Loan for medical store

As technology advances and more Indians get access to superior medical services, the demand for medical stores will continue to grow.

With increasing business opportunities for this sector, more people are looking for funds to open medical stores all over the country. To fulfil their demands, Bajaj Finance is offering unsecured business loans to open medical shops.

Walk into the nearest branch or apply online.

Features and benefits of our business loan for medical store

  • High-value loans up to Rs. 80 lakh

    High-value loans up to Rs. 80 lakh

    Bajaj Finance offers instant business loans with a high value of up to Rs. 80 lakh to set up a medical store.

  • Flexi Loan facility

    Flexi Loan facility

    With the Flexi Loan facility, borrow any amount within a fixed limit and pay interest only on the withdrawn amount.

  • Flexible repayment period

    Flexible repayment period

    Opt for a repayment period within 96 months as per your financial needs.

  • Hassle-free application

    Hassle-free application

    Our business loans get approved in only 48 hours*, have easy eligibility criteria and quick disbursal.

  • Online access to your account

    Online access to your account

    Get convenient access to your loan due amount and loan statements online.

  • No need for collateral

    No need for collateral

    Our loans are collateral free. So, no need to risk valuable assets for access to funds to open a medical store.

Loans for medical shops

Bajaj Finance offers existing business loan of up to Rs. 80 lakh for your pharmacy shop. These business loans for medical shops are unsecured and thus, do not require you to stake any valuables for funds.

These loans come with a range of features and benefits. In addition, you can get a personalised loan suitable for the funding requirements of your pharmacy.

How to open a medical store?

Before opening a medical store, you need to conduct thorough research on the requirements of the pharmacy sector. You will need to plan what type of medical store you want to build.

Next, make arrangements for a store with sufficient space for goods as well as space to store extra items.

You also need some qualified pharmacists and several licences and permits, including registration of medical store business, your company, registration for drug license (retail/ wholesale) and GST registration.

You will also need sufficient funding to ensure that your store is fully stocked. A business loan to open a medical store can help with this.

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How can a business loan help to open a medical store?

A business loan can help to open a medical store in many ways. Some of the benefits of a business loan for a medical store are:

  • To buy or rent a suitable location for the store. A good location can attract more customers and increase sales.
  • Purchase the necessary equipment and inventory for the store.
  • It can help to hire and train staff for the store.
  • Advertise and market the store, which can help create awareness and generate demand for the store’s products and services.

How much investment is needed to open a medical store?

Before deciding to open a pharmacy, consider the various expenses involved. Given are some of the approximate costs (which can vary for different locations in India):

  • Cost of renting commercial space for the shop: Rs. 10,000 to Rs. 1,00,000 per month
  • Hiring at least one pharmacist: Rs. 5,000 to Rs. 30,000 every month
  • Furniture and other fittings: Around Rs. 30,000
  • Cold storage for medicines: Around Rs. 10,000
  • Legal paperwork: Rs. 6,000 or more
  • Other expenses: Around Rs. 15,000

Besides these monthly expenses, you may also need to invest approximately Rs. 50,000 to Rs. 1,00,000 in medicine stocks. The requirements for this will vary for different sellers, mediums of payment, geographical locations, etc.

One may need an initial investment ranging from Rs. 3,00,000 to Rs. 8,00,000, depending on where you open the medical store.

Eligibility criteria of our business loan for medical store

Bajaj Finance makes it easier for medical shops to get these loans by offering simple eligibility criteria. The following is a list of these eligibility criteria for business loans for pharmacy shops.

  • Age


    24 years to 80 years*
    (*age should be 80 years at loan maturity).

  • CIBIL Score

    CIBIL Score

    Minimum score of 685.

  • Citizenship


    The applicant must be a resident Indian citizen.

  • Employment type

    Employment type


  • Business vintage

    Business vintage

    Applicant’s business must be at least 3 years old.

Bajaj Finance offers an eligibility calculator to help you estimate how much loan amount one can apply for. Factors such as CIBIL Score, tax payment history, and EMI repayment behaviour also play an essential role in deciding eligibility.

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Documents required for our business loan

The following is a list of documents required for MSME loans for medical shops:

  • Identity proof: Voter ID card, PAN card, passport, Aadhaar card, driving licence or any other government-issued ID.
  • Address proof: Electricity bill, telephone bill, trade licence, passport, lease agreement, or other government-issued official documents.
  • Proof of business ownership: IT returns, registration document, partnership agreement, GST returns, shop registration certificate, certificate of commencement, article, and MOA of a private limited company.
  • Financial documents: Audited balance sheet, profit loss statements for last 2 years, bank account statement for previous 6 months, ITR copy for the last year.

Interest rates and charges for Business Loan

Bajaj Finance makes it easy to get a high-value business loan for pharmacy shops by providing affordable interest rates. The interest rates for these loans are affordable and can change due to your credit score, nature of business, and monthly turnover.

Bajaj Finance maintains 100% transparency with its rates and charges. It charges minimal processing fees, foreclosure charges, and zero part-prepayment charges for loans with floating interest rates.

Choose both fixed and floating interest rates for business loans from Bajaj Finance. The former ensures a fixed rate of interest throughout the loan repayment period. The latter will change depending on the current repo rates.

Frequently asked questions

How can I take out a loan for a medical shop?

You can apply for a business loan from Bajaj Finance for a medical shop. If you meet the eligibility criteria, submit the required documents, you can get a loan of up to Rs. 80 lakh.

How much does it cost to invest in a medical shop?

The cost of investing in a medical shop depends on various factors, such as the location, size, type, and range of products of the store. On average, a small to medium-sized medical store in India can require an investment of Rs. 3 to 8 lakh for a retail or wholesale business. The investment amount will be higher for large towns and metropolitan cities.

What is the monthly income in medical store?

The monthly income in a medical store is influenced by the local population, the demand and supply of medicines, the profit margin, and the competition. On average, a small to medium-sized medical store in India can earn anywhere between Rs. 50,000 to Rs. 2,50,000 per month. The income can vary depending on the seasonality, customer loyalty, and marketing strategies.