Updated September 28, 2026 · BorrowCue Editorial Team
Lendela vs Upgrade
Lendela vs Upgrade: the differences
| Compare |  Lendela |  Upgrade |
|---|---|---|
| APR | up to 48% | 7.74% to 35.99% |
| Loan amount | SGD 1,000 to SGD 200,000 | $1,000 to $50,000 |
| Term | 3 to 72 months | 24 to 84 monthsHigher |
| Arrangement fee | SGD 0 | 1.85%-9.99% one-time origination fee, deducted from loan proceeds |
| Credit check | None | Soft prequal |
| Funding time | Around 1-2 days from application to disbursement; some within hours | Within 1 business day of clearing verifications |
| Representative example | Personal loan: $20,000 at APR 6.95% over 5 years, total payable $26,940, monthly cost $449 | $10,000 unsecured personal loan, 36-month term, 17.59% APR including 13.94% yearly interest rate and 5% one-time origination fee; $9,500 received, $341.48 monthly payment, $12,293.46 total |
| Lender type | Marketplace | Direct lender |
| Eligibility | Age 21 or older; Singapore citizen or PR (foreigners also considered, higher income threshold); min annual income SGD 20,000-30,000 citizens/PR | Be a U.S. citizen, a permanent resident, or living in the U.S. on a valid visa; be at least 18 years old (or older where the majority age is higher); provide verifiable bank account information and a valid email address |
| Loan types | Personal, Debt consolidation, Business, Secured, Student | Personal, Debt consolidation, Secured, Car |
| Rate type | Not confirmed | Fixed |
| Free early repayment | Not confirmed | Yes |
| Origination fee (%) | Not confirmed | 1.85% to 9.99% |
| Credit needed | Fair | Not confirmed |
Same on both: Use cases (Home improvement).
We earn a commission when you sign up through links on this site. Partner status can affect where a brand appears in our rankings.
Key differences
- Upgrade scores higher overall: 9.2 vs 8.5.
- Lendela is available in 1 more country.
- Term is higher at Upgrade: 24 to 84 months vs 3 to 72 months.
- Loan types: only Lendela offers Business, Student.
- Loan types: only Upgrade offers Car.
Our verdict on each
Lendela
Lendela suits Singapore borrowers who want a fast loan without a credit check. The marketplace matches amounts of SGD 1,000 to SGD 200,000 over terms of 3 to 72, with an APR of up to 48% set by the lender you are matched to.
Upgrade
Upgrade lends directly through Upgrade, Inc. and suits US borrowers who want a fixed rate personal loan, debt consolidation or car finance with fast payout. Amounts run $1,000 to $50,000 over terms of 24 to 84 at a fixed rate, so the monthly figure is set at the start.
Score breakdown
| Area | Lendela | Upgrade |
|---|---|---|
| Cost | Not confirmed | 9.0 |
| Offer | 8.9Fees are SGD 0 to arrange a personal loan and SGD 0 on the mortgage side. | 9.3HigherAmounts of $1,000 to $50,000 over terms of 24 to 84 at a fixed rate, fee taken from the payout. |
| Trust | 8.2 | 9.2Higher |
Positions in our rankings
| Ranking | Lendela | Upgrade |
|---|---|---|
| Personal loans | 74 of 1932 | 91 of 1932 |
| Debt consolidation loans | 26 of 425 | 34 of 425 |
| Lines of credit | 10 of 328 | 15 of 328 |
| Secured loans | 12 of 472 | 15 of 472 |
| Home improvement loans | 31 of 562 | 40 of 562 |
What it costs in practice
Borrow a typical amount over a typical term (estimate at the stated APR)
Lendela
up to 9,039.28
up to 9,039.28
Upgrade
1,237.96 to 6,487.32
1,237.96 to 6,487.32
The stated ranges do not establish a winner.
Worked out from the stated prices and rates; your own total depends on how you use it. Facts checked September 26, 2026.
Also worth a look
Sofkredit has term at 6 to 240 months, against 3 to 72 months for Lendela and 24 to 84 months for Upgrade.
Sofkredit reviewWhere these facts come from
Lendela
- sg.lendela.com: 16 facts, checked September 26, 2026
- hk.lendela.com: 1 fact, checked September 26, 2026
Upgrade
- upgrade.com: 19 facts, checked September 26, 2026
Every fact side by side
| Fact | Lendela | Upgrade |
|---|---|---|
| Pricing model | Not confirmed | Fixed rate |
| Features | Same day funding, Credit line | Same day funding, Credit line |
| Legal entity | Lendela Pte. Ltd. | Upgrade, Inc. |
| Headquarters | Singapore | United States |
| Founded | 2018 | Not confirmed |
| Support channels | Email, Phone, Help centre | Email, Phone, Help centre |
Mortgages
| Fact | Lendela | Upgrade |
|---|---|---|
| Initial rate | 2.4% | Not confirmed |
| Product fee | SGD 0 | Not confirmed |
| Purpose | Purchase, Remortgage | Not confirmed |
Where each stands against the rest
| Fact | Lendela | Upgrade | Median |
|---|---|---|---|
| APR | up to 48%highest quarter | 7.74% to 35.99%below the median | 8.99 |
| Term | 3 to 72 monthsabove the median | 24 to 84 monthsabove the median | 60 |
| Origination fee (%) | Not confirmed | 1.85% to 9.99%above the median | 0.25 |
Median across 1005 listed lenders.
Pros and cons
Lendela
Pros
- No credit check at all, and a fair credit profile is enough to apply.
- The range covers personal, debt consolidation and business lending under one roof.
- Funding is quick, with disbursement within hours on some applications.
Cons
- A marketplace model (marketplace) means the matched lender sets the rate, so up to 48% is a ceiling.
- That ceiling is steep next to 10% to 23% at Monzo Flex.
- Support runs on email, phone and help centre, with no live chat listed.
Upgrade
Pros
- Borrowing is priced at a fixed rate, so the monthly payment holds for the life of the loan
- Amounts of $1,000 to $50,000 cover consolidation, car and home improvement plans as listed in personal, debt consolidation and secured
- Free early repayment lets you clear the balance ahead of schedule without a charge
Cons
- The arrangement fee of 1.85% to 9.99% is deducted from the payout, so a loan can arrive smaller than the amount approved
- The top of 7.74% to 35.99% is well above the site median of 12%, so a thin credit file lands at the expensive end
- Eligibility is limited to US citizens, permanent residents or people in the US on a valid visa who can provide verifiable bank details
Who each suits
Lendela
Who it suits
- Singapore citizens and permanent residents with a steady income who need money quickly.
- Borrowers with fair credit, or who would rather avoid a credit check altogether.
- Anyone funding home improvement work, its named use case: home improvement.
Who should look elsewhere
- Not for lowest rate seekers: Monzo Flex runs at 10% to 23%.
- Not for shoppers after a cost free product: Cashspace ES lists 0%.
- Not for borrowers outside Singapore: Cashspace serves the Philippines at PHP 12 to PHP 36.
Upgrade
Who it suits
- US residents who want a fixed rate held across the whole term, as fixed shows
- Borrowers consolidating several balances into a single monthly payment
- Car buyers and home improvement planners, the two uses named in home improvement and personal, debt consolidation and secured
Who should look elsewhere
- Borrowers outside the US, since US is where the lender is based and licences are US only
- Anyone wanting a firm rate before a full application, given soft prequal is a soft prequal step
- People who want a fee paid after the fact, because the arrangement fee is taken from the amount borrowed
Country by country
| Country | Lendela | Upgrade |
|---|---|---|
| Hong Kong | Yes | No |
| Singapore | Yes | No |
| United States | No | Yes |
Questions about each
Lendela
What APR does Lendela charge?+
The published APR runs to up to 48% on personal loans, and that figure is a ceiling rather than a rate every borrower pays. Because Lendela is a marketplace, the rate depends on the matched lender and on your own credit standing.
Are there fees to arrange a loan?+
The origination fee on personal loans is SGD 0, and the product fee on the mortgage side is SGD 0, so arranging a facility itself costs little. Interest remains the main price of the money, and the representative example shows how instalments add up.
Upgrade
What rate will I pay on an Upgrade personal loan?+
Pricing runs across 7.74% to 35.99% and is set at a fixed rate, so the monthly amount does not move once the loan starts. The top of that range is well above the site median of 12%, so your credit profile decides where you land.
Is there a fee for taking out an Upgrade loan?+
Yes, an arrangement fee of 1.85% to 9.99% applies to the loan. It is taken from the loan proceeds rather than added to your opening payment, which means the amount that reaches your account is smaller than the amount approved.
Other options to compare
Other matchups
- Lendela vs Arab Islamic Bank
- Lendela vs Cathay United Bank
- Lendela vs Oney Préstamos ES
- Lendela vs Sofkredit
- Lendela vs Andacredito
- Lendela vs 5in5
- Lendela vs Multitude Bank p.l.c
- Lendela vs Qonto ES
- Lendela vs Fiesta Credito MX
- Lendela vs Solcredito
- Lendela vs Solcredito MX
- Lendela vs Creditio
- Lendela vs BriteCap Financial
- Lendela vs Commerzbank
- Lendela vs Alt Lending
- Lendela vs Kredivo
- Lendela vs Moneyveo UA
- Lendela vs TF Bank
- Lendela vs Postbank
- Lendela vs Consumers Credit Union
- Lendela vs Nazivnost
- Lendela vs Smartney
- Lendela vs MoneyHero
- Lendela vs CitiBank AE
- Lendela vs Borrowell
- Lendela vs LEND.ch
- Lendela vs Cool Credit
- Lendela vs Moneyveo VN