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How to finance the cost of LASIK in Singapore

Finance your eye surgery so you never shell out for contacts again.

The cost of LASIK in Singapore can get up to $5,000 — and that’s a price that most insurance providers don’t cover. Read on to find out more about ways to finance the cost of LASIK without hurting your long-term finances, potential promotions to watch out for and exclusive tips for choosing the best surgeon.

What is LASIK?

LASIK is a procedure to treat common eye-related medical issues, such as myopia, long-sightedness and astigmatism. It’s considered to be a safe procedure, with minimal side effects that could include dry eyes and night vision (seeing occasional flashes of light). There are numerous variations of LASIK, including iLASIK which performs the surgery more intricately, and bladeless forms of LASIK that offer greater precision.

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.

Where can I get LASIK done in Singapore?

Here are some of the available places to get LASIK done in Singapore.

Public hospitals

  • Singapore National Eye Centre (SNEC)
  • National University Hospital
  • Tan Tock Seng Hospital

Private hospitals

  • Lang Eye Centre
  • The Lasik Surgery Clinic
  • Eagle Eye Centre
  • Eye Clinic Singapore International
  • Mt Elizabeth Eye Care Clinic
  • Gleneagles Hospital
  • Jerry Tan Eye Surgery
  • Shinagawa Eye Centre
  • Lee Hung Ming Eye Centre

What is the cost of LASIK in Singapore?

Costs are accurate as of April 2020 and are subject to change.

Typical LASIK procedures can cost anywhere between a couple hundred to thousand dollars per eye, though the average cost ranges from S$1,500 to S$2,500 per eye. This generally depends on what type of procedure you have. Here are some common LASIK prices in Singapore, which are exclusive of the initial consultation and aftercare fees:

Type of surgeryAvg cost for both eyes
LASIK with bladesS$3,000
Bladeless LASIKS$4,000
Custom LASIKS$4,000
PRKS$4,000
LasekS$3,000–S$5,000
EpiLASIKS$3,000–S$5,000

Some insurance companies partially subsidise the cost of LASIK surgery if you qualify for the prerequisites, but most insurance providers do not. On top of this, full subsidies for LASIK costs in Singapore are rarely offered by insurance providers.

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

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

Some personal loan providers also offer financing specifically to cover the cost of medical procedures. Often healthcare providers have partnerships with lenders to offer financing packages to patients.

Compare personal loans for your LASIK costs

Remember to check with your LASIK clinic about approved lenders before choosing a provider.

Name Product Interest Rate From Loan Amount Processing Fee
Standard Chartered CashOne Personal Loan
3.48%

EIR: 6.95%

S$1,000 – Up to 4x your monthly salary, subject to a cap of S$250,000
S$0
Get up to $1,200 cashback and Interest Rate as low as 3.48% p.a. (EIR 6.95% p.a.). T&Cs apply. Valid till 30 September 2021.
UOB Personal Loan
3.4%

EIR: 6.22%

S$1,000 – Up to 95% of your available credit limit
S$0
Get up to S$600 Cashback if you choose a loan of S$30,000 or more with a term between three and five years. This online offer ends on 30 September 2021.
HSBC Personal Instalment Loan
3.4%

EIR: 6.5%

S$1,000 – S$200,000
S$88
Apply online and get cashback of up to SGD3,100 on approval. Offer ends 30 September 2021. T&Cs apply.
DBS Personal Loan
3.88%

EIR: 7.56%

S$500 – Up to 10x your monthly salary
1% processing fee
Apply today and receive an interest rate from 3.88% p.a. (EIR 7.56% p.a), plus a 1% processing fee. Loans of up to 10x your salary may be available.
POSB Personal Loan
3.88%

EIR: 7.56%

S$500 – Up to 10x your monthly salary
1% processing fee
Enjoy a fast approvals service and an interest rate starting at 3.88% p.a. (EIR 7.56% p.a), plus a 1% processing fee.
Apply for a Personal Loan with Lendela
Apply for a Personal Loan with Lendela
5.3%

EIR:

S$1,000 – S$100,000
0
Receive a customised personal loan that meets your financial needs.
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Compare up to 4 providers

Is it easy to apply for a loan to cover the price of LASIK in Singapore?

Applying for a loan to cover LASIK costs in Singapore is relatively simple.

One option is to visit the loan office and apply for a personal loan in person. You may be asked to submit personal details including your name, address, and monthly income. Additionally, you will usually have to provide the clinic name and estimated LASIK costs.

For a more convenient option, try applying for a personal loan online instead. Some providers allow for applications that are completely based online, further offering quick turnaround. However, remember to check with your LASIK clinic about approved lenders before choosing a provider.

How else can I fund the cost of LASIK in Singapore?

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

  • Medisave. In general, Medisave cannot be used for cosmetic surgeries but there are a few exceptions to this. You can use Medisave to fund LASIK costs in Singapore if there is a difference of 300 degrees or more between your eyes, LASIK is performed to correct errors resulting from a previous surgery or your doctor can certify that you are at a health risk when using contact lenses and spectacles.
  • A new credit card. If you qualify for a new credit card with a 0% intro EIR, 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 before the intro period is up.
  • Installment payments. Some LASIK clinics offer installment packages for LASIK treatments. If a lump sum expenditure worries you, try this option instead.
  • Save up. LASIK typically doesn’t cost more than S$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.
  • 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 or benefits manager 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 loan you the money you need without interest.

Pro tip to fund the cost of LASIK in Singapore: look out for promotions

One possible way to reduce the cost of LASIK in Singapore is to look for promotions you’re eligible for. In some cases, such promotions might reduce the cost to the point that you won’t need to take up a loan, or alternative funding option, at all.

Some LASIK clinics have offered discounts to targeted patient groups. For example, at the time of writing (April 2020), The Lasik Surgery Clinic is offering a 7% discount to all students of the National University of Singapore. Select credit card providers have offered similar discounts as well, such as HSBC offering credit card-holders LASIK at Atlas Eye Specialist Centre for $2,999 and above.

Be on the look-out for such promotions before you apply for LASIK surgery in Singapore.

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. But you might wind up paying more than necessary if you go by reputation alone. Consider these key factors when deciding on a surgeon.

  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.
  3. Certification and licensing. Check to make sure your surgeon is both licensed to practice in Singapore.
  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.

Bottom line

LASIK eye surgery doesn’t have to be a huge one-time expense. Personal loans and financing from your medical provider 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.

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