Medical Equipment Loan For Laboratory

Apply for a Medical Equipment Loan for Laboratory

Up to ₹10 Crore | Quick Approval | Flexible EMIs

Expand your healthcare business with the best-in-class equipment and latest devices. Get a Medical Equipment Loan for laboratory and restock syringes and test tubes or buy new or upgrade existing equipment like centrifuge, microscope, etc.

Get a Medical Equipment Loan of up to ₹10 Crore from Poonawalla Fincorp with minimal documentation, quick approval, and flexible EMIs - time to turn your aspirations into achievement. Apply now!

Medical Equipment Loan for laboratory helps finance the purchase of any equipment or machinery needed for a medical laboratory. Apply for this loan if you need to:

  • Expand an existing laboratory.
  • Upgrade equipment in an existing facility.
  • Import the newest laboratory tools.

Our Medical Equipment Loan provides the best benefits and customer-friendly features, such as:

  • High Loan Amount – Get a loan of up to ₹10 Crore to fulfil your dreams.
  • Minimal Documentation – Forget endless paperwork. Just upload a few documents for loan approval.
  • Fast Approval and Disbursal – The online application and documentation make the approval and disbursal processes fast.
  • No Hidden Charges – All fees and charges are disclosed at the time of loan application.
  • Flexible EMIs – Repay the loan at your convenience, as the loan tenure ranges between 12 and 84 months.
  • Competitive Interest Rates – Get a Medical Equipment Loan starting at 9.99% p.a.
  • Easy Application – Just hit the ‘Apply Now' button to get started!
Medical Equipment Loan Interest Rates 9.99% p.a. onwards
Loan Amount ₹2 Lakh - ₹10 Cr
Loan Processing Fees Minimum processing fees
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 Interest 24% per annum
Repayment Instrument Dishonour Charges ₹500 per bounce plus applicable taxes
Stamp Duty At actuals
No Other Hidden Charges

To get a Medical Equipment Loan, meet a few essential eligibility criteria:

  • Age: Between 25 (at the time of application) and 65 years (at the time of maturity).
  • Citizenship: The applicant must be an Indian citizen.
  • Education: MBBS/MDS/MD/MS/BDS
  • Work Experience: Minimum 1 year of post-qualification experience and, for others 3 years of post-qualification experience.

Note: The above-mentioned Medical Equipment Loan eligibility list is indicative. Additional eligibility criteria may be required during loan processing by Poonawalla Fincorp.

To get a medical equipment loan for your laboratory, keep the following documents handy:

  • KYC Documents: PAN Card/Aadhaar Card/Driving Licence/Voter ID/Passport
  • Residence Address Proof: Electricity bill/rent agreement/passport
  • Business Address Proof: Electricity bill/rent agreement
  • Financial Document: Proforma invoice of the equipment and bank account statements for the last 6 months
  • Other Document: Certificate of professional hospital practice

Note: The above-mentioned Medical Equipment Loan document list is indicative. Additional documents may be required during loan processing.

  • Step 1: Click on the ‘Apply Now’ button.
  • Step 2: Choose ‘Applicant Type’ and fill out the required details on the loan application form.
  • Step 3: Upload the necessary documents.

The loan amount will be transferred to your bank account upon successful verification.

What is laboratory equipment financing?

Laboratory equipment financing is a secured loan explicitly granted to upgrade medical lab equipment. Medical professionals who want to improve their lab infrastructure use this loan to provide better quality services to their patients or improve their lab capacity.

Why should I take a Medical Equipment Loan for a laboratory?

Since the onset of the global COVID-19 pandemic, the need for better healthcare infrastructure has increased. Poonawalla Fincorp’s loan for laboratory equipment, also called Medical Equipment Loan, can address this situation. You can also use the loan amount to expand or improve the infrastructure in an existing lab to meet the needs of your patients.

Does credit score matter for a Medical Equipment Loan for a laboratory?

Laboratory equipment financing loans are secured loans. Having a solid credit score could be beneficial. It will improve your chances of getting a higher loan amount under favourable conditions.

What are the documents required for a Medical Equipment Loan for a laboratory?

Poonawalla Fincorp will require you to submit KYC documents, bank statements, financial statements of the previous two years and a certificate of practice to avail of the loan. Note that additional documents may be required during loan processing.

*Terms & Conditions Apply

Insightful Medical Equipment Loan Blogs Arrow Logo

Used Medical Equipment
How to Dispose Used Medical Equipment?

Disposing of medical equipment is not the same as disposing of any other type of unwanted waste. Medical equipment requires special care when disposed

Business Loan vs Medical Equipment Loan
Business Loan vs. Medical Equipment Loan: Which is Best Medical Professionals?

There are several ways to finance a business undertaking. You can ask your friends or family, you can sell equity in your business, you can talk to your bank

Contact Us logo Quick Apply CIBIL Score logo Free CIBIL Whatsapp logo Connect on WhatsApp