Medical Loan in Singapore | Cover Your Hospital Bills
Need fast access to funds for medical expenses? Medical loans in Singapore provide a flexible solution to cover medical bills, procedures, and treatments without disrupting your daily finances. At 1-Money, applying for a medical loan is simple, fast, and transparent, making it easier for individuals to manage urgent healthcare costs.
(99% loan approval rate)*
What Is a Medical Loan?
A medical loan is a type of personal financing that helps you cover medical expenses, from routine procedures to urgent treatments. You borrow a fixed amount and repay it over a specified period, along with interest.
Medical loans can be used for a wide range of healthcare needs, including:
Elective Procedures
Cover the cost of optional treatments such as cosmetic or dental surgeries, vision correction procedures, or wellness therapies.
Emergency Medical Bills
Get financial support for urgent hospitalisation, surgical operations, or intensive care costs without delaying treatment.
Specialist Consultations & Treatments
Manage ongoing expenses for chronic conditions, physical therapy, or specialist medical consultations.
Medical Equipment & Supplies
Finance the purchase of essential items, such as mobility aids, hearing devices, and home healthcare equipment.
Why Choose 1-Money’s Medical Loans?
1-Money is a licensed moneylender regulated by Singapore’s Ministry of Law, providing accessible and transparent lending solutions tailored for medical treatment and procedures.
What makes us different:
Fast approval and funding
No hidden fees or unclear terms
Personalised loan options to meet any medical needs
Up to 24 months loan instalment plan
Who Can Apply for a Medical Loan?
Applying for a medical loan in Singapore is straightforward, with simple eligibility criteria designed to make access to financing fast and inclusive. Whether you’re managing a planned medical procedure or facing an emergency medical expense, you can apply as long as you meet the following requirements:
Age
You must be 18 years old and above.
Employment Status
Applicants should be either employed or self-employed with a stable source of income.
Residency
Open to Singapore Citizens, Permanent Residents (PRs), and eligible Foreigners (S Pass or Employment Pass) residing in Singapore.
How Much Can I Borrow for My Medical Loan?
The amount you can borrow for your medical loan depends on your annual income and ability to manage repayments. This ensures responsible borrowing while providing sufficient financial support for your healthcare needs.
Here’s a simple breakdown of the borrowing limits:
| Annual income | Singaporeans / Singapore PRs | Foreigners |
|---|---|---|
| Under $10,000 | $3,000 | $500 |
| $10,000 to $19,999 | $3,000 | $3,000 |
| $20,000 and above | 6X monthly salary | 6X monthly salary |
These limits are designed to help applicants borrow within their means while still providing enough flexibility to cover a wide range of medical expenses — from emergency hospital bills to planned treatments and follow-up care.
What Are the Necessary Documents for a Medical Loan?
Preparing the right documents helps speed up your medical loan application and ensures a seamless approval process. Depending on your employment and residency status, you may need to submit different sets of documents. Here’s a quick guide to what you’ll need:
For Singaporeans and PRs Employed (Full-time or Part-time):
- NRIC (Front and Back)
- Latest 3 months’ CPF contribution statements (Priority)
- Notice of Assessment (NOA) – may be requested
- Latest 3 months’ bank statements showing proof of income – may be requested
Self-Employed (e.g. commission-based earners, gig workers, freelancers)
- NRIC (Front and Back)
- Latest 3 months’ bank statements showing proof of income (Priority)
- Notice of Assessment (NOA) – may be requested
For Foreigners
- Valid work pass (S Pass/E Pass)
- Latest 3 months’ bank statements showing proof of income
- Proof of address (e.g. tenancy agreement, utility bills, phone bills)
What Our Customers Say
1-Money’s medical loans are trusted for fast approvals and reliable service.
3 Steps to Apply for a Medical Loan
Submit Your Application
Apply online via our website or visit our office with the necessary documents.
Verification & Discussion
Visit our office for face-to-face verification and discuss your loan terms and requirements.
Finalise & Receive Funds
Once approved, sign the loan contract and receive your funds via cash or bank transfer.
FAQs for Medical Loans in Singapore
How fast can I receive my medical loan?
Funds are disbursed immediately upon approval and signing of your contract.
What is the interest rate for medical loans?
Licensed moneylenders under MinLaw can charge up to 4% per month. 1-Money offers rates as low as 3.92% per month.
How can I improve my chances of getting approved?
Maintain a good credit score, provide proof of stable income, and submit accurate, complete information.
What is the repayment period for a medical loan?
We offer instalment plans of up to 24 months, subject to approval.
What types of repayment plans do you offer?
Flexible monthly and weekly instalments tailored to your financial needs.
Are there any charges for early repayment?
No. Early repayment is penalty-free.
How to choose the best licensed moneylender for a medical loan?
When comparing licensed moneylenders, consider these factors:
Check their legal status
Ensure the lender is a licensed moneylender like 1-Money. Check against the official list of lenders from MinLaw.
Read verified reviews
See 1-Money reviews to gauge customer experience.
Compare interest rates & terms
Look for transparency and flexible repayment options.
Consider customer service
Choose a lender who is responsive and easy to reach.
Compare loan options
Match loan size and repayment period to your needs.
How can I find out more about 1-Money’s medical loans?
You can contact us via phone, WhatsApp, or visit our office located at the address stated on our Contact Us page. Our team is always ready to do our best to assist you, whether you’re just exploring loans or looking to apply for one right away.
Are licensed moneylenders open on Sundays in Singapore?
Not all. Besides weekdays and Saturdays, 1-Money operates on Sundays, 11:00 am – 4:30 pm, ready to support your needs.
Get the medical care you need, fast.
Apply for a medical loan with us today.
*Subject to terms and conditions