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A medical equipment loan is taken by healthcare institutions for funding their capital requirements. The purpose of this loan is to fund healthcare businesses to start new hospitals and clinics, expand current facilities and upgrade existing medical equipment.

Many leading banks and NBFCs offer loans for medical equipment in India. The loan is generally extended as a term loan and the loan amount is usually a huge sum. This is because buying medical equipment is an expensive affair and to get medical machines armed with advanced technology it will cost even more.

For instance, if you want to upgrade your existing CT scan machine to one with upgraded technology it could cost you as much as ₹1 Crore.  Even if you are picking up a refurbished one it can cost you as much as ₹85 lakh.

Benefits of a medical equipment loan

If you want to buy brand-new medical equipment to start a health center or a dental clinic or even upgrade the existing medical equipment you need to have a significant sum of money ready. A medical equipment loan program can help you shoulder the cost of buying the machine easily.

Here are the benefits of availing a loan for buying medical equipment:

  • Helps small and medium-sized clinics, diagnostic centres and private hospitals to gather funding for new medical equipment.
  • Since the loan amount is generally a huge sum of money most leading financial institutions offer loans against medical equipment at competitive interest rates.
  • Individual healthcare entrepreneurs and companies can ask for loan amounts as high as ₹20 crore depending on financial institutions.
  • Medical equipment loans can also be availed for small loan amounts even as low as ₹1 lakh. Many institutions give these small business loans without demanding collateral.
  • Customised loan solutions are offered by banks which can be tailored as per the needs of the healthcare business
  • The repayment tenure is also flexible and can be adjusted according to the preferences of the healthcare company.

Applying for medical equipment loans online is hassle free and easy as you can finish the entire process digitally. Some digital platforms also help you to get a loan that perfectly matches your requirement after comparing a bunch of loan products.

Tata nexarc’s Business Loans is one such platform that hosts trusted lenders from across India and help small businesses get all types of business loans at reasonable interest rates. You can easily apply for collateral-free business loans of up to ₹30 lakhs and get a loan offer within 5 minutes.

Who can apply for a medical equipment loan?

A medical equipment loan can be applied for by:

  • Doctors and dentists who would like to become individual healthcare entrepreneurs.
  • Partnership firms, private companies, trusts, proprietorships, etc.
  • Specialty clinics – Derma and dental clinics
  • Diagnostic centres
  • Endoscopy centre
  • Birthing centres
  • Pathology lab
  • Dialysis centres
  • IVF centres
  • Eye care centres
  • Super specialty and specialty hospital
  • Nursing homes
  • Medical equipment and pharmaceuticals manufacturers

The loan amount granted to doctors is typically higher than the amount granted to a dentist or a company.

Eligibility criteria

The eligibility criteria for business loans for purchase of medical equipment vary according to the terms and conditions of financial institutions. Given below are some of the common eligibility criteria for getting a medical equipment loan sanctioned:

  • Doctors with a minimum qualification of MBBS or BDS degree
  • Doctors with specialisations in Homeopathy, Unani and Ayurvedic medicine
  • Age limit for individual applicants should be between 25 and 65 years
  • A company applying for the loan should have been in operation for a minimum of 3 years
  • The promoters of a company applying for the loan should have a minimum qualification of MBBS or BDS.
  • Some financial institutions may ask for a minimum 3 years of experience running a medical facility to individual applicants
  • Leading banks may also ask the individual applicants and promoters of companies to be part of medical councils or associations.

Documents required

Documents required to apply to may be different for each bank but some of the common ones are:

Business Loan
  • KYC documents including Aadhar card and PAN card
  • Bank statements for the last 12 months. It could be of an account with any scheduled commercial bank, which holds most of the banking transactions done by the individual.
  • In the case of a company, income tax returns of the last two years along with audited balance sheets and profit and loss account
  • Payment details of any loan that you have been repaid over a period of 12 months or more
  • Private limited companies applying for a loan will need to provide an MOU or the deed of partnership.

Top medical equipment loan products in India and their interest rates

There are many financial institutions offering medical equipment loan products. Let us have a look at the popular loan products in India and compare medical equipment loan interest rates:

Loan product Loan amount Interest rate p.a Tenure
SBI – Healthcare business loan ₹10 lakh to ₹20 crore Starts at 10.10% 1 – 12 years
ICICI – Healthcare equipment loan Up to 90% of the equipment cost 8.5% – 13.5% 1 – 7 years


Bajaj Finserv – Medical equipment finance ₹1 lakh to ₹6 crore 7% – 14% 1 – 7 years


Poonawalla Fincorp – Medical equipment loan Up to ₹10 crore Starts at 9.99% 1 – 7 years


Tata Capital – Equipment finance ₹3 lakh to ₹ 50 lakh 12% – 20% 1 – 3 years
IndusInd Bank- Medical equipment loan ₹3 lakh to ₹10 crore


8.5% – 12% 1 – 7 years


Also read: Startup business loans by government: Know eligibility and how to apply

How to apply?

To apply for a medical equipment loan easily, simply visit websites of leading banks and click on their business loans sections. Most banks have loan products that finance equipment and machinery purchases.

You can easily find the application form on the webpage along with eligibility criteria and other details. You can also visit your nearest bank to find out about their offerings and apply for the loan.

You can also simply type medical equipment loan near me on the google search bar to find details of the most popular medical equipment loans in India that is closest to your current location. This search will give information on loan offerings, interest rates and tenure to help you easily compare products and find the loan that matches your requirements.



What is the maximum loan tenure for medical equipment loan?

The loan repayment period would differ from lender to lender but generally it is between 1 to 7 years.

What is the loan limit for loan against medical equipment?

Individual and non-individual applicants can get up to ₹20 crore depending on the lender. Doctors get more loan amount compared to dentists and companies.

Who is eligible for a medical equipment loan?

Medical equipment loans can be availed by doctors with an MBBS or BDS degree. Homeopathic, Unani and Ayurvedic medical practitioners can also apply. Companies including public and private limited companies starting healthcare centres and hospitals are also eligible.

Priyanka Babu

Priyanka is a seasoned content marketing professional with more than 6 years of experience crafting various forms of business and technology sector content. Her insightful writing tackles critical issues faced by small-scale manufacturing businesses. Priyanka’s clear and concise communication empowers businesses to make informed decisions and thrive in today’s dynamic business environment.