Cosmetic and Medical Loans
Cosmetic & Medical Loans Australia
Medical and cosmetic procedures represent some of the most personal financial decisions Australians make. Whether you are facing an out-of-pocket gap on a medically necessary procedure, planning a cosmetic surgery that will meaningfully improve your confidence and quality of life, navigating the financial complexity of IVF, or dealing with a significant dental treatment not covered by your health fund, the cost can be substantial and the timing rarely aligns with when you have the funds available.
Australia's healthcare system is excellent for acute and publicly-funded care but leaves significant gaps in several categories. Pure cosmetic procedures are not covered by Medicare or private health insurance. Dental treatment including implants, orthodontics and major restorative work is only partially covered under most extras policies with significant annual limits. IVF treatment involves Medicare rebates for a defined number of cycles but substantial out-of-pocket costs at every stage. These gaps are real and often large. Australian Finance & Loans is an independent finance broker with access to over 50 Australian lenders. We arrange personal loans for cosmetic and medical procedures with genuine understanding of how these costs arise, which procedures involve Medicare or private health insurance coverage, and how to structure finance that works for your situation.
What Cosmetic and Medical Loans Can Cover
Cosmetic Surgery
Breast augmentation and augmentation mammoplasty: typically $8,000 to $18,000 for surgeon, anaesthetist and hospital
Breast reduction and mastopexy: may attract Medicare rebate if medically indicated, otherwise $10,000 to $18,000
Rhinoplasty (nose surgery): $8,000 to $20,000 depending on complexity
Abdominoplasty (tummy tuck): $12,000 to $20,000
Liposuction and body contouring: $5,000 to $15,000 depending on areas treated
Facelift and neck lift: $15,000 to $30,000
Eyelid surgery (blepharoplasty): $4,000 to $10,000
Brow lift: $5,000 to $10,000
Ear pinning (otoplasty): $4,000 to $8,000
Non-surgical cosmetic treatments: injectables, fillers, laser skin treatments and chemical peels
Post-bariatric body contouring following significant weight loss
Dental Treatments
Dental implants: $3,000 to $7,000 per implant including crown and abutment
Full mouth rehabilitation and all-on-4 or all-on-6 implant solutions: $15,000 to $50,000
Invisalign and orthodontic treatment: $6,000 to $12,000
Traditional braces: $4,500 to $8,000
Porcelain veneers: $1,500 to $2,500 per tooth
Composite veneers and bonding: $300 to $800 per tooth
Teeth whitening (professional): $600 to $1,500
Crowns, bridges and major restorative work: $1,500 to $3,000 per crown
Wisdom tooth removal under general anaesthetic: $1,500 to $3,000
Sleep apnoea dental devices: $2,000 to $3,500
TMJ treatment and jaw surgery
IVF and Fertility Treatments
IVF cycle including egg collection, fertilisation, and embryo transfer: $8,000 to $12,000 per full cycle before Medicare rebate
Medicare rebate reduces out-of-pocket cost but significant gaps remain at each stage
Frozen embryo transfer cycles: $3,000 to $5,000
ICSI (intracytoplasmic sperm injection): additional $1,500 to $3,000 per cycle
Egg freezing and storage: $5,000 to $10,000 for egg collection plus annual storage fees
Donor sperm or egg programs: additional costs depending on clinic and donor source
Genetic testing of embryos (PGT): $3,000 to $5,000 per cycle
Male fertility treatment including TESA and PESA procedures
Vision Correction
LASIK laser eye surgery: $2,500 to $4,000 per eye
SMILE procedure: $3,000 to $4,500 per eye
PRK surface ablation: $2,000 to $3,500 per eye
Cataract surgery with premium lens implants: $3,000 to $5,000 per eye above Medicare/PHI coverage
ICL (implantable collamer lens): $3,500 to $5,000 per eye
Other Medical Procedures and Treatments
Bariatric surgery (gastric sleeve, bypass, banding): $12,000 to $25,000 out of pocket after PHI and Medicare
Orthopaedic surgery gaps: hip, knee, shoulder and spinal procedures not fully covered by health fund
Cancer treatment gaps: out-of-pocket costs for private treatment, specialist consultations and drugs not on PBS
Sleep studies and sleep apnoea treatment
Hearing aids and audiological treatment
Rehabilitation and physiotherapy following surgery
Mental health treatment: psychology, psychiatry and specialist therapy programs not fully rebated
Specialist consultations and second opinions
Prescription medications and ongoing treatment costs
Travel and accommodation for regional patients accessing metropolitan specialist care
Recovery support: nursing, home care and convalescence costs
Medicare, Private Health Insurance and Out-of-Pocket Gaps: The Reality
Understanding what Medicare and private health insurance cover is the essential first step in working out how much you may need to borrow. Most Australians significantly underestimate their potential out-of-pocket costs.
What Medicare covers and what it does not
Medicare covers procedures listed on the Medicare Benefits Schedule (MBS). The MBS lists the benefit payable for each procedure, which is a percentage of the Schedule Fee. When you are treated by a bulk-billing doctor, you pay nothing. When a doctor charges above the Medicare benefit, you pay the gap. Purely cosmetic procedures are not on the MBS and receive zero Medicare benefit. However, some procedures that appear cosmetic may have a medical component that makes them MBS-eligible: breast reduction surgery for women with significant physical symptoms, septoplasty for a deviated septum causing breathing difficulty, eyelid surgery where the excess skin genuinely impairs vision. Whether a procedure attracts an MBS item number is determined by your surgeon and your specific clinical circumstances. Always ask your surgeon whether any component of your procedure is MBS-listed before planning your financing.
Private health insurance gaps on in-hospital procedures
Private health insurance covers in-hospital accommodation and theatre fees to varying degrees depending on your policy. Most policies do not cover specialist fees above the MBS benefit, leaving a gap between what your surgeon charges and what the fund pays. For major elective procedures in a private hospital, the gap can be $2,000 to $10,000 or more depending on the procedure, the surgeon's fee and your fund. Hospital excess payments of $250 to $750 per admission also apply under most policies. Always request a written fee estimate from your surgeon's rooms including the Medicare and private health fund benefits and your estimated out-of-pocket before proceeding. Some surgeons participate in gap cover arrangements with specific health funds that reduce or eliminate the gap. Ask whether your surgeon has these arrangements before booking.
Dental: the most significant health fund coverage gap
Most Australians with dental extras cover are surprised by how small their annual benefit limit is relative to the cost of major dental treatment. A typical extras policy may provide $1,000 to $2,000 per year in dental benefits. A single dental implant costs $3,000 to $7,000. A full mouth implant solution can cost $20,000 to $50,000. Even with dental extras cover, the out-of-pocket gap for major dental work is almost always the majority of the total cost. Dental financing is one of the most common applications we receive.
IVF Finance: What You Need to Know
IVF is one of the most emotionally significant and financially complex medical decisions a person or couple can face. Understanding the specific cost structure helps in planning your finance requirements.
IVF cost structure and Medicare rebates
A full fresh IVF cycle in Australia typically costs $8,000 to $12,000 before Medicare rebates. Medicare rebates apply to MBS-listed fertility services including egg stimulation, egg collection, fertilisation and embryo transfer. After Medicare rebates and any private health fund contribution, the out-of-pocket cost for a fresh cycle is typically $3,500 to $6,000 depending on the clinic, the complexity of the treatment and your health fund cover. For couples who qualify for the Medicare Safety Net, costs in subsequent cycles may be lower as the safety net applies once a family reaches a cumulative threshold of out-of-pocket expenses in a calendar year.
Multiple cycles and cumulative costs
The average number of IVF cycles required before a successful pregnancy varies significantly by age and clinical factors. For women under 35, approximately 30% to 40% achieve a live birth from a single cycle. For women over 40, success rates per cycle are lower and more cycles may be required. The cumulative cost of multiple cycles including fresh and frozen embryo transfers, ICSI, genetic testing and repeat monitoring can reach $30,000 to $60,000 over a fertility treatment journey. Planning your finance for multiple potential cycles rather than a single cycle can reduce the need to arrange emergency additional finance mid-treatment.
Fertility treatment loans
A personal loan for IVF or fertility treatment is applied for and managed the same way as any other medical personal loan. There is no specialist fertility loan product. The loan is assessed on your income and credit profile and the funds are deposited to your account. Many couples finance individual cycles separately, topping up their facility between cycles. Others take a single larger loan at the outset to cover an anticipated multi-cycle treatment plan. We advise on both approaches based on your situation.
Clinic Payment Plans vs Personal Loan: An Honest Comparison
Many cosmetic surgeons, IVF clinics and dental practices offer their own payment plans or work with specific finance providers such as National Dental Plan, TLC Healthcare Finance or similar. These in-house plans can be convenient but deserve careful scrutiny before you commit.
Clinic-referred finance providers
Clinic-referred finance providers including TLC and National Dental Plan operate as intermediaries that offer financing specifically for medical and cosmetic procedures through networks of healthcare providers. These products can be appropriate but the range of lenders they access is typically much narrower than an independent broker's panel. The rates offered may not be the most competitive available and the interest-free promotional periods, if offered, carry the same deferred interest risks as any other in-store interest-free product.
What to check before agreeing to clinic-arranged finance
What is the interest rate after any interest-free promotional period and when exactly does it apply?
Are there monthly account keeping fees that apply regardless of the promotional offer?
What happens if the procedure is postponed, modified or cancelled after the finance is arranged?
Can you pay the balance early without fee?
Is the rate competitive compared to a personal loan from an independent lender on the open market?
A personal loan through an independent broker gives you the freedom to compare the full market, choose the lender with the most competitive rate and terms for your credit profile, and pay the clinic or provider directly without being tied to the clinic's preferred finance partner. For procedures above $5,000, comparing an independent personal loan against the clinic's finance option before committing is worth the time.
Medical Tourism: Finance and Risk Considerations
A significant number of Australians travel overseas for cosmetic surgery and certain medical procedures, primarily to Thailand, Malaysia, Turkey and South Korea, where costs can be 30% to 70% lower than equivalent private procedures in Australia. Personal loans can fund overseas medical procedures. However, there are specific risks associated with medical tourism that every borrower should consider honestly before proceeding.
What personal loans can fund for medical tourism
Procedure cost paid to the overseas clinic or hospital
International flights and accommodation for the patient and any companion
Recovery accommodation for the required post-operative stay
Follow-up care costs on return to Australia
Travel insurance (essential for medical tourism)
The risks that finance does not mitigate
A personal loan funds the procedure cost but does not reduce the following risks that are specific to overseas medical treatment: complications arising from the procedure that require ongoing treatment in Australia are generally not covered by travel insurance or by the Australian healthcare system at public rates for self-inflicted complications of elective overseas procedures; revision surgery required due to unsatisfactory outcomes must typically be performed in Australia at Australian rates; there is no access to the Australian Health Practitioner Regulation Agency (AHPRA) complaints process for overseas practitioners; and follow-up care continuity is more complex when your surgeon is in another country. These are genuine considerations that go beyond the finance decision and should inform whether the cost saving of overseas treatment justifies the additional risk profile.
Superannuation Early Release for Medical Procedures
The superannuation early release on compassionate grounds scheme allows Australians to access a limited amount of their superannuation for specific medical treatment costs in certain defined circumstances. This is administered by the ATO and involves specific eligibility criteria.
Eligibility for medical superannuation early release
You may be eligible to access super early on compassionate grounds for medical treatment that is not readily available to you through the public health system or your private health fund, that you or your dependant genuinely needs, and that you cannot afford without accessing super. The assessment is made by the ATO based on documented evidence from a registered medical practitioner. Not all medical or cosmetic procedures qualify and purely cosmetic procedures with no medical indication are very unlikely to be approved. The process involves an application to the ATO, supporting documentation from your treating doctor, and assessment of whether the treatment meets the legislative criteria.
Super early release is not a fast process and does not suit urgent treatment timelines. A personal loan is typically more practical for time-sensitive medical procedures. Super early release may be worth exploring as a complement to or replacement for a personal loan for larger, non-urgent procedures where you have adequate super balance and meet the eligibility criteria. Consult a financial adviser or the ATO's website at ato.gov.au before pursuing this option.
Cosmetic and Medical Loan Details
Loan Amounts
We arrange cosmetic and medical personal loans from $2,000 for minor treatments up to $75,000 for significant surgical procedures or complex multi-procedure treatments. The most common medical loan amounts in Australia range from $5,000 to $25,000, reflecting the cost range of dental implants, single cosmetic surgery procedures, IVF cycles and laser eye surgery. For major bariatric surgery or complex full-mouth dental rehabilitation, loans up to $50,000 or above may be required.
Loan Term
Cosmetic and medical personal loans are available over 1 to 7 years. Most borrowers choose 2 to 4-year terms, balancing manageable monthly repayments against a reasonable total interest cost. For IVF treatment across multiple cycles, a longer term of 3 to 5 years may reflect the extended nature of the treatment journey.
Interest Rates
Unsecured personal loan rates for cosmetic and medical procedures from our lender panel currently start from approximately 5.99% per annum for borrowers with excellent credit profiles. Typical rates for well-qualified applicants range from 8.99% to 11.99% per annum. For borrowers with impaired credit, rates range from approximately 14.99% to 29.99% per annum. Always compare the comparison rate, not just the headline rate, as it includes all fees and reflects the true annual cost.
Approval and Funding Speed
Most cosmetic and medical personal loan applications with complete documentation receive a conditional approval within 24 hours. Funds are typically transferred within one to two business days. For time-sensitive procedures where a surgical date is scheduled, we prioritise fast lender identification and submission to ensure funds are available when needed.
Frequently Asked Questions About Cosmetic and Medical Loans in Australia
Does Medicare cover cosmetic surgery in Australia?
Medicare does not cover purely cosmetic procedures that are performed solely to change appearance with no underlying medical indication. Purely elective cosmetic procedures including breast augmentation for aesthetic reasons, liposuction, facelifts and standard rhinoplasty have no MBS item number and receive zero Medicare benefit. However, some procedures that appear cosmetic may have an MBS-listed component if there is a genuine medical indication: breast reduction for documented physical symptoms, septoplasty for breathing impairment, eyelid surgery where excess skin genuinely obstructs vision. Whether any component of your procedure attracts an MBS item number is determined by your surgeon based on your specific clinical circumstances. Always ask your surgeon before planning your finance.
Can I use a personal loan for IVF treatment?
Yes. Personal loans are the most common finance product used for IVF and fertility treatment in Australia. A full fresh IVF cycle costs approximately $8,000 to $12,000 before Medicare rebates. After Medicare and any private health fund contribution, the typical out-of-pocket cost per fresh cycle is $3,500 to $6,000. Frozen embryo transfer cycles cost approximately $3,000 to $5,000 out of pocket. A personal loan can cover a single cycle or be sized to cover multiple anticipated cycles across a full fertility treatment journey. Funds are deposited to your account and you pay your clinic directly.
Can I get a loan for dental implants?
Yes. Dental implants are one of the most common uses for medical personal loans in Australia. A single dental implant including the implant post, abutment and crown typically costs $3,000 to $7,000. Multiple implants, All-on-4 or All-on-6 full arch solutions can cost $15,000 to $50,000. Most dental extras policies have annual limits of $1,000 to $2,000, which covers a very small proportion of major dental implant work. A personal loan covers the full treatment cost and makes repayments manageable over 2 to 4 years.
Can I get a cosmetic surgery loan with bad credit?
Yes. We have specialist lenders on our panel who consider applications from borrowers with impaired credit, prior defaults or a short credit history. The key factors are your current income and whether the proposed repayments are genuinely affordable. Rates are higher for impaired credit applications. We assess your situation and identify the most appropriate lenders before submitting any application, protecting your credit score from unnecessary declined applications.
Can I get a loan for laser eye surgery?
Yes. Laser eye surgery including LASIK, SMILE and PRK is not covered by Medicare (as it is an elective procedure) and is generally not covered by private health insurance under standard optical extras policies. The cost per eye ranges from approximately $2,000 to $4,500 depending on the procedure and the clinic. A personal loan for $4,000 to $9,000 covers both eyes and is repaid over 1 to 3 years at a manageable monthly payment that most patients find considerably less expensive than the ongoing cost of glasses and contact lenses over the same period.
Will my private health insurance cover my cosmetic procedure?
Private health insurance does not cover purely cosmetic procedures. Health funds cover medical and surgical treatment for illness and injury, not treatment that is solely for cosmetic purposes. Where a procedure has a genuine medical indication and an MBS item number, your hospital cover will typically contribute to in-hospital costs subject to your policy's terms, any applicable waiting periods and your annual excess. The surgeon's fee, anaesthetist's fee and any gap above the MBS benefit remain your out-of-pocket cost regardless of your level of cover. Request a written estimate from your surgeon's practice including the expected Medicare and fund benefits and your estimated out-of-pocket before proceeding.
Can I finance cosmetic treatment abroad?
Yes. A personal loan can fund the cost of cosmetic surgery or medical treatment overseas including the procedure fee, flights, accommodation and recovery costs. However, financing the procedure does not reduce the risks associated with receiving medical treatment outside Australia. These include complications that may require treatment in Australia at private rates, revision surgery needs, limited recourse through AHPRA, and disrupted follow-up care. If you are considering overseas treatment, discuss the risk profile honestly with your Australian GP and a trusted medical adviser before committing to an overseas clinic, regardless of the cost saving.
Can I use my superannuation for cosmetic surgery?
Super early release on compassionate grounds is possible for certain medical treatments that cannot be accessed through the public health system and that you cannot otherwise afford. The eligibility criteria are specific, the assessment is made by the ATO based on documented medical evidence, and purely cosmetic procedures with no medical indication are very unlikely to qualify. Super early release is not a fast process and requires substantial documentation. A personal loan is typically more practical for time-sensitive procedures. Consult the ATO's website at ato.gov.au or a financial adviser for guidance on your specific circumstances.
Can I get a mental health treatment loan?
Yes. Personal loans can fund mental health treatment costs including specialist psychiatry consultations, psychology therapy above the Medicare Better Access rebates (10 funded sessions per calendar year), inpatient mental health programs, eating disorder treatment programs, and specialist therapy not covered by Medicare or private health funds. Mental health treatment gaps are a significant and underacknowledged category of medical out-of-pocket expenses in Australia. We treat mental health treatment loan applications with the same confidentiality and sensitivity as all other medical loan applications.
What is the Medicare Safety Net and how does it affect IVF costs?
The Medicare Safety Net is a scheme that increases the Medicare rebate once a family's out-of-pocket costs for out-of-hospital Medicare services reach a threshold in a calendar year. For IVF patients, reaching the Safety Net threshold in one year means that subsequent out-of-hospital Medicare services including many fertility consultations and monitoring appointments attract a higher rebate for the remainder of that year. The Safety Net does not apply to in-hospital fees. Couples undergoing multiple IVF cycles in a single calendar year may benefit meaningfully from the Safety Net on their monitoring and consultation costs. Your fertility clinic can advise on how the Safety Net applies to your specific treatment plan.
How long does a cosmetic or medical loan take to approve?
Most cosmetic and medical personal loan applications with complete documentation receive a conditional approval within 24 hours. Funds are typically transferred within one to two business days of formal approval. For time-sensitive procedures where a surgical date is already scheduled and a deposit or full payment is due, we prioritise fast lender identification and submission. If you have an imminent payment deadline, let us know at the start of your enquiry so we can match you with the fastest available lender.
Can I include recovery costs in my medical loan?
Yes. A personal loan can cover all costs associated with a medical procedure including the surgeon's fee, anaesthetist's fee, hospital fee, post-operative garments, medications, follow-up consultations, physiotherapy, home nursing care, and any travel or accommodation costs for regional patients accessing metropolitan specialist care. There is no requirement to itemise costs when applying. The loan is assessed on your total borrowing need and your financial position.
What documents do I need to apply for a cosmetic or medical loan?
For a standard application: a valid Australian driver's licence or passport, recent payslips or 90 days of bank statements showing regular income, and your bank account details. For self-employed applicants: BAS returns and business bank statements or tax returns. You do not need to provide a treatment plan, medical report or clinic invoice to apply. The loan is assessed on your financial position only. Where a lender requires evidence of the intended use, a clinic booking confirmation or treatment quote is typically sufficient.
Can I get a bariatric surgery loan?
Yes. Bariatric surgery including gastric sleeve, gastric bypass and laparoscopic adjustable gastric banding is eligible for personal loan finance. Private hospital cover and Medicare rebates apply to the in-hospital and surgical components for most bariatric procedures, but the out-of-pocket gap including surgeon's fee, anaesthetist's fee and private hospital excess typically ranges from $5,000 to $15,000 depending on your fund and surgeon. A personal loan covers this out-of-pocket gap and is one of the most common applications in the medical loan category.
Should I take a loan for an elective cosmetic procedure?
This is a personal decision that only you can make, and it deserves honest reflection rather than a simple sales answer. A cosmetic surgery loan makes financial sense when the procedure has been genuinely considered over time rather than decided impulsively, when the repayments are comfortably affordable within your regular income, and when the procedure will genuinely improve your wellbeing or quality of life in a meaningful way. The decision becomes less financially sound when the procedure is driven by short-term emotional states, when repayments will create ongoing financial stress, or when you have not had a proper consultation with a qualified and accredited surgeon about realistic outcomes and risks. We can arrange the finance once you are confident in your decision, but we always encourage borrowers to make medical decisions based on professional medical advice rather than on financing availability.
Why Choose Australian Finance & Loans for Your Cosmetic or Medical Loan
Independent broker: we compare 50+ lenders and work for you, not for any clinic or healthcare finance provider
Finance for all procedure types: cosmetic surgery, dental, IVF, laser eye, bariatric, orthopaedic and mental health treatment
Understanding of Medicare, MBS item numbers and private health insurance gaps
IVF and fertility treatment experience: multi-cycle planning and flexible loan sizing
Confidential and sensitive handling of all medical loan applications
Bad credit considered: specialist lenders for impaired credit profiles
One credit inquiry: we compare across our full lender panel with a single assessment
Fast approvals: most applications receive conditional approval within 24 hours
Time-sensitive surgical dates: we prioritise speed when a procedure booking deposit is imminent
Melbourne-based team with national reach across all states and territories
