A medical loan is a personal loan to cover medical expenses. This is a type of unsecured personal loan, meaning you don't need to provide any collateral to secure the loan. This makes them an accessible option for many, offering a straightforward way to manage healthcare costs without dipping into savings or relying on credit cards.
Immediate Access to Funds: Medical loans provide quick access to funds, allowing you to address urgent medical needs promptly.
Flexible Use: Medical loans can be used for a wide range of medical expenses, including surgeries, dental work, fertility treatments, cosmetic procedures and even pet veterinary surgery.
Fixed Interest Rates: Our medical loans come with fixed interest rates, ensuring your monthly repayments stay consistent throughout the loan term. This helps with budgeting and financial planning, giving you one less thing to worry about when your health is the priority.
If you have a bad credit history, don't worry; we can help you, subject to our eligibility and credit criteria. We specialise in assisting borrowers with unique financial circumstances, such as bad credit scores, defaults, previously declined by another lender, party to a debt agreement, and current or discharged bankrupts.
Our interest rates are offered based on your credit assessment and EBP Money's responsible lending criteria. Your interest rate will be personalised based on your overall credit profile and financial situation. Your interest rate will be fixed for the life of your loan. We offer interest rates at the lower end of our range to customers with an excellent credit history.
We charge a one-off risk or establishment fee. This is based on your loan amount and your credit rating. We also charge a monthly account service fee of $15. There are no fees for our tier-one borrowers with excellent credit scores. We will provide all your fees and charges in your loan contract.
Yes – you can make additional repayments, increase your repayments and pay out your loan early. However, an early repayment fee may apply. All fees will be disclosed in your loan contract.
If your circumstances change and you cannot repay your loan, please get in touch with us immediately. We are here to help.