Compare Medical Loans from 50+ Australian Lenders

Cover procedures, treatment gaps, dental, fertility, cosmetic, rehab and more—with clear, fixed repayments.

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Medical Loan Options Australia
Emu Money Medical Loan Comparison

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.

1.

Apply online in 3 minutes

Share your details, treatment type and budget. No lengthy forms.

2.

See matched options

Compare secured vs unsecured, terms, fees and comparison rates.

3.

Upload documents

Provide ID, income evidence and bank statements for assessment.

4.

Settle & pay providers

Funds to you or directly to clinics, dentists or specialists.

How Medical Loans Work

Backed by over 50+ lenders

Giving you the best chance of being approved.

Affordable Car Loans
Alex Bank
Angle Finance
ANZ
Australian Motorcycle & Marine Finance
Australian Premier Finance
Automotive Financial Services
Azora
Bank of Melbourne
Bizcap
BOQ
Branded Financial Services
Capify
Capital Finance
CarStart Finance
CFI
Dynamoney
EarlyPay
Equity Tap
Finance One
Finstro
Firstmac
Flexi Commercial
Green Light Auto
Grenke
Latitude
Liberty
Lumi
Metro
Money3
MoneyMe
MoneyPlace
Morris Finance
Moula
Multipli
Now Finance
Pepper Money
Plenti
Prospa
Resimac
ScotPac
Selfco
Shift
SocietyOne
UME Loans
Vestone
Westpac
Wisr
Yellow Gate

Ready to get started?

Compare medical loans from 50+ lenders with one simple application.

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.

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.

Loan Amount$5,000 - $200,000
Term6 - 84 months
Interest RateFrom 6.3%
Comparison Rate^From 7.97%
Time to Fund24 - 48 hours
EligibilityMinimum income $20,000, Australian resident, Fair credit score
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.

Loan Amount$5,000 - $200,000
Term6 - 84 months
Interest RateFrom 6.3%
Comparison Rate^From 7.97%
Time to Fund24 - 48 hours
EligibilityMinimum income $20,000, Australian resident, Fair credit score
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.

Loan Amount$5,000 - $200,000
Term6 - 84 months
Interest RateFrom 6.3%
Comparison Rate^From 7.97%
Time to Fund24 - 48 hours
EligibilityMinimum income $20,000, Australian resident, Fair credit score
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.

Loan Amount$5,000 - $200,000
Term24 - 84 months
Interest RateFrom 9.2%
Comparison Rate^From 10.87%
Time to Fund24 - 48 hours
EligibilityMinimum income $30,000, Australian resident, Fair credit score
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

Medical Loan 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.

Loan Amount
$
Establishment Fee
$
Loan Term (months)
Interest Rate
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Total amount to repay
$0.00
Your repayments
$NaN

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.):

TermApprox. Monthly RepaymentTotal 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

VerifiedVerified Review

We highly recommend Brad, he went above and beyond to assist us and kept us informed all the way through the process. 5 stars all the way!! loooking forward to working with you again when we need to purchance our next hooist or other workshop equipment!! cheers

Gregory S.

Review posted on 2023-11-01

VerifiedVerified Review

What an amazing experience I had with Baron from Emu Money. He provided efficient and reliable advice and services.

Kayla H.

Review posted on 2025-06-25

VerifiedVerified Review

Brad has been absolutely amazing to work with to help with financing for our business! The process was very simple, well explained and Brad went out of his way to provide updates - highly recommended!

Karn P.

Review posted on 2025-05-14

VerifiedVerified Review

Emu Money is fantastic! I had Evie secure my personal car loan, and throughout the whole process she was very transparent. She gave me a comprehensive breakdown of the contract and guided me through the process. She's always available to chat, and is dedicated to her clients. She even advised me about my cash out limit that I didn't think of, which would've delayed me getting my car by another day. This reminded me to go to the bank directly. Her advice helped me a lot!

Akwesi A.

Review posted on 2025-09-23

VerifiedVerified Review

I had such a great experience with Evette when sorting out my car loan. She made the whole process really easy and stress-free, was always quick to answer any questions, and genuinely cared about getting me the best outcome. Super friendly and professional. I'd happily recommend Evette to anyone looking for a car loan!

Dillon F.

Review posted on 2025-08-20

VerifiedVerified Review

I've got the best service at Emu Money and their willingness to help you out. Evette went out of her way to help assist for the desired results. I will highly recommend them to anyone. Evette's industry knowledge & service was exceptional! I highly recommend her & will definitely reach out should we need any financial services in the future. Thank you

Mazhar A.

Review posted on 2025-04-25

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.

What can a medical loan cover?
How much can I borrow?
Are funds paid to me or my provider?
How fast can I be approved?
Will my credit score affect pricing?
Can I repay early without penalty?
Is a secured loan better?
Are medical loans tax-deductible?
Do I need quotes or a treatment plan?
Will applying hurt my credit score?
The information, tools, and material presented on emumoney.com.au are provided for informational and comparative purposes only and do not constitute financial advice or a recommendation. While we strive to ensure the accuracy and timeliness of the information provided, we make no guarantees or warranties, either expressed or implied, regarding the completeness, accuracy, reliability, or suitability of the information, products, services, or related graphics contained on this website. The loan rates, terms, and repayments presented are based on user inputs and the data provided by lenders in our network. These are estimates and indicative figures only. Actual loan rates, terms, and repayments may vary based on the specific lender, your creditworthiness, market conditions, and other factors not accounted for in our tools.
^The comparison rate shown is for a secured loan amount of $30,000 over a term of 5 years based on monthly repayments. Warning: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees, or other loan amounts might result in a different comparison rate. Any calculations or estimations do not constitute an offer of credit or a formal credit quote and is only a calculation of what you may be able to achieve based on the information you have entered. It does not consider suitable product features or loan product types. Rates + repayments shown are based on user inputted data. All applications for credit must be verified prior to the formal assessment process. All applications for credit approval are subject to lender credit approval. Approval is not guaranteed.
The minimum loan term available is 6 months, and the maximum loan term is 84 months. Maximum Annual Percentage Rate (APR): The maximum APR, which includes the interest rate plus fees and other costs calculated annually, is 29.29% per annum. Representative Example: For a loan amount of $30,000 over a term of 5 years (60 months) at an annual interest rate of 6.3% p.a., the total repayment amount including all fees and charges would be $36,471.67, with a monthly repayment of $607.86.