Representative example: The Smiths get IVF
John and Kelly are doing their first round of IVF treatment. When they take government grants, credits and private coverage into account, they will still need to cover $6,000.00 out of pocket (with the total IVF treatment costing $10,000.00). With $2,000.00 in savings, the couple will need to seek financial assistance in the form of a personal loan. Since they’ve both got excellent credit, the Smiths head to their bank and are approved for a $4,000.00 loan with a low interest rate and a 1 year loan term. Although the loan comes with an origination fee of 3.00%, the loan total is still cheaper than other loan offers they’ve prequalified for.
|Cost of IVF treatment||$6,000.00|
|Loan type||Personal loan|
|Loan term||1 year|
|Additional fees||Origination fee of 3.00% ($120.00)|
|Total loan cost||$4,229.16|
*The information in this example, including rates, fees and terms, is provided as a representative transaction. The actual cost of the product may vary depending on the retailer, the product specs and other factors.