Frequently Asked Questions on Medical Equipment Loan
Find out answers for your general queries
A medical equipment loan is a secured loan offering where funds are provided to healthcare professionals who wish to upgrade and update their medical practice infrastructure to offer better medical services to their patients.
You can easily apply for a Medical Equipment loan online with our hassle-free process.
a. Click on ‘Apply Now’ and fill in the application form with basic details.
b. Submit your KYC and Income documents to check your loan eligibility.
c. Your application will be processed for verification.
d. Our quick verification process assures your loan is approved quickly.
e. Once approved, your loan is instantly credited to your bank account.
With our easy and quick Medical Equipment Loan EMI calculator, all you need to input is:
a. Poonawalla Fincorp Medical Equipment Loan Amount you wish to avail.
b. Tenure in which you would repay the loan.
c. Interest Rate is the percentage charged for the availed loan, based on your eligibility.
At Poonawalla Fincorp, we have a minimum documentation requirement to process your loan application. While applying for our Medical Equipment Loan, please keep these documents handy:
- Self Employed Professional: PAN Card, Aadhaar Card, Residence Address Proof and Business Address Proof.
- Firm/Company PAN Card, Business Address Proof and Other Applicable Registrations.
- Proprietor/Partner/Director: Aadhaar Card and PAN Card Residence Address Proof.
Bank Account Statement
Operative bank account statement of the last 6 months.
Degree Certificate and Certificate of Practice.
The Medical Equipment Loan comes with a set of benefits that will help you upgrade the quality of service you provide to your patients. This loan will benefit you as it provides:
a. Higher Loan Amount of up to 3 Crore
b. Competitive interest rates
c. Longer repayment tenure up to 84 months
d. No hidden charges ensuring complete transparency
e. Minimal documentation for hassle-free process
With Poonawalla Fincorp you can avail Medical Equipment Loan of up to 3 Crores.
You can avail our Medical Equipment Loan offering with interest rates starting at 9.99% to 11.99% p.a.
A minimum processing fee is applicable on your loan application.
No. With Poonawalla Fincorp you enjoy the convenience to prepay or foreclose your loan at no additional cost.
To avail our Medical Equipment Loan, you only need to meet the basic eligibility criteria:
a. The key person should be minimum 25 years of age at time of loan application and maximum 65 years at loan maturity.
b. The applicant must hold an MBBS/MDS/MD/MS degree with minimum 1 year of post-qualification experience and for others 3 years of post-qualification
To check your loan eligibility, kindly refer our Eligibility and Documents section.
A good credit score impacts your loan amount eligibility and the rate of interest to be charged. Your creditworthiness is also important because it demonstrates how reliable the borrower is.