Medical professionals are considered low risk borrowers by Lenders and are therefore in a unique position to get exclusive offers that are not available to other members of the public.

These offers include:

  • Significant interest rate discounts;
  • Lenders Mortgage Insurance waivers (borrowing up to 90% without paying LMI);
  • Fee waivers;
  • Higher LVRs (borrowing up to 105% of property value with a Guarantor loan); and
  • Higher maximum borrowing amount.

Medico varies from bank to bank so the type of discount will depend on the bank.

Types of medical professionals that are eligible:

  • Anesthesiologist
  • Anesthetist
  • Cardiologist
  • Chiropractor
  • Clinical Pharmacologist
  • Cosmetic Surgeon
  • Dentist
  • Dermatologist
  • Doctor
  • Ear and Throat Surgeon
  • Endocrinologist
  • Gastroenterologist
  • General Practitioner (GP)
  • Gynecologist
  • Intern doctor (internship)
  • Neurosurgeon
  • Obstetrician
  • Optometrist
  • Pharmacist
  • Psychiatrist
  • Veterinarian

Interns, residents, registrars and staff specialists are all eligible.

You must also be a member of an Australian or New Zealand medical association in order to be eligible.

Types of medical professionals that are not eligible:

Medico is not available to some medical professionals such as psychologists, medical research scientists, and naturopaths.

However, there may still be a reduced interest rate available to ineligible medical professionals that have a strong employment history and substantial savings.

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