5 Best Medical Loans in 2026

NerdWallet’s picks for the best medical loans

The top lenders for medical loans offer low rates, fast funding, a wide variety of loan amounts and flexible repayment options. Here’s what makes each lender stand out.

Discover: Best medical loan for good credit

If you have good credit, you’ll have a wider range of lenders to choose from since you’re a desirable loan applicant. We recommend Discover because of its affordable loans. Not only does this lender offer lower rates than its competitors, it also charges zero fees.

To qualify for this loan, you’ll need a credit score of at least 660, which is higher than many lenders.

SoFi: Best medical loan for fast funding

SoFi is one of the rare lenders that can send funds the same day you’re approved, as long as you sign the loan agreement by 5:30 p.m. ET on a business day. This can be crucial if you need money right away for a medical emergency.

SoFi does have a higher minimum loan amount — $5,000 — than most lenders.

Upgrade: Best medical loan for fair credit

Upgrade’s 600 credit score requirement means you can qualify even if your credit isn’t perfect, and you’ll still end up with a particularly flexible loan. This lender has a wide range of loan amounts and terms to choose from, and you can even add a co-signer or collateral to your application.

Note that Upgrade personal loans have origination fees up to 9.99%, which increase the cost of your loan.

Patelco: Best for small loan amounts

If you want to pay off a small bill, Patelco Credit Union offers loans as low as $300, which is hard to find among lenders. You can also pair your smaller loan amount with a relatively short term (starting at six months). And with rates maxing out around 18% APR, this is a cheaper option than putting the debt on a credit card.

Patelco requires you to become a credit union member to get a loan. But membership is accessible, and you can even check your potential rate before you join.

Upstart: Best for bad credit

Upstart considers loan applicants from across the credit spectrum, including if you have a low credit score or even no credit score. It uses alternative data points, like educational background and work history, to qualify applicants rather than relying mostly on credit scores.

A drawback of Upstart loans, however, is that origination fees can be up to 12%, which is higher than most lenders.

How we chose the best personal loans

Our team of consumer lending experts follows an objective and robust methodology to rate lenders and pick the best.

30+

Lenders reviewed

We review over 35 lenders, including major banks, top credit unions, leading digital platforms, and high interest installment lenders operating across multiple states.

25+

Categories assessed

Each lender is evaluated across five weighted categories and 27 subcategories, covering affordability, eligibility, consumer experience, flexibility, and application process.

60+

Data points analyzed

Our team tracks and reassesses hundreds of data points annually, including APR ranges, fees, credit requirements, and borrower tools, ensuring up to date, accurate comparisons.

Star rating categories

We evaluate more categories than competitors and carefully weigh how each factor impacts your experience.

Affordability

25%

We review lenders’ annual percentage rate offerings and the competitiveness of each lenders’ APR range. We also assess whether a lender charges an origination fee and any opportunity for borrowers to receive a rate discount.

Customer experience

20%

We consider the experience of the consumer trying to manage a personal loan, which means accessibility of customer service representatives, whether borrowers can choose and change their payment due date, and the ability to track their loan on a mobile app.

Underwriting and eligibility

20%

We consider the rigorousness of each lender’s underwriting practices and how widely available their loans are. This category includes whether a lender does a hard credit check before providing a loan, the range of credit profiles they accept and how many states their loans are offered in.

Loan flexibility

20%

We assess how flexible lenders can be with borrowers, including whether they offer multiple loan types, personal loan amounts and repayment term options and whether they offer direct payment to creditors on debt consolidation loans.

Application process

15%

We consider the lender’s full application process, including a borrower’s ability to preview their loan offer via pre-qualification, whether basic loan information such as APR range and repayment terms are available and easy to find online and how quickly a loan can be funded after approval.

5.0

Overall score

NerdWallet’s review process evaluates and rates personal loan products from more than 30 financial technology companies and financial institutions. We collect over 60 data points and cross-check company websites, earnings reports and other public documents to confirm product details. We may also go through a lender’s pre-qualification flow and follow up with company representatives. 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. Our ratings award fewer points to lenders with practices that may make a loan difficult to repay on time, such as charging high annual percentage rates (above 36%), underwriting that does not adequately assess consumers’ ability to repay and lack of credit-building help. 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.

NerdWallet does not receive compensation for our star ratings. Read more about our ratings methodologies for personal loans and our editorial guidelines.

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How to compare medical loans

Below are factors to consider when selecting the best medical loan.

Annual percentage rate. A loan’s annual percentage rate represents the true cost of borrowing, including interest and fees. APRs typically range from about 7% to 36% on personal loans. To get the lowest rates, you'll need excellent credit.

You can use APRs to compare different loan offers. The one with the lowest APR is generally the cheapest.

Origination fee. Some lenders charge one-time origination fees to cover the cost of processing a loan. If you have a bad credit score, you may receive a higher origination fee than borrowers with excellent credit.

Loan term. The length of the repayment period affects your monthly payments. A longer repayment term results in lower monthly payments but higher total interest paid over the life of the loan. Aim for a loan term with payments that fit within your budget.

Speed. If you need fast funding to cover health care costs, consider a lender with a quick approval and funding process. Some online lenders can provide loan funds as quickly as the same day.

» MORE: How fast can I get a personal loan?

Pros and cons of medical loans

How to get a medical loan

The process to get a medical loan is generally the same as for any personal loan:

1. Know your credit score

Your credit score is a key factor in determining whether you qualify for a loan. You can check your credit score for free on NerdWallet.

2. Figure out how much you can afford

Use a personal loan calculator to estimate monthly payments and determine whether they fit comfortably within your budget.

3. Pre-qualify and compare loans

Pre-qualifying lets you see potential loan terms, including the loan’s interest rate, loan amount and monthly payments, without impacting your credit score. Compare offers from multiple lenders and identify the best loan for your needs and budget.

4. Complete the application

Once you’ve decided on a lender, you can formally apply for the loan. Lenders typically send the loan proceeds directly to your bank account within a few days of approval.

» MORE: Requirements for a personal loan

How to get a medical loan if you have bad credit

If you have fair or bad credit (a 689 credit score or lower), you may receive a high APR on your medical loan, which means you’ll pay more in interest over the loan term.

Here's what that can mean for your costs: A five-year, $5,000 loan with a 21.99% interest rate would cost $3,285 in interest payments. The same loan at 36% APR leads to a total interest cost of $5,840, which is more than the original loan amount. Financial experts generally advise that APRs should not exceed 36%.

There are ways to improve your chances of qualifying and getting a lower rate if you have a low credit score. Here are a few steps you can take:

» MORE: Compare medical loans for bad credit

Alternatives to medical loans

Other ways to pay for medical procedures or pay off medical debt may be less expensive than a medical loan.

Payment plans

Some medical providers offer low-interest or interest-free payment plans directly to patients who can’t afford to pay in full. Many medical providers also use third-party financing companies to offer patient payment plans.

Third-party companies may offer temporary 0% financing and charge market interest rates or higher after the promotional period ends. These plans may charge deferred interest, which means if you haven’t paid the bill in full before the 0% financing period ends, you’ll owe interest that accrued from when you first started the payment plan.

Ask your medical provider about any fees or charges associated with the payment plan so you know the total cost of this option. Make sure you know whether you’ll owe your provider or a third party before you sign a financing agreement.

Credit card for medical expenses

CareCredit is one example of a specialty credit card to finance medical expenses. The card, issued through Synchrony Bank, is accepted by over 285,000 health care providers. CareCredit can cover medical events related to LASIK surgery, dentistry, cosmetic surgery and general health care.

If you’re approved, you may receive 0% interest for a promotional period of six, 12, 18 or 24 months for expenses of $200 or more. However, if the balance is not paid off by the end of the term, CareCredit will charge interest retroactively from the purchase date. The standard APR for CareCredit financing is 32.99%, which may be higher than rates on other credit cards.

» COMPARE: Best credit cards for medical expenses

0% credit card

A 0% interest credit card is an option that can include perks like a sign-up bonus and rewards. You’ll need good to excellent credit to qualify (a 690 credit score or higher). You must pay off the debt in full before the promotional period expires or the lender will start charging interest on your balance.

Work with a medical billing advocate

If you’re facing hospital bills, a medical bill advocate or patient advocate can help spot potential errors and negotiate on your behalf to reduce your total bill. Ask for an itemized bill from your health care provider, so you can verify each charge.

Hardship plans or financial assistance programs

If you're experiencing financial difficulties, you may qualify for a hardship plan from your health care provider. You could also be eligible for financial assistance from a charity organization or government program.

Nonprofit hospitals are generally required by law to provide financial assistance to patients who can’t afford to pay. Look into these options first before taking out a loan.

» MORE: Ways to pay off your medical debt