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Medical Equipment Finance

• Get loan upto 5 Crore as a maximum amount
• Maximum tenure period to repay upto 7 years
• Doorstep assistance to collect document
Enquiry Form
Medical Equipment Finance
Bank Name Interest Rate Range (%) Processing Fee (%) Maximum Loan (Lacs) Maximum Tenure (Month)
Bank Name Min Interest Rate
₹ 10L
₹ 50L
₹ 1C
₹ 1.5C
₹ 2C
₹ 2.5C
₹ 3C
%
1%
5%
10%
15%
20%
25%
30%
1
10
20
30
40
50

Loan EMI

Total Interest

Total Payment

Eligibility Criteria

What you mean by medical equipment finance Eligibility Criteria?

As you know advanced medical equipment are expensive to buy, but in recent times it become basic necessity for hospital & clinic. Upgrade your hospitality services by adopting hi-tech medical equipment without effecting your cash flow. This type of facility gives you the accessibility of cash on immediate basis.

Medical loans Eligibility Criteria

Eligibility Criteria depends on various factors like age of individual, repayment history, business sales/turnover& Creditworthiness ...etc.

Eligibility Criteria

  • • Age Limit of Individuals - 25 to 65 years
  • • Promoter must have basic qualification of BDS or MBBS
  • • SCredit score of applicants should be above 700
  • • Minimum 5 years of business continuity
  • • Applicant also required to show minimum 3 years of work experience in medical field.

Note: - You can avail 80% of project cost as a maximum loan amount.

What are the factors generally affecting medical equipment finance Eligibility Criteria?

There are top factors that generally affects medical loans eligibility criteria as given below: -

Age limit criteria: - As per the standard age criteria for availing medical loans, therefore if you are age is below 25 & above 65 at the time of applying loan, due to lack of age criteria you would be able to get loan.

Lack of qualification: - Lender will check you mainstream of studies & working in terms of availing medical finance, if your studies is not meet the criteria you fail to match the criteria.

What are the ways to increase medical equipment finance eligibility?

To increase eligibility, you need to consider Top points as given below, this will aid you in increasing your eligibility level.

Track credit report on regular basis: - Try to do payment on timely basis, avoid carrying multiple credit cards as the higher usage Leds to lower credit score. Usually, credit score ranging above 700 considered to be the good score which help you in getting loan without facing any trouble.

Limit credit usage does not exceed 30%:- If you are using multiple credit cards , then do use of all credit cards with the least to least 30% ratio of actual limit.

Documents Required

  • Individual
  • Prop Firm
  • Partnership Firm-LLP
  • PVT. LTD.
Frequently Asked Questions

How much processing fee is charged for medical equipment loan?

Processing fee is levied upon processing medical equipment loan application starting.

How much minimum & maximum loan amount can I get through medical equipment loan?

Under medical equipment loan borrower can get up to 2 Crore as a maximum loan amount.

What is the current interest rate for medical equipment loan?

Medical equipment loan interest rate starts from 11.00% to 14.00% depending on applicant credit profile & earlier repayment history.

What are the documents required for medical equipment loan?

  • Identity proof
  • Address proof
  • Bank statement
  • Income proof
  • Company documents
  • Profit & loss statement of last 2 years
  • Latest 1-year ITR filed

Who is eligible for a medical equipment loan?

Any individual with the qualification of BDS, MBBS & doctors specialization in Ayurvedic & Homeopathic can apply for medical loan.

How to apply for medical equipment loan?

  • Choose your banking partner
  • Contact through their official website or visiting a bank
  • Request for a loan application
  • Fill it with correct value & attach required documents
  • Finally submit it
  • Shortly representative will review your loan application once things look good, they will further co-ordination with you.

What is a medical equipment loan?

Medical equipment loan allows purchasing medical equipment's through finance at competitive interest rates.

What is the benefits of medical equipment loan?

  • Quick & simplified processing
  • Minimal documentation makes the loan process easier
  • Hassle free processing
  • Flexible tenure facility

Who are eligible for medical equipment loan?

If you are planning to get finance to expand your business scale, make sure you meet basic criteria as your age limit should be in-between 23 – 65 years, your business continuity should be above 3 years & finally your credit score range should be above 700.

Related Topics

  • MEDICAL EQUIPMENT LOAN BY BANKS

  • MEDICAL EQUIPMENT LOAN BLOGS

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Mr. Vikas Jain is a reputed Chartered Accountant possessing in-depth understand...

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CA Vikas Jain - Chief Advisor

Mr. Vikas Jain is a reputed Chartered Accountant possessing in-depth understand...

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