Medical Equipment Loan

Overview

Unlock the potential of your healthcare facility with our Medical Equipment Loan. Designed for doctors, diagnostic centres, specialty clinics, nursing homes, and small to medium hospitals, our financing solutions empower you to acquire the latest medical technology. Whether you need   ECG machines,   MRI scanners,   CT scanners,   ultrasound machines, or advanced equipment like   PET CT scans   and   linear accelerators we have you covered. Our loans cater to both Indian and imported high-end medical devices, enabling your practice to excel in fields such as radiology, cardiology, gynaecology, and ophthalmology.

Equip your facility with state-of-the-art technology and elevate your patient care with our tailored financing options to cater specific needs of the healthcare sector, our Medical equipment loan helps you to set up or upgrade your existing health care facility with modern medical equipment.

Features & Benefits of Medical Equipment Loan

Type Medical Equipment Loans
Nature of Facility Term Loan
Purpose For purchase of Medical Equipments
Funding Range Minimum: Above Rs. 3 lacs
Maximum: Upto Rs. 10 cr
Features Doorstep service, Minimum documentation & Quick processing
Pricing Competitive pricing linked to External Benchmark
High loans to Value 85%
Repayment period Loan is repayable in 1 – 7 years (including moratorium)
Balance Transfer/Top-up Takeover of Existing loan with additional finance
Refurbished Equip. Finance Loan facility also available for refurbished medical equipment through IBL authorised vendors

Eligibility Criteria of Medical Equipment Finance

Eligibility of Medical Equipment Loan
  • individuals/Self-employed doctors, Proprietorship firm, Partnership and Pvt. Limited companies
  • Hospitals, Laboratories, Diagnostic Centre, Nursing Home, Clinics-Self Employed Doctor
  • ITR/financials - Requirement based
  • Age of applicant/partner/Director- 25 to 70(at end of term)
  • Clean CIBIL record
  • Residence Stability- Owned or 3years(if rented)
  • Office Stability- Owned or 2years(if rented)
Documents for Self Employed Individuals
  • Proof of Identity:
    (Any One): (Passport Copy/ Voter ID card/ PAN Card etc.)
  • Proof of Income:
    • Income Tax Returns for the last two years along with computation of income, Bank Statement for last 6 months.
    • Partnership Firms: Income Tax Returns for the last two years along with the audited / certified balance sheet and P & L account with all the schedules & Annexure, Bank Statement for last 6 months.
    • Limited Companies: Income Tax Returns for the last two years along with audited balance sheet and
    • P & L account with all the schedules & Annexure, Bank statement for last 6 months.
    • In case of audited financial, ITR is not required.
Repayment
In case applicant has availed any loan, repayment for the last 12 months required - or else certificate from the existing bankers of A/c's being satisfactory or repayments to be evidenced through matching of bank Statements and repayment Schedule
Medical Equipment Loan Documentation
  • Proof of Years in Business
    • Self-Employed: Affiliation Certificate with local medical associations / certificate from reputed medical house from the same city.
    • Partnership Firms: Affiliation certificate with local medical associations / certificate from reputed medical house from the same city, Copy of financial / ITR being filed for more than 3 years before.
    • Limited Companies. Affiliation certificate with local medical associations / certificate from reputed medical house from the same city, Copy of financial / ITR being filed for more than 3 years before.
  • Proof of Residence (Any One):
    (Ration card/ Telephone Bill/ Electricity Bill/ Rental agreement / Passport copy/ Bank Passbook or Statement)
  • Office Ownership Proof (if applicable) (Any One)
    • Self-Employed: Property Tax Bill, Municipal charges Bill, Electricity Bill, Sale Agreement, Share Certificate from the society.
    • Partnership Firms: Property Tax Bill, Municipal charges Bill, Electricity Bill, Sale Agreement, Share Certificate from the society.
    • Limited Companies: Property Tax Bill, Municipal charges Bill, Electricity Bill, Sale Agreement Share Certificate from the society
  • Copy of Last Degree Certificate
    • Self-Employed: Mandatory
    • Partnership Firms: of the promoter doctor
    • Limited Companies: of the promoter doctor
Equipment Details
  • Complete details of the equipment proposed to finance with the technical brochure. Performa invoice to be submitted, with all details & inclusive of excise & taxes.
  • In case of the imported equipment's, the terms of delivery to be mentioned too.
  • Undertaking from the manufacturer / registered dealer for technical / software up gradation till the completion of the loan tenor will be taken on best effort basis.
Other
  • Self-Employed:
    Repayment (if Any), Photograph, and Performa Invoice
  • Partnership Firms:
    Partnership Deed, Photograph of Authorized Partner, Performa Invoice
  • Limited Companies:
    Memorandum of Association / Articles of Association, Photograph of Authorized Director, Performa Invoice.
  • Photograph:
    Mandatory.
  • Application form:
    Duly completed and signed by the applicant / authorized signatory for the applicant.

Medical Equipment Loan Fees & Charges

DESCRIPTION CHARGES
Rate of Interest Interest Rate linked to MCLR or EBLR based on customer classification
Non-Refundable loan Processing Charge Upto 2% of Loan amount
Prepayment Fees (Pre-closure or Part Payment) 4% plus applicable taxes
Delay EMI Payment Charges 2% + GST on total overdue (P+I) or 100 + GST whichever is higher (Cash basis - non Ageing / on non-payment within 3 days of Due date)
No Due Certificate/ No Objection Certificate (NOC) NIL
Duplicate No Due Certificate/ No Objection Certificate (NOC) Rs.200/- plus applicable taxes
Charges for dishonor of PDC / ECS /SI Rs. 500/- plus applicable taxes
PDC Swapping/Repayment mode change Charges Rs. 500/- plus applicable taxes, per event
Duplicate Statement Charges Rs. 500/- plus applicable taxes, per event
Loan Cancellation Charges Rs. 5000/- plus applicable taxes plus interest for period of loan utilized
Duties, Taxes As per state/Applicable laws
Legal Charges As per actuals wherever applicable

5 Lacs – 10 Cr

Loan Amount*
  • *Loan Amount will be range 5 Lacs to 10 Cr

1% onwards

Processing Fee**
  • **Processing Fee – 1% onwards*

11 % onwards

Rate of interest***
  • ***Rate of interest will be 11 % onwards

Interest Rates on Medical Equipment Loan

Interest Rate – Q2 2024-25
Minimum Maximum Mean
9.00% 11.1% 9.46%

 

APR – Q2 2024-25
Minimum Maximum
9.00% 11.1%
Pre-approved offer IndusInd Bank existing customer

If you are
an existing customer

Click here to check pre-approved offer

CLICK HERE

IndusInd Bank Other Loan Product

Gold Loan
Gold Loan

We know your gold is worth a thousand sentiments and opportunities. Presenting IndusInd Bank Gold Loans - Smart way to fund your dreams.

Key Feature and Benefits
  • Minimum Documentation
  • Instant Disbursal
  • Tenure: 3-24 months
  • Upto 10 Lakh Loan
Home Loan
Home Loan

Our home loan is designed customisable for our customers to make their dream of buying home comes true.

Key Feature and Benefits
  • Wide range of home loan products
  • Doorstep service with fast & easy processing of your loan application
  • Transparent and no hidden charges
  • Simplified documentation
Loan against Property
Loan against Property

Apply for IndusInd Bank Loan against Property to meet your business or personal needs which helps you unlock the hidden value of your property.

Key Feature and Benefits
  • Loan Against Residential or Commercial Property
  • Loan for Purchase of Commercial Property
  • Additional Finance
  • Balance Transfer
  • Lease Rental Discounting

IndusInd Bank Insurance Product

Motor Insurance
Motor Insurance

Protect your vehicle against unfortunate situations with IndusInd Bank’s Motor Insurance which offers extensive coverage.

Life Insurance
Life Insurance

Secure the future of the ones you love, in more ways than one with IndusInd Bank’s Life Insurance Plans.

Health Insurance
Health Insurance

Watch over your loved ones from miles away with IndusInd Bank’s Health Insurance Plans.


Terms and Conditions apply. All Loans at the sole discretion of IndusInd Bank Ltd.

 

FD Rate FD Rate
FD Rate
Regular Fixed Deposit

up to 7.75% interest p.a

Senior Citizen

up to 8.25% interest p.a

BOOK FD