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Lendela is a digital loan matching platform that matches borrowers with personalised, pre-approved loan offers from multiple banks and licensed loan providers. With a single online application, Lendela’s unique matching model anonymises your personal information while allowing loan providers to generate a personalised rate in a matter of minutes, bringing your most competitive rates to you so you never have to search for them.

Unlike traditional comparison sites that simply list advertised rates, Lendela matches you with personalised, pre-approved loan offers through one single application. It’s important to recognise that advertised rates are not your personalised rates. Since interest rates and loan terms vary from person to person, your offers on Lendela take your unique situation and financial standing into account, offering you clarity when choosing your ideal loan. By bringing the most competitive personalised rates to you, Lendela also makes it cheaper, faster, and safer for you to borrow.

We also offer personalised customer service to every borrower who needs it, guiding you from application to disbursement and addressing uncertainties about the loan process, at no charge at all.

Lendela only partners with loan providers licensed and regulated by the MAS. This includes the largest banks in Singapore, such as Standard Chartered, CIMB, and DBS, as well as the biggest non-bank loan providers. By having a panel of over 50 licensed providers, Lendela ensures that you will always find your ideal loan option, safely and in a fraction of the time.

Lendela’s unique matching model anonymises personal information and shares just enough for our lending partners to generate a tailored offer for a particular borrower profile. Contact information is only shared with the chosen lending partner after you’ve accepted their offer and are ready to receive funds. As our lending partners are licensed and regulated by the MAS, they are legally required to observe the data protection laws of Singapore.

An application with Lendela is similar to most loan applications with banks, since borrowing is regulated the same way across the country. The key differences between an application with us and one made directly with a loan provider is that we match you with multiple personalised loan offers from over 50 banks and loan providers, and in a fraction of the time it usually takes.

Through a two-minute online application with Singpass, all relevant information required for our lending partners to generate a personalised offer unique to you will be automatically submitted. This includes, but is not limited to, income statements (payslips), a residential address, and your CPF contribution history. If you do not wish to submit an application via Singpass, you’ll be required to furnish these documents digitally.

Once you submit your application, our matching engine gets to work, and assuming all information has been provided accurately, you will be matched with personalised offers in as little as two minutes.

As with all loan applications with licensed providers, you will be expected to provide standard documents such as a proof of income (payslips, CPF contribution history), proof of a residential address, and your credit report to build your borrower profile and access the most accurate tailored rates. These are consistent across the lending industry in Singapore, and we strongly discourage applying for loans that do not require these same documents as they are likely to be from unlicensed and unregulated providers.

Additionally, we also recommend applying with Singpass to shorten the application process.

Once your application has been submitted with accurate information and all required documents, you will receive loan offers from our lending partners in as little as two minutes.

Upon accepting an offer from a bank, you’ll be able to receive the funds in your bank account in as little as 15 minutes. As local regulations require borrowers to physically verify their identities at non-bank providers, you’ll receive the funds when you arrive at their office after accepting an offer from a non-bank provider.

While applying directly with a bank or loan provider may be ideal for some, most borrowers recognise that comparing loan rates is an effective way to find their most competitive offer, which can often translate to thousands of dollars in savings on interest. However, it’s important to recognise that advertised loan rates are rarely your final rate. This leads most borrowers to apply across multiple banks and providers to “compare rates'', unknowingly hurting their credit scores since each loan application leaves a record on your credit report, sending a signal to banks that you might be a “financial risk”.

This is why instead of simply comparing rates, using a loan matching platform such as Lendela is the safer and quicker way to find your ideal loan. For more insight into the application process with Lendela, jump here.

If you have a loan application with us, we actively generate personalised loan offers in real time. Staying in touch with you allows us to keep you posted on new offers and next steps, so we may tailor our support in your loan journey. Deleting your account stops this process and you may miss out on offers tailored to your needs.

Alternatively, you may opt to pause communications at any time while keeping your loan options open on your application, and select a preferred loan offer at any time.

If you still wish to delete your account, please email [email protected] with the subject line "Account Deletion Request". Include your account details and a brief explanation for your request.

Our team will process the request and respond back when the deletion has been completed!

A personal loan is a type of unsecured loan that you can use for pretty much anything, unlike other types of loans that are tied to specific purposes, such as a mortgage for buying a house or an auto loan for purchasing a car. A personal loan is also unsecured, which means that no collateral is required. This is why approval is highly contingent on your creditworthiness and debt-to-income ratio, and also why personal loans generally have higher interest rates than secured loans.

Personal loans also generally have a quicker approval process when compared to secured loans.

Eligibility criteria varies from bank to bank. Apart from matching eligible borrowers with their personalised rates, Lendela also provides personalised customer service to borrowers who want answers to their questions. Below are some common eligibility criteria.

Age: Typically, you must be at least 21 years old. Some providers may have a maximum age limit, often around 65 to 70 years.

Income: Minimum income requirements vary by provider but generally range from $20,000 to $30,000 annually for Singapore citizens and PRs. For foreigners, the minimum income requirement is often higher, usually around $40,000 to $60,000 annually.

Employment: Stable employment is a key criteria of banks and loan providers. Most prefer borrowers who have been employed for at least three months. Self-employed individuals may need to provide additional documentation, such as tax returns.

Credit Score: A good credit score increases your chances of approval and getting favourable interest rates. Credit scores in Singapore range from 1000 to 2000, with higher scores indicating better creditworthiness. If you’d like to know more about improving your credit score, check out this article.

Typically, you can borrow anywhere from two to six times your monthly income, up to a maximum of $200,000. The exact amount you are eligible for often depends on your salary, your credit record, and other existing debt. On top of this, the Total Debt Servicing Ratio (TDSR) regulation in Singapore also means that your total monthly debt obligations cannot exceed 55% of your gross monthly income. This includes all loans such as home loans, car loans, and personal loans.

A personalised loan offer consists of an interest rate and loan terms that are unique to your borrower profile, which takes into account several factors including income, existing debt, length of employment, credit score, and many more. When looking for a personal loan, it’s important to recognise that advertised rates from banks and loan providers are not personalised, and are rarely the rates you will qualify for. This is why Lendela’s unique matching model matches you with your personalised rates from multiple banks and loan providers — so that you always get your most competitive rates delivered to you instead of having to search for them.

A credit check is a review of your financial history that banks and loan providers use to figure out your ability to repay a loan. Think of it like a report card, but instead of grading your schoolwork, it grades how well you've managed your finances. By looking at your credit history, they can see how reliable you've been in repaying past debts, which helps them determine the level of risk involved in lending you money.

As personal loans are unsecured (no collateral), banks and providers have to rely on your creditworthiness when assessing your ability to repay. This is why ensuring your credit score is in good shape before applying for a loan will significantly improve your chances of getting one at a favourable rate.