Is MediPay better than a medical loan for cosmetic surgery?

Only if your procedure is small enough that you can fully repay inside MediPay's interest-free promotional window. For surgery that costs more than you can clear in 12–24 months, a broker-matched medical loan at a fixed rate from 6.99% p.a. is almost always cheaper over the life of the balance.

Does MediPay hurt my credit score?

MediPay's initial assessment is a soft credit inquiry with no impact. Missed repayments or accounts sent to collections, however, can be reported to credit bureaus and damage your score. CosmediLoans' initial rate check is also a soft pull with no impact.

What happens if I can't repay MediPay inside the interest-free period?

Depending on the plan, interest may apply retroactively from the first day at a rate typically 14–20% p.a., plus any unpaid fees. This is how interest-free medical payment plans can end up costing more than a fixed-rate medical loan.

Can I use MediPay for dental implants?

Yes, if your dental clinic is a MediPay partner. For larger All-on-4 or full-mouth implant cases above the clinic's MediPay cap, a broker-matched dental loan covering up to $100,000 is usually the only complete option.

Which is more flexible — MediPay or CosmediLoans?

CosmediLoans is more flexible in amount ($2,000–$100,000), term (1–7 years), and clinic choice (any Australian clinic). MediPay is more flexible at the clinic counter if your clinic partners with them and your procedure fits their caps.

CosmediLoans vs MediPay: Medical Financing Compared

Last reviewed: 24 April 2026

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 20+ lenders for fixed-rate medical loans from 6.99% p.a. 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	From 6.99% p.a. (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	Same day	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. You submit one application with no credit impact, receive quotes, and fund the treatment directly — usable at any clinic that accepts bank transfer.

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

Related Procedures

Dental Loans

$3,000 – $50,000

Veneers Financing

$4,800 – $24,000

IVF Financing

$5,000 – $60,000

Frequently Asked Questions

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