Through Lendela’s network of 70+ MAS-licensed partners, you can access:

• Personal loans (any purpose, up to S$200,000)
• Renovation loans — for home upgrades and repairs
• Wedding loans — for ceremony and honeymoon expenses
• Debt consolidation loans — combine multiple debts at a lower rate
• Medical loans — for treatment, surgery or hospitalisation
• Education loans — for tuition and professional courses
• Travel loans — for holidays and family trips
• Car-related personal loans

When you apply directly with a bank, you only get that bank’s offer. To compare, you must apply to multiple banks — each triggering a hard enquiry on your CBS credit report, which can negatively affect your credit score. Lendela’s advantage: one application, multiple personalised offers, no multiple credit enquiries. Banks compete to offer you the best rate through Lendela’s reverse-auction model. You also receive personalised customer service from Lendela’s team to help you compare offers — at no charge. The published rate on a bank’s website is rarely your actual rate; Lendela shows you your real personalised rate.

Warning signs of illegal lending or scams in Singapore:

• Any upfront fee before receiving your loan — strictly illegal under Singapore law
• Retaining your NRIC, passport, ATM card, SingPass ID or password
• Harassment, threats or abusive recovery practices
• Guaranteed approval without any document or credit assessment
• No MAS licence or Ministry of Law licence number stated
• Requests via SMS, WhatsApp or social media without a verifiable office address

• Step 1: Visit sg.lendela.com or download the Lendela app (Android or iOS). Free to use.
• Step 2: Complete the 2-minute online application using Singpass Myinfo. Your personal and income details are auto-filled from government records — no manual uploads needed at this stage.
• Step 3: Lendela anonymises your profile and sends it to relevant MAS-licensed lenders. You receive multiple personalised loan offers in your Lendela account — typically within hours.
• Step 4: Compare offers side by side: EIR, monthly instalment, processing fee, tenure. Lendela’s customer service team is available to help you understand the offers.
• Step 5: Accept the best offer. Upload any additional documents the chosen lender requires (payslips, CPF history).
• Step 6: Sign the loan agreement digitally or book an appointment. Funds disbursed directly to your bank account — as fast as 1 hour for eligible bank partners.

EIR (Effective Interest Rate) is the true annual cost of your loan, including: the headline interest rate, processing fee, and the compounding effect of monthly repayments. MAS requires all Singapore banks and licensed lenders to publish the EIR. The flat rate — used in most bank advertisements — is calculated on the original loan amount for the full tenure. This understates the true cost significantly. For most bank personal loans, the EIR is roughly 2–3× the advertised flat rate. Always compare EIR — not flat rate. Lendela displays EIR on all personalised offers, making side-by-side comparison straightforward and fair.

• Comparing only the flat interest rate — always compare EIR, which includes fees and is the true cost mandated by MAS.
• Applying to multiple banks individually — each formal application triggers a hard CBS enquiry, reducing your credit score. Use Lendela to compare with one application.
• Paying any fee before receiving your loan — illegal in Singapore. Any lender requesting upfront payment is unlicensed.
• Over-borrowing: keep monthly repayments within 30% of your net monthly income and total debt obligations below the MAS TDSR cap of 55% of gross income.
• Not checking the lender’s MAS or Ministry of Law licence before sharing your NRIC, FIN or SingPass credentials. Verify at mas.gov.sg and mlaw.gov.sg.

• Age: 21 years and above (some lenders up to 65–70 years)
• Residency: Singapore Citizen or Permanent Resident
• Income: minimum annual income S$20,000 (requirement varies by lender)
• Documents: NRIC, Singpass Myinfo, recent payslips or CPF contribution history, IRAS Notice of Assessment
• Loan amount: typically 2–6× monthly income, up to S$200,000
• EIR: from 2.80% p.a. (personalised — depends on income, credit score, loan amount)
• Tenure: 3 to 72 months
• Max APR: 8.88% (representative example based on S$20,000, 6.95% APR, 5 years)

• Employment Pass (EP) holders: eligible, minimum annual income typically S$40,000–S$45,000
• Work permit holders: some licensed moneylenders on Lendela’s panel may accept; banks typically do not
• Documents required: FIN card, valid work pass, recent payslips, tax documents
• Loan amount: subject to income assessment and lender policy
• Note: EP holders may face higher interest rates than Singapore Citizens/PRs with equivalent income profiles due to residency risk premium

CBS (Credit Bureau Singapore) credit score ranges from 1,000 to 2,000 — with higher scores indicating better creditworthiness. Singapore banks use your CBS score to determine:

• Whether you qualify for the loan
• Which interest rate band you fall into (higher score = lower rate)
• Maximum loan amount offered

MAS (Monetary Authority of Singapore) is Singapore’s central bank and financial regulator. It licences and supervises all banks, finance companies and financial institutions in Singapore. MAS rules that protect borrowers include:

• All banks must publish EIR (Effective Interest Rate) — not just flat rates
• Unsecured borrowing caps: total borrowing across all banks capped at 12× monthly income
• TDSR: total monthly debt obligations capped at 55% of gross income
• No upfront fees before loan disbursement (for banks)
• Licensed moneylenders are regulated by MinLaw (Ministry of Law), with interest capped at 4% per month

Lendela is Singapore’s #1 loan matching platform. Apply once via Singpass and get personalised offers from 70+ MAS-licensed banks and lenders. Up to S$200,000. EIR from 2.80% p.a. Tenure 3–72 months. Age 21+. Min income S$20,000/yr (SC/PR). Free. No CBS impact from browsing. 300,000+ borrowers served since 2018.

No. Browsing loans-app.com/sg/ and applying through Lendela’s platform does not trigger a hard CBS enquiry. Lendela forwards an anonymised profile to lenders; a formal credit check only occurs when you formally accept an offer and sign with the chosen lender. Compare multiple lenders safely.

Some Lendela bank partners can disburse in as little as 1 hour after approval for straightforward profiles with complete documents. Same-day disbursement is common. Timing depends on the chosen lender’s processes and your document readiness. Lendela itself does not disburse — the chosen MAS-licensed lender does, directly to your bank account.

Up to S$200,000, depending on your income profile. MAS rules: you can borrow 2–6× monthly income from a single bank; total unsecured borrowing across all banks is capped at 12× monthly income. TDSR caps total monthly debt at 55% of gross income. Lendela’s matching algorithm only shows you offers you are likely to qualify for based on your profile.

Lendela is a registered Singapore company, operating as a fintech firm under the Ministry of Law, and a member of the Singapore Fintech Association. It is not a lender and does not require a banking licence. All Lendela lending partners are MAS-licensed banks or MinLaw-licensed moneylenders. Lendela anonymises personal data and only shares your contact information with the lender you choose. Data protection complies with Singapore’s PDPA.

For Singapore Citizens and PRs: NRIC, Singpass Myinfo (auto-fills most fields), recent payslips or CPF contribution history, IRAS Notice of Assessment. For Employment Pass holders: FIN card, valid work pass, recent payslips, tax documents. Singpass Myinfo significantly reduces manual document submission at the initial application stage.

Yes. Employment Pass (EP) holders can apply through Lendela. Minimum annual income is typically S$40,000–S$45,000. Some licensed moneylenders on Lendela’s panel also accept Work Permit holders. Work Permit rates from licensed moneylenders are capped at 4% per month by MinLaw. A valid FIN card and work pass are required.

The flat rate (used in most bank advertisements) is calculated on the original loan amount for the full tenure — it does not account for the reducing balance as you repay, nor fees. The EIR (Effective Interest Rate) includes interest, processing fee, and the compounding effect of monthly repayments. MAS requires all banks to publish EIR. For most personal loans, EIR is 2–3× the flat rate. Always compare EIR across all offers — Lendela displays EIR on all personalised offers.

Early repayment terms vary by lender on Lendela’s panel. Many MAS-licensed banks allow early repayment — some without penalty, others with an early settlement fee of typically 1–3% of the outstanding amount. Lendela’s team can help you identify which lenders offer the most flexible early repayment terms before you commit. Always confirm the early repayment policy in the loan agreement before signing.

Yes. Lendela is 100% digital and available across all areas of Singapore — from the CBD and Orchard to Jurong, Tampines, Woodlands, Ang Mo Kio and every other town and neighbourhood. You need only a smartphone or computer, internet connection, NRIC or FIN and Singpass. No branch visit required for the initial matching and offer stage.