Helping Meet Costs
Medical finance plays an important role in supplementing the Australian healthcare system. Filling the gap between Medicare and Health Fund rebates to meet the overall cost to the patient.
Get the Help You Need with Medical Loans from Our Experts
Despite having Medicare and private health insurance to support their medical and health requirements, many Australians still face significant medical costs. Elective and non-elective surgery, courses of specialist treatments and medications, rehabilitation and therapy, emergency procedures and other conditions, can leave even those with high level health insurance with hefty out-of-pocket expenses.
Why Jade Finance?
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Personal Loan Specialist
With over 25 years of experience in finance, we have a reputation for negotiating great rates with same-day approvals.
Healthcare Financing Solutions for Patients in Need
For some, receiving certain medical procedures or health treatment may be lifesaving. But facing high costs, some patients face difficult decisions around how to proceed. Needing medical treatment and procedures and not having the funds readily available to meet the expenses can be devastating.
We provide patients with the help they require with healthcare financing for procedures, surgeries and treatments with our specialist medical procedure loans. Loans for health expenses which are individually sourced by our expert brokers to meet individual requirements.
Introduction to Medical Finance
We take a very personalised, understanding approach with individual brokers assigned to each customer. Our accreditation with over 80 lenders provides us with access to lenders that provide medical procedure loans and our expertise ensures competitive rates and workable terms.
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Example Medical Situations
Medical procedure loans are provided to individuals to cover out-of-pocket expenses for a range of treatments and surgeries. These may include joint replacements, organ transplants, cancer treatments, courses of special medications not covered by the PBS, emergency medical needs and other scenarios.
Unsecured Personal Loans
Loans for health expenses are provided as Unsecured Personal Loans and can present an affordable way forward for many patients. Some lenders may request a form of security or collateral for some loan applicants.
Loan Approval Guide
The amount that is approved for Personal Loans depends on the credit score and financial situation of the applicant and the lender guidelines. As a guide, loans of this type can be approved for $5,000 to $50,000.
Lower Interest Rates
The interest rate for Unsecured Personal Loans may be variable or fixed. Your Jade broker will be working with our lenders to achieve the lowest rate possible. The term is fixed, and a monthly schedule of repayments established.
Flexible Personal Loans for Your Medical Expenses
This lending product can present an affordable and flexible means of covering medical expenses for many individuals. For a quote on loans for medical procedures, give us a call or submit a quote request online.
- Unsecured Personal Loans for out-of-pocket medical expenses.
- Range of purposes, elective and non-elective, treatment.
- Competitive variable and fixed rate options.
- Experts to handle the loan arrangements.
Personal finance guides and resources
Our guides offer quick comparisons and simple explainers to help you navigate through the financing process with confidence.
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Estimating Loan for Medical Expenses with Personal Loan Calculator
Prior to applying for a loan for healthcare financing, customers can use our Personal Loan Calculator to obtain estimates for their loan. This device is easy to use, fast, and having a rough estimate may provide peace of mind while the application is being processed.
Rates will be individually quoted, but for the purpose of calculating an estimate, use the rate we are currently displaying for Unsecured Personal Loans.
For a quote specific to your requirements, contact us by phone or online.
- Quickly estimate loans for health expenses.
- Fast, easy-to-use online resource.
- Establish term and repayment preferences.
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Realise Benefits of Arranging Loans for Health Expenses with Jade Finance
Utilising our expertise, experience and vast lender connections can provide significant benefits to our customers. With our expert brokers handling the entire process of sourcing your medical loan, customers save time and receive high level skill and connections.
Our personalised approach, with a broker assigned to each customer, is an assurance that we respect patient privacy and can provide a streamlined, fast service to source loans to meet individual needs. With more than 80 lenders in our panel, we have the resources to achieve the most competitive rates across the lending market, and negotiate with lenders for the most flexible terms and repayments.
We know the matrix for approval implemented by each of our lenders. Allowing our experts to match each customer and their specific medical expenses requirements, with the right lender. This can be vital in achieving the optimum funding outcome.
We source quotes and offers and when a healthcare finance offer is accepted, funds can be quickly available to meet the necessary medical expenses. We operate on an Australia-wide basis, offering medical finance to customers in all states and territories.
For a no-obligation, confidential discussion of your requirements, speak with one of our brokers.
- Personalised, individual service.
- Quick access to 80+ lenders.
- Australia-wide, 25+ years of experience.
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Check Eligibility Criteria and Application Process for Medical Loans Australia
A loan for medical expenses is a personal loan which comes under the Consumer Credit lending category. This sector is regulated by ASIC, which sets guidelines and regulations that lenders must observe with application requirements, documentation and approvals.
To be eligible for medical loans Australia, applicants must meet the criteria of:
- 18+ years of age.
- Permanent resident of Australia/NZ, or hold the required visa.
- Have a regular, taxable stream of income in Australia, which can be verified.
- Have a fixed residential address in Australia, which can be verified.
- Have a credit profile and history which can be reviewed.
A range of documentation regarding financial position must be provided in the application:
- Prove ID with documents such as passport, driving licence, Medicare card.
- Provide proof of income with recent payslips, income tax returns, etc.
- Provide details of liabilities including debts, credit cards and regular expenses.
- Detail assets.
- Bank statements.
Checking eligibility can be done by providing the necessary details and documentation to your Jade broker online or by phone. Once your eligibility for a medical loan is confirmed, the next step is providing full documentation for the application to be considered by our lenders and quotes sourced.
Your Jade broker will match your profile with the right lender to source a quote. Lenders have their own criteria for approving loan amounts and offering interest rates. The credit score is integral to achieving the best rates and preferred terms.
The purpose of the funding can also be integral to any offer made. Lenders may request details of the purpose for the healthcare financing such as details of the surgery, procedure or other treatment. In requesting this information, lenders will be considering the ability of the loan applicant to repay the loan. A point of interest to lenders, and relevance to the medical loan terms offered, may be if the applicant will not be able to work for a period, and hence not generate income, due to the treatment or procedure.
Providing information on taking time off with paid sick leave or vacation time, or arrangements made around generating income while undergoing the medical procedure and the recovery time, may expedite the loan approval process.
We provide a prompt service, with many medical financing applications approved within 24 hours. To check if you are eligible for a healthcare loan, contact us.
- Fast application approval – 24 hour turnaround.
- Prompt, streamlined service.
- Check eligibility online or by phone.
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Consider Our Medical Loans with Other Funding Alternatives
Financing medical expenses with a personal loan at our highly competitive rates, can present a flexible and affordable way forward for many individuals. Comparing a loan with say using a credit card, can be extremely affordable. Interest rates on many credit cards can be much higher than our competitive personal loan rates.
Utilising savings may be an option for some. But where the medical requirements are urgent or the result of an accident or emergency situation, there may not be time to save up for the expenses.
Another consideration is what happens if you do nothing? For example, not proceeding with surgery may mean ongoing treatment for the condition over a long period. Treatment which itself may involve incurring ongoing expenses which over the long term, outweigh the costs of taking on a loan.
Request a quote to consider your options with all the personal loan information required.
- Competitive interest rates.
- Flexible repayment schedule.
- Fast access to necessary funds.
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THE COMPARISON RATE IS CALCULATED ON A SECURED LOAN OF $30,000 FIXED FOR A TERM OF 5 YEARS, NEW GOODS, EFFECTIVE 19/09/2024 AND SUBJECT TO CHANGE. WARNING: THE COMPARISON RATE IS TRUE ONLY FOR THE EXAMPLES GIVEN AND MAY NOT INCLUDE ALL FEES AND CHARGES. DIFFERENT TERMS, FEES OR OTHER LOAN AMOUNTS MAY RESULT IN A DIFFERENT COMPARISON RATE.
We work harder to secure the best rates.
Medical Loans FAQs
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Medical and healthcare procedures and treatment can be financed with an Unsecured Personal Loan.
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An application for a personal loan for healthcare expenses requires ID, proof of income and Australian residency, asset and liabilities details, bank statements and other financial documentation. Applicants must be over the age of 18.
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If the patient is an Australian resident and returning to Australia after the procedure to repay the loan, medical procedures being carried out overseas may be considered eligible for funding by Australian lenders.
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Interest rates are offered by lenders based on their assessment of the individual application.
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Healthcare loans can be used for a wide range of procedures including dental expenses.
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Hip replacements can be eligible for medical procedure loans.
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Lenders will typically want details of the purpose for the funding when considering loan applications. Approval for different types of procedures and treatments can be subject to lender guidelines and criteria.
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Many personal loan applications can be approved in 24 hours with funds released promptly after settlement.
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The term for a personal loan is approved by lenders after an assessment of the application. Terms for personal loans can vary from 1 year to 5-7 years.
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A Personal Loan Calculator can be used to calculate estimates on repayments. These are only estimates as the calculator does not allow for fees and charges and the interest rate offered may differ from the rate displayed by the lender.