DMI Housing Finance

Home ownership is a significant financial goal which gives a sense of stability and social inclusion. DMI Housing Finance Limited has played an important role in helping thousands of people buy their dream homes through affordable home loans. DMI home loan starts at 11.00% per annum at a processing fee of 1.5% + GST. The emerging NBFC provides easy and convenient home loans for plot and home purchase, home renovation or extension, home construction, and loan against property. The maximum loan repayment tenure offered by DMI Housing Finance is up to 25 years, and the maximum loan amount is up to Rs. 30 lakhs.

DMI Home Loan EMI Calculator

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Total Amount Payable

  • Principal Amount

  • Total Interest

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DMI Housing Finance Highlights

Get the lowest interest rates with DMI Housing Finance

Loan Amount Up to Rs. 30 lakhs
Rate of Interest 9.50% per annum
RPLR
Processing Fee

1.50%

Maximum Tenure for Repayment 30 years
Penal Rate of Interest
Rate Packages Fixed/ Floater (Construction Loans)
Charges for Prepayment/Foreclosure Nil

DMI Housing Finance Interest Rates in 2024

The interest rate of DMI home loans depends on the person's CIBIL Score, repayment capacity, employment status, and various other factors. Applicants can choose a Fixed or Floater Range of interest rate when applying for a DMI home loan. The table below enlists the DMI Housing Finance rate of interest 2024:

Loan Slab Interest Rate for Home Loan
Home Loans 11.00% - 15.50% per annum 
Loan Against Property 15.00% - 18.00% per annum 

Interest rates were last updated on 6th April 2024

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DMI Home Loan Eligibility Criteria

DMI Housing Finance offers quick approvals on home loans, but only if the applicant meets certain eligibility criteria. These are usually based on the applicant's age, CIBIL score, nationality, and employment status. The table below enlists the DMI home loan eligibility criteria:

Eligibility Parameters For Salaried Individuals For Self-Employed Individuals
Age Range (in years) 18 - 70 Years 18 - 70 Years
Nationality Indian Residents/ NRIs/PIOs Indian Residents/ NRIs/PIOs
Minimum Income Earned Nothing Specific Nothing Specific

DMI Housing Loan Processing Fee and Charges

To process each home loan application, the NBFC charges a processing fee, which is a fixed percentage of the total loan amount. The DMI home loan processing fee and charges are listed below:

Processing Fees on Home Loans

1.5% + GST

Processing Fees on Loan Against Property

2% + GST

Legal Verification

Rs. 1500

Technical Verification

Rs. 1500

Cheque Bounce Charges

Rs. 590 per instance

Charges for Providing Document List Rs. 590 
Overdue Charges on Default Payment (EMI/ Pre-EMI)

2% per month on the outstanding dues

Duplicate Foreclosure Letter

Rs. 590

CERSAI
  • Rs. 59 for loans up to Rs. 5 lakhs
  • Rs. 118 for loans > Rs. 5 lakhs
Duplicate Interest Certificate

Rs. 236 per copy and one copy allowed per year

Custodian Fee

Rs. 590

Document Retrieval Charges

Rs. 590 

Cheque/ ACH Swapping Charges Rs. 590 
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DMI Home Finance Schemes and Top Plans

DMI Housing Finance Ltd. offers a plethora of home loan schemes because it understands the different needs of different borrowers. Have a look at the popular home loan plans offered by DMI Housing Finance:

1. House/ Flat Purchase Loan

  • Ideal for borrowers keen to buy under-construction or ready-to-move-in homes
  • Maximum loan repayment tenure of up to 25 years
  • Maximum loan amount of up to Rs. 30 lakhs
  • Maximum of 6 co-applicants permitted

2. Plot Purchase Loan

  • Best home loan for purchasing a plot
  • Either be applied on an individual or joint basis
  • Salaried and self-employed individuals can apply for a plot purchase loan from DMI
  • Maximum loan repayment tenure of up to 25 years
  • Maximum loan amount of up to Rs. 30 lakhs

3. Home Construction Loan

  • Ideal for borrowers keen to construct a home on a plot
  • Affordable interest rate with no hidden charges
  • Maximum LTV of property
  • Fast loan approvals

4. Home Extension Loan

  • Best home loans to extend an already existing home
  • Zero hidden charges and quick approvals
  • Easy eligibility criteria to get a home loan
  • 6 applicants allowed as co-applicants

5. Home Renovation Loan

  • Hassle-free loans with a low rate of interest
  • Ideal to meet expenses for renovating an existing home
  • Maximum LTV of property
  • Flexible loan repayment tenure

6. Home Loan- Balance Transfer

  • Available only on self-occupied residential properties which have been bought within 6 months of the loan application
  • Option to avail Top-Ups on board of 9 months
  • Maximum loan amount of up to Rs. 30 lakhs

7. Loan Against Property

  • Helps meet personal financial expenses with ease
  • Use the loan against property to build your own business
  • No hidden charges and easy approvals
  • Competitive rate of interestsa

Note: All of the above home loan plans are made available to applicants solely at the discretion of DMI housing finance, taking into consideration the earning and repayment capacity of the applicant.

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Documents Required For DMI Home Loan

The DMI housing loan documents required list is shared below for your reference so that you can arrange for the same before applying for a home loan:

Documents Required for Salaried Applicants

Proof of Income
  • Salary Slip for the last 3 months
  • Updated Bank Passbook or Statements for the last 6 months
  • Photocopies of Property Papers
  • Income Tax Returns for the last year
Other Required Documents
  • Duly filled application form
  • Passport-size photographs
  • Processing fee cheque in favour of DMI Housing Finance Ltd.

Documents Required for Self-Employed Applicants

Proof of Income
  • Business Continuity Proof for the last 3 years
  • Profit and Loss Account, Balance Sheet for last 3 years
  • Updated Bank Passbook or Statements for the last 12 months
  • Photocopies of Property Papers
  • Income Tax Returns for the last 3 years
  • Proof of operating address - Sales Tax Certificate, Shop and Establishment License, VAT Registration No., Latest Bank Statement in the name of the entity
Other Required Documents
  • Duly filled application form
  • Passport-size photographs
  • Processing fee cheque in favour of DMI Housing Finance Ltd.

Common Documents Required from Both Salaried and Self-Employed Applicants

Type of Document Documents Required
Identity & Address Proof

Voter ID, Driving License, Aadhaar Card, Copy of Passport, PAN Card

Documents Related to Property
  • Sale Deed, Allotment Letter
  • Certificate of Occupancy
  • Payment receipts for payments made to the builder
  • Permission to construct
  • Copy of approved plan
  • Registered Development Agreement of the builder
  • NOC (No Object Certificate from the builder or the housing society)
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How to Apply for DMI Finance Home Loan?

The DMI home loan apply procedure is quite simple and can be done online by following these easy steps:

  • Proceed to the APPLY NOW section on the website - BASIC Home Loan
  • Fill in the form by entering your Name, Contact Details and Submit the form
  • The team from BASIC Home Loan will reach out to you to initiate a hassle-free Home Loan application process

Find DMI Housing Finance Home Loan Offices Near You

If you are planning to visit one of the offices of DMI Housing Finance Home Loan near you to understand the DMI Housing Finance Home Loan Offer in details and apply for the Home Loan, you can simply fill in the Free Consultation form and the team of BASIC Home Loan will reach out to you for needful assistance in the process.

Disclaimer:

Interest rates and fees on home loans vary based on eligibility and lender criteria. All applicable fees and charges are subject to relevant taxes and can change at the lender’s discretion. For the most current information on home loan interest rates, processing fees, other applicable charges, and updates on eligibility criteria and loan offers, please visit the official website of the bank.

FAQs

The maximum loan amount a borrower can fetch from DMI is up to Rs. 30 lakhs after meeting specific pre-fixed eligibility criteria.

The current interest rate for a DMI home loan starts at 11.00% - 15.50% per annum. However, please refer to the official website of DMI Housing Finance because these rates are subject to change at the discretion of the NBFC. 

You can either visit the nearest branch of DMI Housing Finance to contact the customer care representative and check your DMI home loan status. Alternatively, you can check the loan status online by visiting the official website of DMI Housing Finance. 

A CIBIL score of 750 and above is considered suitable for getting a DMI home loan. However, applicants with a CIBIL score of 550-750 can also get home loans from this NBFC. 

Some key features of DMI Housing Finance are:

  • Home loans for salaried/ self-employed applicants
  • Home loans for the purchase, renovation, construction, and extension of a home and purchase of a plot
  • No hidden charges
  • Quick loan approvals
  • Easy Balance Transfer facility
  • Minimum paperwork
  • Affordable interest rates

The borrowers can get the disbursement amount for a DMI home loan within 5 to 6 days of submitting the complete set of documents and fulfilling all the eligibility criteria laid out by the NBFC.

An applicant must fulfil the following eligibility criteria to get a DMI home loan:

  • Age - 18 years - 70 years
  • Nationality - Indian Resident/ NRI. PIO
  • Employment Status - Salaried/ Self-Employed

DMI Housing Finance charges 1.5% + GST as a processing fee for home loan, which is non-refundable for each home loan application processing.