profile.

Eligibility Criteria for DMI Finance Personal Loan

DMI Finance personal loans are provided to both salaried and self-employed applicants. However, the NBFC has not disclosed the exact eligibility criteria like age, credit score, minimum income, employer/business profile, etc. However, most lenders consider these factors for evaluating the personal loan eligibility of their loan applicants.

  • The applicants must have a monthly income source.
  • Applicant must have citizenship of India.
  • Selfie

Documents Required for DMI Finance Personal Loan

DMI Finance has not mentioned the documents required for availing the personal loan digitally. However, most banks and NBFCs require the following documents from their loan applicants.

  • Identity Proof: PAN (Permanent Account Number) Card, Passport, Voter’s ID, Driving license
  • Address Proof: Aadhar Card, Driving License, Ration card, Passport, Electricity bill, Maintenance bill
  • The mobile number must be linked with an Aadhaar card.
  • Last 3 months’ salary slips
  • Statement of account for last 6-12 months of Bank.
  • For income proof: Salary slips (Last 3 months) for salaried personal loan applicants, Audited balance sheet, and Profit & Loss account for self-employed loan applicants.

DMI Finance Loan Payment Online

Auto-debit: Enjoy the convenience of paying directly from your bank account with auto-debit facilities. If you have registered Auto-Debit (NACH), the EMI payment will be automatically debited from your account on the EMI due date

Online: You can pay your loan EMIs online quickly. You can use NEFT, UPI, etc., and pay your EMIs online.

DMI Finance Loan Customer Care

DMI Finance Loan Customer Care

If you have any query related to loans, you can call DMI Finance Loan Customer Care Number: +91 114120 4444, +91 114120 4400.

WhatsApp Number: +91 93506-57100

You can also mail your query to: [email protected]

Registered Office Address

DMI Finance Pvt. Ltd.

Express Building, Third Floor, 9-10.

Bahadur Shah Zafar Marg,

New Delhi – 110002, India.

DMI Finance Personal Loan Related FAQ:

What is a Personal Loan?

Personal loans help you to borrow money for a price of a personal nature – be it for some other requirement such as an emergency, education, family marriage, or home renovation. With the DMI Finance Personal Loan, with various loans ranging from Rs 1000 to 25 Lakh, you can enjoy a minimum interest rate starting from 12% per annum with flexible functions ranging from 2 months to 5 years.

What is an EMI?

EMI Stands for Equated Monthly Instalment. Which is the fixed amount paid for the repayment of your loan. It includes both the principal component and the interest amount. It gives you the convenience and benefit of repaying the loan amount in small and easy installments.

What is the loan tenure?

The time fixed for returning the loan taken by us is called loan tenure. The Personal Loan repayment tenure will be decided by the lenders as per your eligible loan amount, interest rate, and credit profile.

What is the interest rate?

To meet our financial needs, we take loans that are given to you by lenders. In return for the loan, you have to pay some extra amount on top of the loan, which is called interest. The interest rate is used to decide, how much interest to pay on the loan.

Why is there a bounce charge when I have paid my EMI?

DMI may collect a bounce charge in case the EMI presented bounces. There may be separate bounce charges levied by your bank basis your account category. While it may reflect that these charges are debited towards DMI Finance, it is a fee collected by the bank as a penalty.

How can I pay my EMI?

If you have registered Auto-Debit (NACH), the EMI payment will be automatically debited from your account on the EMI due date. You can make your EMI payment through online banking.

Can I get a loan from DMI Finance Pvt Ltd?

DMI currently does not provide loans directly to customers. But, DMI currently offers loans to some selected Customers only, if the loan offer is available on your profile, it will reflect on the portal under the “Offers” section.

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