Fee Type Rates Description Frequency / Remarks
Verification Fees RM50.00 Platform verification fee charged each time an application to “Get Funds” is made. Charged each time an application for funding is made to ensure that the issuer is serious in the application. Will be refunded if funding is successful.
Transaction fees RM0.00 – RM3.00 Fee charged each time an application to “Get Funds” in made. Charged together with verification fees as and when an application to “Get Funds” is made. Will not be refunded even if funding is successful.
Platform Origination Fees 1% per annum Fees charged by the platform to issuers upon successful funding. Charged only if funding is successful and leads to disbursement. Deducted upfront from amount to be disbursed. Amount is determined by the financing tenure applied and approved. For example, if the funding tenure is 6 months, the origination fees will be 1%. If the funding tenure is 15 months, the origination fees will be 2%.
Late Payment Fee RM1.00 – RM100.00 Fee charged by the platform to issuers each time a monthly repayment is late. Charged only if the monthly repayment is 8 days past the due date. Amount charged will be 1% of the monthly repayment, up to a maximum of RM100.00. For example, If monthly repayment is RM5,000, then the late payment fee will be RM5,000 x 1% which equates to RM50. If monthly repayment is RM20,000, then the late payment fee will be capped at RM100.
Stamp Duty 0.50% of funding amount Duty payable under the law Charged only if funding is successful and leads to disbursement. Deducted upfront from amount to be disbursed. Amount is determined by the financing amount actually raised. For example, if the funding amount hosted is RM100,000 but amount raised is only RM91,000. The duty payable would be RM91,000 x 0.50% which equates to RM455.
Other bank transaction charges RM0.11 – RM1.00 Transaction charges (such as IBG, FPX) if any as charged by the banks Charged as and when disbursement occurs or when there is request for withdrawal from Trust account being made.