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 Hybrid Loan

    This variant of our medical equipment finance is designed to make your loan more affordable. Here, you borrow a fixed amount of money, however, the repayment schedule is divided into two parts. During the initial tenure, your EMI will only consist of interest component. The EMI for the subsequent period will consist of both interest and principal components.

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Features and benefits of our medical equipment finance

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Features and benefits of Medical Equipment Finance

Watch this video to learn all about Medical Equipment Finance.

  • Loan of up to

    Loan of up to Rs. 15 crore

    Get funds from Rs. 2 lakh to Rs. 15 crore through an end-to-end online application process to manage your medical equipment costs.

  • Flexible tenures of up to

    Flexible tenures of up 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.

  • Bajaj Finance offers loans up to 100% of equipment value.

    *Terms and conditions apply

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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 (18 years for 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
  • 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

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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.

  • 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)
Documentation charges Up to Rs. 2,360/- (inclusive of applicable taxes).
Flexi fee Not applicable
Prepayment charges

Full prepayment

  • Term Loan: Up to 4.72% (inclusive of applicable taxes) on the outstanding loan amount as on the date of such full prepayment
  • 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 such 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 such full prepayment

Part prepayment

  • Up to 4.72% (inclusive of applicable taxes) of the principal amount of loan prepaid on the date of such part prepayment.
  • Not applicable for Flexi Term Loan (Flexi Dropline) and Hybrid Flexi
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 42% per annum applicable 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:

  • For Term Loan: Added to the first instalment amount
  • For QDP process: Added to first instalment amount
  • For Flexi Term Loan: Added to the first instalment amount
  • For Flexi Hybrid Loan: Added to the first instalment amount

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 2.36% of the loan amount (inclusive of applicable taxes)
CERSAI charges Up to Rs. 118/- (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. 15 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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