DMI Finance provides personal loans at an annual interest rate of 12%, and you can repay them over a period of up to 5 years. The process of getting a personal loan from DMI Finance is completely paperless and digital. You can apply for digital personal loans through their partners like MoneyView, CredRight, and StashFin, as well as through channels like Samsung Finance, Google Pay, and Airtel.
Up to ₹2L
12% - 40%
Upto 5 Years
Up to 4%
Note: Rates as of 20 December 2024
*Applicable for selected customers
DMI Finance offers personal loan interest rates starting from 12% per annum. While they haven't revealed specific details about how they determine interest rates based on factors like credit score, employment, and loan amount, it's common for other lenders to consider these factors when deciding on the interest rates for personal loans.
| Table of Contents | ||
|---|---|---|
| Comparison of DMI Finance Personal Loan vs. Other Lenders | ||
| Fees and Other Charges | ||
| DMI Finance Personal Loan Features | ||
| Eligibility Criteria | ||
| Documents required | ||
| EMI Calculator | ||
| Banks/NBFCs | Interest Rates(p.a.) | |
|---|---|---|
| Axis Bank | 10.49% onwards | Apply Now |
| IndusInd Bank | 10.49% onwards | Apply Now |
| IDFC First Bank | 10.49% onwards | Apply Now |
| HDFC Bank | 10.50% onwards | Apply Now |
| ICICI Bank | 10.50% onwards | Apply Now |
| Kotak Mahindra Bank | 10.99% onwards | Apply Now |
| Tata Capital | 10.99% onwards | Apply Now |
| Bajaj Finserv | 11.00% onwards | Apply Now |
| Federal Bank | 11.49% onwards | Apply Now |
| DMI Finance | 12.00% - 40.00% | Apply Now |
| L&T Finance | 12.00% onwards | Apply Now |
| Kreditbee | 12.25% - 30.00% | Apply Now |
| MoneyTap | 12.96% onwards | Apply Now |
| Piramal Finance | 12.99% onwards | Apply Now |
| Aditya Birla | 13.00% onwards | Apply Now |
| MoneyView | 15.96% onwards | Apply Now |
| Cashe | 27.00% onwards | Apply Now |
Also read: Best Personal Loan Interest Rate
| Particulars | Rates | |
|---|---|---|
| Penal Interest | 1% to 7% p.m. on overdue amount | |
| Prepayment/Foreclosure Charges | 2% to 5% basis product proposition | |
| Other Fees | 0.25% to 4% on the loan amount | |
| Bounce Charges (NACH/e-Mandate/DD Registered) or Delayed Payment Charges (Alternate Mode) | Rs. 250 to Rs. 450 on each instance | |
Also read: Best Personal Loan in India
DMI Finance primarily operates in the B2B (business-to-business) sector, collaborating with original equipment manufacturers (OEMs), major fintech companies, and technology-driven aggregators. Through these partnerships, they extend personal loans that cater to various personal financial requirements, including medical expenses, higher education, travel, lifestyle financing, and purchasing consumer durables.
Also read: Best Personal Loan Status
DMI Finance provides personal loans to individuals, whether they are salaried or self-employed. However, specific details regarding eligibility criteria, such as age requirements, credit score benchmarks, minimum income levels, and considerations related to employer/occupation profiles, have not been disclosed by the NBFC. It's worth noting that many lenders typically assess these factors when determining the eligibility of applicants for personal loans.
Also read: Best Personal Loan Eligibility
While DMI Finance hasn't explicitly stated the required documents for obtaining a personal loan digitally, many banks and NBFCs typically ask for the following documents from loan applicants:
It's important to note that these are general requirements and may vary based on the specific policies and processes of DMI Finance. Applicants are advised to check with DMI Finance or their digital platform partners for the exact documentation needed for availing a personal loan.
Also Read: Best Personal Loan Documents Required
Also read: Best Personal Loan EMI Calculator
