CreditMaster June 19, 2020
With the influence of social media, heavily filtered selfie applications and Korean pop culture, it’s unsurprising that cosmetic/plastic surgery is on the rise. We’re all wanting to look better not only for vanity’s sake but also because of the supposedly better job opportunities that good looks afford.
Although more and more Singaporeans are going for cosmetic surgery, the cost of plastic surgery remains high. The work done, pre-surgical and post-surgical support and care, as well as market competitiveness are all factors in the costing of procedures. Ball park figures are easy to come by, but if you are looking for specifics, you need to speak to a cosmetic surgeon. Ultimately, the cost of the procedure is dependent on each individual and whether any complications arise from the surgery.
Below is a list of the more commonly done cosmetic/plastic surgery procedures and an estimate figure of how much it’ll set you back by.
1. Double Eyelid Surgery/Blepharoplasty
This is probably one of the most popular forms of cosmetic/plastic surgery in Singapore. It seems as if Asians consider having double eyelids more attractive. Hence, some of those with mono-lids or less obvious double eyelids feel the need to go for double eyelid surgery. There are two main ways when it comes to such a surgery. The first method is when the doctor stitches your eyelids: a non-incisional and usually scar-less method. The second method is when your doctor makes an incision on the lid where you wish to form the crease to create permanent attachments between your eyelid skin and the underlying deep muscle. For the first method, the recovery downtime is about a week and about two to four weeks for the second method.
Cost: $3,2000 – $4,000 for non-incisional (stitching) double eyelid surgery, $5,350 – $6,200 for incisional (cutting) double eyelid surgery
2. Nose Thread Lift
This is a less major procedure and an alternative to rhinoplasty, albeit not permanent. This non-surgical procedure uses absorbable threads made from polydioxanone (PDO) that will be inserted horizontally into the nose bridge and vertically into the nose tip. The thread helps to contour and shape the nose to your desired state. However, this procedure is not permanent. After 6 to 8 months, the threads will dissolve and get dissolved by the body to simulate the production of collagen and tissue fibroblasts that will elevate the nose bridge for another 6 months. Nose thread lifts usually last for about 18 months.
Cost: $2,000 – $3,000
3. Breast Augmentation
Otherwise known as a “boob job”, breast augmentation can help to lift saggy breasts, resize mismatched ones and shape them. The 2 common ways to get your breast augmented is through breast implants or fat transfer. During a breast implant, the surgeon makes an incision on the underside of your breast and places a silicone/saline implant through this opening. Fat transfer requires the surgeon to take fats from other parts of your body and using them to enhance your breasts. The recovery downtime for this is relatively quick and you’ll be able to recover within 1 week, if no complications arise.
Cost: $15,00 – $16,000
4. Rhinoplasty/Nose Job
Who wouldn’t want a thin and high nose bridge for a more aesthetic looking face? This procedure is done to alter and enhance the look of your nose. It can correct issues such as a wide or crooked nose or improve the proportions of the nose. As Asians, most of us would probably be correcting a flat nose by raising the bridge and refining the tip. There are two types of rhinoplasty: the open and closed approach. During the open approach, the surgeon will make an incision on the skin between the nostrils or under the nose near the nostrils. As for the closed approach, the incision made is hidden inside the nostrils, hiding any scars.
Cost: $7,000 – $12,000
5. Liposuction
If there is a four lettered ‘F’ word that is taboo and out of limits, it’s got to be the word ‘Fats’. Unfortunately for women, we are biologically engineered in such a way that we store a lot more fats compared to men, resulting in them being deposited in areas such as the tummy, thighs and arms. Fortunately, liposuction can help to combat these stubborn fatty cells that don’t seem to go away no matter how much we try. What liposuction does is that it removes the excess fat cells in your body, giving yourself that aesthetically pleasing hourglass figure.
Cost: $15,000 – $20,000
Now that you have ascertained the cost of your surgery, your next step is to ask yourself a list of questions before you decide to go ahead with the surgery. Afterall, the surgery that you’re going to undergo is most likely going to be a permanent alteration on your appearance. Hence, it’s important that you have all your questions answered before going for the surgery. Below are a list of things that you might consider:
1. Standard Of Care
It is important for you to do some research on the clinic you want to settle on. Check out their website and visit their office before making any decisions. It is also important to find out whether they have the right licenses as well and the aftercare that they provide.
2. What The Procedure Entails
Knowing the name of the procedure and doing research about it is only the tip of the iceberg. It is important to ask your doctor to explain in detail on what you will be undergoing and most importantly, whether the procedure is going to achieve your intended result. You should also find out whether it is the correct procedure for which you seek enhancement for. For example, would a incisional or non-incisional double eyelid surgery suit you better.
3. The Risks Associated
This is a very important question that often gets overlooked. Though such common plastic surgery procedures usually goes well, it pays to know the risks involved. Risks like infections and scars are all possible. For instance, the scars might not always heal and end up in a nice fine line. Sometimes, the scars might even end up raised or widened.
4. Other Alternatives
Are there any alternatives to a procedure? For instance, instead of going for liposuction could you improve your diet and get more exercise? If you’ve already tried such methods and they don’t work, then plastic surgery might be worth considering. If not, you might want to consider tweaking your diet and exercising as an alternative to plastic surgery.
5. Financing Options
Plastic surgery procedures don’t come cheap. Moreover, your insurance policy will most likely not cover the cost of the surgery as it is considered a form of optional cosmetic surgery. Not going for the surgery will probably not have any averse effects on your health in any way. This is where you have to ask yourself what your options for financing are. One of the ways that you can finance your cosmetic/plastic surgery procedure is to opt for a plastic surgery loan.
Prior to settling on a particular lender for your plastic surgery loan, you need to take the following things into consideration:
1. Your Credit Score
It is important that you check your credit score because this will have a direct impact on the interest rate offered to you. With the score in hand, you can now find out whether you are eligible for the type of loan you want to get from the lender. With a good credit score, you may be eligible for low interest rates, cashback offers and fee waivers. All of these reduce the cost of borrowing.
2. Loan Tenure
It is important to have a rough idea of how long you would need to make the payment, but the best thing to do is to speak to the lender directly about tenure. If you choose to pay off the loan within a short period of time, you can be sure that your monthly payments will be higher. Unless you are confident that you can make those payments, you may find that honoring the payments may become difficult. It is important that you strike a balance with tenure because if you pay for a long time, you will end up paying more in interest. Consider your current financial situation, and what the bank is offering. Considering the high cost of cosmetic procedures in Singapore, a long tenure may help you spread out the payments, thus making it more convenient.
3. Interest Rates And Other Fees
The interest rates offered will vary depending on the loan you are taking. Medical loans, credit cards and personal loans can all be used to finance your procedure. However, the interest rates are not the same. Speak to the lender to get a true picture of what the interest rates will look like for you. While at it, consider penalty charges, other fees charged and any hidden costs associated with the loan. It is important to also find out how you can qualify for the various lucrative loan offers available.
4. Loan Terms And Conditions
Find out whether there are restrictions on how the money can be used if you are going with a personal loan. It is important that you consider the fine print and understand the terms and conditions of the loan. Find out whether there are penalties for early repayment, and whether or not you can make additional payments. Often, you can put in an online application and they can then contact you and let you know which supporting documents are required.
5. Debt Service Ratio
It is important to always borrow with the big picture in mind. In Singapore, one cannot borrow more than 60 percent of their gross monthly revenue. This amount is your absolute total and includes car loans, home loans, and any other loans you may take. If you are already too indebted, chances of getting a loan approval for the amount you need may be low.
You will need to be very keen and carry out loan comparisons in order to make sure that you get the very best deal for yourself. The comparisons go both ways as well. Not only do you need to compare loans, but you also need to compare clinics to make sure that you get the very best plastic surgery procedure available. There is nothing worse than taking a loan and getting a botched procedure.
With the right plastic surgery loan, that is the right terms, you can have your surgery and make affordable payments thereafter. The winning combination of a great plastic surgeon and great lender can turn your dreams into reality!
At CreditMaster, we believe in building long-term relationships with our clients. Our team of experienced professionals is always ready to provide personalised financial advice and assistance to ensure that our clients make informed decisions. We understand that each client's situation is unique, and we strive to tailor our services to meet their specific needs.
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