Medical Equipment Loan Interest Rates 2025

Check the latest medical equipment loan interest rate and other applicable charges.

Medical equipment loan interest rates and applicable 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 Facility Charge

Term Loan – Not applicable

Flexi Hybrid Term Loan:
• Up to Rs. 5,999 (inclusive of applicable taxes) for loan amounts less than Rs. 50,00,000
• Up to Rs. 11,999 (inclusive of applicable taxes) for loan amounts between Rs. 50,00,000 and Rs. 74,99,999
• Up to Rs. 14,999 (inclusive of applicable taxes) for loan amounts between Rs. 75,00,000 and Rs. 99,99,999
• Up to Rs. 19,999 (inclusive of applicable taxes) for loan amounts between Rs. 1,00,00,000 and Rs. 2,49,99,999
• Up to Rs. 21,999 (inclusive of applicable taxes) for loan amounts between Rs. 2,50,00,000 and Rs. 4,99,99,999
• Up to Rs. 25,999 (inclusive of applicable taxes) for loan amounts between Rs. 5,00,00,000 and Rs. 7,49,99,999
• Up to Rs. 29,999 (inclusive of applicable taxes) for loan amounts of Rs. 7,50,00,000 and above

Note:
(1) The above mentioned flexi facility charges are inclusive of applicable taxes.
(2) The above mentioned flexi facility charges will be deducted upfront from the loan amount.
(3)  The loan amount includes approved loan amount, insurance premium, VAS charges and 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 such full pre-payment
• Flexi Hybrid Term Loan: Up to 4.72% (Inclusive of applicable taxes) of the dropline limit as per the repayment schedule as on the date of such full prepayment.

Part Pre-payment
• Term Loan -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 Hybrid Term Loan

Bounce charges

Rs. 1,500/- 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
Legal, repossession and incidental charges Recovery of charges
LC processing fees
Up to 2.36% of the loan amount (inclusive of applicable taxes)
Principal Holiday Facility Fees Principal Holiday (as applicable below) -

Up to Rs. 5,999 (Inclusive of applicable taxes) for loan amount less than Rs. 50,00,000.
Up to Rs. 11,999 (Inclusive of applicable taxes) for loan amount between Rs. 50,00,000 and 74,99,999.
Up to Rs. 14,999 (Inclusive of applicable taxes) for loan amount between Rs. 75,00,000 and Rs. 99,99,999.
Up to Rs. 19,999 (Inclusive of applicable taxes) for loan amount between Rs. 1,00,00,000 and Rs. 2,49,99,999.
Up to Rs. 21,999 (Inclusive of applicable taxes) for loan amount between Rs. 2,50,00,000 and Rs. 4,99,99,999.
Up to Rs. 25,999 (Inclusive of applicable taxes) for loan amount between Rs. 5,00,00,000 and Rs. 7,49,99,999.
Up to Rs. 29,999 (Inclusive of applicable taxes) for loan amount Rs. 7,50,00,000 and above.

Note-
The above principal holiday fees will be deducted upfront from loan amount.
Loan amount includes approved loan amount, Insurance Premium, VAS Charges and Documentation charges.

What is the medical equipment loan interest rate?

The medical equipment loan interest rate refers to the rate of interest charged on funds borrowed to purchase medical devices, diagnostic tools, or other healthcare equipment. This rate varies depending on the lender, applicant’s credit profile, loan amount, and repayment tenure. Typically, these loans are designed to support healthcare professionals and institutions in acquiring high-quality medical equipment without upfront financial strain. Understanding the applicable interest rate is essential, as it directly impacts your total repayment amount over the loan tenure.

How to calculate medical equipment loan interest rate?

To estimate the cost of borrowing accurately, it is important to understand how to calculate the medical equipment loan interest rate. Here’s a step-by-step approach:

  • Check the loan amount and selected tenure – interest rates are often influenced by these parameters.
  • Identify whether the loan follows a fixed or floating interest rate structure.
  • Review the lender’s base rate and applicable margins.
  • Calculate the monthly instalment using the standard EMI formula:
  • EMI = [P x R x (1+R)^N] / [(1+R)^N – 1],
  • where P is the loan amount, R is the monthly interest rate, and N is the loan tenure in months.
  • Consider additional costs like processing fees or prepayment charges, if applicable.

For a simplified approach, use the medical equipment finance EMI calculator to get an accurate estimate of your EMI based on the loan amount, tenure, and interest rate. This tool helps you evaluate affordability before applying.

Factors affecting interest rates on medical equipment loan

Several factors can influence the medical equipment loan interest rate. Being aware of these elements can help you make informed borrowing decisions:

Key factors include:

  • Credit score and credit history of the borrower
  • Loan amount and repayment tenure selected
  • Type of medical equipment being financed
  • Applicant’s financial stability and business vintage
  • Existing relationship with the lender
  • Type of interest rate structure – fixed or floating
  • Market lending rates and lender’s internal policies

The table below outlines these factors for better understanding:

Factor

Impact on Interest Rate

Credit Score

Higher score generally results in lower rates

Loan Amount

Larger amounts may come with preferential rates

Loan Tenure

Longer tenure may affect interest rate structure

Equipment Type

Advanced or high-risk equipment may attract higher rates

Financial Profile

Strong income and stability lower the interest rate

Relationship with Lender

Existing customers may get better terms

Interest Rate Type

Fixed rates offer stability; floating may vary

Understanding these influences can help you estimate a more realistic medical equipment loan interest rate.

How to get the lowest interest rate on a medical equipment loan?

To avail of the most competitive medical equipment loan interest rate, consider the following measures:

  • Maintain a strong credit score to increase your eligibility for lower rates.
  • Choose a shorter repayment tenure, if manageable, as shorter durations often attract better interest rates.
  • Borrow only what you need – lower loan amounts may reduce risk for lenders and result in favourable rates.
  • Provide accurate and complete documentation to streamline your application process.
  • Explore offers from multiple lenders and compare terms before making a decision.
  • Maintain a good banking relationship or existing track record with the lender.
  • Use tools like our EMI calculator to evaluate your loan cost beforehand.

Applying these strategies can help you secure a lower medical equipment loan interest rate, thereby making your investment in medical infrastructure more cost-efficient.

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 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 on the successful verification of your documents.

Frequently asked questions

What is the processing fee for medical equipment finance?

The processing fee for a Bajaj Finserv Medical Equipment Finance may go up to 2.95% of the loan amount (inclusive of applicable taxes).

Is there a charge applicable on part-prepayments?

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

What does bounce charge mean?

Bounce charge is the fee incurred in case of a missed EMI payment. "Rs. 1,500/- 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"

What is the interest rate for medical equipment finance?

You can get a Bajaj Finserv Medical Equipment Finance at a competitive interest rate of up to 14% per annum.

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