Here’s what your loan options could look like

No. This loan preview is an illustrative estimate, not a loan offer, approval or quote.

It uses your answers and outcomes from borrowers with similar profiles to show the types of loan options you may see. To receive actual offers, you will need to complete a separate Lendela application. Any matches, rates and loan terms will depend on each lender’s assessment.

No. Using the loan preview does not trigger a credit check, affect your credit score or submit your answers to lenders.

Your answers are used only to generate the preview and are not retained after you leave the tool. If you continue to a Lendela application, that is a separate process, and the information you provide will be handled according to Lendela’s Privacy Policy.

Applying for a personal loan through Lendela starts with one online application. The exact process may vary by loan provider, but it generally works as follows:

1. You visit the Lendela website to fill out the short application.
2. Lendela uses a loan matching algorithm to match your application with different loan providers, and forwards it to those who are ready to serve persons with qualifications such as yours.
3. Offers are issued by multiple banks and financial institutions, and Lendela shows them to you.
4. Select the preferred offer, upload necessary documents and book your appointment with the selected bank for final approval and disbursement.
5. Sign the loan agreement and the funds are released into your account.

Submitting an application does not guarantee that you will receive an offer or be approved for a loan. You are also free to review your options without accepting any of them.

Lendela uses one application to match your profile with options from over 70 banks and licensed loan providers.

If matches are available, you can compare personalised loan amounts, monthly rates, repayment periods and estimated monthly repayments in one place. Matches may begin arriving within minutes, although the number, timing and terms will depend on each provider’s assessment. You can review your options without being required to accept one.

Applying for a loan through Lendela is simple and secure. With Singpass, you can speed up your loan application and start receiving loan offers in as little as minutes. Your personal information is important to assess loan eligibility with banks and other loan providers. Furthermore, all customer data is protected and contact details are not provided to third parties without the owner’s consent. Lendela goes beyond this standard protection by ensuring that both your information and communication are secure from unauthorised persons, such as hackers.

This gives you access to all your loan offers without any impact on your credit score, while keeping your information protected, and giving you the power to choose what works best for you.

In Singapore, the Ministry of Law is in charge of ensuring a sound legal and intellectual property infrastructure is in place. Lendela is allowed to assist borrowers by simplifying the process of the loan application. Indeed, Lendela becomes an important cog in Singapore's financial system because of the following actions:

• Lendela works only with banks and financial institutions: This implies that instead of trying to apply for a loan on your own and risk falling into the trap of unlicensed lending company, Lendela will help you pinpoint the legit ones.
• Lendela makes identifying good loan providers easy and fast: There are so many banks and financial institutions in Singapore, but identifying the right one for you can be really challenging since they all offer different terms. However, by applying through Lendela, you get to compare multiple banks and legit financial institutions to find the one that suits you the best.
• A sure way to avoid penalties by the Singapore administration: Did you know that it is an offence to borrow money or work with loan sharks? You can even be punished by the Singapore authorities, but there is a simple way of avoiding this – applying with Lendela.

To learn more about our company and mission, visit our About Us page.