Frequently Asked Questions
Below, we are answering the most common questions that we get regarding Lendela, our service and personal loans in general. If you can't find an answer to your question, please contact us and we'll make sure to assist you on e-mail or phone.
What does Lendela do?
Is Lendela a lender?
What is the difference between Lendela and a traditional loan comparison service like MoneyHero or MoneySmart?
Who are Lendela's lending partners?
What does it mean that Lendela is "independent"?
How is Lendela's service free of charge?
The loan application
Why should I try Lendela?
How do I apply for a loan?
Can I apply for a loan through Lendela several times?
Is my personal information secure with Lendela?
Am I eligible for a loan?
Will I be forced to choose a loan offer?
What can I use the loan for?
What will my monthly cost be?
Can I pay off the loan whenever I want?
Can I borrow money despite having debt?
When will I receive the money?
What will my interest rate be?
How do I get the lowest possible interest rate?
What does APR mean?
What is instalment?
What is a credit check?
What is a pre-approved offer?