6 Medical Loans for Surgery

Best Medical Loans for Surgery Best Medical Loans for Surgery

How to get a medical loan for surgery?

This is the question that most Americans search for to get the care they need where medical procedures cost thousands of dollars.

Surgery financing enables consumers to afford the cost of procedures and pay over time.

The various options are available including credit cards, personal loans, and provider payment plans.

However, you need to make sure that your choice makes the most financial sense.

If you are not in an emergency but still need help to pay with your medical bills or an upcoming medical treatment there are grants available by government and nonprofit organizations.

How to Get a Medical Loan for Surgery? - Learn How to Apply

How to Get a Medical Loan for Surgery? Things

Best medical loans for surgery allows you to get the care you deserve. It covers a mountain of medical expenses from a health emergency and gets you the required funds for surgery that even health insurance won’t cover.

These medical loans also help you to deal with debt from high deductible or surprising charges.

Without insurance, medical surgeries cost more than the average American’s annual median household income.

And every single procedure costs at least four times more than the median American household savings.

A medical loan is an unsecured personal loan that is a quick and simple way to cover almost any type of surgery, procedure, or treatment.

Best Medical Loans for Surgery - Medical Loan

Best Medical Loans for Surgery – How it Works?

Where & How to Get a Medical Loan for Surgery?

One of the most common ways to pay for surgery is to take out an installment loan. You’ll typically find unsecured personal loans to pay for medical surgery.

These loans can be found at online and peer-to-peer lenders, local banks, and credit unions. Loans usually have terms of one to seven years and have interest rates as high as 36%.

Although with excellent credit, one can expect to find a personal loan with a rate between 10.3% and 12.5%.

Another option to pay for surgery is a specific medical procedure loan. These personal loans allow you to use the loan money only to pay for a medical procedure.

Rates on these loans are almost the same as a typical personal loan. Let’s learn about the various funding options available.

How Best Medical Loans for Surgery Works?

Medical fees can put a significant strain on finances. The financial toll of surgery extends beyond the cost of an individual procedure. Other costs can include:

  1. Pre-operative tests to prepare for surgery, such as blood work and X-rays
  2. Surgery set up or use of the operating room
  3. Costs of co-surgeons or surgical assistants in the operating room
  4. Blood, plasma, or other biological support
  5. Anesthesia and intravenous medication
  6. The surgeon’s fee, which is typically separate from the fee for the actual surgery
  7. Durable medical equipment (this includes things that might be required after surgery)
  8. The recovery room following the surgery
  9. Hospital stay
  10. Skilled nursing facility charges
  11. Part-time nursing care or therapy for recovery at home

A medical loan can help you cover all these costs. It doesn’t require any collateral to qualify. Alternatively, eligibility depends on the factors like a good credit score and current debt-to-income ratio, among others.

The best medical loans for surgery often come with lower interest rates and a single balance that’s easier to manage.

It’s simple to apply, and once approved, the money will be deposited in the account in one lump sum. You can then make the regular monthly payments according to the rates and terms.

How to Get a Medical Loan for Surgery? Things to Consider

Paying for medical surgery in the United States isn’t cheap. Even with health insurance, it is no easy feat. Unfortunately, most people are left with no option, and therefore, they delay their treatment.

However, in some cases, it becomes an emergency. Turning to personal loans is considered the best option.

Now wondering how to get a medical loan for surgery? Well, you can find these loans in many of the same places as regular personal loans.

There are online lenders, some banks, and credit unions that offer them.

Many healthcare providers also offer loans for expensive elective procedures, such as plastic surgery or cosmetic dentistry.

Doctors are aware that patients are more likely to pay these bills out-of-pocket, so they often offer financing options.

What to Consider When Taking a Medical Loan for Surgery?

Here are a few things you need to consider when comparing medical loans.

  1. Annual Percentage Rate (APR): Usually, the lower is the APR, the more affordable the loan is.
  2. Fixed vs. variable interest: A fixed-rate stays the same throughout the loan’s life, while a variable rate might change.
  3. Loan terms: Longer terms make smaller monthly payments, however, more interest in the end.
  4. Eligibility: A lender may require a specific credit score. Other factors are considered, such as income, credit history, income, etc.
  5. Origination fees: A loan origination fee equal to 1% to 8% may be charged with your overall loan amount.
  6. Loan amounts: Borrow only as much as required, and make sure you receive enough money to cover your medical surgery.
  7. Funding time: Check how long it takes to receive your funds.
Best Medical Loans for Surgery - Where to Apply?

Best Medical Loans for Surgery – Pay for Surgical Procedures

Best Medical Loans for Surgery – To Pay for Upcoming or Past Surgical Procedures

A loan can be useful to meet medical-surgical needs and extend the payment plan to match your budget. Below, you’ll find the best medical loans for surgery available among lenders.

  • Prosper

Prosper offers financing directly through healthcare providers. However, these are limited to bariatric surgery, dentistry, cosmetic surgery, and fertility treatments.

It offers two unique loan programs: “standard” and “exceptional.” A standard program loan suits borrowers with its lower minimum credit requirement and lower borrowing minimum.

Meanwhile, the exceptional program loan is a great option for those with a 740 credit score and who need a large medical loan.

This loan has a highly competitive APR range, and the amount climbs as high as $100,000.

Details Standard Program Loan Exceptional Program Loan
APR range 7.95% – 35.99% 5.95% – 16.79%
Loan terms 36 or 60 months 24 to 84 months
Loan amount $2,000 – $40,000 $20,000 – $100,000
Origination fee 2.41% – 5.00% No origination fee
Minimum credit score requirement 640 740

For more information, visit https://www.prosper.com/healthcare-financing

  • LendingClub

It is a peer-to-peer lending platform that allows borrowers to cover up to $40,000 medical expenses. One can quickly apply for a personal loan where fair credit is needed to qualify.

LendingClub also allows a separate patient financing program. It includes a fixed interest rate installment loan and two promotional interest lines of credit.

However, you’ll need to visit a provider who has enrolled in LendingClub’s program to take advantage of its program.

APR range 10.68% – 35.89%
Loan terms 36 or 60 months
Loan amount $1,000 – $40,000
Origination fee 2.00% – 6.00%
Minimum credit score requirement Not specified

For more information, visit https://www.lendingclub.com/patientsolutions/

  • Best Egg

Best Egg is a viable option for borrowers looking for medical loans for surgery. It has a reasonable minimum credit requirement and a decent minimum borrowing limit.

Adding to that, upon verification and loan approval, Best Egg funds your loan in as little as one business day.

APR range 5.99% – 29.99%
Loan terms 36 or 60 months
Loan amount $2,000 –$35,000
Origination fee 0.99% – 6.99%
Minimum credit score requirement 640

For more information, visit https://www.bestegg.com/personal-loans/

Best Medical Loans for Surgery - Unsecured Personal Loan

Best Medical Loans for Surgery – Get the Care you Deserve

  • Citibank

Citibank personal loans can make financial benefits to those who are existing Citibank customers, with premier accounts or high deposit balances. Citibank makes unsecured loans up to $50,000, and non-members can borrow up to $12,500.


  1. Loan Amount Range – $2,000 – $12,500 for non-Citibank customers, $2,000 – $30,000 for customers who apply online and $2,000 – $50,000 for customers who apply by phone or in person
  2. APR Range – 7.99% – 17.99% with discounts (rate may be higher)
  3. Fees – No origination fee, late payment fee, or prepayment penalty
  4. Loan Terms – 1 to 5 years
  5. Repayment Options – Monthly

For more information, visit https://www.citi.com/.

  • LightStream

LightStream offers some personal medical loans with rates lower than personal loans.


  1. Loan Amount Range – $5,000 – $100,000
  2. APR Range – Rates vary by loan purpose
  3. Fees – No origination fee, no prepayment penalty
  4. Loan Terms – 2 to 12 years
  5. Repayment Options – Monthly

For more information, visit https://www.lightstream.com/medical-financing.

  • RocketLoans

RocketLoans personal loans can be a great choice for borrowers with good credit. The lender offers competitive interest rates and is flexible on how you use the funds.


  1. Loan Amount Range – $2,000 – $35,000
  2. APR Range – 7.161% – 29.99%
  3. Fees – Origination fee is 1% – 6%; late payment fee is $15, returned payment fee is $15, check processing fee is $5. No prepayment penalty
  4. Loan Terms – 3 or 5 years

For more information, visit https://www.rocketloans.com/


When it comes to health, you shouldn’t compromise on the care you deserve. Compare lenders’ options like maximum loan amount, interest rate, fees, and perks to lower your expenses and pay for medical surgery.

Depending on the emergency you can also get funding on the same day. Get your treatment done without any delays, and stay safe.

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About the Author

Abigail Friedland
I am a medical student who dedicated herself helping individuals and non profit organizations for finding medical grants for medical bills, medical treatment, medical education, research and medical equipment.

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