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Medical Equipment Finance

2 unique variants | Up to Rs. 15 Cr | Tenure up to 84 months
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Features and benefits of Medical Equipment Finance
 
 
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Trusted by 3 lakh+ customers

Medical Equipment Finance
2 unique variants | Up to Rs. 15 Cr | Tenure up to 84 months
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2 unique variants

Choose between a Term Loan, or a Flexi Hybrid Loan. With a Term Loan, you will get a specific amount, which you will have to pay back in set EMIs that consist of both the principal and interest amounts. The Flexi Hybrid Loan gives you the greatest flexibility, you will be able to withdraw funds from your loan sanction as per your need, and make part-payment at no extra charge. Your EMIs will be the same as in a regular Term Loan, with both principal and interest included. It has the added bonus of paying just the interest as EMIs for the early part of your tenure.

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Loan of up to Rs. 15 crore

Get Medical Equipment Finance up to Rs. 15 crore.

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Minimal documentation

To apply for our Doctor loan, you need three main documents: 1. KYC documents - Aadhar / passport / voter's ID / driving license / letter from NPR / NREGA job card 2. PAN card 3. Medical Registration Certificate Additional documents required, if any, will be communicated during application process.

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Disbursal in 72 hours*

Get the money you need in just 72 hours* of loan approval.

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2 unique variants

Choose between a Term Loan, or a Flexi Hybrid Loan. With a Term Loan, you will get a specific amount, which you will have to pay back in set EMIs that consist of both the principal and interest amounts. The Flexi Hybrid Loan gives you the greatest flexibility, you will be able to withdraw funds from your loan sanction as per your need, and make part-payment at no extra charge. Your EMIs will be the same as in a regular Term Loan, with both principal and interest included. It has the added bonus of paying just the interest as EMIs for the early part of your tenure.

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Loan of up to Rs. 15 crore

Get Medical Equipment Finance up to Rs. 15 crore.

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Minimal documentation

To apply for our Doctor loan, you need three main documents: 1. KYC documents - Aadhar / passport / voter's ID / driving license / letter from NPR / NREGA job card 2. PAN card 3. Medical Registration Certificate Additional documents required, if any, will be communicated during application process.

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Disbursal in 72 hours*

Get the money you need in just 72 hours* of loan approval.

Medical Equipment Finance EMI Calculator

Medical Equipment Finance EMI Calculator

plan your instalments better

Features and benefits of our medical equipment finance

  • Loan of up to Rs. 15 crore

    Get funds from Rs. 2 lakh to Rs. 15 crore through an end-to-end online application process to manage your medical equipment costs.

  • Flexible tenures of up to 84 months

    Repay your loan comfortably with extended repayment tenures of up to 84 months.

  • Minimal documentation

    You need to submit just a few basic documents to apply for our medical equipment finance.

  • Approval in 48 hours*

    The 48 hours*disbursal timeframe is an estimate and may vary depending on verification processes, application timing, and additional documentation.

  • No hidden charges

    The fees and charges are mentioned upfront in all the loan documents and on this page. We advise you to read them in detail.

  • No collateral required

    You do not need to provide any collateral such as gold ornaments or property when applying for medical equipment finance.

  • End-to-end online application process

    You can apply for our medical equipment loan from the comfort of your home or from wherever you are.

  • Pre-approved offers

    We provide pre-approved offers to select customers. Check your offer by simply entering your mobile number and OTP.

    Bajaj Finance offers loans up to 100% of equipment value.

*Terms and conditions apply


Still haven’t found what you’re looking for? Click on any of the links at the top of this page.

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Eligibility criteria and documents required

There are just a few simple criteria to be eligible for our medical equipment finance. You will need some documents as well to finish your application.

Eligibility criteria

  • Nationality: Indian
  • Age: Minimum age - 18 years (18 years for non-financial /co-applicant/guarantor)
    Maximum age - 95 years*
  • CIBIL Score: 720 or higher

*Higher age limit is applicable at the time of loan maturity.

Documents required

  • Individual and business PAN card
  • Aadhaar/ passport/ voter’s ID/ driving license/ letter from NPR/ NREGA job card
  • Current account bank statements for the last 6 months
  • Business vintage proof
  • Degree certificate
  • Certificate of practice, if applicable
  • Recent colour photograph (Mandatory)

*Any additional documents that may be required will be communicated during the loan application process.

How to apply for medical equipment finance

Step-by-step guide to apply for medical equipment finance

  1. Click on the 'APPLY' button on this page.
  2. Enter your 10-digit mobile number and OTP.
  3. Fill in the application form with your basic details, such as your full name, PAN, date of birth, and PIN code.
  4. Once you enter all your details, please click on 'PROCEED' to visit the loan selection page.
  5. Enter the loan amount that you need.
  6. Choose the repayment tenure – you can select tenure options of 3 months to 84 months and click on 'PROCEED'.
  7. Complete your KYC and submit your medical equipment finance application.

Our representative will guide you on the next steps. The loan amount will be transferred to your bank account upon verification of your documents.

Applicable fees and charges

Types of fees

Charges Applicable

Rate of interest

Up to 14% per annum

Processing fee

Up to 2.95% of the loan amount (inclusive of applicable taxes)

Prepayment charges

Full prepayment

  • Term Loan: Up to 4.72% (inclusive of applicable taxes) on the outstanding loan amount as on the date of such full prepayment
  • Flexi Term Loan (Flexi Dropline): Up to 4.72% (inclusive of applicable taxes) of the total withdrawable amount as per the repayment schedule as on the date of such full prepayment
  • Flexi Hybrid Loan: Up to 4.72% (inclusive of applicable taxes) of the total withdrawable amount as per the repayment schedule as on the date of such full prepayment

Part prepayment

  • Up to 4.72% (inclusive of applicable taxes) of the principal amount of loan prepaid on the date of such part prepayment.
  • Not applicable for Flexi Term Loan (Flexi Dropline) and Hybrid Flexi

Annual maintenance charges

Not applicable
Bounce charges

Rs. 1,500/- per bounce.

“Bounce charges” shall mean charges for non-payment of instalment (s) on their respective due dates due to dishonour of payment mandate or non-registration of the payment mandate or any other reason.
Penal charge
 Delay in payment of instalment(s) shall attract Penal Charge of Rs. 190 per day per instalment from the respective due date until the date of receipt of the full instalment(s) amount.
Stamp duty (as per respective state) Payable as per state laws
Broken period interest/ pre-EMI interest


Broken period interest/ pre-EMI interest shall mean the amount of interest on loan for the number of day(s) which is(are) charged in two scenarios:

Scenario 1 – More than 30 days from the date of loan disbursal till the first EMI is charged:

In this scenario, broken period interest is recovered by the following methods:

  • For Term Loan: Added to the first instalment amount
  • For Quick disbursal process: Added to first instalment amount
  • For Flexi Term Loan: Added to the first instalment amount
  • For Flexi Hybrid Loan: Added to the first instalment amount

Scenario 2 – Less than 30 days from the date of loan disbursal till the first EMI is charged:

In this scenario, interest is charged only for the actual number of days since the loan was disbursed.
Legal, repossession and incidental charges Actual legal and incidental charges under applicable laws.
LC processing fees Up to 2.36% of the loan amount (inclusive of applicable taxes)
CERSAI charges Up to Rs. 118/- (inclusive of applicable taxes)

Our loan variants

Loan variant

What is it

Flexibility

Withdrawals

EMIs

 Part-prepayment Charges Flexi Charges

Flexi Hybrid Loan

Allows flexibility in borrowing and repaying within a specified loan limit. You can withdraw and repay multiple times within the approved limit. Interest-only EMI is charged only on the amount utilised.

Easily withdraw funds from the sanctioned limit and  prepay effortlessly with our most flexible loan variant.

Get unrestricted access to funds with multiple withdrawals from the approved loan limit.

Interest-only EMIs for the initial part of the loan tenure. EMI applicable only on the withdrawn amount.

 No part-prepayment charges. Nominal Flexi charges applicable.

Term Loan

There is no pre-assigned limit. Involves borrowing a fixed amount for a specified term. Repayments are made through regular EMIs, comprising both principal and interest.

Fixed loan structure and repayment schedule. Less flexible than our flexi term or flexi hybrid loans.

Single disbursement of the loan amount.

Fixed EMIs on the disbursed amount.

 Nominal part-prepayment charges applicable. No Flexi charges.

Frequently asked questions

What is medical equipment finance?

Bajaj Finserv Medical Equipment Finance is a loan provided to doctors and non-doctor promoters of healthcare facilities for the purchase of medical equipment.

How is this loan different from the Bajaj Finserv Doctor Loan?

In medical equipment finance, the loan is directly disbursed to the manufacturer or dealer towards the purchase of medical equipment.

What is the maximum amount of medical equipment finance that I can get?

You can apply for medical equipment finance of up to Rs. 15 crore. You can repay the loan comfortably over a long tenure from 3 months to 84 months.

Where can I find the loan account statement for my loan?

Bajaj Finance Limited offers easy online access to loan statements through their customer portal, My Account. With the help of this portal, you can view and manage your loan account from anywhere. You can also download the e-statements and certificates free of cost.

How do I apply for medical equipment finance?

You can click on 'Apply’ to open the online application form. Once you share your basic and financial details, our representative will guide you on the further steps.

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How to apply for Medical Equipment Finance
 
 

How to apply for Medical Equipment Finance

Features and benefits of Medical Equipment Finance
 
 

Features and benefits of Medical Equipment Finance

What are the eligibility criteria for a Medical Equipment Finance?
 
 

What are the eligibility criteria for a Medical Equipment Finance?

What is Medical Equipment Finance?
 
 

What is Medical Equipment Finance?

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Disclaimer

Bajaj Finance Limited has the sole and absolute discretion, without assigning any reason to accept or reject any application. Terms and conditions apply*.