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Medical Loans

Personal Loans up to $15,000

Money in your bank account and ready to use in 60 seconds once approved*(1)

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Apply in less than 8 minutes

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Apply in less than 8 minutes

Jacaranda Finance offers medical loans from $1,000 to $15,000 for Australians in need of short term finance.

Medical loans can be used to cover the costs of an out-of-budget medical procedure. Jacaranda Finance delivers fast personal loans; you could have cash within 60-seconds**.

Need money to cover medical bills?

If you require an urgent medical procedure or wish to fund a cosmetic surgery you have been wanting, you can access an easy medical loan from Jacaranda Finance. Medical costs can be highly expensive, even if you have private health cover. Rather than worrying about sourcing money to cover your medical bills, worry about your health; consider quick medical loans from Jacaranda Finance to alleviate some of your stresses.

Jacaranda Finance is an online lender which allows us to deliver fast and efficient services to all of our clients. We are an award-winning lender specialising in delivering quick loan outcomes; we were the first lender in Australia to deliver a 60-second payout. We endeavour to process loans within 60-minutes* and support instant transfers on approval. 

Medical loans Australia

Loans for medical bills are a type of personal loan designed to specifically cover medical expenses. Whether you require medical loans for cosmetic surgery or a medical emergency loan, Jacaranda Finance will have a personal loan option to suit your needs. We offer three types of loans: small loans, medium loans and large loans.

Loan Type Security Options Loan Amount Loan Term
Small loan Unsecured $1,000 to $2,000 12 months
Medium loan Secured $2,100 to $4,600 13 to 36 months
Large loan Secured $5,000 to $15,000 13 to 36 months

Small medical loans are unsecured loans. Our medium and large loan types are secured medical loans. This means that an asset must be attached to the loan as security for the lender; you can use either a car, motorbike or caravan as collateral. If you would like more information about our personal loan fees and charges, please refer to our costs page.

How to get a medical loan

Apply for a medical loan online by using our simple online application form. Within just a few minutes, you can apply for your desired loan amount to cover medical expenses. We will endeavour to process your loan within 60-minutes* and we support instant transfers on approval; this means you could have your cash within 60-seconds**. Follow these straightforward steps to apply for your medical loan:

Step 1: Apply online

Step 2: Our team will process your loan application as soon as possible

Step 3: We will let you know the outcome of your loan

Step 4: If approved, review and sign your contract

Step 5: Receive your money

Eligibility criteria

Our applicants must meet the standard eligibility criteria stated below so that we can process their application. Please ensure that you can say ‘yes’ to the following:

  • You are at least 18 years old
  • You are an Australian Citizen or Permanent Resident
  • You have had a consistent income into your bank account for at least 90 days
  • You have a mobile phone number and email address
  • You have internet banking set up

Supporting documents required

We also require supporting documents to be submitted along with your online loan application. Please ensure that you provide the following documents to receive the fastest possible loan outcome:

  • 100 points of identification
  • The reason for your loan
  • Your basic personal information (name, date of birth, address etc.)
  • Your online banking login details
  • Your myGov login details (if you receive Centrelink benefits)

What can I use a medical loan online for?

You can use a medical personal loan to cover any medical expenses you cannot afford outright. However, you will need to let us know the medical bills you will be covering in your online application form. These are some of the most common reasons we receive medical loan applications:

  • Dental expenses
  • Elective surgery (surgery patients need, but don’t need to be done right away)
    • Constructive surgery – knee reconstruction, hip replacement etc.
    • Cosmetic surgery – facial cyst removal, liposuction, rhinoplasty, breast augmentation etc.
  • Urgent or emergency surgery (urgent, possibly life-threatening medical conditions)
    • Serious injuries from an accident
    • Acute appendicitis
  • Laser eye surgery
  • Non-surgical procedures – blood tests, x-rays, MRIs, physical therapies
  • Specialist appointments – gastroenterologist, dermatologist, cardiovascular surgeon consultations etc.
  • Medicines
  • Rehabilitation – physiotherapy, occupational therapy, speech pathology etc.

Medical loans for bad credit

Searching ‘how to get a medical loan for surgery’, but worried your credit score may stop you? Jacaranda Finance is an online lender; this allows us to be more lenient in our credit requirements than traditional lenders. We offer bad credit personal loans to eligible applicants that meet our lending requirements. We conduct a thorough financial assessment on each of our applicants by utilising current bank statements. If we find that an applicant can reasonably manage their loan repayments, even with a bad credit history, we may be able to provide them with a medical loan.

We follow the responsible lending guidelines set by ASIC and therefore must still conduct credit checks on all of our applications. However, a bad credit score will not stop you from accessing medical finance from Jacaranda Finance. We are a financially inclusive lender; we put more focus on your ability to repay your loan currently, rather than your past.


How much can I borrow for my medical bills?

You can borrow as much as you need to cover your medical expenses between $1,000 to $15,000. Our team will conduct their financial assessment to ensure you can manage your loan. Your repayments will depend on how much you borrow.

What are the fees and charges?

Any fees and charges will be clearly outlined to you in the terms and conditions of your contract. These may include interest fees and/or a monthly repayment. Your personalised rate will depend on your current credit score. If you would like more information, please refer to our costs page. 

How do I repay my medical loan?

We will set up a direct debit in line with your current pay cycle. Your repayments will be automatically deducted from your account on this selected day until your loan has been repaid in full. Once your loan has been paid off, your repayments will stop.

Do you offer medical loans interest free?

We do not offer interest free loans. However, we can offer competitive interest rates on our personal loan terms. Interest fees are one factor in the cost of your loan; if you are searching for the most affordable loan options available, it is important to do your research. 

Health Insurance in Australia

Private health insurance in Australia is ‘community rated’; this means everyone can purchase the same product at the same price (excluding Lifetime Health Cover and Age-based discounts). A health insurer cannot refuse you any cover you wish to purchase. When looking into purchasing private health, here are some things you may wish to consider:

  • What does your plan cover? Medicare covers most Australians for some health care; typically, you are either fully covered or are charged a gap fee. However, Medicare doesn’t cover everything so you may choose to take out private health insurance to give yourself comprehensive cover.
  • How does your plan operate? There are two main categories of cover: hospital and general treatment cover. You can buy combined policies for both categories or separately. 
  • Are you immediately covered for pre-existing conditions? If you are purchasing health insurance with a pre-existing medical condition, you should check with your provider whether you are covered straight away. Your health insurance provider may require you to wait a twelve-month waiting period before you are covered. 
  • What government surcharges or incentives may affect your insurance? The Private Health Insurance Rebate, Lifetime Health Cover rules and Age-based discount affect how much you pay for private health insurance. The Medicare Levy Surcharge also affects people earning above a predetermined threshold who don’t hold private hospital cover. 

How does Medicare work?

Medicare is an affordable, accessible and high-quality health care system offered to most Australian residents. You can get a Medicare card if you live in Australia or Norfolk Island and meet certain criteria. You may be eligible for Medicare if you are here from another country, but limitations may apply. 

*If you apply within our standard business hours. Processing times may vary depending on individual circumstances.

**If you have an NPP-enabled bank account

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Reviews current as of June, 2021.

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Jacaranda is 100% online. So, we do not accept applications over-the-phone. However, our friendly team is more than happy to answer any questions you may have.