Frequently asked questions
Apply once, get matched where suitable, compare the lender's real terms, then decide.
Is Loanify a lender?
No. Loanify is a broker and loan-matching platform. Lenders handle approval, loan contracts, verification, and disbursement.
Is Loanify free for borrowers?
Yes. Borrowers do not pay Loanify to submit a request. Loanify may receive referral or broker commissions from partners where appropriate.
Can Loanify guarantee approval?
No. We will not promise guaranteed approval. Lenders decide based on their own criteria, your documents, and affordability.
How fast can I get matched?
Loanify reviews requests fast where possible, often on the same day. Actual lender approval and disbursement timing depends on the lender and your documents.
Will I receive multiple offers?
Where your profile fits more than one route, Loanify can help you compare suitable options. Availability depends on lender criteria and partner coverage.
Can I apply with Singpass?
Yes. Choose “Continue with Singpass” when you apply to retrieve your MyInfo particulars securely and skip most of the manual form.
Are the lenders on Loanify regulated?
Yes. Every lender on Loanify's panel is a licensed moneylender regulated by the Ministry of Law under the Moneylenders Act. Always review the contract before accepting an offer.
What should I compare before accepting?
Compare monthly repayment, total payable, interest, EIR, fees, tenure, late charges, eligibility, and verification steps.
Can foreigners apply?
Foreigners working in Singapore may submit an enquiry. Matching depends on pass type, income, employment, residency, and lender rules.
What if my credit profile is weak?
You can still submit a request, but matching is not guaranteed. Loanify will review what may be workable without making false approval claims.
Is there a cooling-off period if I change my mind?
Yes. Singapore law gives you a mandatory 3-business-day cooling-off period on unsecured loans from licensed moneylenders. Cancel within that window and no interest is charged — the moneylender can only keep a small, capped portion of the loan approval fee.
Will lenders contact me before I accept an offer?
No. Lenders only see an anonymised version of your profile while comparing offers. Your name and contact details are only shared with the one lender whose offer you choose to accept.
Am I obligated to accept an offer once I apply?
No. You can compare every offer and decide not to proceed with any of them. No lender has your contact details until you choose to accept.
Is the Loanify website available in Chinese?
Yes. Our homepage and application page are available in Chinese — look for the “中文” link in the navigation menu.
How can I contact Loanify directly?
You can reach us by email at contact@loanify.sg or via WhatsApp using the chat button on our website.
