Can I use a personal loan for any type of cosmetic surgery?

Yes, you can generally use a personal loan for most types of cosmetic and plastic surgery, including elective and reconstructive procedures. However, some lenders may have restrictions around purely elective surgeries, so it's best to check with your lender before applying.

How much can I borrow for cosmetic surgery?

Most personal loans for cosmetic surgery range from $2,000 up to $75,000, depending on your credit score, income and the lender's criteria. The amount you can borrow will also depend on how much you can comfortably repay over the loan term.

Do I need to provide a medical quote when applying for a cosmetic surgery loan?

Some lenders may ask for a cost estimate or quote from your medical provider to confirm how much you need to borrow and what the funds will be used for. Others may not require documentation if the loan is unsecured.

Can I use buy now pay later (BNPL) services for cosmetic surgery?

A few clinics offer buy now pay later options for minor procedures, but most major surgeries require upfront payment. For larger costs, a personal loan or medical finance product is usually more appropriate.

Are there interest-free options for cosmetic surgery finance?

Some clinics and specialised medical financiers offer interest-free periods on smaller loans, often for 6 to 24 months. After that, a higher rate may apply. Always read the terms carefully to understand repayments once the interest-free period ends.

Will applying for a cosmetic surgery loan affect my credit score?

Submitting a full loan application will trigger a credit inquiry, which can temporarily lower your credit score. However, making on-time repayments can help improve your credit score over time.

Do I have to pay the clinic directly from the loan funds?

It depends on the lender. Some will transfer funds directly to the clinic, while others deposit the loan amount into your account so you can pay your surgeon yourself.

Is cosmetic surgery covered by Medicare or private health insurance?

Medicare and private health cover only apply in limited cases where surgery is medically necessary, such as reconstructive procedures after an accident or illness. Purely elective or aesthetic surgeries are not covered.

What are the risks of using a personal loan for cosmetic surgery?

The main risks include taking on debt you might struggle to repay, paying more in interest over time and committing to repayments even if you're unhappy with the results of your procedure. Always ensure you fully understand the costs and risks before applying.