With the many available personal loans and institutions out there in Singapore, users can have a hard time finding the right personal loan for themselves tailored to their specific situation. Lendela allows users to compare several personalised loan offers based on their credit history from both licensed moneylenders and banks. Not only that, Lendela offers flexible financing amounts, fast cash disbursement (within 1 day), and a low minimum income requirement, making it a great option for those that require a personal loan urgently.
|Summary of Lendela's Lending Platform|
|Low Minimum Income Requirement: S$1,200 per month|
|Borrow as little as S$500 or up to S$100,000|
|Interest Rates from 0.8% monthly|
Table of Contents
What Makes Lendela Stand Out to Borrowers
Lendela provides prospective borrowers with a simple way to find the cheapest personal loans available. By offering custom personal loan offers, based on the prospective borrower's profile, Lendela allows individuals to compare the best rates available offered by both moneylenders and banks based on tailored individual situation and urgency in Singapore.
Users can ensure that they are getting the best banks and moneylender rates by using Lendela loan comparison service.
|Monthly Interest Rates||from 0.8% (lower rates for returning borrowers)|
|Processing Fees||Vary by lender|
|Loan Size||S$500 to S$100,000 (or 6x monthly income)|
|Loan Disbursement||Within 1 day|
Not only does Lendela provide transparency to borrowers, it typically provides multiple offers and choices in determining what will be the cheapest for them, 1 day cash disbursement and flexible loan amounts. Additionally, Lendela does not charge prospective borrowers a fee for its service.
Who Can Apply: Eligibility Criteria
Lendela offers loans to salaried Singaporeans, Permanent Residents, Employment Pass holders. In order to apply for a loan via Lendela, you can click any button on this page. You will be prompted to fill out a short form. This form asks for some details including your contact information, loan preferences and annual income. Once Lendela has your information, it provides you with loan offers. Typically, applicants receive more than one loan offer, and many loans are disbursed within one day.
Other Charges & Fees
While Lendela does not charge fees, most banks and moneylenders charge a variety of fees. To ensure that you are not incurring unnecessary fees, we recommend making on-time payments and choosing a loan that you can reasonably expect to repay. For your reference, we've listed some common fees in the table below.
Typical Personal Loan Fees
- Processing Fees
- Annual Fee
- Late Payment Fee
- Early Redemption Fee
Read to apply for a personal loan from Lendela today? Click on any of the "Apply Now" buttons on this page to get started. You will be directed to the Lendela website where some additional information will be required before the search for multiple tailored loan offers can start.