Compare Medical Loans from 50+ Australian Lenders
Cover procedures, treatment gaps, dental, fertility, cosmetic, rehab and more—with clear, fixed repayments.
5.0 rating
Care Without the Cash Crunch
Finance health costs with fast decisions, fair terms and repayments that fit your budget.
Borrowing Range
Typical amounts $2,000 to $50,000+
Fixed Repayments
1 to 7 year terms for certainty
Fast Approvals
Same-day outcomes possible for complete files
Secured or Unsecured
Choose flexibility or sharper pricing with security
Direct-to-Provider
Pay clinics or specialists at settlement if needed
Any Medical Purpose
Elective or essential care, dental, fertility, rehab
How it works
We match your profile to lenders that fund medical and dental procedures—quickly and fairly.
Apply online in 3 minutes
Share your details, treatment type and budget. No lengthy forms.
See matched options
Compare secured vs unsecured, terms, fees and comparison rates.
Upload documents
Provide ID, income evidence and bank statements for assessment.
Settle & pay providers
Funds to you or directly to clinics, dentists or specialists.
Backed by over 50+ lenders
Giving you the best chance of being approved.
A quick guide to medical loans
Medical loans are personal loans used to cover out-of-pocket healthcare costs—whether essential or elective. They spread expenses for surgery, dental work, fertility treatments, vision care, rehabilitation and more into predictable repayments. Pricing is risk-based and depends on your credit profile, income and requested amount.
You can opt for unsecured loans for speed and flexibility, or secured loans (e.g., using a car) to access sharper pricing or higher limits. Comparing offers and checking the comparison rate ensures you understand total cost before committing.
Want to skip ahead?
Jump to the section that best fits what you need.
Types of medical loans
Pick a structure that suits your treatment timing and budget:
Unsecured Personal Loan
A personal loan that doesn't require collateral, based on your creditworthiness and ability to repay, offering flexibility for various purposes.
Pros
- No collateral required - no risk to personal assets
- Quick approval and funding process
- Flexible use of funds for any purpose
Cons
- Higher interest rates than secured loans
- Stricter credit requirements
- Lower maximum loan amounts available
Best For
People who need flexible funding for any purpose without risking their assets. Ideal for debt consolidation, home improvements, holidays, and old or exotic vehicles.
Secured Personal Loan
A personal loan secured against an asset offering lower rates than unsecured options. Use the funds for any purpose while benefiting from competitive secured rates.
Pros
- Lower interest rates due to asset security
- Higher loan amounts available
- Flexible use of funds for any purpose
- Longer repayment terms possible
Cons
- Asset serves as security - risk of loss
- Comprehensive insurance may be required
- Longer approval process due to security valuation
- Asset restrictions during loan term
Best For
Borrowers with valuable assets who want lower rates for debt consolidation, home improvements, or major purchases while keeping costs down.
Fixed Rate Personal Loan
An unsecured personal loan with fixed interest rate providing predictable monthly payments. Perfect for consolidating debt or funding personal goals.
Pros
- Fixed interest rate provides payment certainty
- No assets required as security
- Predictable budgeting with set repayments
- Quick approval and funding process
Cons
- Higher rates than secured loan options
- Stricter credit requirements than variable loans
- Cannot benefit from interest rate decreases
- Lower maximum amounts than secured loans
Best For
Borrowers who want payment certainty and protection against rate rises for debt consolidation, home improvements, or planned expenses.
Variable Rate Personal Loan
An unsecured personal loan with variable interest rates that can fluctuate with market conditions. Potentially benefit from rate decreases on your personal financing.
Pros
- Can benefit from interest rate decreases
- Often lower initial rates than fixed loans
- More flexible loan features available
- No assets required as security
Cons
- Monthly payments can increase with rising rates
- Uncertainty in budgeting due to rate fluctuations
- Higher rates than secured loan alternatives
- Risk of significant payment increases
Best For
Borrowers comfortable with payment variability who want to benefit from potential rate decreases without putting assets at risk.
What can I use a medical loan for?
Medical loans cover a wide range of healthcare needs in Australia, from essentials to elective procedures:
Surgery & Hospital Gaps
Pay hospital excesses and procedure gaps not fully covered by Medicare or private health. Keep treatment timelines on track without draining savings.
Dental & Orthodontics
Finance implants, crowns, root canal, wisdom teeth removal, Invisalign and veneers. Bundle multiple treatments into one fixed repayment.
Fertility & IVF
Cover IVF cycles, egg freezing, genetic testing and related medications. Predictable repayments help plan for multiple stages of treatment.
Cosmetic & Reconstructive
From rhinoplasty to breast reconstruction or liposuction, fund procedures that improve confidence or follow medical recommendations.
Vision & Hearing
LASIK, cataract gaps, specialty lenses, hearing aids and audiology support—financed with clear terms and fixed instalments.
Rehab, Physio & Mental Health
Support ongoing therapy after injury or surgery, psychology and psychiatry services, or intensive outpatient programs with steady repayments.
Medications & Devices
High-cost prescriptions, injectables, CPAP machines, mobility aids and at-home medical equipment can be included in one facility.
Travel & Accommodation for Treatment
When you need to travel for specialist care, include flights and stays so access to treatment isn’t delayed.
Case Study
Alana & Chris
IVF funded without delaying care
Challenge: Facing upfront IVF costs not fully covered by insurance.
Solution: Unsecured medical loan over 4 years with direct clinic payments.
Alana and Chris in Melbourne needed to begin IVF quickly but were short on up-front funds for medications and the first cycle. Through Emu Money, they compared matched options and chose an unsecured medical loan with fixed repayments and no monthly fee. Funds were paid directly to their clinic and pharmacy, letting them start immediately while keeping a predictable budget.
How much can I borrow with a medical loan?
Typical loan sizes range from $2,000 to $50,000+, depending on the procedure, income stability and overall commitments. Secured loans may allow higher limits and sharper pricing; unsecured prioritises speed and flexibility. Lenders review recent bank-statement conduct and serviceability to set a suitable maximum so repayments remain manageable.
Medical Loan Repayment Calculator
Estimate repayments before you apply. Adjust amount, term and rate to see how it fits your budget.
Balance over time
Am I eligible for a medical loan?
Eligibility focuses on affordability, income stability and a clear plan for the funds (e.g., quotes or treatment plans). Stronger profiles and secured options can unlock sharper pricing. Clean recent bank-statement conduct improves approval odds.
You may be eligible if you are:
An Australian resident aged 18+
Employed, self-employed or receiving acceptable income
Able to demonstrate serviceability via bank statements
Meeting minimum credit criteria (score/history)
Borrowing for a legitimate medical or dental purpose
How to apply for a medical loan?
Complete a quick online application and upload documents. We’ll compare offers across secured vs unsecured and coordinate settlement to you or directly to your provider so treatment isn’t delayed.
Documents you may need:
Photo ID (driver’s licence or passport)
Recent bank statements (3–6 months)
Payslips or income evidence (or tax returns if self-employed)
Quotes, treatment plan or invoices
Asset details if offering security
How to save money on a medical loan
Compare more than just the headline rate—fees and the comparison rate influence the true cost. Shorter terms reduce total interest, while longer terms lower monthly outgoings. If your provider allows staged payments, draw down only what you need. Consider secured options for sharper pricing if appropriate, and check early-repayment policies so you can pay it off faster without penalty.
Example: Term impact — $15,000 at 12.49% p.a. (approx.):
| Term | Approx. Monthly Repayment | Total Interest (approx.) |
|---|---|---|
3 years (36 mths) | $501 | $3,036 |
4 years (48 mths) | $397 | $3,996 |
5 years (60 mths) | $336 | $5,160 |
Understanding medical loan options
Structure and features affect flexibility and cost. Here are key options to consider:
Secured vs Unsecured Loans
Secured loans (often against a car) may allow larger amounts and sharper rates but put the asset at risk if repayments are missed. Unsecured loans are faster and more flexible, usually at higher rates.
Fixed vs Variable Rates
Fixed rates provide certainty over the whole term. Variable rates can change with the market and may save money if rates fall—but could rise.
Direct-to-Provider Payment
Some lenders pay clinics or pharmacies directly at settlement. This prevents delays and ensures funds are used for treatment as intended.
Staged Drawdowns
For multi-step treatments, staged drawdowns let you access funds as invoices arise, helping reduce interest on unused amounts.
Early Repayment Flexibility
Look for extra repayments and early payout with low or no penalty so you can clear the balance sooner and save on interest.
Rate-for-Risk Pricing
Sharper pricing is offered to stronger profiles. Improving bank-statement conduct and reducing other debts before applying can help.
Testimonials
Verified Review
Really happy that it only took few days and no muck around. Ryan was friendly and able to help me pay off a loan and get a new car. Best part was taking away all the stress. Keeping me informed along the way with texts worked with me perfectly! Thanks.
Sheree F.
Verified Review
I was so lucky to have had Evette as my broker through emu money, from the very first phone call Evette was amazing, so prompt and professional keeping me updated on the whole process of the application for finance for my new car, I highly recommend Evette!!!
Kaila B.
Verified Review
I would highly recommend Emu Money for loan purposes. Special thanks to Eujin who helped me to get the car loan within 24 hrs with no hassles at all. There services are so good.
Jiten D.
Verified Review
Robyn was very professional in her mannerism in organising us our loan . Robyn was always polite .. She kept us up to date and informed on the development of our loan even after hours as it was hard for us to speak to her during work hours . Very helpful when your not tec savy I would highly recommend Robyn to anyone needing to deal with Emu Loans and will definitely recommend her to friends and family . Keep up the great work Robyn You are a true inspiration to you job Karen Grimston
karen c.
Verified Review
I had an excellent experience with Emu Money as they managed my car financing process smoothly and quickly. They were extremely professional and proactive, making the entire process stress-free. From start to finish, Emu Money’s team ensured that everything was handled efficiently, keeping me informed along the way. I appreciate their responsiveness and dedication, which made the process seamless. Highly recommend Emu Money for anyone looking for a reliable and professional financial partner!
Zain R.
Verified Review
Eujine made the process of getting a loan swift and easy, he's very trustable, I would highly recommend
Amila L.
Frequently Asked Questions
Medical Loan FAQs
These helpful FAQs will help you find the answers you need. If you can't find what you're looking for, you can request a callback below.
