6 Best Medical Loans for Surgery in 2024

Last Updated on January 29, 2024 by Lori Pace

Surgery, depending on the methods, can be very expensive. However, many options are available, including credit cards, personal loans and provider payment plans. In this article, we provide you with the 6 best medical loans for surgery!

How to get a medical loan for surgery?

How To Get A Medical Loan For Surgery
How to get a medical loan for surgery?

Surgery financing allows consumers to pay for the procedure and still afford it. Of course, you need to ensure that the financial decision you make is financially sound.

Some grants are available from the government and non-profit organisations for those who aren’t in an emergency but still need money to pay medical bills or pay for upcoming treatment.

The best medical loans for surgery allow you to receive the care that you need. This loan covers the cost of a multitude of medical expenses, including those resulting from an emergency. It also provides funds to pay for any surgery that is not covered by your health insurance. These loans can also be used to pay off unexpected or high-deductible debts.

Medical procedures that are not covered by insurance cost more than the median annual household income of an American. Each procedure is at least four times the cost of the average American household’s savings. An unsecured personal loan, also known as a medical loan, is a fast and easy way to pay for almost any type or procedure.

Where & How to Get a Medical Loan for Surgery?

Instalment loans are one of the most popular ways to pay for your surgery. Unsecured personal loans are often available to help pay for medical procedures. So, you can find these loans at local banks, credit unions, online lenders, peer-to-peer, and other financial institutions. Typically, loans have terms between one and seven years. They can also have high-interest rates of up to 36%. A personal loan can be obtained even if you have excellent credit. The rate will range from 10.3% to 12.5%.

A loan for specific medical procedures is another option to help pay for your surgery. Personal loans let you borrow money to only pay for medical procedures. These loans have rates that are nearly the same as personal loans.

How Best Medical Loans for Surgery Works?

You may get financial strains because of medical bills. Beyond the individual cost of the procedure, surgery can have a significant economic impact on your finances. However, other costs can be incurred:

  1. Pre-operative tests are done to prepare for surgery. These include blood work and X-rays
  2. Operation set-up or use of the operating rooms
  3. Co-surgeons and surgical assistants costs in the operating room
  4. Blood, plasma or any other form of biological support
  5. Anesthesia and intravenous medicine
  6. The surgeon’s fees are usually separate from the actual surgery fee.
  7. Durable medical equipment (this covers things that may be needed after surgery).
  8. The recovery room 
  9. Hospital Stay
  10. Skilled nursing facility fees
  11. Part-time nursing or therapy at home for those who are recovering from injury

A medical can cover all of these expenses. However, to qualify, there is no collateral required. Eligibility can also depend on a good credit rating and current debt to income ratio.

Many of the best medical loans for surgeries have lower interest rates and are easier to manage. Once approved, the money will be deposited into the account as a lump sum. The rates and terms will determine the monthly payments.

Things to Consider to Get Medical Loans for Surgery?

It’s not cheap, and it’s not easy, even with health insurance, to pay for medical treatment in the United States. Most people have no choice and delay treatment. In some cases, it can be an emergency. Personal loans are the best choice.

Are you wondering how to obtain a loan for medical treatment? These loans can be found in the same places that you would find regular personal loans. These loans are available from online lenders, banks and credit unions.

Many healthcare providers offer loans to patients who need expensive elective procedures like cosmetic dentistry or plastic surgery. Because patients are less likely to pay for these procedures out-of-pocket than doctors, they offer financing options.

What Else to Consider When Taking a Medical Loan for Surgery?

These are some things to keep in mind when comparing medical loan options:

  1. Annual Percentage Ratio (APR) is usually lower, which means that the loan will be more affordable.
  2. Fixed interest vs. variable: A fixed rate is the same for the entire loan term, while variable rates can change.
  3. Lender terms: While longer terms mean lower monthly payments but more interest at the end, they also result in lower loan terms.
  4. Eligibility: Lenders may require a particular credit score to be eligible. Other factors are also considered such as income and credit history.
  5. Origination fees: You may have to pay a loan origination fee of 1% to 8% on top of your total loan amount.
  6. Limitations on loan amounts: Only borrow what you need, and ensure that you have enough money to pay for your medical expenses.
  7. Funding time : Find out how long it takes.

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

Best Medical Loans For Surgery To Pay For Upcoming Or Past Surgical Procedures

A loan is helpful for medical-surgical expenses and can also extend your payment schedule to fit your budget. Here are the top medical loans available from lenders.


Prosper provides financing directly through healthcare providers. These are only available for bariatric, dentistry, cosmetic, and fertility treatment.

There are two types of loan programs available: the “standard” program and the “exceptional”. The standard program loan suits borrowers due to its lower credit requirements and lower borrowing limit. The exceptional program loan is great for those with 740 credit scores and who need a large medical loan. The loan comes with a very competitive APR range and can be extended up to $100,000.

The Standard Program Loan has an APR range of 7.95% – 35.99% with loan terms for 36 – 60 months. The loan amount can be from $2,000 – $40,000 with an origination fee of 2.41% – 5.00%. It’s best to remember that you’ll need to achieve the minimum credit score of 640.

The Exceptional Program Loan has an APR range of 5.95% – 16.79% with loan terms for 24 to 84 months. The loan amount can be from $20,000 – $100,000 without an origination fee, but with a minimum credit score requirement of 740.


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.

Their APR range is 10.68% – 35.89% with loan terms for 36 or 60 months. Their loan amount can range from up to $1,000 – $40,000 with an origination fee of 2.00% – 6.00%. However, the minimum credit score requirement is not specified.

Best Egg

Best Egg is an option for those looking for loans to pay for their medical bills. There is a minimum credit requirement of 620 and a minimum borrowing limit of 2,500. Best Egg can also fund your loan within one business day after approval and verification.

Their APR range is 5.99% – 29.99%, with loan terms for 36 or 60 months. Besides, the loan amount ranges from $2,000 –$35,000 with an origination fee of 0.99% – 6.99%. There is a minimum credit score requirement of 640.


There are personal loans are available to exist Citibank customers who have high deposit balances or premier accounts. Citibank offers unsecured loans of up to $50,000 to members, while non-members may borrow up to $12,500.


  1. Loan Amounts – $2,000 to $12,500 for non-citibank customers; $2,000 to $30,000 for customers applying online; $2,000 to $50,000 for customers applying in person or by phone.
  2. APR Range: 7.99% – 17.99% with discounts (rates may be higher).
  3. Fees: There is no origination fee, late payment fee or prepayment penalty
  4. Lender Terms: 1-5 Years
  5. Monthly Repayment Options


LightStream offers personal medical loans at rates that are lower than personal loans. So, highlights include

  1. Loan Amount Range: $5,000 – $100,000
  2. APR Range – Rates vary depending on the loan purpose
  3. Fees – No origination fee, no prepayment penalty
  4. Lender Terms: 2-12 years
  5. Monthly Repayment Option


RocketLoans personal loans are an excellent option for borrowers with excellent credit. Lenders offer competitive interest rates and are flexible about using the funds. Also, highlights include:

  1. Loan Amount Range: $2,000 to $35,000
  2. APR Range: 7.161% – 29,.99%
  3. Fees: Origination fee is 1%-6%, late payment fee $15, returned payment fee $15, and check processing fee $5. No prepayment penalty
  4. Lender Terms: 3 or 5 Years


You shouldn’t compromise when it comes to your health. Compare the options of lenders, such as maximum loan amount, interest rates, fees and perks, to reduce your expenses and help pay for medical procedures. You may also be able to get funding the same day depending on your emergency. Stay safe and get your treatment as soon as possible.

Lori Pace
Lori Pace

Lori Pace is a single mother of three daughters ages 7 and under. As a working mom from home, she balances kids, work and two crazy dogs with humor and love. Follow Lori as she honestly gives tips and advice based on her own experiences as a single mom!