DMI Finance Personal Loan

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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.

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DMI Finance

Max. Loan Amt.

Up to ₹2L

Rate of Interest

12% - 40%

Tenure up to

Upto 5 Years

Processing Fee

Up to 4%

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Quick Disbursal 100% Digital Process*

Note: Rates as of 15 December 2024

*Applicable for selected customers

DMI Finance Personal Loan Interest Rate

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.

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

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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

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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

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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

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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:

1. Identity Proof:
  • Passport
  • PAN Card
  • Voter’s ID
  • Aadhaar card
  • Driving license
2. Address Proof:
  • Aadhaar Card
  • Driving license
  • Ration card
  • Passport
3. Residence Proof:
  • Property document
  • Electricity bill
  • Maintenance bill
4. Bank Statements: Statements from the last 3 years.
5. Income Proof:
  • For Salaried Applicants: Salary slips from the last 3 months.
  • For Self-employed Applicants: Audited balance sheet and Profit & Loss accounts.

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 ReadBest Personal Loan Documents Required

EMI Calculator

Also read: Best Personal Loan EMI Calculator

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