Borrower’s Fees and Charges

Fee Type Rate Remarks
Processing Fee
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