What’s a Lendela Loan? Lending Platform Overview (Updated December 2025)
By
Dawn Chew
|
Updated 27 Dec 2025
Lendela is a loan matching platform that helps Singaporeans compare personal loan offers from licensed moneylenders and reputable banks. Borrowers fill out one application and multiple lenders respond with customised loan offers making it easier to compare multiple options.
While the process is fast, free and safe, Lendela doesn’t offer cashback, promo vouchers or added rewards unlike some of the other platforms in Singapore. It’s recommended to apply via multiple platforms and compare which provides the best offers.
Lendela Loans Explained
When someone says they got a “Lendela loan,” it means they found a loan through Lendela who acts as an online loan broker.
Lendela is a loan matching platform or online loan broker. You fill in your details once and they send your application to their partner banks and licensed moneylenders. These lenders then return with their best offers for you to compare.
Lendela works with a wide range of lenders in Singapore but unlike some other platforms, they don’t offer any rewards or perks such as cashback or shopping vouchers.
Why More Singaporeans Are Turning to Loan Matching Platforms
Personal loan applications can be confusing and time consuming especially when comparing lenders one by one. Loan matching platforms like Lendela are becoming more popular because they help streamline the application process, increase access to better offers and approval chances.
- Faster Application Process
A single application is shared across multiple banks and licensed moneylenders. This reduces time and the need to apply separately with different lenders. In most cases, loan offers are available within hours giving borrowers faster access to funds.
- Safer and More Transparent
These platforms only work with licensed moneylenders and MAS regulated banks. This reduces the risk of scams or dealing with unlicensed moneylenders. Borrowers can also expect more consistent standards for interest rates, fees, and approval terms.
- Higher Approval Chances
Instead of applying blindly, loan matching platforms assess credit and financial profiles before forwarding applications. This improves the chances of receiving offers from lenders whose criteria align with each borrower’s unique circumstances.
- Easy Comparison
Interest rates, processing fees and repayment terms are displayed in one application dashboard. This makes it easier to compare options and spot which offers are suitable.
- Lender Performance Tracking
Loan matching platforms actively monitor lender behaviour including approval speed, customer service and reliability. Lenders who underperform may be reviewed or removed, helping maintain a higher platform standard.
Choosing the Right Loan Matching Platform
Loan matching platforms can be a huge time saver but not all of them work the same way.
Before applying, here are a few key things to consider:
1. Licensed lender partnerships only
The platform should only work with MAS-licensed banks and Ministry of Law regulated licensed moneylenders.. This protects borrowers from loan scams and unlicensed moneylenders.
2. Rate & Fee Transparency
Some platforms give rate estimations while others provide real-time pre-approved loan offers. If the offer is not pre-approved it’s likely just an advertised public rate and a ‘real’ application with the lender is needed.
3. Speed & Simplicity
The platforms should provide a straightforward and mobile-friendly application process. The whole point of using a loan matching platform is to save time and removing the hassle of submitting long form applications.
4. Perks & Added Value
While the loan offer itself is important, some platforms offer extras like cashback, vouchers and price beat guarantees. If all other things are equal, a little extra value can help you save more in the long run.
5. Privacy & Support
After an application has been launched, some platforms may call borrowers or bombard them with WhatsApp messages. It is therefore advisable to choose a platform that respects its customers’ privacy and offers clear customer support in case they need help understanding offers.
Popular Loan Matching Platforms in Singapore
Here’s a quick comparison of the three most popular platforms in Singapore:
1. Lendela
Lendela is one of the most established platforms in the personal loan space. It works with a wide network of banks and licensed moneylenders and the process is straightforward. Applications are submitted online, and borrowers receive multiple offers to compare.
However, Lendela does not offer any perks like cashback, price match guarantees or promo vouchers.
2. Lendingpot
Lendingpot focuses mainly on business financing and SME loans but also offers some personal loan services. Its strength lies in connecting borrowers with suitable lenders and its customer centric approach.
While it’s not as consumer-focused as other platforms, it can be useful for those looking for more specialised financing solutions.
3. ROSHI
ROSHI is designed to make comparing loans simple, transparent and rewarding. The platform delivers real-time personalised loan offers from banks and licensed moneylenders.
Unlike most competitors, ROSHI also runs cashback promotions, price matching guarantees and gives out partner vouchers to each of their customers making it one of the best value for money options in the market.
Considerations
Not all loan matching platforms are the same. While many offer similar services, there are important differences in how they operate, what types of lenders they work with and what kind of experience they provide. Understanding these differences helps ensure a safer and more efficient borrowing process.
The most reliable platforms only work with MAS regulated banks and Ministry of Law regulated licensed moneylenders, ensuring that all loan offers are legal and regulated. It’s also worth checking whether the platform provides real-time and pre-approved loan offers rather than just public rates such as Moneysmart and SingSaver. Transparent fee structures and clearly presented repayment terms are also signs of a trustworthy service.
Some platforms offer extra value, such as cashback and vouchers, which can make a big difference. Application speed and how personal data is handled should also be part of the decision making. A platform that regularly reviews lender performance and removes underperforming partners typically delivers a better overall customer experience.
