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Long-term 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
- Loan amount can be availed for minimum ₹ 10 Lakh up to ₹ 7.5 Crore
- Loan can be availed for a minimum tenure of 12 months up to 84 months
- Collateral free up to ₹ 5 Cr
- Funding against the medical equipment purchased
- Moratorium up to 6 months available
- Loans for refurbished equipment and balance transfer also available
Commercials
| Loan Processing Charges: | Up to 1% + applicable taxes |
|---|---|
| Part Pre-payment Charges: | NA |
| Foreclosure Charges: | 2.00% of principal outstanding |
| Penal Interest: | 2.00% p.a. additional on existing rate of interest |
| Repayment Instruction/Instrument Return Charges: | ₹500/- per instance + applicable taxes |
Eligibility & Documentation
Eligibility
Business Vintage
- Minimum 2 years in current profession
Age
- Minimum 21 years at the time of loan application
- Maximum 65 years at the end of loan tenure
Business Income
- Minimum business income of ₹ 5 Lakh
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
Documentation
- 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
Frequently Asked Questions
We offer Medical Equipment loan to individuals, proprietorship firms, partnership firms, LLP, pvt. ltd. companies, unlisted public companies, society and trust.
Eligible profiles are MBBS, BDS, MDS, MS, DM, diagnostic centres, hospitals, pathology labs, nursing homes, clinics, medical college, etc.
We offer competitive interest rates for our loan facilities. The interest for each loan is determined based on assessment of your business profile, past track record, financial records, loan amount required and tenure of loan.
Repayment shall be in monthly installments, including principal and interest.
The type of equipment funded under this loan are diagnostic equipment, imaging equipment, therapeutic and treatment equipment, life support equipment, medical monitors, pathology equipment, original equipment manufacture and refurbished/pre-owned machines.
Minimum business vintage required for Medical equipment loan is 2 years.
