Can I get a loan for a specific brand like a pair of Phonak or Oticon hearing aids?

Absolutely. A personal loan provides you with cash, so you are not restricted to any particular brand or provider. Once the funds are in your account, you can use them to purchase any brand of hearing aid your audiologist recommends, including top brands like Phonak, Oticon, Widex, or Starkey. This flexibility is a key advantage over some in-house financing plans that may be tied to specific products.

What's the difference between a 'bilateral loan' for hearing aids and a standard personal loan?

Functionally, they are the same type of product: an unsecured personal loan. We use the term 'bilateral loan' to specifically address the need of financing a pair of hearing aids for bilateral hearing loss. The loan amounts, marketing, and educational content are all tailored to this specific use case, making it easier for you to find the right information and funding amount for your situation, which typically falls in the $4,000 to $12,000 range.

Does my health insurance coverage affect my loan for two hearing aids?

Your health insurance can affect the *amount* of money you need to borrow, but it doesn't directly impact your eligibility for the loan itself. We strongly recommend you first confirm your insurance benefits. If your plan covers, for example, $1,000 per ear, you would only need to apply for a loan to cover the remaining balance. The loan application process is separate from your insurance claim.

How quickly can I get funds for my hearing aid pair?

The process is designed to be fast. The initial online application to check your rate takes only a few minutes. If you are approved and choose to proceed with an offer, many lenders can deposit the funds directly into your bank account as soon as the next business day after you've completed the final verification steps.

Can I include the cost of fittings, adjustments, and accessories in my loan?

Yes. It's wise to finance the total cost of your hearing solution, not just the devices. This includes the audiologist's professional services like the initial fitting, programming, and any follow-up adjustments included in your purchase package. You can also include the cost of essential accessories like a charger, cleaning kits, or Bluetooth streamers. Make sure to get a comprehensive quote from your provider to ensure you borrow enough to cover everything.

Are there financing options for a hearing aid set if I have bad credit?

While a higher credit score will provide more options and better rates, some lenders in our network specialize in working with individuals with less-than-perfect credit. We cannot guarantee approval, but we encourage you to check your rate, as it won't impact your credit score. Lenders will consider factors beyond just your credit score, such as your income and overall financial stability.

Bilateral Loan for a Pair of Hearing Aids

Secure financing for two hearing aids to address bilateral hearing loss, with clear terms and predictable monthly payments.

Check your rate

Being told you need a pair of hearing aids to address bilateral hearing loss is a critical step toward reclaiming your quality of life. But the diagnosis is often followed by a jarring reality: the cost. High-quality hearing aids are a significant investment, and when you need two, that cost doubles. Many find that insurance offers limited or no coverage, leaving a substantial financial gap that can feel overwhelming.

The unique challenge of funding two hearing aids

Sticker shock from the cost of a pair, not just a single device.
Our network provides personal loans specifically sized to cover the cost of a full hearing aid set, from $4,000 to $12,000 or more.
Insurance coverage is confusing and often insufficient for two devices.
A personal loan provides the full amount upfront, so you can move forward without waiting for partial insurance reimbursements.
In-house financing from audiologists can have high interest rates or restrictive terms.
Comparing personal loan offers allows you to find the most competitive rate and a payment plan that truly fits your budget.
The pressure to choose a cheaper, less effective model due to budget constraints.
Secure the funds you need to get the hearing aids your audiologist actually recommends for your specific type of hearing loss.

What is a Bilateral Loan for Hearing Aids?

While the term "bilateral loan" in traditional finance refers to a loan between two parties, we use it here to describe a loan tailored for a specific medical need: bilateral hearing loss. This is an unsecured personal loan designed to cover the complete cost of purchasing two hearing aids. Unlike generic loans, this financing solution is structured around the typical costs and purchasing process associated with audiology services. It acknowledges that you're not just buying a product, but investing in a comprehensive hearing solution that includes devices, fittings, and follow-up care.

The primary advantage is flexibility. The funds are disbursed as a lump sum directly to your bank account, empowering you to pay your audiologist or hearing aid provider in full. This puts you in the position of a cash buyer, which can sometimes open the door to discounts. You are not tied to a specific brand like Phonak or Oticon, nor are you locked into your provider's financing plan. You have the freedom to choose the best technology for your needs and the best payment plan for your finances, managed through simple, fixed monthly payments over a term you select.

Example scenario

I was putting it off because the cost of two was just too much to handle at once. Getting a straightforward loan meant I could finally get the pair my doctor recommended without draining my savings. It's been life-changing.

Robert M.·Recently fitted for a hearing aid pair

The Application Process: Simple and Fast

How it works

1
Fill out one simple form
Our online form takes just a few minutes to complete. We'll ask for some basic information about you and your financing needs.
2
Compare your loan offers
If you qualify, you can see potential offers from our network of lenders. Compare APRs, terms, and monthly payments with no obligation.
3
Select your best option
Choose the loan that works for your budget. After finalizing your application with the lender, funds are typically deposited directly into your account.
4
Purchase your hearing aids
With funds in hand, you can confidently purchase the pair of hearing aids you need to improve your hearing and engagement with the world.

Understanding the Cost of Financing Two Hearing Aids

The cost of a single hearing aid can range from $2,000 to over $6,000 depending on the technology level. For a pair, you can expect to invest anywhere from $4,000 to $12,000. This price often includes not just the devices themselves, but also the initial consultation, professional fitting, and a certain number of follow-up appointments. When you're considering a loan, it's crucial to account for this total bundled cost. Below is a sample breakdown to help you visualize how a personal loan can make this manageable.

Example Cost for a Pair of Mid-Range Hearing Aids

Two mid-range hearing devices 2 × $3,250	$6,500
Professional fitting & initial programming	$500
Supply of batteries/charger and cleaning kit	$250
Follow-up adjustment appointments (1 year)	$400

Estimated monthly

$166/mo

Based on a $7,650 loan with a 5-year term at 11% APR

See what your payment could be

Check your personalized rate for financing a hearing aid pair. It's fast, free, and won't affect your credit score.

Check Your Rate

Typical Loan Parameters

Personal loans for hearing aids offer a clear and predictable path to funding. You'll receive a set amount of money upfront and pay it back with fixed monthly payments over a predetermined period. The rates and terms you're offered will depend on several factors, including your credit score, income, and overall credit history. A stronger credit profile generally leads to lower interest rates.

Loan amount: $2,000 – $50,000
APR: 7.99% – 35.99%
Term: 24 mo – 84 mo

Your actual APR will depend on factors like credit score, requested loan amount, loan term, and credit history. Only the most creditworthy applicants qualify for the lowest rates.

Comparing Your Financing Options

When facing a large expense like a pair of hearing aids, you have several ways to pay. A personal loan is just one of them. Understanding the pros and cons of each can help you make the most informed decision for your financial situation. Consider how factors like interest rates, repayment flexibility, and the total cost over time compare.

Personal Loan vs. Other Payment Methods

	Personal Loan	Audiologist Financing	Credit Card
Interest Rate	Fixed, competitive rates	Can be high; watch for deferred interest	Typically high variable rates
Payment Structure	Fixed monthly payments	Varies by provider	Variable minimum payment
Funding	Lump sum to your account	Direct payment to provider	Charged at time of purchase
Best For	Predictable budgeting and rate shopping	Convenience and point-of-sale offers	Earning rewards, if paid off quickly

Do You Qualify? What Lenders Look For

Common Eligibility Criteria

Credit Score: Most lenders look for a fair to good credit score (typically 600+). A higher score will increase your chances of approval and help you secure a lower interest rate.
Verifiable Income: You'll need to show a steady source of income to demonstrate you can afford the monthly payments. This can include employment wages, retirement income, or other sources.
Debt-to-Income Ratio (DTI): Lenders assess your existing monthly debt payments relative to your monthly income. A lower DTI ratio is generally preferred.
Credit History: A history of on-time payments and responsible credit management will strengthen your application.

If your credit profile is borderline, consider applying with a creditworthy co-signer to improve your chances of approval. Checking your rate with us does not impact your credit score.

Find out what you qualify for

It takes just a few minutes to see your personalized loan options for financing two hearing aids.

See My Options

Tips for a Smooth Financing Process

Securing financing for medical devices should be a straightforward process that reduces stress, not adds to it. By taking a few preparatory steps, you can navigate the process with confidence and ensure you find the best possible solution for your needs. Here are a few key considerations:

Get a Detailed Quote First: Before applying for a loan, get a complete, itemized quote from your audiologist. This should include the cost of both hearing aids, any fitting fees, warranties, and a package of follow-up visits. This ensures you apply for the correct loan amount.
Understand Your Insurance Benefits: Call your insurance provider to confirm exactly what, if anything, they cover for hearing aids. Even a small benefit can reduce the total amount you need to borrow.
Review Your Budget: Look at your monthly budget to determine a payment amount you can comfortably afford. Use an online loan calculator to estimate payments based on different loan amounts, terms, and potential interest rates.
Read the Fine Print: When you receive loan offers, pay close attention to the APR, the loan term, and whether there are any origination fees or prepayment penalties. The APR reflects the true cost of borrowing.

Ready to take the next step?

Start your application and we'll help guide you.

Get Started

Frequently Asked Questions

Can I get a loan for a specific brand like a pair of Phonak or Oticon hearing aids?
Absolutely. A personal loan provides you with cash, so you are not restricted to any particular brand or provider. Once the funds are in your account, you can use them to purchase any brand of hearing aid your audiologist recommends, including top brands like Phonak, Oticon, Widex, or Starkey. This flexibility is a key advantage over some in-house financing plans that may be tied to specific products.
What's the difference between a 'bilateral loan' for hearing aids and a standard personal loan?
Functionally, they are the same type of product: an unsecured personal loan. We use the term 'bilateral loan' to specifically address the need of financing a pair of hearing aids for bilateral hearing loss. The loan amounts, marketing, and educational content are all tailored to this specific use case, making it easier for you to find the right information and funding amount for your situation, which typically falls in the $4,000 to $12,000 range.
Does my health insurance coverage affect my loan for two hearing aids?
Your health insurance can affect the *amount* of money you need to borrow, but it doesn't directly impact your eligibility for the loan itself. We strongly recommend you first confirm your insurance benefits. If your plan covers, for example, $1,000 per ear, you would only need to apply for a loan to cover the remaining balance. The loan application process is separate from your insurance claim.
How quickly can I get funds for my hearing aid pair?
The process is designed to be fast. The initial online application to check your rate takes only a few minutes. If you are approved and choose to proceed with an offer, many lenders can deposit the funds directly into your bank account as soon as the next business day after you've completed the final verification steps.
Can I include the cost of fittings, adjustments, and accessories in my loan?
Yes. It's wise to finance the total cost of your hearing solution, not just the devices. This includes the audiologist's professional services like the initial fitting, programming, and any follow-up adjustments included in your purchase package. You can also include the cost of essential accessories like a charger, cleaning kits, or Bluetooth streamers. Make sure to get a comprehensive quote from your provider to ensure you borrow enough to cover everything.
Are there financing options for a hearing aid set if I have bad credit?
While a higher credit score will provide more options and better rates, some lenders in our network specialize in working with individuals with less-than-perfect credit. We cannot guarantee approval, but we encourage you to check your rate, as it won't impact your credit score. Lenders will consider factors beyond just your credit score, such as your income and overall financial stability.

Ready to hear clearly again?

Personal loan disclosure

Money Savvy is not a lender. We are a marketing service that connects consumers with participating lenders. Rates, amounts, and terms vary by lender, your credit history, and other factors.

Loan amounts: $1,000 – $100,000
Repayment terms: 3 – 84 months
Min APR: 5.99%
Max APR: 35.99%
Origination fees: 0% – 10% of the loan amount
Late fees: May apply; vary by lender

Representative example: A $10,000 loan with a 36-month term at an 18.99% APR would have an approximate monthly payment of $366.39 and a total cost of $13,190.04, including interest and a $500 origination fee.

Your actual APR depends on your credit score, income, and other factors. Only borrow what you can afford to repay.

California residents: California Financing Law disclosures available upon request.