Eligibility for Healthcare Equipment Loan

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From day-to-day recoveries to life-changing breakthroughs, the healthcare industry is an empowering force in our society. Focused on meeting the financial needs of this sector, Kotak Healthcare Finance offers a tailored and holistic suite of innovative solutions catering to Hospitals, Laboratories, Diagnostic Centre’s, Nursing Homes, Clinic’s and Self-employed Doctor’s.

Loan amount ranging from INR 10 Lakhs to INR 10 Crores

Standard Loan to Value up to 85%

Loan tenure ranging from 12 to 84 months

Attractive rate of interest

Dedicated Relationship Managers

Quick processing

Fees & charges to avail a Healthcare Finance Loan

Nature of fees and charges	Amount of fees and charges
Processing Fee (Non-refundable)	Maximum 2% of the loan / facility amount (Plus Taxes as applicable)
Cheque dishonor Charges	INR 750/- (Plus Taxes as applicable) per instance.
Charges for Copy of any Document	INR 500/- (Plus Taxes as applicable) per instance.
Repayment Mode I Account swap charges	INR 500/- (Plus Taxes as applicable) per instance.
Charges for Duplicate NOC / No Dues Certificate	INR 200/- (Plus Taxes as applicable) per instance.
Loan cancellation charges	Loan cancellation charges – Rs 2500 + applicable taxes
Charges for copy of Credit Bureau Report (to Customer who has availed Loan /Facility from us)	INR 100/- (plus taxes as applicable) per instance for Individuals
	INR 500/- (Plus taxes as applicable) per instance for non-individuals
Repossession charges	At actuals + applicable taxes
Yard charges	At actuals + applicable taxes
Paper advertisement charges	At actuals + applicable taxes
Charges incurred in filing legal	At actuals + applicable taxes
Document Charges	INR 3000/- (plus taxes as applicable) for loans upto Rs 50 Lacs
Document Charges	INR 6000/- (Plus taxes as applicable) for loans above Rs 50 Lacs
Foreclosure/Prepayment Charges	3% of Principal Outstanding for Non-revolving and 3% of Sanctioned limits for Revolving facilities.

	For Micro & Small (MSE) Borrowers-
	· Nil charges on fixed rate loans up to 50 lakh (Original Sanctioned limit)
	· Nil charges on Floating loans
Delay or Default in Payment or where amount drawn beyond the Maximum Overdraft Limit and/or the Drawing Power	Amounts standing unpaid on respective due dates shall attract penal charge at 8% per annum (to be charged for actual no. of days) on overdue amount plus applicable taxes.

Charges for Amortisation Schedule/ Account Statement	Free once in a Financial Year. Thereafter, INR 500/- (plus taxes as applicable) per instance
Charges for Interest Certificate	Free once in Financial year. Therefore, INR 250/- (plus Taxes as applicable) per instance.
Notes:
· Delay/ Non-Creation of Security in favor of the Bank by the Borrower/Security Provider means:
· The term non-creation of security shall mean failure of the Borrower/Security Provider to create security in such form and manner as per the agreed terms mentioned in Sanction letter /Facility letters or Facility /Loan Agreements or any other document/instrument to secure the loan/financial facility availed from the Bank and shall also include Non-submission of NOC or Permission to Mortgage from any person/entity/ competent authority as prescribed by the Bank as well as Non-submission of Pari passu letters from other lenders.
· In addition to these charges/levies, Bank also reserves the absolute right to withdraw the limits and demand repayment of the facilities from the borrower for any breach of any of the terms and conditions prescribed in the sanction letter or any loan/security document executed in favor of the Bank
· For the sake of clarity, it is reiterated that the above list is only indicative in nature and should not be in any manner construed as an exhaustive list at any point of time.
· Stamp Duty on Loan Agreement / Overdraft Agreement, Guarantor Agreement, etc., varies from State/UT to State/UT. Stamping Charges, Notarisation Charges, Charge Creation on Collateral Security, etc., as per RBI/Statutory Notifications, as applicable.
· Charges for other Services which is not specified above would be specified as applicable when the Customer applies for those Services and the same shall be payable by the Borrower. e.g. Revalidation of Sanction, Change in Collateral, Re-scheduling Loan, Change in EMI Date, Solvency Certificate Issuance Charges, etc.,
· Taxes / other statutory levies may be charged to the Borrower if applicable as per Government / RBI directives.
· Any charges are applicable subject to regulatory/statutory feasibility. Any relaxations available to specific borrower categories / groups, if any, shall be applicable to such beneficiaries.
· Bank reserves the right to modify any charges from time to time or to introduce any new charges, as it may deem appropriate and will publish them on the bank’s website (www.kotak.com).

Documents required to apply for a Healthcare Finance Loan

Document Type	Details
Proof of Identify/Residence/Ownership	Mandatory for all Applicants/Co-applicant/Guarantors
	Proof of Identity: Voter ID Card/Aadhaar Card/Passport/Driving License/PAN Card
	Proof of Residence: Recent Telephone Bill/Electricity Bill/Property Tax Receipt/Passport/Voter ID Card of Proprietor/Partner/Director (if a company) etc.
	Ownership Proof: Agreement Copy/Electricity Bill/Maintenance Bill with Share Certificate/Municipal Tax Bill
Business Continuity Proof	Shop and Establishment Certificate/Tax registrations - VAT/Service Tax/GST registrations
Firm Constitution	For a partnership firm: Latest partnership deed, PAN of the firm and office address proof
Firm Constitution	For a company: Certificate of incorporation, MOA & AOA, PAN, latest share-holding pattern and office address proof
Income Documents	I.T. returns for the last 3 years with computation of income for both business and individuals i.e. partners/directors
	Audited financial statements for the last 3 years along with all schedules & annexure and Tax Audit Report
	For a company: Auditor's Report, Director's Report is also required
Banking	Latest 6 months’ bank statement for all bank accounts related to the business
Other Documents	Proforma Invoice of equipment, Sanction letters/Repayment tracks for loans, Net worth statements of partners/directors
Other Documents	Any other document as required for assessment of proposal

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Frequently Asked Questions

Who can avail Kotak Healthcare Equipment Loan?

Hospitals, Laboratories, Diagnostic Centre's, Nursing Homes, Clinic's or Self-employed Doctor's can avail a Healthcare Equipment Loan.

How can I avail Kotak Healthcare Equipment Loan?

You can click on the “Apply Now” tab, share your details and our team will contact you. You can also write to us at [email protected]

Can a trust or society, having a hospital in its name, get a Kotak Healthcare Equipment Loan?

Yes, Healthcare Equipment Loan can be availed by a trust or society, provided it has a borrowing clause in trust deed and approval required from charity commissioner (if applicable) in place.

What is the maximum loan amount, tenure and loan to value (LTV) offered under Kotak Healthcare Equipment Loan?

We can offer a loan amount up to INR 10 Crores. Please visit the Features tab of Healthcare Equipment Loans for further details.

What benefit do I get by availing Kotak Healthcare Equipment Loan?

You can get a one-stop solution for all of your healthcare related requirements. We have solutions ranging from Healthcare Infrastructure Loan, CC/OD facility, Medical Equipment Loan, Letter of Credit for Import, POS Machine, Loan Against Credit Card receivable, Current Account for hospital/diagnostic centre/nursing home/clinic.

Can I get any benefit if I am an existing Kotak Bank Current Account or Savings Account or other loan customer?

Yes, we offer preferential interest rate, faster processing and doorstep service to our existing bank customers.

I require principal moratorium for 3 months, is it provided under Kotak Healthcare Equipment Loan?

Yes, moratorium can be provided under Kotak Healthcare Equipment Loan however interest has to be served during moratorium period.

Is the interest rate fixed or variable for Kotak Healthcare Equipment Loan?

Healthcare Equipment Loans are offered with a variable rate of interest, linked to EBLR.

Are there any foreclosure charges for Kotak Healthcare Equipment Loan?

Yes, prepayment charges of 3% of outstanding amount (plus taxes as applicable) will be applicable for closing the loan before completing the tenure.

What are the various charges for availing Healthcare Equipment Loan?

You are charged with processing fee for availing the Healthcare Equipment Loan. Please visit the “Fee and Charges” tab for more details.

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Terms & Conditions apply. Credit at sole discretion of Kotak Mahindra Bank Ltd and subject to guidelines issued by RBI from time to time. Bank may engage the services of marketing agents for the purpose of sourcing loan assets.

Healthcare Finance Solutions

Below are the criteria's for availing a Healthcare Finance Loan

Fees & charges to avail a Healthcare Finance Loan

Documents required to apply for a Healthcare Finance Loan

Ready to take the next step?

Open a Current Account

Frequently Asked Questions

Who can avail Kotak Healthcare Equipment Loan?

How can I avail Kotak Healthcare Equipment Loan?

Can a trust or society, having a hospital in its name, get a Kotak Healthcare Equipment Loan?

What is the maximum loan amount, tenure and loan to value (LTV) offered under Kotak Healthcare Equipment Loan?

What benefit do I get by availing Kotak Healthcare Equipment Loan?

Can I get any benefit if I am an existing Kotak Bank Current Account or Savings Account or other loan customer?

I require principal moratorium for 3 months, is it provided under Kotak Healthcare Equipment Loan?

Is the interest rate fixed or variable for Kotak Healthcare Equipment Loan?

Are there any foreclosure charges for Kotak Healthcare Equipment Loan?

What are the various charges for availing Healthcare Equipment Loan?