Banks are targeting top- notch doctors as new segment of customers by offering them attractive medical equipment loans. This loan is primarily taken to either purchase new equipment or taking over the existing one.
Loans are available starting from Rs. 10000. There is no maximum amount of loan. It is generally decided after considering the financial background of the customer, his repayment capacity, tenure of the loan etc. Loan is given maximum up to 85% of the value of the medical equipment. The loan is repaid through Equated Monthly Installments or EMI. Loan is repaid within a tenure of 1 to 5 years.
Most banks charged according to the existing market rates. These rates are highly competitive. The rate of interest can either be taken on fixed or fluctuating basis.
Loan can be applied for by filling the application form either in person or online. Banks normally charge around 2% of the total loan amount as the processing fee.
ICICI Bank - Loan For Construction Equipment
HDFC Bank - Purchase Of Construction Equipment
Bank Of Baroda - Equipment Purchasing Schemes
* Terms and conditions may vary from bank to bank.