By proceeding, you agree to our Terms and Conditions
2 unique variants of our medical equipment finance
-
Term Loan
This is a typical, standard loan. You borrow a set amount of money, which is divided into equal monthly principal and interest payments.
There is a fee for both partial and early repayment of your Term Loan before the end of its tenure.
-
Flexi Term Loan
This variant is designed to make your loan more affordable.
Let’s assume you have borrowed Rs. 30 lakh with a repayment tenure of 36 months. For the first 12 months, you pay the EMIs on time. By now, you should have paid back about Rs. 10 lakh.
You need another Rs. 7 lakh at this time. To withdraw more money from your Flexi Term Loan account, sign-in to My Account.
Now, let us say that you decide to pay back a part of your loan, say Rs. 5 lakh, after six months. You can do this by going to My Account and signing in.
We adjust your interest on an automatic basis throughout your tenure. Additionally, you only have to pay interest on the loan amount you actively use. This amount and the adjusted interest are both part of your EMI.
Features and benefits of our 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 Rs. 6 crore
Get funds from Rs. 2 lakh to Rs. 6 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 24 hours*
In most cases, your application for medical equipment finance will get approved within 24 hours*.
-
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
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: 24 years to 72 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
01:35
-
Did you know?
You can lower your EMI amount by choosing a longer loan tenure of up to 84 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) |
| Flexi fee | Not applicable |
| Prepayment charges | Full prepayment
Part prepayment
|
| Annual maintenance charges | Not applicable |
| Bounce charges | In case of default of repayment instrument, Rs. 1,500/- per bounce will be levied. |
| Penal interest | Delay in payment of monthly instalment shall attract penal interest at the rate of 3.50 % per month on the monthly instalment outstanding, from the respective due date until the date of receipt of the monthly instalment. |
Stamp duty (As per respective state) |
Payable as per state laws |
| Mandate rejection charges | Rs. 450/- per month from the first month of due date for mandate rejected by customer's bank until the new mandate is registered |
| 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:
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% of the loan amount (inclusive of applicable taxes) |
Frequently asked questions
Bajaj Finserv Medical Equipment Finance is a loan provided to doctors and non-doctor promoters of healthcare facilities for the purchase of medical equipment.
In medical equipment finance, the loan is directly disbursed to the manufacturer or dealer towards the purchase of medical equipment.
You can apply for medical equipment finance of up to Rs. 6 crore. You can repay the loan comfortably over a long tenure from 3 months to 84 months
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.
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.
