Personal Loans For Medical | Great Southern Bank

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Medical Loans

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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:

A personalised interest rate.
$0 monthly account fee.
Fee-free extra repayments.
No penalties for early payout.
Free redraw – in case you need your additional repayments.⁴

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.

Learn more

Studying medicine?

Read up on our education loans for medical students.

Learn more

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 10 minutes.
You will need proof of ID and your current financial situation.

2. Approvals

If approved, you will receive your loan contract to accept online.

3. Access your money

Your loan is paid into your Great Southern Bank account.⁵ You can also view repayment details online and on our mobile banking app.

Apply now

Continue existing application

WHY CHOOSE US

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 personalised interest rates to no monthly account 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.

A personalised rate* tailored to your credit score

MULTIPURPOSE

Unsecured Fixed Personal Loan

Loans from $5,000³ to $75,000.

Interest rate from

7.49

p.a.

19.99

p.a.

Comparison rate from²

7.74

p.a.

20.27

p.a.

Used for

Apply online Find out more

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.

What is a personalised interest rate?

A personalised interest rate is an interest rate based on an assessment of your credit score. If you have an excellent credit score and a good history of repaying loans, credit cards and other bills, you’ll likely be offered a lower interest rate.

When you apply for a personal loan your individual situation and your credit score will be considered when calculating your personalised interest rate.

Learn more with our guide to understanding our personal loan interest rates.

What is a comparison rate?

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

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.

CALCULATOR

Calculate your medical loan 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.

Tips on how to get a personal loan

Looking for a personal loan but unsure how to get started? We can help! This guide offers tips and advice for getting a personal loan.

How much do braces cost?

Do we offer a loan for braces? Yes, you can opt for a dental loan which can fund dental work that is not covered by Medicare or your private health insurance. Pay for any dental procedure & we’ve got you covered.

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.

Get in touch

We're here to help.

Call 133 282

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

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 29 November 2023 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 examples are accurate for a personal loan amount of $30,000 secured loan over a term of 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 examples are accurate for a personal loan amount of $30,000 unsecured loan over a term of 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. 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.

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

*The rate you are offered is calculated based on your personal circumstances and credit history. A few different factors are considered, including:

Your credit score.
Information provided in your application.
Existing loans.
The loan amount and your perceived ability to repay the loan.

Your personalised rate won’t be confirmed until you receive an offer from us (if approved) and is subject change before your loan settles.

Medical Loans

When doctor’s fees leave you feeling sick, our medical loans will do the trick.

Unexpected medical expense?

How does a medical loan work?

Medical loans from Great Southern Bank

Our customers have used medical loans for:

Eligibility checklist

You must be

You’ll need

A personalised rate* tailored to your credit score

Medical loan FAQs

Calculate your medical loan repayments

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