Small business loans - Dmi personal loan

DMI Finance is a non-banking financial company (NBFC) in India that offers various loan products, with a strong focus on digital and paperless processes. They primarily provide Personal Loans and Business Loans.

Here is a summary of the key features and eligibility criteria for their most common loan products:

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DMI Finance Personal Loans

DMI Finance Personal Loans are generally unsecured, meaning you don't need to provide any collateral. They are designed for a variety of personal needs like weddings, medical emergencies, home renovation, or travel.

Feature	Details
Loan Amount	₹50,000 to ₹5,00,000 (up to ₹5 lakh)
Interest Rate	Starting from p.a. and going up to p.a.
Repayment Tenure	Flexible tenure from 12 to 48 months (1 to 4 years)
Process	digital, paperless application
Disbursal Time	Typically within 24–72 hours after approval

Eligibility Criteria

Criteria	Details
Age	23 to 52 years
Employment Type	Salaried employees and Self-employed individuals
Minimum Monthly Income	₹25,000 or more
Credit Score	Minimum 700+ is generally preferred
Work Experience	No specific minimum experience required for salaried, but self-employed may need 2 years of professional practice.

Required Documents (Commonly Needed)

• Identity Proof: PAN Card, Aadhaar Card, Passport, or Voter ID.

• Address Proof: Aadhaar Card, Utility Bill, or Rent Agreement.

• Income Proof: Salary Slips (for salaried) / Bank Statements, ITR, or GST documents (for self-employed).

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DMI Finance Business Loans

DMI Finance offers collateral-free business loans primarily aimed at MSMEs, small business owners, traders, and self-employed professionals to meet working capital needs, expansion, or equipment purchase.

Feature	Details
Loan Amount	₹1,00,000 to ₹25,00,000 (up to ₹25 lakh)
Interest Rate	p.a. to p.a.
Repayment Tenure	12 to 36 months (1 to 3 years)
Collateral	Unsecured (No collateral required)
Process	digital, paperless application

Eligibility Criteria

Criteria	Details
Minimum Age	23 years
Minimum Annual Income	₹3,00,000 or more
Credit Score	Minimum 700+ is generally preferred
Business Vintage	Business must be operational for at least 24 months (2 years)
Eligible Entities	Sole Proprietorships, Partnership Firms, Private Limited Companies, MSMEs, Traders, Retailers, and Self-Employed Professionals.

Required Documents (Commonly Needed)

• KYC: Aadhaar Card, PAN Card.

• Business Proof: GST Registration, Trade License, or Business Registration Certificate.

• Financial Documents: Last 6–12 months' Bank Statements, ITRs (1–2 years).

• Address Proof: Utility Bill or Rent Agreement.

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How to Apply

Both Personal and Business Loans can typically be applied for through a fully digital process via the DMI Finance App or their official website. The process generally involves:

1. Downloading the app or visiting the website.

2. Checking eligibility and entering personal/business details.

3. Uploading the required documents securely.

4. Completing e-KYC and setting up an e-Mandate for EMI payments.

5. Receiving the loan amount directly in the bank account upon approval.

Do you have a specific loan type in mind, or would you like to know more about a particular feature?