See how a Jacaranda Personal Loan can help you.
*Subject to lending criteria, T's and C's'
*Subject to lending criteria, T's and C's'
Medical costs can be highly expensive, even if you have private health cover. Thanks to Australia's world-leading healthcare system, most emergency surgeries won't cost you out of your own pocket.
However, you may face a time when you do have to pay for your medical needs, from smaller payments to larger, more important surgeries. Rather than worrying about withdrawing from your hard-earned savings to cover your medical bills, focus on your health and apply for a quick medical loan from Jacaranda Finance.
A medical loan is no different than any other personal loan: it's just a loan you use to pay for medical expenses, which you can specify in your application. These loans can be unsecured but you can also take out a secured medical loan by using an asset you own (such as a car) as security.
Jacaranda's medical loans are one of top 10 most common reasons people apply for a loan with us, alongside loans for dental expenses. We offer medical loans from $3,000 all the way up to $25,000, with manageable repayments spread out up to as long as 36 months. Our interest rates are fixed as well, so you'll always know what you owe and where you stand.
As a 100% online lender, there's no hefty paperwork or long lines with us. Instead, we utilise state-of-the-art technology that allows you to:
Need a medical loan for a furry friend instead? Check out how our vet bill loans could help you!
Did you know that in 2022, the number of Australians delaying or avoiding medical treatment soared by nearly 50% due to cost? That's according to a report from the Productivity Commission, which also revealed that it has never been harder or more expensive to see a doctor and seek medical treatment.
Taking care of our health is becoming increasingly expensive, but it's often not something we can opt out of. That's where Jacaranda comes in. You can use a medical personal loan to cover any medical expenses you would prefer not to pay for outright.
Here are just a few of the most common reasons we receive medical loan applications.
Whether you should have private health insurance or not depends on your situation. It can definitely help with certain medical costs and treatments depending on what you're covered for, and it also allow you to skip waiting lines and choose your own doctor in a private room. But it can also be costly to have a policy on an ongoing basis, and not everything is covered by private health.
For a detailed breakdown on the pros, cons and costs of both private health insurance and Medicare, see our article on whether you need health insurance.
Our loans are designed to be fast, fair, and, above all, affordable, with no hidden fees. See the table below for a quick guide to our charges, or visit our fees page to learn more. For detailed information about who our products are designed for, please review our Target Market Determinations.
Am I eligible for a Loan with Jacaranda?Â
You must meet the following basic eligibility criteria before submitting an application:
Find out the answers to some of our most frequently asked questions here about our medical loans.
Before you formally apply with Jacaranda, you can check if you qualify for a loan in a way that does not impact your credit score. We do this by performing a 'soft' credit check that is only visible to you.
If you don't meet our initial criteria, your credit score won't be affected.
Once you've checked your eligibility and we've let you know that you do qualify for a loan, you have the option to move forward with a full application.
We will perform a credit assessment during this process, which involves checking your credit report. By submitting a full application, you authorise Jacaranda Finance to obtain a copy of your full credit file, referred to as a 'hard' credit check.
Other lenders will be able to see that you applied for a loan with Jacaranda.
This might impact your credit score.
Review our Privacy Policy for more information.
Our loan application process has been designed to be as simple and quick as possible, as we know how important it is to receive your funds in a timely manner. How quickly you can apply for a personal loan and receive your funds will depend on your situation.
Applying for a loan with Jacaranda Finance takes most people 5-12 minutes1, but it could take longer depending on a number of factors such as but not limited to how fast you are at typing or if you have all the required information on hand.
After applying, most customers get an outcome on their loan application on the same day during normal business hours once we have received all of the supporting information we require. We do not guarantee same-day outcomes for all customers.2
Once an applicant has been approved and they have signed a contract, we automatically attempt to release the money to the applicant's bank account. Most customers have a New Payments Platform (NPP) bank account and receive the money in their bank account within 60 seconds. For other customers, the money will be available overnight on weekdays and overnight the following business day if approved on a weekend or public holiday.3
Repayments on your loan are automatically set up to be deducted via direct debit from your bank account in line with your pay cycle.
You can view your repayments from either the Better Credit app or online portal and contact our friendly customer service team to request any changes that you need.
Download the app on the Google or Apple store today.
Read more: Personal Loan Repayments 101.
We are dedicated to providing you with finance when you need it, which is why we're open on Saturdays! We could provide you with a loan if you apply during our business hours on the weekend:
Visit our rates and fees page to get an idea of the costs associated with our loan products.
The interest rate, fees and charges applied to your loan will depend on your individual circumstances and the information verified during the loan assessment. It will also depend on our assessment criteria, loan amount, and loan term for which you qualify.
Use our loan repayment estimate calculator to get a guide on what your repayments could be.Â
A loan with Jacaranda Finance is a flexible option you can use to pay for some of life's biggest expenses: planned or unexpected.
Here are some of the most common reasons our customers take out a loan:
$3,000 - $25,000
