By proceeding, you agree to our Terms and Conditions

2 unique variants of our medical equipment finance

  • Term Loan

    The loan type offers two repayment options: fixed monthly payments for the full term or up to 12 months of interest-only payments, followed by interest and principal payments.

  • Flexi Hybrid Loan

    This variant of our medical equipment finance is designed to make your loan more affordable. Here, you borrow a fixed amount of money, however, the repayment schedule is divided into two parts. During the initial tenure, your EMI will only consist of interest component. The EMI for the subsequent period will consist of both interest and principal components.

  • Instalment Holiday loan

    The Borrower shall not be required to pay Equated Monthly Instalment/ Installment for the specific number of months.
    it is agreed by the Borrower that the interest component during the Instalment Holiday Tenure, shall be recovered from the manufacturer/distributor to whom the loan amount is disbursed on behalf of the Borrower and the Principle component shall be recovered from subsequent Monthly Instalments post the Instalment Holiday Tenure.

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Features and benefits of our medical equipment finance

Features and benefits of Medical Equipment Finance 00:52 ‌

Features and benefits of Medical Equipment Finance

Watch this video to learn all about Medical Equipment Finance.

  • Loan of up to

    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

    Flexible tenures of up to 120 months

    Repay your loan comfortably with extended repayment tenures of up to 120 months.

  • Minimal documentation

    Minimal documentation

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

  • Approval in

    Approval in 24 hours*

    In most cases, your application for medical equipment finance will get approved within 24 hours*.

  • No hidden charges

    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

    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

    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

    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

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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 a medical equipment finance

Video Image 00:42
   

Step-by-step guide to apply for a 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 120 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 on the successful verification of your documents.

  • Did you know?

    You can lower your EMI amount by choosing a longer loan tenure of up to 120 months.

  • Did you know?

    You can get approval on your loan within 24 hours of the verification of documents.

  • Did you know?

    With Flexi Hybrid Loan, pay interest-only EMIs for the initial part of the tenure.

  • Did you know?

    No collateral such as property or gold ornaments are needed to apply for the loan.

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)
Documentation charges Up to Rs. 2,360/- (inclusive of applicable taxes).
Flexi Facility Charge

Term Loan - Not applicable

Flexi term loan (Flexi dropline)
Up to Rs. 999 (inclusive of applicable taxes) for loan amount less than Rs. 50,00,000.
Up to Rs. 1,999 (inclusive of applicable taxes)for loan amount between Rs. 50,00,000 and Rs. 74,99,999.
Up to Rs. 1,999 (inclusive of applicable taxes) for loan amount between Rs. 75,00,000 and Rs. 99,99,999
Up to Rs. 2,999 (inclusive of applicable taxes) for loan amount between Rs. 1,00,00,000 and Rs. 2,49,99,999
Up to Rs. 3,999 (inclusive of applicable taxes) for loan amount between Rs. 2,50,00,000 and Rs. 4,99,99,999
Up to Rs. 4,999 (inclusive of applicable taxes) for loan amount between Rs. 5,00,00,000 and Rs. 7,49,99,999
Up to Rs. 5,999 (inclusive of applicable taxes)for loan amount Rs. 7,50,00,000 and above

Flexi Hybrid loan –
Up to Rs. 5,999 (inclusive of applicable taxes) for loan amount less than Rs. 50,00,000.
Up to Rs. 11,999 (inclusive of applicable taxes) for loan amount between Rs. 50,00,000 and Rs. 74,99,999.
Up to Rs. 14,999 (inclusive of applicable taxes) for loan amount between Rs. 75,00,000 and Rs. 99,99,999
Up to Rs. 19,999 (inclusive of applicable taxes) for loan amount between Rs. 1,00,00,000 and Rs. 2,49,99,999
Up to Rs. 21,999 (inclusive of applicable taxes) for loan amount between Rs. 2,50,00,000 and Rs. 4,99,99,999
Up to Rs. 25,999 (inclusive of applicable taxes) for loan amount between Rs. 5,00,00,000 and Rs. 7,49,99,999
Up to Rs. 29,999 (inclusive of applicable taxes) for loan amount Rs. 7,50,00,000 and above

Will be deducted upfront from loan amount

*Loan amount includes approved loan amount, insurance premium, VAS charges, and documentation charges.
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 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 Hybrid Flexi
Annual maintenance charges Not applicable
Bounce charges

Rs. 1,500/- per bounce.

“Bounce charges” shall mean charges for (i) dishonour of any payment instrument; or (ii) 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

Method of recovery of "Broken Period Interest/Pre monthly instalment Interest" would be as follows:

Scenario 1: If Loan is disbursed on 1st or post 10th of the month:

For Term Loan, Hybrid Flexi Loan : BPI amount will be capitalised, i.e added to Principal amount on Due date / Added to first instalment

For Quick disbursal process: BPI amount will be capitalised, i.e added to Principal amount on Due date / Added to first instalment

Scenario 2: If Loan is disbursed between 3rd and 10th of the month:

First instalment will consist of interest for actual number of days.
Legal, repossession and incidental charges Recovery of charges
LC processing fees
 Up to 2.36% of the loan amount (inclusive of applicable taxes)

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 120 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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