The paper proposes a non-destructive method for simultaneous measurement of in-plane and out-of-plane displacements and strains undergone by a deformed specimen from a single moire fringe pattern obtained on the specimen in a dual beam digital holographic interferometry setup. The moire fringe pattern encodes multiple interference phases which carry the information on multidimensional deformation. The interference field is segmented in each column and is modeled as multicomponent quadratic/cubic frequency-modulated signal in each segment. Subsequently, the product form of modified cubic phase function is used for accurate estimation of phase parameters. The estimated phase parameters are further utilized for direct estimation of the unwrapped interference phases and phase derivatives. The simulation and experimental results are provided to validate the effectiveness of the proposed method.