6 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.

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 your medical bills or an upcoming medical treatment, there are grants available from government and nonprofit organizations.

Best medical loans for surgery allow 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 deductibles or surprising charges.

Without insurance, many medical surgeries can cost significantly, potentially exceeding the median annual household income for many Americans.

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.

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. Unsecured personal loans are a common method to pay for medical surgery.

These loans can be found at online and peer-to-peer lenders, local banks, and credit unions. Loan terms typically range from one to seven years, with interest rates that can reach up to 36%.

With excellent credit, typical interest rates for personal loans can range between 10% and 12%.

Another option to pay for surgery is through specialized medical procedure loans. 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 Work?

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 setup 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 factors like a good credit score and current debt-to-income ratio.

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 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.

You can find medical loans for surgery 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 know 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 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 of 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.

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.

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 in 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.

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.

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

  • Citibank

Citibank personal loans can provide 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. The returned payment fee is $15, and a check processing fee is $5. No prepayment penalty
  4. Loan Terms – 3 or 5 years

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

  • SoFi

SoFi is a great option to fund your next major medical procedure. Whether for hospitals, specialist clinics, or even trips to the local pharmacy, SoFi can help you get through each phase of your health journey.

  1. Loans range from $ 5,000 to $ 100,000
  2. Term of 24 to 84 months
  3. No initiation fees or prepayment penalties
  4. No administrative or late fees
  5. Offers discounts for automatic monthly payments
  6. Limited flexibility in monthly payment dates

To apply or for more information, visit https://www.sofi.com/personal-loans/medical-financing-loans/

  • Upstart

You can use an Upstart medical loan to pay for health expenses. As a medical financing option, you can use this loan for planned medical procedures and unexpected hospital bills.

Also, if you already have a medical loan, combine multiple loans into one; it will help manage debts.

  1. Term of 36 or 60 month
  2. Minimum FICO score of 600
  3. Restrictions on approved borrowers
  4. No prepayment charges
  5. Origination fees of up to 8.00%
  6. A late fee of 5% or $ 15
  7. It does not allow a cosigner
  8. Flexible monthly payment schedule
  9. Repayment must begin one month after receiving the funds
  10. Monthly multiple payments can be made
  11. Loan extensions are not allowed. However, alternative payment methods for emergencies are available.

To apply or for more information, visit https://www.upstart.com/medical-loans

  • LightStream

For individuals with a good credit score, LightStream could be the best option for paying for medical procedures. Discounts on medical loans are also available if you opt for autopay service.

  1. Term – 24 to 144 months
  2. Fixed interest rates
  3. Excellent creditworthiness is required
  4. Some restrictions on loan
  5. No fee
  6. There is no prepayment penalty
  7. There is no payment date flexibility
  8. Funds can be received on the day the application is approved
  9. One can make additional payments only on the principal

To apply or for more information, visit https://www.lightstream.com/medical-financing

  • Earnest

Earnest offers a personal loan that can vary from debt consolidation to paying for medical procedures.

  1. Depending on where you reside, the loan amount can range from $ 5,000 to $ 75,000
  2. Term – 36 to 60 months
  3. Minimum FICO – 650 points
  4. No administration, prepayment, or late fee
  5. Fixed interest rates
  6. Cosigners are not accepted
  7. Flexible repayment schedule

To apply or for more information, visit https://www.earnest.com/personal-loans

  • Avant

Avant is one of the prestigious lenders in the United States for secured or unsecured loans. Avant allows you to cover your medical procedures, even with a bad credit score.

Once the loan application is approved, the funds will be deposited into your account the next business day.

  1. Period of 24 to 60 months
  2. The loan was approved within a day
  3. Fixed interest rates
  4. There is no advance payment
  5. Management fees reach 4.75%

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


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 get funding on the same day. Get your treatment done without any delays, and stay safe.

See Also

Loans for Medical Procedures

Home Loans for Healthcare Workers

Medical Loans for Bad Credit

Current Version
May 6, 2024
Updated By
Andrea Morales G.
January 22, 2021
Written By
Victoria Abigail Friedland

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