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Unexpected medical expense?

Medical expenses tend to creep up on us and saving up for surgery often isn't a feasible solution. That’s where our personal loans can help.

How does a medical loan work?

A medical loan is a personal loan that’s used to pay for surgery and medical expenses not covered by Medicare or your private health insurance.

You simply apply for the funds you need to pay for your treatment and repay the loan in easy-to-manage repayments. It’s that easy!

Medical loans from Great Southern Bank

Our personal loans come with:

  • Competitive low interest rates.
  • $0 monthly account fee.
  • Fee-free extra repayments.
  • No penalties for early payout.
  • Free redraw – in case you need your additional repayments.5
  • Get your loan funded on the day you apply.6See how it works
    What can I use a medical loan for?

    From essential procedures that can't wait, to boosting your confidence with cosmetic surgery, our medical loans fund a variety of medical services.

    Our customers have used medical loans for:

    • Audiology services
    • Bariatric surgery
    • Cosmetic surgery
    • Dental and orthodontics
    • ENT surgery
    • Elective surgery
    • Hair restoration surgery
    • Hip replacements
    • Laser hair treatments
    • Knee surgeries
    • Obstetrics
    • Orthopaedics
    • Respiratory condition treatment
    • Sleep apnoea treatment

    In need of something else? This list is not exhaustive and you can still apply or contact us via live chat if you have any questions.

    Take the stress out of doctor’s bills

    Use the personal loans calculator to estimate your repayments.

    Studying medicine?

    Read up on our education loans for medical students.

    Eligibility checklist

      You must be

    • At least 18 years of age
    • A permanent resident of Australia
    • Receive a regular income
    • Have not been bankrupt or insolvent in the last five years
    • You’ll need

    • An email address and contact number
    • Existing Great Southern Bank customer number (if you're already a customer)
    • Australian driver's licence, Medicare or passport details
    • Employment and income details
    • Details of any existing loans and expenses
      How to get a medical loan
      1. Apply online
      It should take less than 20 minutes.
      2. Approvals
      If approved, you will receive your loan contract to accept online. Get your loan funded on the day you apply.6

      See how it works.

      3. Access your money
      Your loan is paid into your Great Southern Bank account.7 You can also view repayment details online and on our mobile banking app.
      We've been putting customers first for more than 75 years.
      Flexible loan options
      Pay it off your way.
      Clever features to help you save money

      From competitive interest rates to no monthly fees, you’ll be saving smarter, not harder.

      We’re customer owned

      That means no shareholders. Our profits go back into new products and clever ways to help you manage your money.

      Choose the medical loan that fits you best

      Unsecured Fixed Personal Loan
      Loans from $5,000 to $65,000.3
      Interest rate
      Comparison rate 2
      Used for
      Unsecured Variable Personal Loan
      Loans from $5,000 to $75,000.4
      Interest rate
      Comparison rate 2
      Used for

      Get a detailed look into the features across all of our personal loans. Compare personal loans

      Medical loan FAQs

      It’s normal to take your time deciding which loan is right for you.

      If you’d like some assistance, call us on 133 282 for a chat.

      Can I make repayments on a weekly or fortnightly basis?

      Yes. Your loan contract will be set up for monthly repayments initially, but if you prefer to pay in weekly or fortnightly instalments simply call us on 133 282 or drop into a branch and we can arrange this for you.

      What’s the difference between a fixed rate vs variable rate loan?

      An Unsecured Fixed Personal Loan charges a fixed interest rate for the entire life of the loan. This means you’ll enjoy the certainty of always knowing how much your repayments will be. However, you won’t be able to take advantage should there be a decrease in the lending interest rates.

      An Unsecured Variable Personal Loan charges an interest rate that is subject to change. This means you could enjoy a lower rate, should the lending rates change. However, you could incur a higher interest rate if the lending rates increase.

      What is a comparison rate?

      A comparison rate encompasses the true cost of the loan, which includes the interest rate plus all the relevant fees and charges for a loan.


      Calculate your repayments

      Ready to apply?
      Your funds could be a few clicks away.
      Apply now

      Learn more about personal loans

      Handy tips to help you find the loan that's right for you.

      Applying for a personal loan – what’s the process?

      Do you need some money for personal reasons? A trip? Some renovations at home? How do you go about getting a personal loan? We can help.

      Read more

      I need $5K what are my options?

      When the unexpected happens and your savings can’t cover it, what are your borrowing options? We look at personal loans, credit card options and more.

      Read more

      Life emergencies you probably haven’t budgeted for

      Life can be full of twists. One day you're cruising, the next you're faced with empty toilet roll shelves at the supermarket. Read more here.

      Read more
      Get in touch
      We're here to help.
      Call 133 282

      Mon - Fri: 8:00am - 7:00pm (AEST)
      Sat: 8:00am - 4:00pm (AEST)

      Find a branch
      Speak to one of our friendly staff at a branch near you.
      Connect online
      Chat to us or browse help topics and FAQs.
      Important Information

      Loans are issued by Great Southern Bank, a business name of Credit Union Australia Ltd ABN 44 087 650 959, AFSL and Australian Credit Licence 238317. Lending criteria, limits, conditions and fees apply.

      Rates current as at 11 August 2022 and subject to change.

      Your loan contract will state the minimum monthly repayment amount. You can arrange with us to make repayments on a weekly or fortnightly basis.

      1. Comparison rate accurate for $30,000 secured loan over 5 years. WARNING: Comparison rates are 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.

      2. Comparison rate accurate for $30,000 unsecured loan over 5 years. WARNING: Comparison rates are 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.

      3. $3,000 minimum loan amount in branch, $5,000 minimum loan amount online. Available loan term is 1 to 7 years.

      4. $3,000 minimum loan amount and $100,000 maximum loan amount available in branch. $5,000 minimum loan amount and $75,000 maximum loan amount available online. Available loan term is 1 to 7 years.

      5. A $200 minimum withdrawal amount applies for redraws conducted in-branch. Redraw facility is available for Great Southern Bank Personal Loan products on offer from 6 June 2017.

      6. It may be possible to have your loan approved and funded on the same day! To be eligible you must submit your application online before 11am AEST Monday to Friday (excluding public holidays), provide all required information and documents upfront, and accept the loan contract by 2pm. Payment of funds same day is unavailable if your application is referred for more detailed assessment. Subject to system availability. Time to receive funds may be affected by your bank’s clearance times. Lending criteria applies.

      7. You will need to hold a Great Southern Bank everyday account when the loan is funded.