Plastic surgeries have become quite common in Singapore. We often hear bloggers like XiaXue, Bong QiuQiu or Jacqueline Koh share about their experience with plastic surgeries and how such procedures enhanced their looks and confidence. Although there are many people engaging in it, healthcare providers do not have it covered as part of health insurance. If someone is interested in any cosmetic procedure, they will have the raise large funds required for the expensive procedures. Each procedure can cost from $1,000 to $15,000 and you might even be considering multiple procedures.


The average cost of plastic surgeries in Singapore: 

  • Liposuction ranges from $1,500 to $12,000 while a tummy tuck can cost around $6,000 to $9,000.
  • Eyelid surgeries can cost from $1,000 to $3,500 depending on the type of procedure.
  • Breast augmentation begins from $4,500 and can go up to $15,000.
  • Hair restoration. A procedure that is gaining popularity in Singapore especially for men. This procedure costs from $5,000 to $10,000.
  • Rhinoplasty (commonly known as nose jobs) and other ENT surgeries costs at least $5,000 to $12,000.
  • Cosmetic dentistry which includes teeth whitening. Each session cost an average of $400 and is required once every few months.

There are of course, many other procedures available. If you are reading this article, it probably means that you have already done your research and is clear on which procedure you want to get. You want to improve yourself or enhance your looks and there is nothing wrong with that. It is a personal choice. However, you might not have enough funds to get all the packages that you want.

In such cases, plastic surgery loans will definitely come in handy.

Plastic surgery loans can help you achieve your dream figure or features. It could be those scars that’s been bugging you for years, double eyelids that you have always wanted or a figure that you’ve always dreamed of. The loans lend a hand to those who may not have ready cash for the procedures. It is possible to look even better and there is nothing wrong with wanting to boost your self-esteem and confidence. If you have decided to undergo plastic surgery, it is best not to scrimp on the cost or procedure as it is going to have a huge impact on your life. Choose the best available option.


The funding options available in Singapore

The following options are what is currently available if one is to fund cosmetic surgery:

1. Personal Loans. One of the easiest ways to fund cosmetic surgery is to take out a personal loan. With this, you will need to put up security with an asset if you are looking for a secured loan, or you could go with an unsecured one. Unsecured loans do not require a ny collateral. You will need to consider the interest rates provided, whether they are fixed or variable. For fixed interest rates, you make the same monthly repayment for the entire tenure. Variable rates will cause your repayment fees to change over time. It is possible to pay off $100,000 in 1 to 5 years if you opt for a fixed rate loan. If you go for a variable interest rate loan, then you can pay it off in 1 to 7 years.

2. Credit card. Some people opt to pay for their cosmetic surgery using their credit card. You can choose to pay for the entire procedure this way, or just a portion of it. It is important to first confirm how much you will be paying in interest prior to using the credit card. Consider what the minimum payments will be once you have used it, and confirm that you can comfortably make the said payments. Alternatively, you can take a new card, especially one that offers 0% interest initially or cashback. Some of them even offer this for the first 12 months. Do note that the interest rates for credit cards are usually quite high and if one is careless, they may end up deep in debt.

3. Medical loan. Cosmetic surgery can also be covered by medical loans. There are a variety of lenders whose specialize in medical loans. They are familiar with the various procedures, and they also know what numbers they will be dealing with. These lenders tend to offer comfortable payment plans and can loan as much as $70,000. Their fees tend to be reduced, but one should be sure to check out the interest rates offered on these loans.


What to lookout for in order to get the best plastic surgery loan

Stop waiting. You already know the procedures that you want and you are aware of how this change can improve your life. If you are face difficulties raising the funds, you can get a plastic surgery loan to help you fulfill your dreams.

When selecting a loan, there are several things that must be reviewed. The review should include a comparison of the various financing options that you are considering. Here are some elements to keep an eye on:

  • Loan Amount. This is one of the most important elements. You must make sure that the amount of money you are borrowing can cover all your expenses. There are lenders who have set a minimum amount and also a maximum figure. Even so, your credit history will determine how much money they can lend you.
  • Terms of the loan. You want the terms to be realistic and comfortable for you, based on your current financial situation. This includes the loan repayment time and amount. You should have already thought through a timeline that works for you, as well as how much you can comfortably pay back every month. The period it takes to repay the loan will also affect how much interest you have to pay, as well as your monthly repayment amount.
  • Interest rate. When it comes to your interest rate, you will have the option of fixed vs. variable interest rates. Most people prefer a fixed rate because this rate remains the same throughout the repayment period. It thus enables you to plan your payments. The variable rate tends to fluctuate, which means that your monthly payments are not the same from month to month. Mostly, variable rates go hand in hand with a longer repayment period. Shop around different financial institutions to compare their rates and flexibility before settling on one.
  • Repayment options. This is something that you must choose based on your personal situation. The options are usually monthly, twice monthly or weekly payments. Do what works for you and your budget. It is important to note that there are some lenders who tend to be a lot more restrictive. If you are able to pay more or make additional payments, feel free to do so, but make sure that you will not be charged an additional fee or an early repayment for doing so.


What can I do if I already have a poor credit? Can I still get a loan?

Don’t worry. Just because you have poor credit doesn’t mean that you can’t get a plastic surgery loan. There are still financing options available to people with bad credit. However, some of the things to consider and pay special attention to are:

  • Prior to signing on the dotted line, it is important for someone with bad credit to be keen on the fees applicable. Some of the fees include loan administration fees, loan processing, missed payment, and early repayment fees.
  • Interest rate. If you have bad credit, you are considered a high-risk debtor. Often, you may find that your interest rate is slightly higher than that of people with good credit. It is therefore important that you take note of the interest rate. Calculate the entire cost of your loan to find out if you are able to make a smooth repayment.
  • Another thing to take note of is the restrictions placed by the lender. Some of these may include the fact that you must pay the loan as stipulated and cannot pay it off early or make any additional payments. Familiarize yourself with the loan restrictions, terms and conditions before getting one. And yes, this means that you have to read all the small print on their brochures and contract forms in order not to miss out any information.


What are the requirements for a loan application?

You will need to find a lender who offers credit card loans, personal loans or medical loans that you can use to finance the cosmetic surgery you are interested in. Select the financial institution that you are most comfortable with. Most of time, licensed moneylenders will have their loan products listed and explained on their websites. They will usually have a live chat function for you to clear your doubts. Otherwise, you can make a trip down to their physical store to understand more about loans and repayments.

Each lender will have different requirements. At Credit 21, we are already ready to lend you a hand in achieving your goals. Conditions are simple and our borrowers just need to be at least 21 years old, Singaporean or PR and is currently employed. If you already have bad credit, do not worry as well. The knowledgeable officers at Credit 21 will help you assess your current financial situation to plan the best financial package for you. This lowers the chances of you over-borrowing and risk harming your credit score and lifestyle.

These are the documents that we will require when applying for a loan:

  • Your personal details including your full name, proof of age and identity
  • You will be required to disclose financial details, including the debts you have as well as other liabilities. Asset information will also be important.
  • Your salary, or how often you get paid. This will mean that you will need to provide pay slips or in some instances, your CPF contribution statements. You can view your CPF statement here.

Plastic surgery is within reach for those who need it. If you have any questions on loans and interest rates, feel free to contact us for financial assistance today. It is time to make your transformation a reality!