Simple Process to Get Medical Equipment Loan for Doctors
Practicing medicine is considered to be among the noblest professions in the world. A doctor treats hundreds of patients every day for diseases and illnesses. With medical technology evolving at breakneck speed, doctors may need to upgrade their existing machinery and equipment to provide patients with better care.
At Poonawalla Fincorp, we understand this need and have designed medical equipment loans for doctors to meet their expansionand up-gradation requirements. Applying for a loan with us is a simple and hassle-free process that can be completed online. With just a few documents and certain checks in place, you can get an equipment loan to open a clinic or upgrade your existing one.
Uses of Equipment Loan for Doctors’ Practice
Equipment financing for doctors is a secured loan that can be used for various purposes. You will not have to compromise on the quality of treatment you provide your patients just because you don’t have the capital to do so. With Poonawalla Fincorp’s equipment financing for doctors, you can meet various goals. You can use the medical equipment loan for doctors to:
- Expand your doctors’ practice
- Upgrade the equipment in your clinic
- Purchase state-of-the-art equipment for providing top-class treatment
- Improving the technology in your clinic
- Updating your operational systems
Features & Benefits
Minimum Processing Fees | High Loan Value | Zero Hidden Costs
Equipment financing for doctors should help meet all the requirements you have for upgrading your existing clinic. When you refurbish your clinic, you will already have enough to worry about. The loan process shouldn’t be an additional worry.
To ensure you have a hassle-free experience getting an equipment loan for clinic expansion, we at Poonawalla Fincorp provide the best features and benefits on our loans for doctors. From an online process and simple documentation requirements to quick processing and fast disbursal, you will get the best experience with our loans.
- Here are the top features of Poonawalla Fincorp’s equipment loan for doctors’ practice:
- High loan amount of up to ₹10 Crore
- Structured repayment option
- Principal moratorium of up to 2 years
- Loan tenure of up to 84 months or 7 years
- Quick disbursal
- Affordable interest rates
- Simple documentation requirements
- Zero hidden charges
- Choice of online process
- Easy 5-step loan application process
Eligibility Criteria for a Medical Equipment Loan for Doctors
- The requirements to avail equipment financing for doctors are straightforward and minimal. All you need to do is fulfil these four criteria:
- Age limit
- Indian citizenship
- Necessary educational qualifications
- Minimum work experience
If you meet all the simple criteria that Poonawalla Fincorp has for getting an online medical equipment loan for doctors, your loan will be granted in no time. Additionally, if your credit score is solid and you have a good credit history, you will get attractive interest rates and terms on your loan.
Documents Required for a Medical Equipment Loan for Doctors
- To get an equipment loan for doctors’ practice, you will require certain documents used as verification to grant your loan. These include:
- KYC documents such as PAN Card, Aadhar Card, Business Address Proof, etc.
- Bank account statements
- Qualification documents
Frequently Asked Questions
Why is there a need for medical equipment loans for doctors?
Upgrading all the equipment and machinery to successfully run a doctors’ clinic requires funds. Not everyone may be able to arrange these funds on their own. That’s why availing of equipment financing for doctors can be a great way to set up a new practice or upgrade your existing one. It makes the whole process simple and effortless.
Who can avail of online medical loans for doctors?
Any Indian citizen who is a minimum of 25 years old or a maximum of 65 years and has a medical degree – either an MBBS, MDS, MS or MD can avail of medical loans for doctors to purchase equipment. The individual must also have a minimum of one year of work experience as a doctor. An already established business can also avail of the loan.
How much money can I borrow as an equipment loan for a clinic?
As a practicing doctor, Poonawalla Fincorp offers up to ₹10 Crore as a loan for medical equipment financing. You can avail this loan by meeting certain qualifying criteria and furnishing documents.
Can I get an equipment loan for doctors’ practice without collateral?
No. Medical equipment loan for doctors is a secured loan because of the amount of money involved. However, the equipment that you purchase becomes the collateral for the loan. You don’t have to submit any other collateral to secure the loan. In case of failure to make your EMI payments, the equipment can be sold to recover the money lent.
How to apply for a medical equipment loan with Poonawalla Fincorp?
Applying for a medical equipment loan for doctors with Poonawalla Fincorp is simple. The whole process can be completed online in five simple steps:
- Step 1: Go to the Apply Now option on the medical equipment loan page and fill in the application form.
- Step 2: Submit all the essential documentation.
- Step 3: Wait for all your documents to be verified.
- Step 4: After verification, your loan amount will be processed.
- Step 5: Your loan will be credited to your bank account.