Learn how to get a business loan of up to ₹80 lakh to start your medical store, with details on eligibility, interest rates, and flexible repayment options.
Opening a medical store can be a stable and rewarding business, given the constant demand for medicines and healthcare products. However, setting up a pharmacy requires significant investment in space, inventory, and licences.
If arranging this capital is a challenge, a business loan for a medical shop can offer the financial support needed to get started and run operations smoothly.
If you choose to apply for a business loan for pharmacy shop via Bajaj Markets, you get a host of advantages and add-on features:
Medical stores are an essential element of the healthcare and medical services sector in the country. The unsecured business loans do not require you to pledge your valuable assets as collateral to open or fund your pharmacy.
Based on your requirements and repayment potential, you can opt for flexible repayment tenures ranging from 12 to 60 months.
The demand for medical supplies is constant, and your pharmacy business should keep up with it. When you apply for a business loan for your medical store, approval takes less than 2 minutes, especially if you have a strong CIBIL score. The funds are then disbursed to your bank account within the next 24 hours.
Opening and running a medical store can be a hectic business, which is why the business loan for your medical store should ideally be as hassle-free as possible. The application process for business loans at Bajaj Markets is hassle-free and seamless and requires minimal documentation.
The Bajaj Markets platform offers a safe and transparent mode for availing financial products and services and is trusted by customers across India.
Opening a medical store in India involves several initial and ongoing expenses. The actual cost may vary depending on the location and scale of operations.
Estimated Costs:
Commercial space (rent): ₹10,000 to ₹1,00,000 per month
Pharmacist salary: ₹5,000 to ₹30,000 per month
Furniture and fixtures: Around ₹30,000
Cold storage equipment: Around ₹10,000
Legal and licensing charges: ₹6,000 or more
Miscellaneous expenses: Around ₹15,000
In addition to these, you may need to invest ₹50,000 to ₹1,00,000 in initial medicine stock. This cost can vary based on supplier terms, payment methods, and region.
Total Estimated Investment: ₹3,00,000 to ₹8,00,000, depending on the store’s location and setup.
Running a pharmacy requires more than just stocking medicines. You must invest in licensing, shop setup, refrigeration units, trained staff, and regular inventory updates.
A business loan for medical shop in India can help cover key expenses such as:
Initial setup costs – Rent, interiors, and storage infrastructure
Licensing and compliance – Registration fees and legal charges
Inventory procurement – Purchasing essential and prescription medicines
Staff salaries – Hiring qualified pharmacists and support staff
Working capital – Managing day-to-day operational costs
Whether you are starting fresh or planning to expand, this type of loan provides the flexibility to manage large expenses without straining personal finances. Choosing a lender with fast approval and tailored repayment options can ease the funding process and help maintain smooth operations.
In order to avail a Business Loan on Bajaj Markets, as a financing option for your medical store, it is important to make sure that you meet the eligibility criteria of the concerned lender. While every lender has a different set of criteria, some of the criteria that you are required to fulfil in case of most lenders are as follows:
You must be a citizen of India
You must be self-employed
Your age must be in the range of 25-66 years
You must have business experience of at least 3 years
You need to furnish the following set of documents while applying for a business loan for your medical store or pharmacy:
Identity Proof: Aadhaar card, passport, voter ID, etc.
Address Proof: Electricity bill, telephone bill, passport, Aadhaar card, driving licence, etc.
Business Proof: Certificate of business existence, Income Tax filings for the previous financial year, profit and loss statements for the past 3 years, etc. (applicable only for existing pharmacy owners).
2 passport-size photographs.
You can follow the steps given below in order to get a pharmacy business loan through Bajaj Markets:
Click on the ‘Apply for Loan’ tab on this page
You will be redirected to the online loan application form
Enter your profession, mobile number, and residential pincode
Accept the terms and conditions
Click on ‘CHECK YOUR OFFER’ to view eligible loan options
Reference of all T&C necessarily refers to the terms of the Partners as regards to pre-approved offers and loan processing time amongst other conditions.
Yes, many banks and NBFCs offer business loans specifically for medical stores. These can be secured or unsecured, depending on your credit score and requirements.
Interest rates typically range from 8% to 20% per annum. The final rate depends on your credit history, loan amount, tenure, and the lender’s policy.
The initial investment usually ranges between ₹3,00,000 and ₹8,00,000. This includes rent, salary, furniture, licences, and initial medicine stock.
Not checking your credit score
Applying without comparing lenders
Ignoring hidden charges like processing fees
Taking a loan without a clear repayment plan
Failing to read the terms and conditions carefully