Healthcare / Medical Finance
Features and Benefits
- Customised and structured solutions
- Tenures that range between 12 to 84 months
- Competitive Solutions at competitive prices
Types of Loans
- Asset / Medical Equipment Finance
- Infrastructure Loan
- Balance Transfers of existing Term Loans or Working Capital
- ME-OD Facility
- Working Capital Finance
What are the features and benefits of Healthcare Finance?
Listed below are the features and benefits:
- We offer customised and structured solutions within regulatory norms based on client requirements.
- You can get a complete solution for your healthcare industry needs with Equipment Finance, Project Finance, Working Capital Limits, BGs, Letters of Credit, Buyers Credit, FCNR funding, etc.
- Our tenures range between 12 to 84 months as per project requirements.
- We have provisions for comprehensive solutions at a competitive price, which offer you the opportunity for balance transfers from other financial institutions.
What types of loans are offered?
The types of loans offered are:
- Asset / Medical Equipment Finance: For the purchase of standard medical equipment including CT Scanners, Colour Dopplers, Sonography Machines, MRI Machines, X-Ray Machines and other medical equipment.
- Infrastructure Loan: For the purchase/construction of new premises to set up of Clinics, Diagnostic Centres or Hospitals.
- Balance transfer of existing Term Loans or Working Capital: To help improve overall business efficiency.
- Merchant Establishment - Overdraft (ME-OD) Facility: Healthcare customers can avail OD limits for their Working Capital requirements against total Credit Card swipes made per month at HDFC Bank Credit Card terminals installed in their facility.
- Working Capital Finance: We provide working capital facilities by way of Cash Credits, Overdrafts or Demand Loans to fund day-to-day operational requirements like the purchase of consumables, maintenance expenses and payment of salaries, etc.
What are the eligibility criteria for a Healthcare Loan?
To be eligible for a Healthcare loan you must belong to one of the following categories:
- Speciality or Super Speciality Hospital
- Nursing Home
- Diagnostic Centre
- Pathology Lab Centre
- Speciality Clinics (like Skin and Dental Clinics)
- Dialysis Centre
- Endoscopy Centre
- IVF Centre
- Educational Institute - Medical/Paramedical College, Dental College
- Large Medical Equipment Dealer
- Pharmaceutical Manufacturer
In addition you need to:
- Have a minimum of 3-5 years of continued occupancy at your present residence/ office.
- Carry a minimum experience of 3 years in running a healthcare business.
- Possess repayment track records in serving any loan for at least 12 months.
- Provide banking details of at least 12 months with any schedule commercial bank. The account needs to carry your major banking transactions.
Any default history of borrower or co-applicants is unacceptable.
What are the documents required?
The applicant needs to possess the following documentation*:
- Last 3 years ITR with Balance Sheet and Profit & Loss Account for all individual promoters (If a Pvt. Ltd. / Partnership, then applicable for company as well).
- Last 12 months bank statements for all individual promoters (If firm, then applicable for the company as well).
- Copy of Memorandum of Association (MOA) for Pvt. Ltd. Company or Copy of Partnership Deed for a Partnership Firm.
- KYC documents for all promoters/firms.
- Track records of previous/ running loans.
- Details about the funding requirement/ project reports.
- Other documents as per funding needs.
*Documents required can vary based on the funding requirement of the client.
For further details you can contact our phone banking numbers
Alternatively you can mail us at following email IDs:
What is Healthcare finance?
Healthcare finance is a product launched by the bank to provide finance to Doctors, Hospitals, Diagnostic Centres, Nursing Homes, Trust, Societies, Limited Companies, etc. for the purchase of medical equipment, for the purchase/construction of new premises to set up of Clinics, Diagnostic Centres and Hospitals and also for the expansion of existing premises.
Do I need to open an account with HDFC Bank to service the loan?
Yes, it is mandatory to open an account with HDFC Bank to service the loan.
What is the process to get a Healthcare Finance Loan?
You will need to submit the relevant pre-sanction documents (2 year financial records including ITR, 6 months bank statements, proforma invoice, ID proof, academic documents). Once these documents are received at the local office, the case will be appraised further.
What is the quantum of loan sanctioned?
In medical equipment finance a maximum of 80% of the quotation value/proforma invoice is sanctioned. However, it will also depend on the strength of the case. In Infra Finance and Working Capital cases, the quantum of the loan depends on the merit of case.
How do I repay the loan?
You can repay the loan through Post-Dated Cheques (PDCs), Electronic Clearing System (ECS) or Standing Instructions (SI).