DMI Finance Personal Loan

DMI Finance is a leading financial institution that provides personal loan at an attractive interest rate of 12% per annum. These loans come with flexible repayment tenures that extend up to 5 years. What sets DMI Finance apart is its seamless and entirely paperless loan processing system, making it a hassle-free experience for borrowers. These digital personal loans are offered through various channel partners, including MoneyView, CredRight, StashFin, and renowned sourcing channels like Samsung Finance, Google Pay, and Airtel.

DMI Finance Personal Loan

• Interest Rates: DMI Finance offers personal loan with interest rates ranging from 12% to 40% per annum. The specific rate you receive may depend on factors such as your credit score, employment profile, and the loan amount you require.
• Loan Amount: You can borrow any amount between Rs 1,000 to Rs 25 lakhs through DMI Finance Personal Loans, ensuring that your financial needs are adequately met.
• Repayment Tenure: Flexibility is the name of the game with DMI Finance. You can choose a repayment tenure that suits your financial situation, ranging from 2 months to 5 years.
• Processing Fee: The processing fee for DMI Finance Personal Loans can go up to 4% of the loan amount, so it’s essential to factor this into your borrowing decision.

Interest Rates Compared

Banks/NBFCs	Interest Rates (P.A.)
IndusInd Bank	10.49% onwards
Axis Bank	10.49% onwards
IDFC First Bank	10.49% onwards
HDFC Bank	10.50% onwards
Kotak Mahindra Bank	10.99% onwards
ICICI Bank	10.50% onwards
Bajaj Finserv	11.00% onwards
Tata Capital	10.99% onwards
Federal Bank	11.49% onwards
L&T Finance	12.00% onwards
Kreditbee	12.25% – 30.00%
MoneyTap	12.96% onwards
Aditya Birla	13.00% onwards
MoneyView	15.96% onwards
Cashe	27.00% onwards

DMI Finance Personal Loan Fees and Charges

Understanding the fees and charges associated with DMI Finance Personal Loans is crucial for transparency:

• Penal Interest: This can range from 1% to 7% per month on overdue amounts.
• Prepayment/Foreclosure Charges: These can vary from 2% to 5% based on the product proposition.
• Other Fees: Additional charges can be between 0.25% to 4% of the loan amount.
• Bounce Charges (NACH/e-Mandate/DD Registered) or Delayed Payment Charges (Alternate Mode): Typically, these charges range from Rs. 250 to Rs. 450 on each instance.

DMI Finance Personal Loan Features

DMI Finance primarily operates in the B2B sector, collaborating with original equipment manufacturers (OEMs), leading fintech companies, and technology-driven aggregators. Besides catering to businesses, DMI Finance Personal Loans also serve various personal financial needs, including medical expenses, higher education, travel, lifestyle financing, and consumer durables.

Eligibility Criteria for DMI Finance Personal Loans

DMI Finance extends its personal loan offerings to both salaried and self-employed individuals. Although the NBFC hasn’t explicitly detailed the eligibility criteria, factors such as age, credit score, minimum income, and employer/occupation profile are generally considered when evaluating loan applications. You can reach out to DMI Finance for precise eligibility requirements.

DMI Finance Personal Loan Documents Required

While DMI Finance hasn’t explicitly listed the documents needed for digital personal loans, here are some commonly requested documents by most banks and NBFCs:

• Identity Proof: Passport, PAN Card, Voter’s ID, Aadhaar card, Driving license.
• Address Proof: Aadhaar Card, Driving license, Ration card, Passport.
• Residence Proof: Property documents, Electricity bill, Maintenance bill.
• Bank Statements: Last 3 years.

Income Proof

• For salaried individuals: Salary slips (Last 3 months).
• For self-employed individuals: Audited balance sheet and Profit & Loss accounts.

FAQ

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