Lendela Singapore Review & Loan Comparison (2026)
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This page provides an independent, in-depth review of Lendela Singapore, explaining how the platform works, what borrowers should expect after applying, typical interest rates, safety considerations, and how Lendela compares with other alternatives.
Disclosure
PickMeALoan Pte. Ltd. is a loan comparison platform and not a lender. We do not issue loans, approve applications, or determine interest rates. We compare personal loan products from licensed banks and Ministry of Law licensed moneylenders in Singapore. Loan terms, approval outcomes, and interest rates are determined solely by the individual lenders and depend on each borrower’s financial profile. PickMeALoan may receive a referral fee from partner lenders when users choose to proceed with an offer. This does not affect how loan options are displayed or ranked.
What is Lendela?
Lendela is a personal loan matching platform operating in Singapore that connects borrowers with multiple lenders through a single online application. In essence, Lendela acts as a loan aggregator: you fill out one application (securely via Singpass MyInfo) and Lendela’s system forwards your profile to a network of partnered banks and licensed moneylenders. Eligible lenders then respond with personalised loan offers, allowing you to compare interest rates, tenures, and amounts side by side.
This service is designed for individuals seeking unsecured personal loans – whether for debt consolidation, emergency expenses, a large purchase, or other needs – who want to save time and find the best available loan terms without applying to many lenders one by one.
Borrowers commonly use Lendela to:
Compare personal loan offers from multiple banks and licensed lenders
Explore debt consolidation or refinancing options
Improve approval chances by submitting one application instead of approaching lenders individually
Save time by receiving matched offers instead of cold-applying
| Key Factor | Typical Range |
|---|---|
| Loan Amount | $1,000 – $10,000 |
| Interest (Flat) | Up to 4% monthly | Interest rates, fees, and repayment terms vary by lender and borrower eligibility |
| EIR | Up to 29.8% p.a |
| Minimum repayment period: | 61 months |
| Fees | Late payment fees and additional charges may apply depending on lender policies |
| Minimum Income | $3,000 |
How Lendela Works (Step-by-Step)
Online Application
Borrowers submit personal and financial details such as income range, employment type, and loan amount.
Loan Matching
Lendela’s system matches the borrower’s profile against participating partner lenders based on lender-defined eligibility criteria.
At this stage, lenders review anonymised borrower data and may return provisional offers.
Lender
Follow-Up
If matched, borrowers may be contacted by one or more lenders to continue the application, provide documents, and confirm final loan terms.
Approval & Disbursement
Final loan approval, interest rates, contract signing, and disbursement are handled entirely by the lender, not by Lendela.
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Is Lendela Legit and Safe in Singapore?
Lendela operates as a regulated loan comparison platform in Singapore and works exclusively with MAS-regulated banks and Ministry of Law licensed moneylenders.
Lendela itself does not lend money, set interest rates, or approve loans. PickMeALoan similarly does not lend money and does not influence lender approval decisions or pricing.
Important points to understand:
Lendela itself does not lend money
Final loan terms are determined by the lender
Borrowers may receive follow-up from multiple institutions
Any credit checks are conducted by lenders, not the platform
Which Type of Borrower Is Lendela Best For?
Lendela serves Singapore citizens and residents who are looking for personal loans and want a hassle-free way to compare options.
It’s especially useful for borrowers who:
Want the best interest rate or deal – By seeing offers from both banks and licensed moneylenders
Aren’t sure which lenders they qualify for – Lendela’s network includes both major banks (for which you typically need a higher income and credit score) and licensed private lenders (who may accept borrowers that banks reject, albeit at higher interest). This means even if your bank applications have been unsuccessful, Lendela might find an alternative.
Value convenience and speed – Instead of filling out separate loan forms for each bank, you submit your details once on Lendela and get multiple offers in return. This can greatly reduce the time and effort to secure a loan, as well as the stigma or stress of approaching multiple lenders individually
Lendela's strength is giving you a variety of choices; for some borrowers, that breadth might feel like it's too much, especially if you value a more streamlined & tighter process.
Lendela vs Other Loan Comparison Platforms
This comparison is based on publicly available information and typical borrower experiences across loan platforms in Singapore.
| Feature | Lendela | PickMeALoan |
|---|---|---|
| Platform role | Real-time loan marketplace (aggregator) connecting borrowers to many lenders | AI-powered loan matching & filtering platform |
| Lender matching | Partner banks and licensed lenders (broad network) | Curated network of lenders matched by AI (profile-filtered) |
| Application Process | SingPass-powered application; offers appear on dashboard and own app | Single Singpass application with AI; instant eligibility checks and upfront rate estimate |
| Interest rate visibility | Actual personalized offers shown on platform (rate confirmed when lender responds) | Upfront indicative rates provided; platform prioritises matching the lowest possible rate |
| Credit checks by platform | No, only lenders perform credit checks during final approval | No, any credit inquiry only by the eventual lender |
| Best suited for | Seeing as many options as possible, including bank & moneylender deals (comprehensive comparison) | Getting the lowest interest with minimal hassle, fast approvals, and data privacy |
PickMeALoan uses AI to match borrowers only with lenders they are more likely to qualify for, prioritising competitive rates and borrower privacy.
When Lendela May Be the Right Choice
Lendela may be suitable if you are:
A first-time borrower exploring multiple bank options
Comparing personal loans or debt consolidation plans
Comfortable receiving calls from several lenders after making an appointment
Willing to travel all the way to the lender's location to review final offers
Borrowers who prefer fewer callbacks or upfront clarity may prefer a different approach.
An Alternative for Borrowers Who Prioritise Lower Interest Rates, Faster Approvals, or Privacy-First Matching
Not every borrower wants to speak to multiple lenders before knowing whether a loan is realistically suitable.
Some prioritise lower interest rates, others value faster approvals, while some prefer a privacy-first loan-matching approach that limits unnecessary follow-ups.
Platforms like PickMeALoan are designed around these preferences.
Lower Interest Rates
PickMeALoan operates as an AI-managed digital platform, reducing acquisition and operational costs for lenders.
Lower costs allow lenders to offer more competitive interest rates to eligible borrowers.
Faster Approvals
AI automation replaces manual processing and hand-offs, allowing loan matching and assessment to happen almost instantly.
This significantly shortens approval timelines compared to traditional workflows.
Privacy-First Matching
Borrower information is shared selectively with relevant lenders, rather than broadcast widely.
This reduces callbacks, limits data exposure, and keeps the process discreet.
Frictionless, WhatsApp-First Experience
Offers are reviewed and progressed privately via WhatsApp, without portals, repeated logins, or pressure calls.
Borrowers can move forward quickly, at their own pace.
Frequently Asked Questions
Clear answers to help you secure the best personal loan deals in Singapore.
What is Lendela and is it a lender?
Lendela is a loan comparison platform that connects borrowers with banks and financial institutions. It does not issue loans directly.
Is Lendela legit and safe to use in Singapore?
Lendela works with regulated banks and financial institutions in Singapore. Loan approvals and terms are determined by the lender, not the platform itself.
Does applying through Lendela affect my credit score?
Lendela itself does not perform credit checks. Any credit assessment is carried out by the lender during the loan application process.
Why do some borrowers receive multiple calls after using Lendela?
Because Lendela works with multiple partner lenders, borrowers may be contacted by more than one institution if they match several lenders’ criteria and choose to make an appointment.
How does Lendela compare with other loan comparison platforms?
Lendela focuses on broad loan comparisons, while some alternative platforms prioritise fewer, more targeted matches. Each approach suits different borrower preferences.
Final Thoughts
If you’re considering Lendela, it helps to first understand how the platform operates and how it compares with other loan matching services in Singapore. Lendela is designed for borrowers who want to compare personal loan options across multiple banks and licensed lenders using a single application, without approaching each institution individually.
Lendela’s broad lender network can be especially useful if you’re exploring different loan structures or unsure which financial institutions you might qualify with. By consolidating offers in one place, the platform can save time and reduce the effort involved in searching for suitable loan options.
Before applying, consider:
Your Comfort with Lender Follow-Ups: Lendela may match you with more than one lender, which means you could receive follow-up communication from multiple institutions. If you prefer having several offers to review before deciding, this comparison-driven approach can be helpful. However, borrowers who prefer a single point of contact or minimal follow-ups may find this process less suitable.
What You Prioritise Most (Comparison vs Simplicity): If having visibility across different interest rates, loan tenures, and lender types is important to you, Lendela’s marketplace model offers that flexibility. On the other hand, borrowers who value a faster, more streamlined experience — with fewer choices and quicker decisions — may prefer a platform that filters options more aggressively upfront.
Your Financial Profile and Expectations: As with any loan platform, the quality of offers you receive through Lendela depends heavily on factors such as income level, credit history, and existing debt obligations. While Lendela can surface available options, final loan terms are determined by lenders, and results will vary based on individual eligibility.
Overall, Lendela is a well-established and one of the biggest loan comparison platform in Singapore that gives borrowers the ability to review multiple financing options before committing. If you’re still weighing which loan platform suits your needs, exploring more than one option can be a sensible approach, comparing available offers can help you make a more informed and confident borrowing decision.
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