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How to finance LASIK eye surgery

Finance your eye surgery so you never have to shell out for contact lenses again.

Paying for contacts, new glasses and yearly visits to the optometrist — all adds up. Getting laser eye surgery can save you a pile of money in the long run. But getting together the money to cover the immediate cost isn’t always that easy. Almost all insurance providers consider it an elective procedure so it mostly isn’t covered by insurance. Even if it is, it’s usually only partial coverage

If you’re looking to finance your eye surgery, read our guide. We break down your financing options and the costs of LASIK eye surgery so you can create a manageable payment schedule and get 20/20 vision.

Can I pay for LASIK eye surgery with a personal loan?

Yes. A common reason borrowers take out personal loans is to pay for cosmetic or elective procedures that aren’t covered, or are only partially covered, by insurance.

Some personal loan providers also offer financing specifically designed to cover the cost of cosmetic procedures. Often healthcare providers have partnerships with lenders to offer financing packages to patients. When looking for a loan, check with your LASIK center or eye doctor to see what types of financing they offer in addition to other personal loans.

Compare top online lenders

Name Product Interest Rate Loan Amount Loan Term Requirements Credit Score Link
LoanConnect Personal Loan
Secured from 1.90%, Unsecured from 5.75%-46.96%
$500 - $50,000
3 - 120 months
Currents debts must total less than 60% of income
Min. credit score: 300
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An online broker who helps inform clients towards better finances. Get pre-approved by different lenders for unsecured or secured loans in 5 minutes with any credit score.
goPeer Personal Loan
8.00% - 31.00%
$1,000 - $25,000
36 - 60 months
Recommended income of $40,000 /year
Min. credit score: 600
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More Info
Canada's first regulated consumer peer-to-peer lending platform offering unsecured loans. Connects creditworthy Canadians looking for a loan with Canadians looking to invest. goPeer strives to offer the most competitive interest rates. Apply in minutes and get a response within 24 hours.
Spring Financial Personal Loan
17.99% - 46.96%
$500 - $15,000
9 - 48 months
Min. income of $1,800 /month, 3+ months employed
Min. credit score: 400
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An online lender offering unsecured personal loans and credit builder loans. Those filing for bankruptcy or a consumer proposal can also apply. If you're not eligible for an unsecured loan, you may be offered a loan to help rebuild your credit.
ConsumerCapital Personal Loan
19.99% - 34.99%
$1,500 - $12,500
24 - 60 months
Min. income of $1,900 /month, 6+ months employed
Min. credit score: 600
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More Info
An online lender that provides fast unsecured personal loans. Complete an application in less than 10 minutes and get a decision within 24 hours. For faster loan approval, complete the Flinks bank integration in the app.
SkyCap Financial Personal Loan
12.99% - 39.99%
$500 - $10,000
9 - 36 months
Min. income of $1,200 /month, stable employment
Min. credit score: 550
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An online lender offering unsecured personal loans to borrowers with a wide range of credit scores. Apply in less than 5 minutes and if approved, receive financing in as little as 24 hours.
FlexMoney Personal Loan
18.90% - 46.93%
$500 - $15,000
6 - 60 months
Min. income of $2,000 /month, 3+ months employed
Min. credit score: 500
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An online lender offering flexible unsecured loans. Apply in less than 10 minutes and if approved, receive financing in as little as 24 hours. Pay off your loan at any time.
Loans Canada Personal Loan
Secured from 2.00%, Unsecured from 8.00% to 46.96%
$300 - $50,000
3 - 60 months
No min. income or employment requirements
Min. credit score: 300
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An online broker with the largest lender network in Canada. Get matched for free with lenders offering both unsecured and secured loans through one quick application regardless of your financial situation.
OFFER
Mogo Personal Loan
9.90% - 46.96%
$200 - $35,000
6 - 60 months
Min. income of $13,000 /year
Min. credit score: 500


Mogo offers a 100-day money-back guarantee. If you're not happy with your loan, pay back the principal and get your 100 days of paid interest and fees back.
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An online lender who aims for a hassle-free process through same-day unsecured loan approval and funding. Get a loan fast and track your credit score for free.
Fairstone Personal Loan (Unsecured)
26.99% - 39.99%
$500 - $25,000
6 - 60 months
Able to make monthly repayments on your loan
Min. credit score: 560
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An online lender with a team dedicated to professional service. Get a quote for an unsecured loan without impacting your credit score. Receive funds within as little as 24 hours. No prepayment fees.
Fairstone Personal Loan (Secured)
19.99% - 23.99%
$5,000 - $50,000
60 - 120 months
Must be a homeowner
Min. credit score: 560
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Use your home equity to get a secured loan up to $50,000 with flexible repayment options and a long loan term. Get a quote without impacting your credit score.
Loan Away Personal Loan
19.90% - 45.90%
$1,000 - $5,000
6 - 36 months
No min. income or employment requirements
Min. credit score: 300
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A lender that approves unsecured loans in as little as 20 minutes. Get affordable monthly repayments with any credit score.
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Representative example: Lisa gets LASIK

Lisa has worn glasses and contacts for over 20 years and has finally decided to take the plunge and get LASIK eye surgery. Since it’s an elective surgery, she will have to pay out of pocket – with the total procedure costing $3,000.00 ($1,500.00 per eye). She has $500.00 saved up, but will need to take out a loan to cover the remaining $2,500. She has a fair credit rating and some unpaid student debt, which doesn’t make her the best candidate for a loan from her bank. Instead, she heads online to compare lenders and finds one that offers her a competitive personal loan offer.

Cost of LASIK eye surgery$3,000.00
Loan typePersonal loan
Loan amount$2,500.00
Interest rate15.00%
Loan term1 year
Additional feesOrigination fee of 3% ($75.00)
Monthly payment $225.65
Total loan cost$2,782.75

*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.

How much does laser eye surgery cost?

Typical LASIK procedures can cost anywhere between a few hundred dollars to a few thousand dollars per eye, though the average cost sits around $2,000 per eye.

Costs will vary depending on the type of procedure you have and the surgeon you choose. Costs in Canada range from as low as $500 per eye to as high as $5,000 per eye.

How else can I pay for LASIK eye surgery?

You don’t necessarily need to take out a personal loan to cover your LASIK costs. Here are some of your other options:

  • A credit card. If you qualify for a credit card that has a low monthly APR, you might want to consider getting one to cover at least part of your LASIK costs — as long as you’re able to pay off your balance relatively quickly and the APR is lower than what you would get from a personal loan.
  • Save up. LASIK usually doesn’t cost more than $5,000 for both eyes and it’s not an urgent procedure. If you can deal with glasses and contacts for a little while longer, consider opening up a high-interest savings account and making monthly deposits toward your LASIK surgery periodically. Before you know it, you’ll have enough saved up.
  • Use your tax refund. Your tax refund might not be enough to cover the entire cost of the surgery, but it could put a big dent in it.
  • Discounts through your employer. Some LASIK companies have deals with large employers to provide discounted procedures. If you work for a large company, ask your HR department if a discount is available.
  • Ask friends and family. LASIK isn’t an incredibly expensive procedure, so your friends and family might be willing to lend you the money you need without interest. Keep in mind borrowing money and failing to pay it back from friends and family can cause relationship issues. Set repayment guidelines just as you would with a lender.
  • Find a promotion. Some LASIK centers have promotions year round offering discounted laser eye surgery. Just make sure it’s with a reputable surgeon.

FlexMoney Personal Loan

FlexMoney Personal Loan

From

18.9 % APR

rate

  • Same day funding
  • Quick online application
  • Pay off loan anytime

FlexMoney Personal Loan

Apply online in less than 10 minutes. If approved, receive funds in as little as 24 hours. Pay off your loan at any time.

  • APR: 18.90% - 46.93%
  • Loan amount: $500 - $15,000
  • Loan term: 6 - 60 months
  • Fees: No application, origination or prepayment fees
  • Min. credit score: 500
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5 tips for choosing a LASIK surgeon

The last thing anyone wants is to have their LASIK procedure botched by a surgeon with a poor track record — or no track record at all. Before choosing a surgeon, consider these key factors:

  1. Technology. Does your surgeon use up-to-date technology? You can usually find this information by calling or visiting their practice’s website.
  2. Experience. Look for a surgeon who specializes in laser eye surgery and has a long track record of successful surgeries.
  3. Certification and licensing. Check to make sure your surgeon is licensed to practice in your province or territory.
  4. Staff. Is the staff easy to reach and able to answer questions? Are they willing to put you in touch with your surgeon if needed?
  5. Reviews. What do past patients have to say? One bad review doesn’t mean anything, but consistent complaints could mean you should stay away.

Fun fact

Did you know LASIK stands for “laser-assisted in situ keratomileusis”? That’s the medical name for this vision-correcting eye surgery procedure.

Bottom line

LASIK eye surgery doesn’t need to break the bank. Personal loans and financing from your eye doctor or employer can make paying for your eye surgery a lot more manageable. While you might spend a little extra in interest, the amount you save on contacts and glasses might make it worth it.

Get started by asking your surgeon about financing options and checking out our personal loans guide to find the right loan for your financial situation.

Frequently asked questions

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