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ICICI Bank Healthcare Equipment Loans are designed to provide flexible and convenient loans to certified doctors, hospitals, Medical Research and Educational Institutes, Diagnostic Centres and Nursing Homes, towards the purchase of medical equipment.
ICICI Bank offers complete solutions for the healthcare business financial needs of the customer:
- Healthcare Equipment Finance.
Service Charges and Fees
Charges & Interest |
Amount |
Interest |
|
i. Additional Interest |
2% per month on overdue EMIs |
Penal Charges |
|
i. Prepayment charges |
3%* on POS + applicable GST upto 3 years of seasoning, 2.5% + applicable GST of POS after 3 years of seasoning |
ii. Bounce Charges |
Rs. 500/- + applicable GST |
iii. Loan Cancellation Charges |
Rs. 2000/- + applicable GST |
Service Charges |
|
i. Duplicate Repayment/Amortization schedule charges |
Rs. 150/- + applicable GST (For Physical Copy) and NIL for Digital Copy |
ii. Statement of Account charges |
Rs. 150/- + applicable GST (For Physical Copy) and NIL for Digital Copy |
iii. Prepayment statement charges |
Rs. 150/- + applicable GST (For Physical Copy) and NIL for Digital Copy |
iv. Duplicate No objection certificate / No due certificate charges |
Rs. 250/- + applicable GST |
v. Revalidation of No objection certificate charges |
Rs. 250/- + applicable GST |
vi. No objection certificate for conversion from Petrol to LPG/CNG charges |
NA |
vii. No objection certificate to convert from private to commercial or from commercial to private charges |
NA |
viii. Swap charges |
Rs. 500/- + applicable GST |
ix. Loan documentation charges |
Rs. 650/- + applicable GST |
x. Registration Certificate (RC) Collection Fees |
NA |
xi. Loan Reschedulement / rebooking charges |
Rs. 2500/- + applicable GST |
xii. CERSAI Charges |
Rs. 100/- |
xiii. Information Utility Charges (Only for Corporate Cases) |
Rs. 300/+ applicable GST |
xiv. Cash Transaction Charges (for repayment of EMI dues in cash at branches) |
Rs. 100/- + applicable GST |
xv. Processing fees |
Upto 1% of loan amount + applicable GST |
xvi. Stamp duty charges |
At actuals as per State Stamp Duty Act + applicable GST(if any) |
xvii. Valuation charges |
At actuals+ applicable GST |
Notes:
Service Tax (ST), Other Government taxes, Levies, etc., will be applicable as per prevailing rates in addition to the above-mentioned charges
Loan Processing Fee (LPF) not mentioned here is part of the Rate and Fees matrix communicated to the customer at the time of loan application. Please refer to www.icicibank.com , for further details
The charges or fees given in the above table are subject to change and the one recorded in the agreement will be binding over the site
Stamp duty charges shall be extra, as applicable
ICICI Bank reserves the right to revise the rate of interest and processing fee from time to time, at its sole discretion
* Nil Prepayment charges on all fixed rate loans if loan is booked under priority sector lending and Borrower(s) type is Small or Micro & Loan amount is less than or equal to Rs. 50 Lacs. Further, Nil prepayment charges on all floating rate loans if Borrower(s) type is Small or Micro in accordance with MSE Code of Commitment.
For more information, please visit the nearest ICICI Bank Branch or call our Customer Care.
Range of Interest rates for Medical Equipment Loan
| Quarter ended on March-2023 | Minimum | Maximum | Mean |
|---|---|---|---|
| Medical Equipment | 8.65% | 10.50% | 9.30% |
- The range of interest rates provided above is with respect to loans to individuals disbursed during Quarter 4 - FY: 2022-23.
- It includes fixed rate of interest and is based on factors such as customer relationship, vehicle segment and tenure of loan etc.
- Interest rate for used vehicle loan is based on age and segment of vehicle, tenure of loan and product variant like top up, refinance etc.
- It excludes subsidy and government schemes.
- Mean rate = Sum of rate of interest of all loan accounts / Number of all loan accounts.
Annual Percentage Rate
The Annual Percentage Rate (APR) is a method to compute annualized credit cost which includes interest rate and loan origination fee.
To calculate the same, please click here to download the APR calculator.
