Medical loans can help you get better, quickly
Need medical work done? Can’t foot the bill?
Medical bills can quickly add up. Learn how a medical loan can help you get the help you need.
What is a medical loan?
A medical loan can help you borrow the money you need for anything related to your health.
You can use a medical loan for:
- Major or minor operations
- Elective surgery
- Cosmetic surgery
- Endocrine Surgery
- Reconstructive Surgery
- Preventative Surgery
Why choose a medical loan?
Health problems impact your wellbeing and general quality of life.
When your health’s not right, not much else can matter.
When you’re not healthy, your relationships can suffer and opportunities you’d normally jump at you let slip through your fingers.
Taking time off of work can end up costing you a lot.
If you’re putting off getting medical help because you’re short on money, then consider a medical loan. Get better, sooner and get back to enjoying the rest of your life.
Tips
Medical loans can differ greatly. Don’t make it a major operation. Give us a call and we’ll walk you through your options.
Medical loan features
Fixed interest rate
If knowing your monthly repayment won’t change is important to you, consider a fixed-rate loan.
Flexibility to make extra repayments
If you plan to make extra repayments to your loan to pay it off early, make sure your loan allows for this at no additional fee. Some loans may charge you a break-fee to payoff your loan early.
Flexible repayment frequency
Paying off your loan every fortnight rather than every month means you make more repayments in a year. This means you could pay less interest over the life of the loan and pay the loan off sooner. If that’s important to you, make sure you check to ensure this is possible with your debt consolidation loan.
Automatic repayments
Would you like the loan repayment to come out of your bank account automatically? This can help you avoid missed payment fees. A good strategy can be to have your loan payment come out automatically on the day after you are paid.
Contact us today
We’ll help you get the medical loan you need, no hiccups.
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Here’s what a loan might look like
Here’s what a medium loan might look like…
You’re after a loan for car repairs for $2,500 and are looking to make payments back on a weekly basis over 2 years.
In the above example You’ll pay:
- Loan Amount Financed: $2,500
- Establishment fee: $400 (Set by NCCP)
- Amount of Credit of the Loan: $2,900
- Total Amount of Interest Payable: $1,590.86
- Repayments: 103 x $43.19 + $42.31 (a final payment)
- Total Amount of Repayments: $4,490.88
- Nominal Percentage Rate (Interest) per annum: 48% as defined by NCCP
- Minimum loan period: 61 days
- Maximum loan period: 2 years