Quick and Easy Medical Equipment Loan for a Hospital
Make your dreams of opening a new hospital/clinic/laboratory/diagnostic centre with a Medical Equipment Loan for Hospital from Poonawalla Fincorp. We offer this loan for individual medical practitioners and hospitals registered as a business.
Getting a Medical Equipment Loan for Hospital with us is easy. All you need to do is check your eligibility, submit a few basic documents for verification and get the amount credited to your bank account.
Features and Benefits of Medical Equipment Loan for Hospital
You can get a loan of up to ₹10 Crore, and the complete online process makes borrowing a hassle-free experience. Other features and benefits of Medical Equipment Loan for Hospital, include:
- Instant Disbursal: Get the loan directly into your bank account after verification.
- Minimal Documentation: Provide your KYC documents and address proof.
- Competitive Interest Rates: Interest rate starts from 9.99% per annum.
- Zero hidden charges: All fees and charges are disclosed.
- Flexible EMIs: Repay the loan at your convenience with a loan tenure of up to 84 months.
- No End Usage Restriction: Use the loan to meet any financial requirement.
- Easy Application: Just hit the ‘Apply Now’ button to get a Medical Equipment Loan!
Medical Equipment for Hospital Loan Interest Rates & Charges
When you apply for a Medical Equipment Loan for Hospital, you must know the associated charges to get a clear picture of the overall borrowing cost.
- Interest rate: The interest rate is competitive, starting at 9.99% p.a.
- Processing fees: You pay up to 2% charges for loan processing.
- Default Charges: 24% per annum, on the defaulted EMI amount, as more particularly specified in the Default Charges. Also, in case of a cheque bounce, you must pay a ₹500 penalty.
Please refer to the table below for more details on applicable charges:
| Medical Equipment Loan Interest Rates | 9.99% p.a. onwards |
| Loan Amount | ₹2 Lakh - ₹10 Cr |
| Loan Processing Fees | Up to 2% |
| Loan Tenure | Up to 84 months |
| Prepayment/Foreclosure Charges | 0%* If paid from own sources. 4% of the outstanding loan amount plus taxes if paid from other sources |
| Default Charges | 24% per annum |
| Repayment Instrument Dishonour Charges | ₹500 per bounce plus applicable taxes |
| Stamp Duty | At actuals |
| No Other Hidden Charges | |
Note: Default Charges: Penalty will be charged for non payment of EMI amount and for non-compliance of material terms and conditions, as more particularly specified at Default Charges.
Eligibility Criteria for a Medical Equipment Loan for Hospital
Our Medical Equipment Loan criteria are minimum so you can maximum benefits.
- Age: Between 25 and 65 years.
- Work Experience: Medical professionals like MBBS/MDS/MD/BDS/MS must have at least one year of work experience after completing their medical qualification. Other healthcare professionals must have three years of post-education experience.
Note: The eligibility mentioned above list is indicative. Additional eligibility criteria may be required during loan processing by Poonawalla Fincorp.
Documents Required
Our simple documentation process ensures that you don’t deal with a lot of paperwork. You only need to submit a few basic documents, including:
- KYC Documents: Government-issued IDs such as PAN Card/Aadhaar Card/Driving Licence/Voter ID/Passport (for self-employed individuals). Other Applicable Registrations (for Firm/Company).
- Bank Account Statement: Bank account statement for last six months
- Qualification Documents: Degree Certificate and Certificate of Practice
Note: The above-mentioned loan documents list is indicative. Additional documents may be required during loan processing.
Applying for Medical Equipment for Hospital
With Poonawalla Fincorp, you can apply for a Medical Equipment Loan for Hospital online. You must follow a few simple steps mentioned below:
- Step 1: Click on the ‘Apply Now’ button.
- Step 2: Fill in the required details on the loan application form.
- Step 3: Upload necessary documents.
On successful verification, the loan amount will be disbursed into your bank account instantly.
Frequently Asked Questions
If you run a hospital, you would need the best medical equipment and infrastructure to provide quality healthcare services to patients. With Medical Equipment Loan, you can purchase new medical equipment, upgrade the infrastructure, or expand your services. You can get up to ₹10 Crore loan at a competitive interest rate starting at 9.99% p.a. from Poonawalla Fincorp.
You can avail of a Medical Equipment Loan for Hospital from Poonawalla Fincorp for a maximum duration of 84 months. The extended repayment period ensures that you have enough time to pay off the dues without facing any financial burden.
All medical practitioners can take advantage of this loan to expand their hospitals. Also, the hospitals registered as businesses are eligible for Medical Equipment Loan for Hospital.
At Poonawalla Fincorp, we have minimal documentation process. This allows you to avoid dealing with a lot of paperwork. You only need to submit a few basic documents, including:
- KYC Documents: Government-issued IDs such as PAN Card, Aadhaar Card, Passport, Driving Licence and Voter ID (for self-employed individuals). Firm/Company PAN Card, and other Applicable Registrations (for Firm/Company).
- Bank Account Statement: Bank account statement for last six months
- Qualification Documents: Degree Certificate and Certificate of Practice
Applying for a Medical Equipment Loan for Hospital with Poonawalla Fincorp is hassle-free. You can apply for the loan online and get quick approval. Besides, you can enjoy a range of other benefits, including:
- High loan amount of up to ₹10 Crore
- Minimal documentation
- Zero hidden charge
- Flexible EMI option
With Poonawalla Fincorp, you can apply for a Medical Equipment Loan for Hospital online. You must follow a few simple steps mentioned below:
- Step 1: Click on the ‘Apply Now’ button.
- Step 2: Fill in the required details on the loan application form.
- Step 3: Upload necessary documents.
On successful verification, the loan amount will be disbursed into your bank account instantly.
*Terms & Conditions Apply
