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Find answers to common questions about loans and our services
LendHub is Singapore's premier loan comparison platform that revolutionizes how you find and secure personal loans. We partner with over 70 banks, financial institutions, and licensed money lenders to bring you the most comprehensive selection of loan products in one convenient location.
Our advanced matching technology analyzes your financial profile and instantly connects you with personalized loan offers that suit your specific needs and circumstances. Whether you're looking for a personal loan, business financing, debt consolidation, or any other lending solution, LendHub simplifies the entire process from comparison to approval.
Founded with the mission to make financial services more accessible and transparent, we eliminate the hassle of visiting multiple banks or filling out countless applications. With LendHub, you can compare rates, terms, and features side-by-side, ensuring you make the most informed decision for your financial future.
Yes, absolutely! LendHub's loan comparison service is completely free for all borrowers. You will never pay any fees to use our platform, compare loan offers, or get matched with lenders.
Here's what you get at no cost:
We believe that finding the right loan should be accessible to everyone, which is why we've made our service completely free for borrowers. Our revenue model ensures that you never have to worry about hidden charges or service fees.
LendHub operates on a commission-based model that keeps our service free for borrowers while ensuring sustainability for our platform. Here's how it works:
Commission from Lenders: When you successfully secure a loan through our platform, the lender pays us a referral commission. This is a standard industry practice and is built into the lender's business model.
No Impact on Your Rates: Importantly, this commission does not affect the interest rates, fees, or terms offered to you. Lenders provide the same rates through LendHub as they would if you approached them directly.
Transparent Process: We maintain complete transparency about our revenue model. Our earnings are aligned with your success - we only earn when you find and secure a loan that meets your needs.
Additional Services: We also offer premium services to lenders, such as enhanced listing features and analytics, which helps us maintain and improve our platform while keeping it free for borrowers.
This model allows us to invest in better technology, expand our lender network, and provide superior customer service while ensuring you always get the best possible loan terms.
A personal loan is an unsecured loan that you can use for various purposes such as debt consolidation, home renovations, medical expenses, or major purchases. Unlike secured loans, personal loans don't require collateral, making them accessible to more borrowers.
Key features of personal loans:
Personal loans are ideal when you need a lump sum of money with predictable monthly payments and a clear payoff timeline.
LendHub offers several advantages over applying directly to individual banks or loan providers:
Save Time & Effort:
Better Loan Options:
Expert Support:
With LendHub, you get the convenience of choice without compromising on service quality or loan terms.
Yes, LendHub operates as a licensed financial services platform in Singapore. We maintain all necessary regulatory approvals and comply with local financial regulations.
Our Regulatory Status:
Partner Network: All our lending partners are also properly licensed - including banks regulated by MAS and money lenders licensed by the Ministry of Law.
You can verify our licensing status through the official MAS website or contact us directly for regulatory documentation.
Loan qualification depends on several factors that lenders evaluate to assess your creditworthiness:
Basic Eligibility Requirements:
Factors That Improve Your Chances:
Use our free pre-qualification tool to get an instant assessment of your loan eligibility without affecting your credit score.
The loan amount you can borrow depends on your income, credit profile, and the lender's policies:
General Loan Limits:
Factors Affecting Loan Amount:
Regulatory Limits: Singapore regulations cap unsecured borrowing at 12 times monthly income across all lenders.
Our loan calculator can provide a personalized estimate based on your financial profile.
Loan terms vary based on the lender, loan amount, and your credit profile:
Loan Tenure:
Interest Rates:
Common Fees:
Always compare the Effective Interest Rate (EIR) which includes all fees for the true cost of borrowing.
The timeline for receiving your loan depends on the lender and how quickly you provide required documents:
Typical Timeline:
Fastest Options:
Factors That May Delay:
Most borrowers receive their funds within 3-5 business days from application submission.
Applying for a loan through LendHub is simple and straightforward:
Step 1: Get Your Loan Options
Step 2: Compare and Choose
Step 3: Submit Your Application
Step 4: Get Approved and Funded
Ready to start? Click "GET YOUR LOAN OPTIONS" to begin your application.
Yes, personal loans are versatile and can be used for most legitimate purposes. Unlike specific-purpose loans (like car loans or home loans), personal loans give you the flexibility to use funds as needed.
Common Uses for Personal Loans:
Restrictions:
Most lenders don't monitor how you spend the money once it's disbursed, giving you complete freedom to use it for your intended purpose.
Your privacy and data security are our top priorities. LendHub employs multiple layers of protection to ensure your personal and financial information remains completely secure:
Bank-Level Security:
Regulatory Compliance:
Data Usage Policy:
We understand that trust is earned, and we're committed to maintaining the highest standards of data protection to safeguard your financial privacy.
The initial comparison takes just a few minutes. Once you select a loan offer, the application process typically takes 15-30 minutes to complete. Most lenders provide approval decisions within 24 hours, with some offering same-day approval.
Generally, you'll need: NRIC, latest 3 months' payslips, latest CPF contribution history, bank statements, and employment letter. Additional documents may be required depending on your employment type and the lender's requirements.
While you can compare multiple offers, we recommend applying to one lender at a time. Multiple loan applications can affect your credit score and may reduce your chances of approval with other lenders.
After submission, the lender will review your application and may contact you for additional information. You'll receive an approval decision typically within 24 hours. If approved, you'll receive the loan agreement to sign, and funds will be disbursed to your account.
To be eligible, you must be: 21-65 years old, Singapore citizen or PR, have a minimum annual income of $20,000-$30,000 (varies by lender), and have been employed for at least 6 months with your current employer.
Yes, foreigners with Employment Pass or S Pass can apply. However, eligibility criteria may be stricter, including higher income requirements and longer employment history. Some lenders may also require a local guarantor.
While bad credit may limit your options, some lenders specialize in loans for borrowers with less-than-perfect credit. These loans may have higher interest rates, but they can help you rebuild your credit score with timely repayments.
LendHub doesn't perform credit checks during the comparison stage. However, when you apply with a lender, they will conduct their own credit assessment, which may temporarily affect your credit score.
Interest rates vary based on your credit profile, income, and loan amount. Rates typically range from 3.5% to 25% per annum. Borrowers with excellent credit profiles can qualify for the lowest rates, while those with higher risk profiles may face higher rates.
We ensure all fees are clearly disclosed upfront. Common fees include processing fees (typically 1-5% of loan amount), late payment charges, and early repayment penalties (if applicable). All fees are shown in your loan comparison results.
The Effective Interest Rate (EIR) includes the advertised interest rate plus all compulsory fees, giving you the true cost of the loan. Always compare EIRs rather than just interest rates to make an informed decision.
Interest rates are typically based on the lender's assessment of your risk profile. However, if you have multiple offers, you may be able to negotiate with lenders, especially if you have excellent credit or are taking a large loan amount.
Most loans are repaid through monthly installments via GIRO (automatic deduction from your bank account). Some lenders also accept manual payments through internet banking, ATM, or cash deposits.
Yes, most lenders allow early repayment. However, some may charge an early repayment penalty (typically 1-5% of outstanding amount). Check your loan terms for specific early repayment conditions.
Missing payments can result in late payment fees and negatively impact your credit score. Contact your lender immediately if you're facing difficulties. Many lenders offer payment restructuring options for borrowers experiencing temporary financial hardship.
Some lenders may allow loan tenure extension in cases of financial hardship. This would reduce your monthly payments but increase the total interest paid. Contact your lender to discuss restructuring options if needed.
Our loan specialists are here to help you find the perfect loan solution