Medical finance for cosmetic, dental and other procedures

A medical loan is a personal loan used to fund a health expense such as cosmetic surgery, dental work and dental surgery, fertility treatment, vision procedures or an unexpected operation. Terms usually run one to seven years with fixed repayments that make budgeting straightforward.

Medical loans come secured and unsecured. Unsecured is the common choice and relies on your income and credit profile alone. Secured versions borrow against an asset you own, such as a car, and generally cost less on larger amounts.

Medical lending in Australia is regulated consumer credit, which means responsible lending assessment applies. Lenders must verify that the repayments fit your income and expenses before approving the loan. Each lender also sets its own eligibility criteria, such as minimum income and residency.

A structured loan gives a health expense a defined end date and a fixed repayment, rather than leaving it on a credit card with no end date.

Knowing your borrowing capacity and the repayment amount up front lets you plan the total cost before you commit to a provider. Lenders assess the treatment cost set out in your provider's written quote.

A standalone loan also gives you something to compare against a provider payment plan. Seeing both total costs side by side is the only way to know which one actually costs less.

Decide secured versus unsecured first. Unsecured loans keep things simple for most procedures, while a secured loan is worth exploring for higher-cost treatment if you have an asset to offer.

Compare any provider payment plan against a standalone loan on total repayable, not on how it is presented to you. Convenience at the front desk does not always mean the better arrangement overall.

Keep the term as short as the repayment comfortably allows. A shorter term costs less in total, while a longer term eases the monthly commitment when the budget is tight.

One enquiry compares lenders across our lender panel, matched to your credit profile. Your broker handles the application and the paperwork through to funding.

Have your licence, recent payslips or income evidence ready. Pre-approval is possible the same day for many straightforward applications.

Get an itemised written quote from your provider before applying, including follow-up appointments and aftercare, so you borrow the full number once rather than topping up later.

Borrow what the treatment plan needs, not what you are approved for.

Applying to several lenders directly adds a credit enquiry each time. One brokered enquiry across the panel protects your file while still comparing the market.

Before you sign, check which fees and charges apply and whether you can make early repayments without a charge.