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For MSMEs with turnover up to ₹30 Cr
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- Loans For Self Employed Professionals
- Medical Equipment Finance
Loan amount can be availed for minimum ₹10 lakhs up to ₹7.5 crores
Funding against the medical equipment purchased
Loan can be availed for a minimum tenure of 12 months up to 84 months
Moratorium up to 6 months available
Collateral free up to ₹5 crores
Loans for refurbished equipment and balance transfer also available
Medical Equipment Loans
Expand your business and enhance your facilities with collateral free Medical Equipment Loans designed especially for doctors. This MSME finance provides a long term funding against the medical equipment purchased.
Features & Benefits
- Monthly Average Balance requirement - Rs. 25,000/-
- Monthly Cash Deposit limit - @ 8 times the Monthly Average Balance maintained up to maximum of 2 Cr/-
- Cheque Book, DD/PO, Alerts, Standing instructions & Certificate of Balance - Free
- Unlimited NEFT/RTGS transactions through all channels
- Unlimited Cash withdrawal within/outside the city
- Debit Card: Business Classic Debit Card
Commercials
| Loan processing charges | It is up to 1% + applicable taxes. |
|---|---|
| Part pre-payment charges | NA |
| Foreclosure Charges | It is 2.00% of the sanctioned limit. |
| Penal interest | It is 2.00% p.a. in addition to the existing rate of interest. |
| Repayment Instruction / Instrument Return Charges | ₹500 per instance + applicable taxes |
Eligibility & Documentation
Eligibility Medical Equipment Loans
Business Vintage
- Minimum 2 years in current profession
Business Income
- Minimum business income of ₹5 lakhs
Age
- Minimum 21 years at the time of loan application
- Maximum 65 years at the end of loan tenure
Residence / Office Stability
- Either office or residential property is to be owned
- Residence stability should be of at least 12 months
- Office stability should be of at least 24 months
Documents Medical Equipment Loans
- KYC Documents
- Duly filled in application form signed by the customer
- Relevant financial documents
- Bank account statement of last 6 months
- PAN Card/Form 60
- Degree certificate and registration certificate with MCI or State Medical Council
- Pro forma invoice / Quotation of equipment or machinery being purchased
