Borrower’s Fees and Charges

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

9.6% - 18% 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