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Lendela is Australia's first reverse auction, personal loan match making platform. Serving as a middle-man between you - the borrower - and lenders, our job is to help you get the best possible loan given your personal situation. By submitting a single loan application at au.lendela.com, you get access to personalised loan offers from multiple licensed lenders. We then help you compare the offers and support you throughout the process all the way to disbursement with the lender that you select. Our service is 100% free of charge, fully online and takes no more than a few minutes.

No, Lendela is not providing any loans itself. Instead, we are partnering with multiple lenders to make sure that our customers get access to offers from as many loan providers as possible.

The main difference between Lendela and a loan comparison service is that you receive personalised, pre-approved offers from lenders through the Lendela application. All the offers that are presented to you, are based on your unique application and personal situation. In addition, Lendela provides personal customer service throughout the loan application process. If you ever have any questions about the application process, loan offers or lenders, we are always just a call or WhatsApp message away.

Our partner panel consists of a number of banks and non-bank lenders. We aim to have enough diversity within our panel to give you access to enough lenders to properly compare the options that are relevant to you.

We help you find the best possible loan offer and spare you the hassle of applying multiple times with various lenders. Applying for a personal loan with Lendela doesn't cost you anything and only takes a few minutes. In addition, you are never obligated to accept any of the offers given to you. If you are looking to get a personal loan, it is in your interest to compare as many offers as possible before choosing a loan. This is what Lendela is helping you with – for free.

Lendela operates as a Credit Representative of Compass Aggregation (ACL) # 525058. Lendela Pty. Ltd. is also a member of AFCA 98686.

Our address in Australia is 85 William Street, Darlinghurst NSW 2010, and we also have offices in Singapore and Hong Kong.

As a loan matchmaker, we are not controlled by a specific bank or lender. All the lenders in our panel have the same opportunity of presenting a competitive loan offer to you. We will never promote one specific lender or offer on our platform – it is always up to you as a borrower to decide which loan offer will suit you the best.

Of course. However, you can only apply for one loan at a time. After your loan has been disbursed, you are welcome to apply for another loan by submitting a new application.

Our job is to make sure that you find the best possible loan. When you accept an offer using our service, we get paid a small service fee from the lender once your loan has been issued. You will not pay to compare on Lendela or use our service.

Always. To us, your privacy and the protection of your data is extremely important. We never share any data related to you as an individual or your application unless it's essential in the process of getting you the best possible loan offer. All our lenders are also obligated by law to follow the privacy laws in Australia.

The final loan approval is always subject to each lender's internal requirements, processes and eligibility criteria. Therefore, it is difficult to assess your eligibility for a final loan before you have applied using our application form. By partnering with multiple lenders, we increase your chances of getting a loan; if one lender declines your application, you still have a good chance of getting approved by others.

However, these are the minimum requirements when applying with Lendela:
1. You have to be 18 - 70 years old
2. You have to earn an income from an Australian employer
3. You have to be an Australian citizen or permanent resident
4. You must not have any serious defaults, court judgements or bankruptcy

It is very simple. Click here to start your application.

Yes. Depending on how much debt you currently have, combined with your additional financial circumstances such as your monthly income, the lenders can offer you both unsecured loans and debt consolidation plans. Some lenders are more restrictive when it comes to offering loans to applicants with debt, and some lenders are specialising in this type of lending. The easiest way for you to see whether you are eligible for any offer, is to apply on our website or contact us directly.

Definitely not, we do not suggest or recommend any particular loan. You are free to use our service as much as you want to compare personal loan offers and the decision always sits with you on which loan is the best for your situation. There is no commitment tied to your application and you are free to decline all the offers presented to you. Go ahead and try us!

You can use the loan for multiple purposes. Unsecured loans like personal loans are used to finance everything from weddings and travels, to home renovation and education. You can also use the money for unpredicted emergencies, to pay outstanding bills, or to consolidate existing debt. The choice is yours.

Your monthly loan cost will be depending on the loan amount that you are granted, the length of your repayment period (tenure), as well as your credit history. If you want an indication of what your monthly cost would be, you can use our loan calculator. In order to get a personalised monthly cost, you need to submit an application.

Most of the lenders do not charge early payout fees. However this will depend on the lender you select and the Terms & Conditions of your agreement with them.

This depends on each lender's internal process. Though, once your application has been approved and you have accepted an offer, it normally takes less than a day before the money is in your bank account. In some cases, the disbursement happens immediately after approval.

The loan terms – such as interest rate, term, processing fees etc. – are based on your unique application and individual circumstances. Hence, before you have submitted your application, it is difficult to estimate the interest rate that you will be offered. Keep in mind that the interest rates can vary significantly between lenders and also differ based on the loan amount and term that is offered. Make sure to compare all offers given to you before choosing the one you prefer.

Lendela will help you with that! We will send your request to multiple banks and lenders, and by doing so, make sure that you get multiple offers to choose from. All you need to do is compare your offers and select the one with the lowest interest rate.

The process of requesting a credit report to assess your financial situation is called a credit check. We perform a soft credit check, obtaining your score to ensure that we match you with the appropriate lenders. This is done via Illion Credit Bureau and below we have outlined more information on how we work with them. Your credit score consists of a number of things including your credit behaviour, defaults etc.

No. Lendela will ask permission to access your credit score via a "soft check", which is not harming your credit score. By the end of your application, the lender that you select will typically perform a hard credit check to assess your creditworthiness. This is done when you validate your information and complete your application with the lender. The hard credit check is recorded in your credit report and could have a negative impact on your credit score.

A comparison rate includes the interest rate as well as fees and charges relating to a loan. The aim of the comparison rate is to help you identify the true cost of a loan when you compare offers from various lenders.

Depending on your arrangement with your lender, you can make your repayments in a number of different instalments. Some of our customers arrange to pay their loans off weekly, monthly or fortnightly. This is an arrangement you will come to with the lender you chose.

Our partnering lenders are able to return with so-called pre-approved offers (also called in-principle-approved offers) to the applicant. For final approval, the lender has to perform a credit check and obtain supporting documents. The pre-approved offer is still a strong indicator of how the final offer will look. After the credit check is done and the documents are submitted, you always have the opportunity to negotiate the pre-approved offer to get a larger loan amount or better terms, or reject the offer altogether.