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[SFinancing-i] What is the profit rate, fees and charges related to SFinancing-i?
Type of Fees | Amount | When would the fees be charged? |
Stamp Duty | As per Stamp Act 1949 (Revised 1989). · If the financing amount is between RM500-1,000, the stamp duty will be RM10 · If the financing amount is between RM1,001-2,000, the stamp duty will be RM2,000*0.5% = RM10 · If the financing amount is between RM2,001-3,000, the stamping cost will be RM3,000*0.5% = RM15 | This fee will be deducted upfront from the disbursement amount |
Wakalah Fees | RM20 per financing request. It is a flat fee charged for every completed commodity transaction (Tawarruq). | This fee will be deducted upfront from the disbursement amount. |
Profit Rate | From 1.5% per month or 18% per annum | This fee is imposed upon repayment |
Late Payment Charge | 8% per annum, charge daily | This fee is imposed upon repayment in the event of late payment |
SFinancing-i is a service provided by SeaMoney Capital Malaysia Sdn Bhd.
