CosmediLoans vs MediPay: Medical Financing Compared
Quick Verdict
MediPay is a clinic-integrated medical payment plan offered at the point of treatment, typically for $500–$50,000 across short interest-free promotional periods followed by a rate of around 14–20% p.a. after the promo ends. CosmediLoans compares multiple lenders for fixed-rate medical loans subject to lender assessment over 1–7 years. MediPay suits patients whose clinic already partners with MediPay and who can repay within the interest-free window; CosmediLoans is cheaper over 2+ years or when you want a single predictable fixed rate.
Feature Comparison
| Feature | CosmediLoans | MediPay |
|---|---|---|
| Maximum Amount | $2,000 – $100,000 | $500 – $50,000 (clinic-dependent) |
| Interest Rate | subject to lender assessment (fixed) | 0% during promo, ~14–20% p.a. after |
| Repayment Term | 1 – 7 years (fixed) | 3–60 months (varies by clinic) |
| Setup Fees | Varies by lender | $0–$99 establishment + ~$5/mo account fee |
| Availability | Any accredited clinic Australia-wide | Only clinics that partner with MediPay |
| Credit Check | Soft pull (no impact) | Soft pull |
| Approval Speed | Decision and funding timing depend on the lender, documents and assessment. | At point of treatment, typically minutes |
| Best For | Any procedure $2,000+, lowest long-term cost | Smaller treatments repayable inside the interest-free window |
How CosmediLoans Works
CosmediLoans connects you with a broker who compares fixed-rate medical loan offers across 20+ Australian lenders. Ask the broker which type of credit enquiry may be required, and provide consent only after the process is explained.
How MediPay Works
MediPay is a medical-specific point-of-sale payment plan offered inside participating clinics. You apply at the clinic reception or portal, receive a soft-check decision in minutes, and pay the clinic over an interest-free promotional period. After the promo ends (or if you miss a payment) interest applies retroactively or ongoing at a rate typically 14–20% p.a., plus establishment and monthly fees.
Who Should Use Which?
Choose CosmediLoans If…
- Your clinic does not partner with MediPay
- Your procedure costs more than the MediPay cap your clinic accepts
- You want a single fixed rate instead of a promo-then-retrospective-interest structure
- You'd rather amortise over 3–7 years than front-load repayments
- You want the lowest long-term cost rather than deferring the decision
Choose MediPay If…
- Your clinic already uses MediPay and you prefer a one-step checkout
- Your treatment is small enough that you can finish repayments inside the interest-free window
- You want to walk out of the clinic with finance arranged on the spot
- You're comfortable with revolving monthly account fees
Check your quote before choosing MediPay
Send through the treatment amount when you are ready. A broker can compare lender options before you commit to a clinic plan, BNPL option or credit card balance.
Check options for my quote
Submitting this enquiry is not a credit application