Personal loans for medical bills
Some people use a personal loan to pay medical or dental bills. Costs vary widely, and a loan is only one option. Here's what to compare, the alternatives worth checking, and how checking your options with Lendara works.
What to expect when using a loan for medical bills
- Ask the provider for an itemized bill and check it against your insurance explanation of benefits before you decide how much to borrow.
- Many hospitals and medical offices offer payment plans, and some offer financial assistance. Compare those terms with a loan's APR, fees and total cost.
- Medical credit cards and deferred-interest offers can charge interest back to the start date if the balance isn't paid in full on time. Read the terms carefully.
- Each lender sets its own APR, fees and terms based on your credit history, income and the amount you request.
Estimate your monthly payment
Enter a loan amount, a term and an APR to see an illustrative fixed monthly payment and total interest.
Estimates only, based on the numbers you enter. Not an offer of credit. Lendara is not a lender.
How checking your options works
When you check your options for a personal loan for medical bills through Lendara, you answer a few questions about the loan you want, your income and your finances.
If participating lenders have options for you, you can compare them side by side: APR, fees, monthly payment, term and total cost. Nothing is accepted until you choose an offer.
If you decide to apply, the lender reviews your application, may check your credit, and decides whether to approve you and on what terms. Lendara doesn't make that decision.
Frequently asked questions
Should I use a personal loan or a provider payment plan?
Compare both. A provider plan may cost less if it charges little or no interest, while a loan gives you one fixed payment across several bills. Look at the total you would repay either way.
Can I negotiate a medical bill before borrowing?
Often, yes. Providers may reduce a bill, correct billing errors or set up a plan if you ask. Doing that first can lower how much you need to borrow.
Is Lendara a lender?
No. Lendara is a free marketplace that connects you with participating lenders. We don't make credit decisions or lend money.
Related guides
- How to Compare the Total Cost of a Loan (Not Just the Monthly Payment)
Why the lowest monthly payment isn't always the least expensive loan, and a step-by-step way to compare offers by APR, fees, term and the total you'll repay.
- Personal Loan vs. Credit Card: Which Costs Less to Carry a Balance
How carrying a balance on a credit card compares with borrowing the same amount through a personal loan: interest, fees, payoff timing and what to check before you choose.
- Loan Origination Fees, Explained
What loan origination fees are, how they factor into APR, and a simple illustrative example that can help you compare the true loan cost.
Lendara is not a lender and does not make credit decisions. Lendara is a free online marketplace that connects you with participating lenders, who set their own eligibility rules, rates, fees and terms. Lendara may receive compensation from partners, which may affect which offers appear and their order.