Medical Loans Australia | Quick Online Loans up to $10,000

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Fast Personal Loans

  • Smart and quick application form, which can be completed in minutes
  • 70% of applicants receive an outcome instantly
  • For applications that do not receive instant outcome, most receive a final outcome within 60 minutes!*

*During normal business hours.

Get fast medical loans with Nifty

Fast medical loans 

Whether it’s a small dental procedure or an elective surgery, medical expenses can really put a dent in your budget. If you are unsure where to turn, Nifty Loans offers fast medical loans up to $10,000. So, whether the procedure is small or large, Nifty may have a loan option to suit your needs.

What are medical loans?

Medical loans are a form of personal loan used to cover the cost of medical expenses. Loans for medical bills can be used for bills from $500 to $10,000 to be repaid over 6 to 24 months. 

Medical expenses can be very expensive. Medical loans can be used to take away this immediate financial burden to be repaid in smaller, more manageable instalments over time plus interest. Medical loans with Nifty fall into three categories: small loans, medium loans and large loans.

What type of procedures can I use a medical loan for?

You can use medical personal loans for any medical expense that costs money. You will just need to let us know what the medical expense is for and how much it will cost. Here are some of the most common reasons people apply for medical loans with us: 

  • Dental expenses (we offer Dental Loans up to $10,000)
  • Constructive surgery – knee reconstructions, hip replacements
  • Cosmetic surgery – liposuction, rhinoplasty, breast augmentation etc
  • Emergency/essential surgery – appendectomy, colectomy, gallbladder removal
  • Laser eye surgery
  • Non-surgical procedures – tests, x-rays, physical therapies
  • Medicines
  • Rehabilitation procedures – physiotherapy, speech pathologist, dietitian, occupational therapist

If you are receiving Centrelink benefits and need some extra money to cover your medical expenses, we may still be able to provide you with a medical loan. We consider most forms of Centrelink income as regular income. As long as you have been receiving your Centrelink payments for the last 90 days and meet the rest of our eligibility criteria, we may be able to provide you with a medical loan for Centrelink customers

Do you offer medical loans for people with bad credit?

Are you looking for medical loans for bad credit Australia? Here at Nifty, we like to take a more inclusive approach to lending. As long as you have the means to repay your loan, we may be able to provide you with a medical loan for bad credit. We must conduct a credit check by law, however, we will put more focus on your current financial situation. 

We use a bank statement service called Credfin to look at your bank statements and your current income and spending. If we believe that you can comfortably repay your loan, we may be able to provide you with a medical loan for bad credit. All applications are subject to assessment. We adhere to the responsible lending guidelines set by the ASIC, so we will never lend an applicant money they cannot afford to repay.

How it works

We are a 100% online lender, meaning that from application to approval, everything is done online. We offer three types of personal medical loans: small secured loans, medium loans and large loans.

  • Small loans are unsecured loans from $500 to $2,000. Repayment periods range from 6 to 9 months.
  • Medium loans are secured loans. This means that you must have an asset to use against the loan as collateral. These loans are between $2,001 and $4,600 and can be repaid over 9 months to 24 months. 
  • Large secured loans range from $5,000 to $10,000 and can be repaid over 9 to 24 months. 

For more information about our loan tiers and the fees and charges associated with them, please visit our costs page or use the loan slider

How to apply

Ready to apply for a same day medical loan with Nifty? Complete our quick and easy, 100% online application form by following these simple steps:

Step 1: Apply online

Use our loan slider to select how much you wish to borrow and over what repayment term. 

Step 2: We assess your application

Once we have received your application, our team of loan experts will begin processing. This can take just 1 hour if you apply within our business hours.

Step 3: We let you know whether your application is approved

If your loan is approved, we will get in contact to let you know. We will also let you know if your application was unsuccessful.

Step 4: If approved, review and sign your contract

We will send you a copy of your electronic contract. We suggest that you read your contract carefully and make yourself familiar with any terms and conditions that will apply to you. Once you have done so, sign and return your contract.

Step 5: Receive your money

Once we have received your signed contract, we will transfer your funds straight to your bank account. You could have your money within just 60-seconds.

Eligibility requirements

We have a few standard eligibility requirements that all of our applicants must meet. Please ensure that you can say ‘yes’ to the following:

  • You are at least 18 years old
  • You are an Australian citizen or permanent resident
  • You have had a consistent income into your bank account for the last 90 days
  • You have an active email address and mobile number
  • You have internet banking set up

Documents required

If you are looking for the fastest possible loan outcome, please ensure that you have all of these documents available when you apply. 

  • 100 points of identification
  • Your basic personal information (name, D.O.B, address etc.)
  • Online banking login details (so we can access read-only copies of your bank statements)
  • The reason for your loan application
  • Your myGov details (if you receive Centrelink benefits)

FAQs 

How much can I borrow?

You can borrow any amount between $500 and $10,000. You will repay this amount over your determined repayment period.

Do you conduct credit checks? 

We must conduct credit checks on all of our applications. However, we can be more lenient in regards to credit scores. We will focus more on your current finances by looking at your bank statements and assessing whether you can afford your monthly repayments. We may still be able to provide you with a bad credit loan

How do I repay my medical loan? 

We will set up a Direct Debit in line with your pay cycle. We will automatically debit your account on this day. When your loan has been repaid in full, the repayments will stop.

What are the fees and charges?

This will depend on how much you wish to borrow and your current financial situation. For a more detailed breakdown of our fees and charges, refer to our costs page.

Do you charge early exit fees?

We do not charge early repayment fees. If you wish to repay your loan before the term of your loan ends, you are free to do so. This can save you on monthly fees and interest.

Can I apply for a medical loan if I receive Centrelink payments?

We consider most forms of Centrelink income as regular income. If you have been receiving your payments for at least 90 days and meet our eligibility criteria, we may be able to provide you with a loan.

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Andy Andy

AUTHORITATIVE SOURCE

Andrew Bell

Since founding Nifty in 2016, Bell has continued to make waves within the local financial sector for his continued ambition and willingness to adopt emerging technologies.

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Loan Costs

Large Loans

Large Loan Example

$5,000 - $10,000

Loan amount:
$5,000
Terms:
9 - 24 months
Establishment fee:
Variable
Monthly Fee:
$0
APR:
21.24%
Comparison Rate:
48%**
View Example
Loan amounts:
$5,000
Terms:
18 months, (78 weekly repayments)
Establishment fee and Total Interest:
$1,897.54
Total payable:
$6,897.54
Weekly installments:
$88.43
View Loan Details

Medium Loans

Medium Loan Example

$2,001 - $4,600

Loan amounts:
$2,001 - $4,600
Terms:
9 - 24 months
Establishment fee:
$400
Monthly Fee:
$0
APR:
47.8%
Comparison Rate:
65.86%**
View Example
Loan amounts:
$2,500
Terms:
24 Months, (104 weekly repayments)
Establishment fee:
$400
Total other fees:
$1,609.44 (reducing interest)
Total payable:
$4,509.44
Weekly installments:
$43.36
View Loan Details

Small Loans

Small Loan Example

$500 - $2,000

Loan amounts:
$500 - $2,000
Terms:
12 months
Establishment fee:
20%
Monthly Fee:
4%
APR:
N / A *
Comparison Rate:
138.37%**
View Example
Loan amount:
$1,000
Terms:
12 Months, (52 weekly repayments
Establishment fee:
$200
Total other fees:
$240
Total payable:
$1,440
Weekly installments:
$35
View Loan Details

* Not applicable. Small loans do not charge an annual interest rate.

** WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate with the lender that finances your loan. Different loans may include other payable fees and charges. All fees and charges will always be displayed on your loan contract.