Frequently Asked Questions

Here, we are answering the most frequent questions that we receive about Lendela, our loan application and personal loans in general. If you can't find the question and answer that you are looking for, please reach out to us anytime and we will assist you on your inquiry.

About Lendela

What does Lendela do?
Is Lendela a lender?
What is the difference between Lendela and a traditional loan comparison service like Singsaver or MoneySmart?
Who are Lendela's lending partners?
Does Lendela have a license?
What does it mean that Lendela is "independent"?
How is Lendela's service free of charge?

The loan application

Why should I try Lendela?
How do I apply for a loan?
Can I apply for a loan through Lendela several times?
Is my personal information secure with Lendela?
Am I eligible for a loan?
Will I be forced to choose a loan offer?

Loan conditions

What can I use the loan for?
How much can I borrow?
What will my monthly cost be?
Can I pay off the loan whenever I want?
Can I borrow money despite having debt?
When will I receive the money?
What will my interest rate be?
How do I get the lowest possible interest rate?

Financial terms

What does APR mean?
What is instalment?
What is a credit check?
What is an annuity loan?
What is a pre-approved offer?
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