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Key Features & Benefits of Medical Equipment Loans

  • High Loan Amount: Get up to ₹5 Crore to finance high-end medical equipment.
  • Low Interest Rates: Competitive rates starting from 8.50% p.a.
  • Flexible Loan Tenure: Choose repayment periods of up to 7 years.
  • Fast Processing & Disbursal: Get funds within 48-72 hours.
  • 100% Financing: No need for a large upfront payment; avail full equipment cost financing.
  • Collateral-Free Loans: No need to pledge additional security for select loan amounts.
  • Tax Benefits: Avail deductions on interest paid under business expenses.
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Who Can Apply for a Medical Equipment Loan?

This loan is ideal for:

  • Doctors, Dentists, and Surgeons looking to upgrade their medical practice.
  • Hospitals, Clinics, and Diagnostic Centers needing advanced equipment.
  • Pathology Labs, Physiotherapy Centers, and Nursing Homes requiring modern technology.
  • Self-Employed Healthcare Professionals expanding their medical services.

Eligible Medical Equipment for Financing

  • Diagnostic Equipment – MRI, CT Scan, X-ray machines, Ultrasound, ECG, etc.
  • Dental Equipment – Dental chairs, scanners, X-ray units, and CAD/CAM systems.
  • Surgical Equipment – Laparoscopy instruments, endoscopes, and OT tables.
  • Patient Monitoring Systems – ICU monitors, ventilators, and infusion pumps.
  • Laboratory Equipment – Blood analyzers, centrifuges, and PCR machines.
  • Physiotherapy & Rehabilitation Devices – Laser therapy and traction units.
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Eligibility Criteria for Medical Equipment Loans

  • Age: 25 to 65 years.
  • Profession: Practicing doctors, dentists, hospital owners, or healthcare professionals.
  • Business Vintage: Minimum 2 years of medical practice or hospital operation.
  • Credit Score: Preferably 700+ for better loan terms.
  • Income Proof: Minimum annual revenue of ₹10 lakh (varies by lender).

Required Documents for Medical Equipment Loan Application

  • KYC Documents: Aadhaar Card, PAN Card, Passport, or Voter ID.
  • Professional Proof: Medical degree, practice license, or hospital registration certificate.
  • Income Proof: Last 2 years' ITR, Profit & Loss statements, and Bank Statements.
  • Equipment Invoice or Quotation: From the supplier/manufacturer.
  • Business Registration Proof: For hospitals and diagnostic centers.

Why Choose Login to Loans for Medical Equipment Financing?

  • Tailored for Healthcare Professionals: Exclusive financing for doctors, clinics, and hospitals.
  • Low-Interest Rates: Cost-effective EMIs with competitive pricing.
  • Fast Loan Approval: Quick disbursal to ensure smooth equipment procurement.
  • No Hidden Charges: Transparent processing with no surprise fees.

How to Apply for a Medical Equipment Loan?

  • Step 1: Check your eligibility and loan amount required.
  • Step 2: Submit required documents for verification.
  • Step 3: Get loan approval and sign the agreement.
  • Step 4: Loan amount is disbursed directly to the equipment supplier.
  • Step 5: Start repaying through affordable EMIs.

Frequently Asked Questions About Medical Equipment Loans in India

What is a medical equipment loan?
A medical equipment loan is a type of financing designed for healthcare providers, such as doctors, hospitals, clinics, diagnostic centers, and nursing homes, to purchase or upgrade medical equipment like MRI machines, X-ray scanners, ultrasound machines, and dental chairs.
Who is eligible for a medical equipment loan?
Individuals: Self-employed doctors (e.g., MBBS, BDS, Ayurveda, Homeopathy, Unani) aged 25–65 years.
Businesses: Clinics, hospitals, nursing homes, diagnostic centers, and private limited companies with 2–3 years of operation.
Requirements: Good credit score (usually >650), 2 years ITR (for loans >₹60 lakh), medical registration certificate, and 6–12 months of bank statements.
What types of equipment can be financed?
Diagnostic tools (e.g., MRI, CT, ultrasound, X-ray), therapeutic devices (e.g., cath labs), life support equipment, dental chairs, and even high-end refurbished or imported medical devices.
What are the loan amounts and repayment terms?
Loan Amounts: ₹1 lakh to ₹100 crore depending on profile and lender.
Tenure: 12 to 84 months (some up to 120 months).
Moratorium: Upto 6–18 months as per lender policy.
What are the interest rates?
Interest starts around 9.5% per annum and depends on the loan amount, applicant profile, and lender. Some banks use monthly reducing balance methods to calculate interest, reducing the effective cost over time.
Is collateral required?
Collateral-Free: Loans up to ₹2–5 crore (e.g., Axis Bank, BOB) often don’t require collateral.
Collateral-Based: Larger loans may need 25% security or property, though the equipment itself can serve as primary collateral.
What documents are required to apply?
KYC: PAN, Aadhaar, passport, voter ID, driving license.
Business Docs: 2 years ITR, audited balance sheet, P&L statements, and bank statements.
Equipment Details: Proforma invoice and technical brochure.
Qualification Proof: Medical degree and registration certificate.
Business Proof: Partnership deed or Udyam Registration Certificate.
What are the benefits of medical equipment loans?
Preserve Cash Flow: Spread out payments.
Access Advanced Technology: Upgrade to the latest equipment.
Tax Benefits: Deductions available under tax laws.
Flexible Repayment: Custom tenures (up to 120 months).
Fast Disbursal: Processing in 24–72 hours with some lenders.
Are there any additional fees or charges?
Processing Fees: Typically 2% (may vary).
Prepayment Charges: May apply depending on lender policy.
Default Charges: Penalties on delayed EMIs.
Transparency: Most lenders disclose all charges upfront.
How can I apply for a medical equipment loan?
Online: Apply via lender websites (e.g., Bajaj Finserv, Piramal).
In-Person: Visit bank branches or contact DSAs.
Provide personal/business details, equipment info, and documents. Loan processing typically takes 3–7 days.
Can I lease equipment instead of buying?
Yes, leasing is an option for those preferring flexibility. You rent the equipment and may purchase it later. Companies like Midland offer 100% financing leasing options up to $500,000.
Are there government-backed loans or subsidies?
India: SBI provides loans under CGTMSE/CGSSI for up to ₹2 crore. The PLI scheme offers 5% incentives on incremental sales for eligible medical device manufacturers.
U.S.: SBA loans support small healthcare businesses. Always check with your local bank for available schemes.

List of Medical Equipment Loans Banks in India