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

  • Loan of up to

    Loan of up to Rs. 6 crore

    Get funds up to Rs. 50 lakh to Rs. 6 crore through an end-to-end online application process to manage your medical equipment costs.

  • Flexible tenures of up to

    Flexible tenures from 3 months to 84 months

    Repay your loan comfortably with extended repayment tenures of up to 84 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.

  • *Terms and conditions apply

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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.

Check your pre-approved offer

You may not need a loan or have an existing pre-approved offer. Still, you can choose from a wide range of products:

  • Set up your Bajaj Pay Wallet

    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.

    Download Bajaj Pay

  • Check your credit health

    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

  • Pocket Insurance to cover all your life events

    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.

    Discover Insurance Mall

  • Set up an SIP for as little as Rs. 500 per month

    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.

    Discover Investment Mall

EMI Calculator

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

How to apply for a medical equipment finance

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 84 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.

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
•Term Loan: Up to 4.72% (Inclusive of applicable taxes) on the outstanding loan amount as on the date of full pre-payment
•Flexi Term Loan (Flexi Dropline): Up to 4.72% (Inclusive of applicable taxes) of the total withdrawable amount as per the repayment schedule as on the date of 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 full prepayment.

Part Pre-payment
•Up to 4.72% (Inclusive of applicable taxes) of the principal amount of Loan prepaid on the date of such part Pre-Payment.
•Not Applicable for Flexi Term Loan (Flexi Dropline) and Hybrid Flexi

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:
For Term Loan: Deducted from disbursement
For Flexi Term Loan and Flexi Hybrid Loan: Added to first instalment amount

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

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. 6 crore. You can repay the loan comfortably over a long tenure from 3 months to 84 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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