4 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 lakhs 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 lakhs.
You need another Rs. 7 lakhs 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 lakhs, 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.
Flexi Hybrid Loan
This variant of our medical equipment financing operates identically to the Flexi Term Loan. The main difference is that your EMI will only consist of interest throughout the initial part of the tenure. The EMI for the following period consists of both interest and principal components.
Instalment Holiday Loan
When you choose this variant, we transfer the loan amount directly to the manufacturer/ distributor from whom you are buying medical equipment. You do not need to pay any EMI for the initial part of the repayment term as your vendor pays the interest to us directly.
This period is called Instalment Holiday Tenure. Once this period is over, you have to repay the principal component as regular EMIs for the rest of the tenure.
Features and benefits of our medical equipment finance
All you need to know about our Medical Equipment Finance
Watch this video to know everything about the features of our medical equipment finance
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Loan of up to Rs. 6 crore
Get funds up to Rs. 1 lakh to Rs. 6 crore through an end-to-end online application process to manage your medical equipment costs.
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Flexible tenures from 3 months to 84 months
Repay your loan comfortably with extended repayment tenures of up to 84 months.
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Minimal documentation
You need to submit just a few basic documents to apply for our medical equipment finance.
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Approval in 24 hours*
In most cases, your application for medical equipment finance will get approved within 24 hours*.
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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.
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No collateral required
You do not need to provide any collateral such as gold ornaments or property when applying for medical equipment finance.
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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.
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Pre-approved offers
We provide pre-approved offers to select customers. Check your offer by simply entering your mobile number and OTP.
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*Terms and conditions apply
Pre-approved offers for new customers
We have pre-approved offers for both our existing customers and new customers. We only require your phone number to verify your identity.
If you are a pre-approved customer, you do not need to complete the application process again. Consider it to be our green channel.
You may not need a loan or have an existing pre-approved offer. Still, you can choose from a wide range of products:
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Set up your Bajaj Pay Wallet
The only 4-in-1 wallet in India lets you transfer money or pay using UPI, EMI Network Card, Credit Card, and your digital wallet.
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Check your credit health
Your CIBIL Score and your credit health are two of the crucial factors you should consider for your credit health.
Click here to check your CIBIL score
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Pocket Insurance to cover all your life events
We provide over 400 insurance plans starting at Rs. 19. They cover hiking, damaging or losing your car keys, rainy-season ailments, and more.
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Set up an SIP for as little as Rs. 100 per month
You can select from over 900 mutual funds from 40+ mutual fund companies, including Aditya Birla, SBI, HDFC, ICICI Prudential Mutual Fund, and others.
EMI Calculator
Plan your installments better.
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
*Age should be 72 years or less at the end of the loan tenure.
Documents required
- Individual and business PAN card
- Aadhaar card
- Current account bank statements for the last 6 months
- Business vintage proof
- Degree certificate
- Certificate of practice, if applicable
Applicable fees and charges
Type of fee |
Applicable charges |
Rate of interest |
Up to 14% p.a. |
Processing fees |
Up to 2.95% of the loan amount (inclusive of applicable taxes). |
Stamp duty |
Payable as per state laws and deducted upfront from loan amount |
Bounce charges |
Rs. 1,500 per bounce. |
| Hypothecation | As per State laws |
Penal interest |
Any delay in payment of monthly instalment/ EMI shall attract penal interest at the rate of 3.50% per month on the monthly instalment/ EMI outstanding, from the date of default until the receipt of the monthly instalment/ EMI. |
Mandate rejection charges |
Rs. 450 per month from the first month of the due date for the mandate rejected by the customer’s bank until the new mandate is registered. |
| Flexi Fees | Not Applicable |
Part-payment charges |
Full Pre-payment |
| Annual Maintenance Charges | Not Applicable |
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): Scenario 1: Over and above the period of 30 (thirty) days from the date of disbursement of the loan. Method of recovery of Broken Period Interest/ Pre-EMI Interest: Scenario 2: Less than the period of 30 (thirty) days from the date of disbursement of the loan, interest on first instalment will be charged for actual number of days. |
Legal, Repossession and Incidental Charges |
Legal and incidental charges are levied under applicable law. |
Commitment fees (non-refundable) |
Up to 12,999/- (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.