State Bank of India (SBI) SME Loan - What you need to know.

Actually from State Bank of India (SBI) 's website, it is unclear if they offer SME loans and they happened not to be a financing partner that we work with. But as we have seen so many “comparison” comparison portals or bloggers reviewing it, we thought we would take the opportunity to tell you if you rely on reviews to make your financial decisions, this is what is actually happening instead.

Across markets from the U.S. to Australia, authorities are uncovering that these platforms often promote results based on payment, not on what’s truly best for the applicant or consumer. What you see isn’t always an unbiased comparison, but often, a ranked list bought by those who pay the most. Not all comparison portals are what they claim to be—many are nothing more than advert-driven portals, serving the advertisers that pay them.

While general information, such as miles or points per dollar spent, is easy to research, loan amounts and interest rates are highly personal. They change from one applicant to another based on each individual’s credit score & profile. That rate they “reviewed” or “compared” for you is actually a teaser rate. Here’s how it works in detail. They are rates that you may or may not get, and in many countries, regulators are either suing them for clickbaiting consumers or publishing warnings on them.

But if you are pressed for time, you don’t have to read the article above - here is an image that says it all. Take a moment to realize the blunder they made!

Credit: Head of Lendingpot. Strangely enough, Lendingpot appears to be exposing its own practices.

We raised the issue of lender-owned brokers and their conflicts of interest. Months later, they made the same claim—while owned by IFS Capital & PhilipCapital. Maybe it’s coincidence… or maybe they’ve been borrowing a little too heavily from our words? For more of their contradiction or to join the conversation, click here. 

Credit: Public review found on Seedly and Google

Every now and then, you’ll see them write comparisons like “this loan vs. that loan.” But think about it—if they claim to compare 10 loans, did they really take all 10 and pay interest on each one?

In the UK, regulations force lenders to ensure 51% of customers get the advertised rate. Singapore lacks this safeguard. And even if the rate itself is genuine, the fine print matters. What’s the use of 1% if it only applies to $500, not the $5,000 you need?

But the bigger issue is this—if you had gone to a loan “comparison” website and simply took the recommended loan without checking other banks, you could have ended up paying thousands more. Another bank might have given you a cheaper rate. We explained how this happens in the article above.

And thus we built FindTheLoan.com, Singapore’s 1st loan exchange. Instead of teaser rates or applying with multiple lenders one by one, you can reach multiple lenders at once with your actual documents, and they will make a full credit assessment as if you had walked in to them individually, and they will revert with their actual offer. Fine print and all included. Here's how to use your dashboard.

Regulators overseas have spoken up, but not in Singapore. If you think something doesn’t look right, we invite you to share your thoughts on this LinkedIn post or on our Reddit, TikTok, or Facebook post, if you prefer. However, we have tagged a number of MPs on LinkedIn who, during parliament, have asked about matters such as greater consumer protections. Weighing in there, and as more people share their thoughts there, could finally catch their attention to do something about the industry and better protect borrowers. Every comment, repost, or show of support matters — it increases the chances that policymakers take notice and act.

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