Plastic Surgery Loan? Here's How to Get Approved Fast

Whether you're considering a facelift, breast augmentation, or another cosmetic procedure, the cost of plastic surgery can be daunting. Fortunately, financing options are available to help make your aesthetic goals attainable. If you're wondering whether you can get a loan for plastic surgery, you're not alone, and we're here to guide you through the process.

Understanding Loans for Plastic Surgery

Plastic surgery loans are a type of personal loan specifically designed to cover the costs of cosmetic procedures. Unlike other personal loans, these are tailored to meet the unique needs of individuals seeking elective surgery. The key to understanding plastic surgery loans is recognising that they function similarly to unsecured personal loans, meaning they typically do not require collateral.

Interest Rates, Requirements, and Options

Interest rates for plastic surgery loans in Australia can vary based on factors such as your credit score, income, and the lender you choose. As of 2026, you can expect interest rates to range between 6.49% and 12%.

Eligibility criteria typically include being over 18 years of age, having a stable income, and possessing a satisfactory credit rating. Each lender may have specific requirements, so it's crucial to review these details before applying.

How to Secure a Loan for Plastic Surgery

Securing a loan for plastic surgery involves several steps:

1. Research Lenders: Start by exploring various lenders, including banks, credit unions, and specialised finance companies. Esteb and Co offers access to over 83 lenders, increasing your chances of finding a suitable option.
2. Check Your Credit Score: Your credit score significantly impacts your loan approval and the interest rate you'll receive. Obtain a free credit report and address any discrepancies before applying.
3. Compare Loan Offers: Use the comparison table above to evaluate interest rates, loan terms, and any additional fees associated with different lenders.
4. Calculate Your Budget: Determine how much you can comfortably afford to repay each month. Consider your other financial obligations to avoid overextending yourself.
5. Submit Your Application: Once you've chosen a lender, complete the application process. Be prepared to provide personal identification, proof of income, and details of your current financial situation.
6. Review the Loan Agreement: Carefully read the loan agreement, paying attention to interest rates, repayment terms, and any penalties for early repayment.
7. Receive Funds: Upon approval, the loan amount will be disbursed, allowing you to proceed with your planned surgery.

Tips and Considerations

Before committing to a loan for plastic surgery, consider the following expert tips:

• Evaluate Necessity: Consider whether the procedure is essential for your well-being or purely elective. This can impact your decision on loan terms and urgency.
• Consult Multiple Specialists: Obtain quotes and opinions from different surgeons to ensure you're getting a fair price for the procedure.
• Consider Alternative Financing: Some clinics offer in-house financing or payment plans, which might be more favourable than a traditional loan.
• Be Aware of Extra Costs: Factor in additional expenses such as post-operative care, medications, and possible time off work.

Frequently Asked Questions

1. Can I use a personal loan for any type of plastic surgery?
   Yes, personal loans can be used for various cosmetic procedures, but it's crucial to confirm with the lender regarding any specific restrictions.
2. How quickly can I get a loan approved?
   Approval times vary by lender, but with complete documentation, you can often receive a decision within 1-3 business days.
3. Will applying for a loan affect my credit score?
   Submitting a loan application can result in a temporary dip in your credit score due to the hard inquiry, but timely repayments can improve your score over time.
4. Can I pay off my loan early?
   Many lenders allow early repayment, but it's essential to check for any associated fees or penalties.
5. What if my loan application is denied?
   Consider improving your credit score, reducing existing debts, or exploring alternative lenders from Esteb and Co's extensive panel.
6. Are there loans specifically for medical procedures?
   Yes, some lenders provide loans tailored for medical expenses, which may include lower interest rates and flexible terms.
7. Is it possible to use a credit card for plastic surgery?
   While possible, credit cards often have higher interest rates, making them a less cost-effective option compared to personal loans.