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What Zero Percent APR Installment Loans Mean for Your Practice and Future Patients

Calculator displaying the number zero.

November 29, 2021

Cost is usually the first thing that comes to mind when customers are shopping for a big purchase. This includes when they're searching for healthcare services. Budget can be a limiting factor for clients hoping to undergo a substantial healthcare procedure.

Financing options like installment loans can help ease this burden by allowing your patients the opportunity to pay over time. With that in mind, Ally Lending has decided to take things one step further by supplementing our traditional interest-based installment loans with 0% APR installment loans, giving patients the chance to pay over time for a product or service without paying any interest at all.

As a healthcare provider, offering financing solutions to prospective patients can help you attract new customers and boost sales. And with zero interest and less worry, you can provide your patients with the confidence they desire at a price point they can afford.

Create flexibility, capability and convenience for your patients

Potential clients shouldn't have to take on tremendously high interest to bring their medical visions to life. Unlike installment loans that offer an interest promotion, our interest-free installment loan is not a promotion with a specified term offering 0% APR. Clients can rest assured that no interest will ever be added or show on the borrower’s statement over the duration of the loan.

Offload some of the heavy lifting

Our interest-free installment loan financing option is merely an extension of our seamless financing experience that we offer providers.

Our program, designed with both you and your patient in mind, allows you to get paid up front and provides you the resources you need to generate interest, optimize approval rates and inform marketing initiatives, all with a dedicated team available to support you along the way.

To compliment your personalized financing program – leveraging consumer insights to support your business goals – 0% APR installment loans have been added as another tool that gets more of your customers approved for the financing they can afford.

Take financing to the next level

With 0% APR installment loans, you can build upon the convenience of conventional financing options while adding even more flexibility. After a patient is deemed eligible by first pre-qualifying (with no credit impact), they’re then set up with either a 6-, 12-, 18- or 24-month installment loan option, based on their qualifying factors, with no interest accruing over the life of the loan. Thus, clients will only repay their principal balance over time via a fixed monthly payment, with no pre-payment penalty if they decided to pay off the total amount sooner.

In addition to the more obvious benefits, interest-free installment loans can also:

  • Create a better financing option that earns repeat business and fosters loyalty

  • Deliver an excellent, simplified and understandable customer experience, decreasing confusion while increasing client satisfaction

  • Encourage add-ons and package purchases due to increased affordability

Interest-free financing option for patients

Unlike other financing options out there, this client-first offering isn’t deferred interest or a promotional rate. It’s a better, more flexible finance solution for healthcare providers, giving you an alternative option to deliver your patients affordable financing to cover procedures and make their healthcare goals a reality.

Note: At the moment, our 0% APR installment loan option is only available to select markets.

Make sure both your practice and new patients have flexibility, affordability and simplicity for your healthcare needs with Ally Lending’s 0% APR installment loans.

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