| Fee Type | Rate | Remarks |
|---|---|---|
|
Processing Fee |
SGD150 |
Charged upon a formal application for funding is made (i.e., after
the borrower passing a preliminary assessment by
Smartfunding).
This fee is to cover the cost of our credit assessment. This fee is refundable upon successful funding. |
|
Platform Fee |
4% of loan amount
disbursed |
Charged only if the funding is successful and the loan is
disbursed. This fee will be deducted upfront from the loan
amount disbursed. |
|
Applicable Interest |
8.5% – 20.5% per annum |
The applicable interest on your loan depends on your credit
assessment outcome, based on our proprietary credit scoring
system. |
|
Late Payment Interest |
0.1% per day on the outstanding principal |
|