How Can A Doctor Apply for A Medical Equipment Loan in India?

If you are a doctor and want your practice to thrive, it is important for you to equip your clinic with the latest equipment. This way, you will not only be able to provide the best services to your patients. But it may even spread the good word about your services and increase footfalls.

Buying the latest equipment is a big expense and requires a huge amount of funds. If you are short of money, then you don’t need to suffer. It is because you can always apply for medical equipment finance from leading lenders and get a large amount. Read on and know more about the medical equipment finance and the steps to apply for it!

Loan for equipment purchase – Features and benefits at a glance

A significant loan amount

Applying for medical equipment finance can help you get an amount as high as up to Rs.150 lakh from reputed lenders in India. You should be able to avail of an amount as per your eligibility and the policies of your lenders.

Quick approval

Applying for medical equipment finance does not mean waiting endlessly to get the loan approval. If you have the required eligibility and can furnish the required loan documents, your medical equipment finance application may be sanctioned faster. Once you have the loan approval, it will also not take much time to get the sanctioned amount into your bank account by renowned lenders.  

Easy to meet eligibility criteria and documents

Leading lenders don’t complicate their medical equipment finance facility for eligible doctors. Hence, you only need to meet a few basic eligibility criteria and submit a few documents.

No collateral needed

Most of the time, medical equipment finance facilities being offered by known lenders in India may not need you to pledge any collateral. If you are eligible, you can get the loan approval with ease.

What are the steps to apply for the loan for equipment purchase?

Applying for the loan for equipment purchase is easy if you can follow a few steps. Let’s take a look:

  1. Land on the website of the lender that you want to apply for the medical equipment finance.
  2. Click on the ‘Apply Now’ button and a new online loan application page will open.
  3. You should fill out the online medical equipment finance application form using your details as asked by your respective lender.
  4. Once you submit the online form, you will receive a confirmation call from the representative of the lender within 24 hours. This way, you will be able to know about your exact approved loan amount.
  5. You will be asked to submit the required documents with the creditor’s agent who will connect with you to that.
  6. After 24 hours of the submission of the medical equipment finance document, you will be able to receive the money into your bank account.

It is a standard procedure to apply for medical equipment finance online. It may differ from lender to lender. Before going ahead with your loan application, you should read carefully about the eligibility criteria and furnish the documents required by your lender to avoid any rejection.

Bajaj Finserv presents pre-approved deals to its existing customers on various financial products such as business loans, home loans, personal loans and more. These customized offers simplify the loan processing and make it faster.

You can share your basic details like your name and mobile number to unlock your pre-approved loan offers right away.