- Business Banking
- Small Business Banking
- Loans For Self Employed Professionals
- Medical Equipment Finance
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.
- Loan amount can be availed for minimum Rs. 10 Lakh up to Rs. 7.5 Crore
- Loan can be availed for a minimum tenure of 12 months up to 84 months
- Collateral free up to Rs. 5 Cr
- Funding against the medical equipment purchased
- Moratorium up to 6 months available
- Loans for refurbished equipment and balance transfer also available
- Minimum 2 years in current profession
- Minimum business income of Rs. 5 Lakh
- 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
- 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
Loan Processing Charges
Up to 1% + applicable taxes
Part Pre-payment Charges
2.00% of principal outstanding
2.00% p.a. additional on existing rate of interest
Repayment Instruction / Instrument Return Charges
Rs. 500/- per instance + applicable taxes
Q. Which are the constitutions and profiles eligible under Medical Equipment Loan?
A. 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.
Q. What is the interest rate on your loan facility?
A. 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.
Q. What is the repayment structure of the loan?
A. Repayment shall be in monthly installments, including principal and interest.
Q. What types of equipment are funded under this loan type?
A. 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.
Q. What is the minimum business vintage required under this loan type?
A. Minimum business vintage required for Medical equipment loan is 2 years.