BEST OF

Best Personal Loans for LASIK Financing

An unsecured personal loan is one way to finance LASIK eye surgery. Compare your funding options.

Chanell AlexanderAug 11, 2021

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Laser-assisted in situ keratomileusis eye surgery — more commonly referred to as LASIK — can be a pricey procedure but worth the cost to correct vision issues. Because the procedure — which averages about $2,200 per eye — is often not covered by insurance, many people turn to LASIK financing.

A LASIK eye surgery loan, which is an unsecured personal loan that you use to pay for the procedure, can be a viable option, depending on the rate you qualify for and how comfortably the monthly payments fit in your budget.

But it can also be expensive, especially if your credit isn’t strong. It’s critical, therefore, to compare personal loans from multiple lenders as well as consider alternative financing options to find what works best for you.

Summary of Best Personal Loans for LASIK Financing

Our picks for

LASIK eye surgery loans

Upstart
Check rate

on Upstart's website

Upstart

4.5

NerdWallet rating 
Upstart

Est. APR

4.37 - 35.99%

Loan Amount

$1,000 - $50,000

Min. Credit Score

580
Check rate

on Upstart's website


Min. Credit Score

580

Key facts

A good option for new-credit borrowers seeking quick funding.

Pros

  • Accepts borrowers new to credit.

  • Able to fund loans within one business day.

  • Offers direct payment to creditors with some debt consolidation loans.

  • Allows borrowers to choose and change payment date.

Cons

  • Borrowers can choose from only two repayment term options.

  • Charges origination fee.

  • No mobile app to manage the loan.

Qualifications

  • Minimum credit score: 580.

  • Minimum credit history: None, this lending platform accepts borrowers with credit history too limited to produce a FICO score.

  • Minimum gross income: $12,000.

  • Employment: Full-time job, full-time job offer starting in 6 months, a regular part-time job, or another source of regular income.

  • Must have U.S. residential street address where borrower resides (unless military personnel on active duty).

  • Must be at least 18 years old.

  • Valid email account required.

  • Personal bank account with U.S. routing number required.

Available Term Lengths

3 to 5 years

Fees

  • Origination fee: 0% - 8%.

  • Late fee: 5% of past due amount or $15, whichever is greater.

Disclaimer

The full range of available rates varies by state. The average 3-year loan offered across all lenders using the Upstart platform will have an APR of 21.97% and 36 monthly payments of $35 per $1,000 borrowed. For example, the total cost of a $10,000 loan would be $12,646 including a $626 origination fee. APR is calculated based on 3-year rates offered in the last 1 month. There is no down payment and no prepayment penalty. Your APR will be determined based on your credit, income, and certain other information provided in your loan application. Not all applicants will be approved.

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Marcus by Goldman Sachs
Check rate

on Goldman Sachs's website

Marcus by Goldman Sachs

5.0

NerdWallet rating 
Marcus by Goldman Sachs

Est. APR

6.74 - 19.74%

Loan Amount

$3,500 - $40,000

Min. Credit Score

660
Check rate

on Goldman Sachs's website


Min. Credit Score

660

Key facts

Marcus targets good and excellent credit borrowers and offers no fees and a wide range of repayment terms.

Pros

  • No fees.

  • Wide variety of repayment term options.

  • Offers .25% rate discount for setting up autopay.

  • Offers direct payment to creditors for debt consolidation loans.


Cons

  • No co-sign, joint or secured loan option.

Qualifications

  • Minimum credit score: 660 FICO.

  • May need to provide proof of income, including recent pay stubs or bank statements.

  • May need to provide Social Security number, Individual Tax ID number or a photo ID.

Available Term Lengths

3 to 6 years

Fees

  • Origination fee: None.

  • Late fee: None.

Disclaimer

Your loan terms are not guaranteed and are subject to our verification of your identity and credit information. To obtain a loan, you must submit additional documentation including an application that may affect your credit score. The availability of a loan offer and the terms of your actual offer will vary due to a number of factors, including your loan purpose and our evaluation of your creditworthiness. Rates will vary based on many factors, such as your creditworthiness (for example, credit score and credit history) and the length of your loan (for example, rates for 36 month loans are generally lower than rates for 72 month loans). Your maximum loan amount may vary depending on your loan purpose, income and creditworthiness. Your verifiable income must support your ability to repay your loan. Marcus by Goldman Sachs is a brand of Goldman Sachs Bank USA and all loans are issued by Goldman Sachs Bank USA, Salt Lake City Branch. Applications are subject to additional terms and conditions. Receive a 0.25% APR reduction when you enroll in AutoPay. This reduction will not be applied if AutoPay is not in effect. When enrolled, a larger portion of your monthly payment will be applied to your principal loan amount and less interest will accrue on your loan, which may result in a smaller final payment. See loan agreement for details.

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Lending Club
Check rate

on LendingClub's website

LendingClub

4.0

NerdWallet rating 
Lending Club

Est. APR

7.04 - 35.89%

Loan Amount

$1,000 - $40,000

Min. Credit Score

600
Check rate

on LendingClub's website


Min. Credit Score

600

Key facts

A solid choice for fair-credit borrowers seeking co-signed or joint loans as well as a smaller loan amount option.

Pros

  • Offers co-signed and joint loan options.

  • Offers direct payment to creditors with debt consolidation loans.

  • Soft credit check with pre-qualification.

Cons

  • Borrowers can only choose from two repayment term options.

  • Rates are high compared to other fair-credit lenders.

  • Charges an origination fee.

Qualifications

  • Minimum credit score of 600. LendingClub uses FICO 8 credit scoring model.

  • Minimum credit history of three years.

  • Debt-to-income ratio of less than 40% for single applications, 35% combined for joint applicants.

Available Term Lengths

3 to 5 years

Fees

  • Origination fee: 1% to 6%.

  • Late fee: Greater of $15 or 5% of payment after 15-day grace period.

Disclaimer

A representative example of loan payment terms is as follows: you receive a loan of $13,411 for a term of 36 months, with an interest rate of 12.16% and a 5.30% origination fee of $711, for an APR of 15.99%. In this example, you will receive $12,700 and will make 36 monthly payments of $446.46. Loan amounts range from $1,000 to $40,000 and loan term lengths are 36 months or 60 months. Some amounts and term lengths may be unavailable in certain states. APR ranges from 7.04% to 35.89% and is determined at the time of application. Origination fee ranges from 3% to 6% of the loan amount. Lowest APR is available to borrowers with excellent credit. Advertised rates and fees are valid as of 7/1/21 and are subject to change without notice. Loans are made by LendingClub Bank, N.A., Member FDIC (“LendingClub Bank”), a wholly-owned subsidiary of LendingClub Corporation, NMLS ID 167439. Loans are subject to credit approval and sufficient investor commitment before they can be funded or issued. Certain information that we subsequently obtain as part of the application process (including but not limited to information in your consumer report, your income, the loan amount that your request, the purpose of your loan, and qualifying debt) will be considered and could affect your ability to obtain a loan from us. Loan closing is contingent on accepting all required agreements and disclosures at Lendingclub.com. “LendingClub” is a trademark of LendingClub Bank.

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Universal Credit
Check rate

on Universal Credit's website

Universal Credit

4.5

NerdWallet rating 
Universal Credit

Est. APR

8.93 - 35.43%

Loan Amount

$1,000 - $50,000

Min. Credit Score

560
Check rate

on Universal Credit's website


Min. Credit Score

560

Key facts

An option for bad-credit borrowers who want low loan amounts and payment date flexibility.

Pros

  • Offers rate discount with direct payment to creditors on debt consolidation loans.

  • Option to change your payment date.

  • Offers free credit score access.

  • Offers a .5% rate discount for setting up autopay.

Cons

  • Charges origination fee.

  • No co-sign, joint or secured loan option.

Qualifications

  • Minimum credit score: 580.

  • Minimum number of accounts on credit history: 2 accounts.

  • Maximum debt-to-income ratio: 75%, including mortgage and the loan you’re applying for.

Available Term Lengths

3 to 5 years

Fees

  • Origination fee: 4.25% to 8%.

  • Late fee: Up to $10.

Disclaimer

Personal loans made through Universal Credit feature APRs of 8.93%-35.93%. All personal loans have a 4.25% to 8% origination fee, which is deducted from the loan proceeds. Lowest rates require Autopay and paying off a portion of existing debt directly. For example, if you receive a $10,000 loan with a 36-month term and a 27.65% APR (which includes a 22.99% yearly interest rate and a 6% one-time origination fee), you would receive $9,400 in your account and would have a required monthly payment of $387.05. Over the life of the loan, your payments would total $13,933.62. The APR on your loan may be higher or lower and your loan offers may not have multiple term lengths available. Actual rate depends on credit score, credit usage history, loan term, and other factors. Late payments or subsequent charges and fees may increase the cost of your fixed rate loan. There is no fee or penalty for repaying a loan early.

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Discover
Check rate

on Discover's website

Discover® Personal Loans

5.0

NerdWallet rating 
Discover

Est. APR

6.99 - 24.99%

Loan Amount

$2,500 - $35,000

Min. Credit Score

660
Check rate

on Discover's website


Min. Credit Score

660

Key facts

Discover targets excellent credit borrowers with no fees, quick funding, and a variety of repayment options.

Pros

  • No origination fee.

  • Offers direct payment to creditors with debt consolidation loans.

  • Offers mobile app to manage loan.

  • Able to fund loans within one business day.

  • Wide variety of repayment term options.

Cons

  • Charges late fee.

  • No co-signed, joint or secured loan options.

  • No rate discount for autopay.

Qualifications

  • Minimum credit score: 660; borrower average is 750.


  • Must be a U.S. citizen or permanent resident.

  • Must be at least 18 years old.

  • Must have a minimum household income of $25,000.

Available Term Lengths

3 to 7 years

Fees

  • Origination fee: None.

  • Late fee: $39.

Disclaimer

This is not a commitment to lend from Discover Personal Loans. Your approval for a loan is determined once you apply and is based on your application information and credit history. Your APR will be between 6.99%-24.99% based upon creditworthiness at time of application for loan terms of 36-84 months. For example, if you get approved for a $15,000 loan at 6.99% APR for a term of 72 months, you’ll pay just $256 per month. Our lowest rates are available to consumers with the best credit. Many factors are used to determine your rate, such as your credit history, application information and the term you select. Not all applications will be approved.

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What is a personal loan for LASIK financing?

Unsecured personal loans are flexible financing because you can use them for almost any purpose, including LASIK. They don’t require collateral, and borrowers repay their loans in fixed, monthly installments that make budgeting more predictable.

And while personal loans can be expensive, starting interest rates for excellent-credit borrowers are typically lower than credit card rates.

You can get a personal loan from a credit union, bank or online lender. Factors like time to fund, rate ranges and loan amounts vary for each. To find a loan with monthly payments and rates that fit your budget, it’s best to compare offers from multiple lenders.

How to compare LASIK eye surgery loans

APR. Annual percentage rates on personal loans typically range from 6% to 36%, depending on your credit. The lowest rates go to borrowers with good to excellent credit (690 or higher on the FICO scale).

Fees. Some lenders charge a one-time origination fee, which covers the cost to process the loan. The fee is usually 1% to 10% of the loan amount, and most lenders subtract it from the total loan amount.

Loan amount. Personal loan amounts typically range from $1,000 to $100,000. Determine the amount you need to borrow for LASIK eye surgery before applying for a loan. Taking out too much funding means higher interest costs.

Loan term. This is the amount of time you have to repay the loan, usually two to seven years. A shorter repayment term means a lower interest cost but a larger monthly payment. Use NerdWallet’s personal loan calculator to see estimated payments with various repayment terms.

Time to fund. Once a loan application is approved, some lenders can disburse loan funds as fast as 24 hours, but some may take up to a week. Depending on when you need LASIK financing, time to fund could be a key factor to consider.

Pre-qualify for a LASIK eye surgery loan

Most online lenders allow you to pre-qualify to see a loan’s terms, interest rate and monthly payments before you commit. This typically involves a soft credit check, which doesn’t hurt your credit and allows you to shop around and compare loan offers from multiple lenders.

Pre-qualify with NerdWallet to compare lenders and receive personalized rates.

Alternative LASIK financing options

Consider these other financing options and ways to save before taking a loan.

  • Finance through the provider. LASIK surgeons may offer in-house financing, sometimes with no interest. Ask the provider for details, including repayment terms and fees.

  • Check for discounts with your health insurance provider. Even if they don’t cover the cost of the procedure, some health insurance companies will negotiate with LASIK providers to offer discounts to members that lower the procedure’s cost.

  • Medical credit cards. Some LASIK providers may accept CareCredit, a specialty medical credit card. The standard APR for CareCredit is 26.99%, but it also offers short-term financing options at 0% interest if paid in full by the end of the term (6, 12, 18 or 24 months). Check with your LASIK provider, as not all health care offices participate in the interest-free promotional period.

  • 0% interest card. If you have good or excellent credit (a FICO score of 690 and above), you may qualify for a 0% interest credit card. These cards have an introductory period — typically 12 to 18 months — when you won’t incur interest on purchases. However, you must pay off the balance before the period ends or you’ll be on the hook for the interest charges.

Last updated on August 11, 2021

Methodology

NerdWallet’s review process evaluates and rates personal loan products from more than 30 lenders. We collect over 45 data points from each lender, interview company representatives and compare the lender with others that seek the same customer or offer a similar personal loan product. NerdWallet writers and editors conduct a full fact check and update annually, but also make updates throughout the year as necessary.

Our star ratings award points to lenders that offer consumer-friendly features, including: soft credit checks to pre-qualify, competitive interest rates and no fees, transparency of rates and terms, flexible payment options, fast funding times, accessible customer service, reporting of payments to credit bureaus and financial education. We also consider regulatory actions filed by agencies like the Consumer Financial Protection Bureau. We weigh these factors based on our assessment of which are the most important to consumers and how meaningfully they impact consumers’ experiences. 

This methodology applies only to lenders that cap interest rates at 36%, the maximum rate most financial experts and consumer advocates agree is the acceptable limit for a loan to be affordable. NerdWallet does not receive compensation for our star ratings. Read our editorial guidelines.

To recap our selections...

NerdWallet's Best Personal Loans for LASIK Financing

Frequently asked questions