Make your health a priority with a Spring Financial medical loan
For over a decade, Spring Financial’s medical loans have helped fund necessary and elective medical procedures and treatments. Don’t postpone essential health care. Our online application makes it easy to access up to $35,000, e-transferred directly to your bank account as soon as the same day you apply. Apply today.
How to pay for medical treatment in Canada?
Unsecured medical loan
Unsecured personal loans are a popular choice for Canadians with medical-related expenses. They offer flexible loan amounts that could cover anything from major surgeries to smaller treatments like medication and cosmetic procedures. Plus, these don’t require collateral, making them one of the safest and most convenient financing options to cover health costs.
Spring Financial has been providing medical loans to thousands of Canadians – often the same day they apply. Complete our 3-minute online application, and you could secure up to $35,000 with interest rates starting at just 9.99%. Apply now to see how much you qualify for.
Secured loans
These differ from their unsecured counterparts by requiring collateral, like your car or property. Since assets back these loans, they tend to feature lower rates. However, failing to meet the loan terms could result in collateral loss. This makes it imperative for the borrower to fully understand loan terms and stay organized with payments to protect the pledged collateral.
Insurance
Insurance through your province, employer or personal plan can help with medical expenses. However, coverage varies depending on your plan and the care you seek. Aesthetic treatments are usually not covered, while those deemed medically necessary by your doctor could be partially covered. It’s best to check with your provider for coverage details.
Medical installment plans
Like a personal loan, a medical payment plan breaks medical costs into smaller payments. However, they’re usually limited to cover specific treatments and are often provided by specific clinics, doctors or specialized lenders. Compared to personal loans, these plans usually have stricter terms and fewer options for early repayment, making them less flexible overall.
On the other hand, some online lenders like Spring Financial provide the flexibility to pay off your loan early without any penalties. You can access up to $35,000 with the option to use the funds to cover a wide range of needs, from medical expenses to vacations.