Medical Equipment Finance eligibility and documents

Read on to know the criteria required to get our medical equipment finance.

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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.

More details

For loans exceeding Rs. 2 lakh and up to Rs. 15 crore

  • Business vintage of a minimum of 2 years
  • Documents including income tax returns (ITR), profit and loss (P&L) statement, an audited balance sheet for the last 2 years, and a current account bank statement for 6 months

Work experience

  • Doctors – A minimum of 1 year of post-qualification experience for MBBS/ MD and higher degrees
  • Other professionals – A minimum of 3 years of post-qualification experience

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.

Frequently asked questions

What is the maximum tenure to repay the medical equipment finance?

You can take advantage of our flexible repayment tenures ranging up to 84 months

What is the CIBIL Score required to be eligible for medical equipment finance?

A CIBIL Score of 720 or higher is required to apply for our medical equipment finance.

Do I need to provide any security to get a medical equipment finance?

You do not have to provide any collateral or security such as property or gold ornaments to apply for our medical equipment finance.

What is the maximum amount of medical equipment finance that I can get?

You can get a medical equipment finance of up to Rs. 15 crore, which you can repay comfortably over a long tenure of up to 84 months.

What are the eligibility criteria for getting medical equipment finance?

The eligibility criteria are as follows:

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.

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