Compare
Personal Loans
with Lendela

Personal loans are amounts of money borrowed for personal use, such as paying off credit card debt, buying home gadgets, home or kitchen renovation, embarking on a special vacation, education, medical or wedding expenditure, or emergencies. They can be a good solution for individuals with financial issues that need to be resolved instantly, whilst enabling huge purchases and repayments at your own pace and in accordance with your personal financial circumstances.

It is time to get the hustles out of the personal loan application process, and Lendela is here to make it happen. When you use Lendela to apply for your personal loans, you can enjoy:

• Fast or even instant loan approvals

• Instantly discovering a variety of personal loan options from reputable and trustworthy banks and financial institutions in Singapore

• Access to the exact loan amount you need for your specific expenses, directly into your account

• Quick cash that you can pay back according to your preferred terms

Lendela is a Singapore registered company (UEN: 201801220D) approved by the Ministry of Law, and a member of the Singapore Fintech Association.

Lendela is not a loan provider – we connect customers to banks and financial institutions, all regulated by the Monetary Authority of Singapore (MAS) and Ministry of Law. As a fully independent loan matchmaking service, we can offer customers the best options to compare and find their best loan. Read more about Lendela in the news.

This is based on each bank's unique requirements, processes and eligibility criteria. We partner with multiple banks and financial institutions to increase your chances of getting approved; if one bank declines your application, you still have a good chance of getting offers by others.

Though, there are a few requirements when applying with Lendela:

• You have to be 18 - 70 years old

• You have to earn a minimum monthly income of $1,200

• You have to be a salaried Singaporean / PR / EP holder

The amount a certain individual can borrow depends on a few factors, such as credit score, financial history, any outstanding debts, and income. Different loan types also have various maximum amounts that can be borrowed. As a rule of thumb, you should only borrow the amount you really need when applying for a personal loan, as this will make it easier to repay your monthly instalments on time and not accumulate additional debt.

Personal Loan Calculator
Lendela’s Personal Loan Calculator can give you a clearer idea of the best loan for your specific needs and financial circumstances. This calculator presents information about your preferred tenure, interest rates and monthly repayment amount. It also enables you to compare different loans so you can identify your most suitable option.

All loan terms – such as rate, repayment period (tenure) and fees – are based on your application and unique profile. To get an overview of your potential loan terms, you should start by applying with Lendela. It is 100% free of charge and obligation-free.

It varies, depending on the different banks' processes. However, once your application is approved and you have chosen an offer, it normally takes between one hour and a day for the money to reach your account.

Comparing loan offers with Lendela makes it easy for you to land the best loan available to you in Singapore, and to do so quickly and efficiently. Why struggle to submit ten applications when Lendela can find you multiple loan options through just a single application? Submit your application, go on with your day, and let Lendela do the work for you. Other benefits of using Lendela include:

1. You only need to provide a few details.

2. Lendela partners with a long list of banks and financial institutions to get application approval as fast as possible.

3. By connecting with multiple banks and financial institutions, Lendela makes it easy to compare and identify personal loans with the lowest interest rates tailored to your profile.

4. You can find a personal loan regardless of credit score and credit history. Whether or not you have been rejected by a bank before, Lendela can help to revive your hope of getting the personal loan that you want.

You can use the loan for multiple purposes. Unsecured loans like personal loans are used to finance everything from weddings and travels, to home renovation and education. You can also use the money for unpredicted emergencies, to pay outstanding bills, or to consolidate existing debt. The choice is yours. Below are some loan types that you may have heard of, that are in fact just different kinds of personal loans:

• Debt consolidation loan (or debt consolidation plan)

• Credit card debt

• Student loan

• Cash loan

• Renovation loan

• Car loan (unsecured)

• Wedding loan

• Emergency loan (quick loan)

If you want more advice on personal loans in Singapore and how to ensure you get approved for the one of your choice, you can read more of our helpful blogs here:

• All You Need To Know About Credit Score

• Why Good Credit Reputation Is So Important

• Your Comprehensive Guide To Cash Loans In Singapore