Get a Loan to Purchase Medical Devices at Competitive Interest Rates
Upgrade your medical services with a Medical Equipment Loan at competitive interest rates and EMIs tailored to fit your monthly budget. Apply for our loan and enable your dreams without any hidden charges.
Interest Rates
Get a Medical Equipment Loan at an interest rate starting at 9.99%* p.a. Enjoy lower monthly payments and streamline your budget.
Processing Fee
Pay a nominal processing fee. Skip the hefty charges and secure funds for your Medical Equipment purchase with ease.
Foreclosure Charges
Foreclose your loan before the due date and reduce your debt burden. Pay 0%* foreclosure charges by paying from your own sources.
Other Charges
Poonawalla Fincorp focuses on providing 100% transparency about fees and charges. Get a complete breakdown of other charges on our tariff sheet document.
Interest Rate and Charges for a Medical Equipment Loan
Meet your medical equipment needs with our Medical Equipment Loan at competitive interest rates and nominal charges:
Default Charges: Penalty will be charged for nonpayment of EMI amount and for non-compliance of material terms and conditions, as more particularly specified at Default Charges.pdf
*T&C Apply
Things to Know About Medical Equipment Loan Prepayment
One of the smartest ways to reduce your monthly EMI obligations is to prepay a loan. However, you must remember the following things before prepaying a Medical Equipment Loan:
- Prepay the loan amount with your own funds.
- Refer to the EMI schedule for the outstanding amount and prepay accordingly.
- Prepay the loan only if you can afford to make a lumpsum payment.
- With Poonawalla Fincorp, you don’t incur any prepayment charges when paying with your own sources.
Medical Equipment Loan Foreclosure Guidelines
Foreclosing a loan means paying off the outstanding amount in a single payment. Like prepayment, foreclosing the loans allows you to save a significant amount on interest payments. However, before you foreclose a Medical Equipment Loan, consider the following guidelines:
- Do a thorough cost-benefit analysis to find out how much you will save. You can use the online calculators to get accurate results.
- Assess your current financial situation to know if you can afford to foreclose the loan and its impact on your medical practice.
- There are no foreclosure charges if you pay with your own sources. However, 4% charges are levied if paid from other sources.
Features and Benefits of Medical Equipment Loan
- Higher Loan Amount: Get a higher loan amount of up to ₹10 Crore.
- Flexible Repayment Tenure: Repay the loan amount flexibly with a repayment tenure of up to 84 months.
- Competitive Interest Rate: Enjoy attractive interest rates starting at just 9.99%* p.a.
- Minimal Documentation: Submit only the basic required documents to apply.
- Quick Approval: Get a quick approval on your Medical Equipment Loan.
- No Hidden Charges Enjoy 100% transparency from application to disbursal.
Apply for a Medical Equipment Loan in Just 3 Steps
Click on ‘Apply Now’
Tap the "Apply Now" button to initiate your application.
Enter Details
Enter your personal, contact, and technical details of the medical equipment.
Upload Documents
Upload the necessary documents for quicker approval.
On successful verification, the loan amount will be disbursed into your bank account instantly
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medical equipment loan11 Nov 2024| 5 min -
Frequently Asked Questions
We offer Medical Equipment Loans to all healthcare practitioners, owners, partners, and proprietors who wish to upgrade their equipment or buy new ones.
At Poonawalla Fincorp, you can get a Medical Equipment Loan of up to ₹10 Crore to finance your medical equipment needs. Final loan amount is decided as per your credit profile and existing monthly obligations.
You can calculate your loan EMI amount with the help of our EMI calculator for medical equipment financing by entering your loan amount, tenure, and interest rate. Once you have entered all the details, your principal amount and interest payable will be visible on your screen.
There are no charges or penalties applicable to foreclosure payments for a Medical Equipment Loan if paid from your own sources. However, a foreclosure charge of 5% is levied if paid from other sources.
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A friend in need, is a friend indeed. Poonawalla fincorp has been like one of those friends for me, who has supported me in my journey. With no hidden charges and no prepayment charges, the company has provided me with the adequate funds I needed for me professional practice. From the loan application process to the disbursal of funds, I did not face any problems. My experience was hassle-free and smooth. Not just me, all my fellow professionals and friends have had a wonderful experience with Poonawalla Fincorp’s Professional Loan.
I am practicing Chartered Accountant (CA) based out of Hubli. There were working capital issues that i was facing like upgrading my firm’s overall infrastructure, hiring well-qualified staff and digitization. Poonawalla fincorp hab been of great support when it comes to funding these requirements. I’ve got one of the best interest rates available in the market, my documentation process was fast & hassle-free. and the digital application process made it very simple to get a Professional Loan as a CA. I recommend to CAs to consider Poonawalla Fincorp for their working capital or any other funding requirements.
I run a chain of farmacy stores with 5 branches in pune. With the growing polpularity of home delivery, my customers were expecting the same from me as well. However, the extra capital requirement made it difficulf for me to hire delivery persons. With Poonawalla fincorp’s Business loan, I am now able to compete with online pharmacy retailers, manage working capital and upgrade my system. My customers have grown 50-60%. The loan applicatipn process is digital, simple and speedy. I was delighted to get my loan amount disbursed quickly, allowing me to upgrade my operationg seamlessly.