Frequently Asked Questions
Lendingpot is Singapore’s leading loan matching platform. Lendingpot is a middleman between loan providers and borrowers and assists borrowers in obtaining the best loan available for specific needs. At Lendingpot, you may obtain personalised loan offers from several banks and financial institutions by submitting a single loan application. Lendingpot will assist you in comparing the offers and guide you all the way through disbursement with the loan provider that you choose. Lendingpot services is completely free, available online, and only needs a few minutes to complete the application process.
No, Lendingpot is not a lender in its own right. Instead, to ensure that consumers have access to offers from as many loan providers as possible, Lendingpot collaborates with several banks and financial organizations. The Lendingpot service complies entirely with Singapore's Ministry of Law, and Lendingpot conducts business in compliance with legal standards. Lendingpot doesn't need a license to operate, either, as Lendingpot is not a loan provider.
In Singapore, Lendingpot collaborates with more than 45 banks and financial institutions, including HSBC, Standard Chartered Bank, and DBS for business and over 20 banks and licensed money lenders for personal loans.
The bank pays Lendingpot a modest service charge when a customer uses their service to accept an offer. Because of this, using their service as a client is completely cost-free and Lendingpot is able to share rebates with the customer.
In the process of securing the best loan offer for you, Lendingpot will only divulge any information relevant to your application. The law also requires all of the partner banks and financial institutions to abide by Singapore's privacy rules.