Grace Enfield, Content Writer
@grace_enfield
Yes, medical loans are a thing and are available from banks, credit unions, and online lenders. Medical loans are just general-purpose personal loans that can be used to finance costly medical expenses, such as surgery, fertility treatment, prescriptions and emergency room visits.
The best medical loans are from LightStream because the company offers loans of $5,000 - $100,000, with APRs of 5.99% - 24.49% and repayment periods of 24 - 84 months. You’ll need a credit score of 660+ to qualify, according to multiple third-party sources.
Best Medical Loans
| Lender | Loan Amounts | APRs | Repayment Periods |
| $5,000 - $100,000 | 5.99% - 24.49% | 24 - 84 months | |
| $5,000 - $50,000 | 7.99% - 29.99% | 24 - 72 months | |
| $2,000 - $50,000 | 8.99% - 35.99% | Up to 60 months | |
| $1,000 - $40,000 | 8.05% - 35.89% | 36 or 60 months | |
| $2,000 - $50,000 | 6.99% - 35.99% | 24 or 36 or 48 or 60 months | |
| $2,000 - $35,000 | 9.95% - 35.99% | 24 - 60 months |
For more information, check out WalletHub’s complete review of the best medical loans. Then, you can estimate your potential rates with our free pre-qualification tool.
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Do medical loans exist?
Yes, medical loans do exist, but most are just personal loans that can be used to cover the cost of medical expenses, such as a life-saving operation, a hospital stay or prescription drugs. You can get a medical loan from a bank, a credit union or an online lender. Hospitals... read full answer
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What kind of credit score do you need for a medical loan?
You need at least a 580 credit score for a medical loan in most cases, since most medical loans are just general-use personal loans with a different name. This means you can qualify for a medical loan with bad credit, but you’ll need a higher score to get a loan... read full answer
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