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Medical Equipment Finance

2 unique variants | Up to Rs. 30 Cr | Tenure up to 120 months
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Features and benefits of Medical Equipment Finance
 
 
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Trusted by 3 lakh+ customers

Medical Equipment Finance
2 unique variants | Up to Rs. 30 Cr | Tenure up to 120 months
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To apply for our Doctor loan, you need three main documents:1. KYC documents - Aadhar / passport / voter's ID / driving license / letter from NPR / NREGA job card2. PAN card3. Medical Registration CertificateAdditional documents required, if any, will be communicated during application process.

GOT IT

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To apply for our Doctor loan, you need three main documents:1. KYC documents - Aadhar / passport / voter's ID / driving license / letter from NPR / NREGA job card2. PAN card3. Medical Registration CertificateAdditional documents required, if any, will be communicated during application process.

GOT IT

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Medical Equipment Finance EMI Calculator

Medical Equipment Finance EMI Calculator

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Features and benefits of our medical equipment finance

  • Loan of up to Rs. 30 crore

    Get funds from Rs. 2 lakh to Rs. 30 crore through an end-to-end online application process to manage your medical equipment costs.

  • Flexible tenures of up to 120 months

    Repay your loan comfortably with extended repayment tenures of up to 120 months.

  • Approval in 48 hours*

    The 48 hours*disbursal timeframe is an estimate and may vary depending on verification processes, application timing, and additional documentation.

  • 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.

  • 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


Still haven’t found what you’re looking for? Click on any of the links at the top of this page.

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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: Minimum age – 24 years for primary Applicant
    18 years age of non-financial/Co-applicant/Guarantor
    Maximum age - 95 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
    If your current address is not the same as the OVD document provided, please share any of the listed DOVD documents. Click here to view the documents.
  • 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 medical equipment finance

Step-by-step guide to apply for 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 120 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 upon verification of your documents.

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)

Documentation chargesUp to Rs. 2,360/- (inclusive of applicable taxes).
Flexi Facility Charge

Term Loan – Not applicable

Flexi variant (as applicable below) - (Inclusive of applicable taxes)

Flexi Hybrid Term Loan: Up to Rs 5999/- to Rs 29999/- (Inclusive of applicable taxes)

Will be deducted upfront from loan amount.

*(Loan amount includes approved loan amount, Insurance Premium, VAS Charges, Documentation charges)

Prepayment 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 Hybrid Term Loan: Up To 4.72% (Inclusive Of Applicable Taxes) on the outstanding loan amount, As On The Date Of Full Pre-Payment.

Part Pre-Payment
• Term Loan: Up To 4.72% (Inclusive Of Applicable Taxes) Of Principal Loan Amount Prepaid On The Date Of Such Part Pre-Payment.
• Not Applicable For Flexi Hybrid Term Loan

Note: If the primary Borrower is individual or Micro & Small Enterprises (MSEs) with or without co-borrower and loan is availed on Floating Rate of Interest, then there will be no Foreclosure / Part Prepayment Charges applicable, irrespective of the source of funds used for pre-payment of loans, either in part or in full, and without any minimum lock-in period.

 

Bounce charges

Rs. 1500/- per bounce.
“Bounce charges” shall mean charges for (i) dishonour of any payment instrument; or (ii) non-payment of instalment (s) on their respective due dates due to dishonour of payment mandate or non-registration of the payment mandate or any other reason.

Penal charge
Delay in payment of instalment(s) shall attract Penal Charge at the rate of 36% per annum per instalment from the respective due date until the date of receipt of the full instalment(s) amount.
Stamp duty (as per respective state)Payable as per state laws and deducted upfront from loan amount
Repossession Charges
Recovery of charges
LC processing feesUp to 2.36% of the loan amount (inclusive of applicable taxes)

Our loan variants

Loan variant

What is it

Flexibility

Withdrawals

EMIs

Part-prepayment ChargesFlexi Facility charges

Flexi hybrid term loan

Flexi Hybrid Term Loan refers to the variant of Loan under which, the monthly instalments will be payable as follows:

Initial Loan tenure (Interest servicing period): Monthly Instalments of the initial term of the Flexi Hybrid Term Loan, commencing from the date of disbursement of the Loan, shall comprise only of the interest component.
Subsequent Loan Tenure (Full Installment servicing period): Monthly Instalment shall comprise of principal amount and the interest component payable on the Loan (Subsequent loan tenure shall commence from the expiry of the Initial loan tenure)

Easily withdraw funds from the sanctioned limit and  prepay effortlessly with our most flexible loan variant.

Get unrestricted access to funds with multiple withdrawals from the approved loan limit.

Interest-only EMIs for the initial part of the loan tenure. EMI applicable only on the withdrawn amount.

No part-prepayment charges.Nominal Flexi Facility charges applicable.

Term Loan

There is no pre-assigned limit. Involves borrowing a fixed amount for a specified term. Repayments are made through regular EMIs, comprising both principal and interest.

Fixed loan structure and repayment schedule. Less flexible than our flexi term or Flexi hybrid term loan.

Single disbursement of the loan amount.

Fixed EMIs on the disbursed amount.

Nominal part-prepayment charges applicable.No Flexi Facility charges.

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 300000000. You can repay the loan comfortably over a long tenure from 3 months to 120 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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Watch our videos

How to apply for Medical Equipment Finance
 
 

How to apply for Medical Equipment Finance

Features and benefits of Medical Equipment Finance
 
 

Features and benefits of Medical Equipment Finance

What are the documents required for a Medical Equipment Loan
 
 

What are the documents required for a Medical Equipment Loan

How is MEF different from Doctor Loan
 
 

How is MEF different from Doctor Loan

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Disclaimer

Bajaj Finance Limited has the sole and absolute discretion, without assigning any reason to accept or reject any application. Terms and conditions apply*.