Medical procedures can be costly and may occur when you least expect it. A personal loan can help cover everything from the cost of the procedure itself to the often forgotten, but still important related costs including travel, lost income and aftercare.
A personal loan can help cover everything from the cost of the medical procedure itself to the often forgotten, but still important related costs including travel, lost income and aftercare.
Cosmetic surgery, other elective surgery, dental work, laser eye surgery, specialist appointments, IVF, medication, rehabilitation, medical equipment, travel and private hospital accommodation. And plenty that is not on the list.
One person reads your file, talks to the panel on your behalf and comes back to you with the answer. You are not explaining it again to whoever picks up the phone.
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The loan application process is easy and simple with our online application form, which only takes minutes to complete. After that you are dealing with one of eight brokers in one Perth office, so meet our team.
The loan is the same unsecured personal loan whichever of these you are here for. What changes is how much of the quote Medicare and your health fund will take off it, and therefore how much you need from us. Pick the closest match.
The largest category on this page and the one with the least help available. If the procedure is purely cosmetic, Medicare pays nothing and your fund pays nothing, so you are borrowing the whole figure rather than the gap. Some reconstructive procedures do carry an item number, and that changes everything.
Not sure which of these yours is, or whether it sits in more than one? Send us the procedure and the quote you have been given and we will tell you what to ask your surgeon's rooms and your fund before you borrow a cent.
Work out the amount first - the quote less whatever Medicare and your fund will pay back - then move the numbers until the weekly figure is something you would still be comfortable with while you are recovering.
We are a broker, so we do not set this. Lenders do, per file. Every loan on this page is unsecured, which is why this slider starts higher than it would for a car or a boat. Move it to whatever you want to test and your broker will come back with the rate a lender will actually write.
You will be shown the sharpest end of whatever the panel is offering that week. Try the lower end of the rate slider.
Indicative costs, and the ones the live page rightly calls often forgotten but still important. Leaving them out is the most common reason somebody comes back for a second loan a month later.
A guide only, worked out from the rate you chose above. Yes Loans is a finance broker and does not set interest rates. Read our calculator guidelines, and your broker will confirm the rate, the fees and the term in writing, from the lender, before you commit to anything.
Every procedure Medicare recognises has a Medicare Benefits Schedule item number. Whether yours carries one that applies to your situation decides whether Medicare rebates a share, whether your health fund can pay the hospital side at all, and therefore how much of the figure in front of you is actually yours to find. It is one phone call to your surgeon's rooms, and it is routinely worth thousands.
A code on the Medicare Benefits Schedule identifying a specific procedure done for a specific clinical reason. Your surgeon's rooms know yours, or know that there is not one, and they will tell you if you ask. It is an ordinary question and they are asked it every day.
Two things at once. Medicare rebates a share of the medical fees under that item number, and your private fund can pay the hospital component - the bed, the theatre, the nursing - if your policy covers that category. Without an item number a fund will not pay the hospital side either, which is the part people do not expect.
Because it changes the size of the loan rather than the rate on it. Two people handed the same total can need very different amounts once the rebates land, and the one who asked first borrows less and pays less interest on a smaller balance for a shorter term.
Neither answer is a problem. They are just different numbers, and the only bad version is finding out after the money has been drawn. Ring the rooms, ask whether an item number applies to you, ask your fund what it will pay against it, and then talk to us about the difference. A broker who talks you into borrowing more than you need has not done the job.
The same procedure costs three different amounts depending on which system you have it in, and the cheapest one on paper is not always the cheapest once you count the waiting.
Free at the point of care, if you can get on the list and the list moves in time. For anything urgent and clinically necessary this is the first question, not the last one.
Borrowing before you have asked what the public wait actually is. Ask even if you expect to hate the answer, because it is the one number that could save you the entire loan.
You choose the surgeon and the timing, and your fund pays the hospital side where the procedure carries an item number and your policy covers that category.
A policy that covers the category but still has a waiting period to run. Funds generally apply twelve months to a pre-existing condition, so check that date before you book the other one.
Cheaper on the quote, and the reason a real share of Australians travel for treatment. It is also the option with the most that can go wrong financially.
Revision surgery. If something needs correcting once you are home it is a fresh cost with no rebate behind it, and travel insurance generally excludes anything arising from the procedure you travelled for. Budget for the version where it goes well and the version where it does not.
A surgeon's quote, an anaesthetist's estimate, a hospital estimate and a rebate estimate from your fund. Four documents, and most people apply for finance holding one of them. Gathering the other three takes about a week and it is the difference between borrowing what you need and borrowing what you guessed. Your broker will wait for them. The loan is not going anywhere, and under the cooling-off rules neither is the surgery.
We are a finance broker, and this section costs us business. It is on the page because it is true and because nobody selling you a medical loan is going to mention it. If your treatment qualifies, the Australian Taxation Office can release some of your own superannuation early to pay for it, on compassionate grounds. It is your money and there is no interest on it.
Medical treatment for you or for a dependant, and the transport to get to it. There are other compassionate grounds as well, including palliative care and modifying a home or vehicle to accommodate a severe disability.
Treatment to address a life threatening illness or injury, acute or chronic pain, or acute or chronic mental illness. It also has to be treatment that is not readily available to you through the public health system, and that second condition is the one most applications turn on.
Written reports from two registered medical practitioners, at least one of them a specialist, certifying that the treatment is necessary. The reports have a shelf life, so gather them close to when you intend to apply rather than months ahead of it.
Purely cosmetic procedures. Where there is no clinical necessity behind the treatment this is not the door, and the honest answer is an ordinary personal loan.
Your retirement. Money taken out now stops compounding and you cannot put it back later. It is the cheapest cash you will ever get at and it is a long way from free, so weigh it properly rather than reaching for it because it is not called a loan.
This is an ATO process and we have no part in it. Search for compassionate release of superannuation on ato.gov.au, or ask your super fund, who handle these constantly. If it comes through you may not need us at all. If it comes through for part of the cost, come back and we will sort out the difference.
A bank runs one credit policy and yours either fits it or it does not. A broker runs a panel, which is a different job: finding the lender whose policy already has room for your situation. Every answer below has a condition attached, because the honest ones do.
Say so in the first sentence. A dated surgery booking changes which lenders we go to, because some of the panel can settle in days and some cannot. What we will not do is put you into a worse product purely to be fast, so tell us the real date and we will tell you what is achievable against it.
Paid or unpaid, a listed default does not end the conversation. It moves the rate and sometimes the amount. Put a higher rate into the estimator above and you will see what that actually costs a week before anybody asks you to sign anything.
There are lenders who will assess an ABN as young as twelve months on BAS and bank statements rather than two full years of tax returns. The paperwork is different, not heavier.
Common on this page in particular, and it needs a lender who assesses your ongoing income rather than the current fortnight. Bring the return-to-work date and the hours you are going back to. It is the difference between a decline and an approval more often than people expect.
Take it seriously and read it properly. Some are genuinely interest free for a set period. Many carry an establishment fee, a monthly account fee, and a rate that starts the moment the interest free period ends. Ask for the total amount payable on both, over the same term, and compare those two numbers rather than the two rates. We will run that comparison for you and tell you plainly if theirs wins.
A parent, a partner or a child. The loan is assessed against you, because you are the one repaying it, and the treatment being somebody else's does not complicate that. What it does change is the compassionate release question above, which can cover a dependant.
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One of them reads your file, and the same one talks you through what Medicare and your fund are likely to pay before you decide what to borrow. Every rating below is that broker's own Google rating, as published on the Yes Loans about page.
Under the national cosmetic procedure guidelines an adult has a cooling-off period of at least seven days between deciding to proceed and the procedure itself, along with at least two pre-operative consultations and a psychological screening. For anyone under eighteen it is three months and a mandatory assessment. Those days are yours by law. They also happen to be exactly enough time to get the money right.
A lender's conditional yes on an amount and a rate, given before you have booked anything. It commits you to nothing and you can still walk away from the whole idea.
Most stay live between 30 and 90 days depending on the lender, which comfortably covers a cooling-off period and the consultations either side of it.
Nothing. Getting your rate through us does not affect your credit score either, because one application reaches the whole panel instead of you applying to lenders one at a time.
Your broker is in Victoria Park, twenty minutes from the specialist rooms in Subiaco and Nedlands, so the person reading your file knows the practices quoting you. Call (08) 9472 3000 or get your rate online.
Medical procedures can be costly and may occur when you least expect it.
A personal loan can help cover everything from the cost of the medical procedure itself to the often forgotten, but still important related costs including travel, lost income and aftercare. Whether you're ineligible for Medicare, or private health insurance doesn't cover the cost of your desired medical treatment, Yes Loans can help you with a personal loan.
Find out what your medical loan repayments could be with our free online loan calculator. With flexible payment options and transparent pricing, Yes Loans can help fund your medical needs sooner.
Learn more, including if you're eligible, on our FAQ page.
The loan application process is easy and simple with our online application form, which only takes minutes to complete. Enjoy peace of mind with transparent loans terms with no hidden fees and fast response times so you can get the funds you need. What are you waiting for? Apply now and take the next step toward getting it done.
Say YES to peace of mind. Say YES to Yes Loans today.
Whether you're ineligible for Medicare, or private health insurance doesn't cover the cost of your desired medical treatment, we can help. Apply now or call us on (08) 9472 3000 to talk it through with a broker before you commit to anything.
Thinking about a personal loan for a renovation, a holiday, a medical procedure, or to bring a few debts together?
You've probably seen the ads. An app promises to unlock a slice of your wages before payday, no interest, just
If you've been searching for short term loans in Australia, you've probably noticed the results are a mixed bag.
Ring your surgeon's rooms and ask whether there is a Medicare Benefits Schedule item number that applies to your procedure and your situation. If there is, ask for the number itself, then give it to your health fund and ask what they will pay against it. Those two answers tell you the gap, and the gap is what you should be borrowing rather than the headline total.
Not if it is purely cosmetic. No item number applies, so no rebate is paid, however well qualified the surgeon is. Some reconstructive procedures do carry item numbers where they meet the clinical criteria, and that is worth checking rather than assuming, because it changes what you need to borrow substantially.
A fund follows the item number. Where the procedure has one and your policy covers that category, the fund can pay the hospital component - the bed, the theatre, the nursing - once any waiting period is served. Where there is no item number, the fund will not pay the hospital side either, which is the part that catches people out.
Sometimes, and it is worth checking before you borrow. The ATO can approve early release of super on compassionate grounds for medical treatment for you or a dependant, where the treatment addresses a life threatening illness or injury, acute or chronic pain, or acute or chronic mental illness, and is not readily available to you through the public health system. It needs written reports from two registered medical practitioners, at least one a specialist. It does not cover purely cosmetic procedures. Apply through the ATO, not through us.
Sometimes yes, and we will tell you when it is. Some clinic plans are genuinely interest free for a set period. Many carry an establishment fee, a monthly account fee and a rate that begins when the interest free period ends. The only fair comparison is the total amount payable on each, over the same term, so ask both for that figure rather than comparing the two rates.
Unsecured. There is no asset for a lender to take security over, so a medical loan is an ordinary unsecured personal loan assessed against your income and your credit history. That means it sits higher than a secured car or boat loan would, and it also means nothing you own is at risk if things go wrong.
It depends on your income, your existing commitments and the lender, rather than on the procedure. Our loan calculator is the quickest way to sanity check a figure before you speak to anybody. The more useful exercise first is working out how much you actually need, which is the quote less whatever Medicare and your fund will pay back.
For a complete application with the paperwork in order it is usually days rather than weeks. What slows it down is almost never the lender: it is a quote that turns out to be incomplete, or income evidence that has to be chased. Tell your broker the surgery date at the start and the file gets built around it.
Often, yes. Paid or unpaid defaults, a discharged bankruptcy or a thin file change the rate and sometimes the amount rather than closing the door. The honest position is that it costs more, and your broker will tell you what it costs before you apply rather than after.
Getting your rate here will not affect your credit score. One application through us reaches the whole panel, so you avoid the multiple enquiries that come from applying to lenders one by one - which matters more here than on most pages, because people shopping for medical finance tend to apply in several places at once.
Yes, and most people should. Travel, time off work, aftercare, follow-up appointments, medication and private hospital accommodation are all legitimate parts of what you are financing. They are the costs the live page calls often forgotten but still important, and leaving them out is the single most common reason somebody comes back for a second loan.
Yes. It is an unsecured personal loan and what you spend it on is your business. Go in with your eyes open: Medicare pays nothing overseas, your fund pays nothing, travel insurance generally excludes anything arising from the procedure you travelled for, and any revision work when you get home is a fresh cost with no rebate behind it. Budget for the version where it goes well and the version where it does not.
Yes, and it is one of the more common reasons people are on this page. Medicare rebates eligible cycles and the safety net can lift what comes back once you pass the threshold in a calendar year, so the gap rather than the total is usually what needs funding. Talk to your broker about the whole treatment plan even if you only draw part of it now, because each separate application is another enquiry on your file.
Yes, and dental is the most commonly financed treatment in the country. Medicare almost never contributes, so what you pay turns on your extras cover and its annual limit. If the treatment plan runs across two policy years your dentist can often stage it so you get two limits instead of one, which is worth asking about before you decide what to borrow.
Yes. It is elective so Medicare pays nothing, and it is usually quoted as a package that includes the follow-ups. Check whether the price you have been given is for one eye or for both before you settle on an amount, because that catches people out more often than anything else in this category.
No. These are unsecured loans and plenty settle with nothing down. Putting some savings in lowers what you borrow and widens the number of lenders willing to look at the file, which matters most on a thin credit file or a rebuild, so it is worth modelling both on the estimator above.
On most of the panel, yes, and it is worth asking specifically because it varies. Ask your broker whether the loan you are being offered allows extra repayments and whether there is any cost to paying it out ahead of the term. On a medical loan people frequently pay out faster than planned once they are back at work.
Yes. The loan is assessed against you, because you are the one repaying it, and the treatment being for a parent, a partner or a child does not complicate that. It does matter for the compassionate release of super question, which can cover a dependant.
It happens, particularly where a procedure turns out to be more involved than expected. Talk to your broker before it becomes urgent. Increasing an existing loan is a different conversation from taking a second one out, and it is a much better conversation to have a fortnight early than a day late.
Rarely, for an amount this size. A card is convenient and it is usually the most expensive way to carry a large balance for a long time, and medical balances tend to be carried longer than people intend. If you have already put a deposit on a card, that is worth telling your broker about, because it may be worth including in what you refinance.
Yes, and it is the better order to do it in. A pre-approval is a lender's conditional yes on an amount and a rate before you have booked anything. It costs nothing, commits you to nothing, and most hold for 30 to 90 days, which covers a cosmetic cooling-off period and the consultations on either side of it.
Usually yes, and it is worth raising rather than taking two loans out. A personal loan is not tied to the procedure, so if you also need to get to the treatment or make the house workable while you recover, say so up front. Splitting it into a medical loan now and a travel loan or a home improvement loan a month later means two applications, two enquiries and two sets of fees.
You will need to be over 18, an Australian citizen or permanent resident, and receiving a regular income you can evidence. Beyond that the lender is assessing your income against your existing commitments. Learn more, including if you're eligible, on our FAQ page.