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Project Financing- Medical Equipment


Medical Equipment Financing is the loan provided for the purchase of medical equipment by creating hypothecation  (HP) of same machinery.

Features

  • Fixed rate of interest
  • Term loan on medical equipments.
  • Loan ranging from 5lakhs – 20 crores.
  • Hypothecation of machines.
  • Tenor 12- 84 months
  • LTV Max 85%
  • Quick turnaround time
  • Customized offerings to suit customer needs.
  • Flexibility in tenor and repayment options.

Advantages

  • Quick turn-around time
  • Professional and transparent approach
  • Part payment facility also available.

Eligibility

Minimum Age

  • 25 years for Doctor
  • 21 years for other partners/shareholders

Maximum Age

  • 65yrs

Experience

  • Min 3 years for MD/MS/MDS/PG.
  • Min5 years for MBBS/BDS

Service Charges

Processing Fees

From 1% to 2% of the Loan Amount depending upon case to case basis + applicable taxes

Other Charges

Other charges including but not limited to statutory charges such as stamp duty on documentation, Monitoring and Inspection Charges and Quality checking charges etc., as applicable, and any other charges as communicated to the customer from time-to-time by SMC FINANCE are to be payable by the client.

Interest Rate

13%-17%

Foreclosure Charges

2% plus applicable taxes

Documentation

  • Application form.
  • Loan agreement.
  • Mortgage Deed.
  • FATCA Declaration.
  • Basic KYC Documents.
  • Financials.
  • Income documents & Bank statement.
  • Copy of property papers to be mortgaged.

Terms & Conditions

  • The property must be free from any encumbrances.
  • The property must be mortgagble.
  • The loan amount is subject to the valuation of the property.
  • The loan funding depends upon validity of title documents of the said property and its current market value.
  • The Loan to value on residential Property is upto 60%, against commercial property is upto 50% and against industrial / plots (only residential or commercial) is upto 40%.

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Hours & Info

(+91)9971486715
10 am- 9 pm
November 2018
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