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Type of Fees

Definition

When is this being charged?

How Much?

Processing Fee

This refers to the fee charged for the provision of the SPayLater Motorcycle service and is interchangeable with the Instalment Rate, as referred to in our Terms of Service.

Processing Fee is charged in the monthly installment amount.

Processing Fees are based on the payment plan chosen and the transaction amount: 

·12 Months - 0.92% per month / 11%

·24 Months - 0.92% per month / 22%

·36 Months - 0.92% per month / 33%

·48 Months - 0.92% per month / 44%

·60 Months - 0.92% per month / 55%

Late Charge

Refers to the penalty charged if a user doesn’t pay their SPayLater Motorcycle bill by the due date. Monee will freeze the user’s SPayLater account if payments are late.

Please refer here for more information.

Late Charge is incurred when users do not pay the SPayLater Motorcycle bill after the due date.

RM10

Payment Plan

12 Months

24 Months

36 Months

48 Months

60 Months

Monthly Processing Fee 

0.92%

0.92%

0.92%

0.92%

0.92%

Total Processing Fee

0.92% * 12M
= 11%

0.92% * 24M
= 22%

0.92% * 36M
= 33%

0.92% * 48M
= 44%

0.92% * 60M
= 55%

Example of SPayLater Motorcycle amount = RM10,000

Total Processing Fee

RM10,000 * 11%
= RM1,100

RM10,000 * 22%
= RM2,200

RM10,000 * 33%
= RM3,300

RM10,000 * 44%
= RM4,400

RM10,000 * 55%
= RM5,500

Total Price Paid
(Transaction Amount + Processing Fee)

RM10,000 + RM1,100
= RM11,100

RM10,000 + RM2,200
= RM12,200

RM10,000 + RM3,300
= RM13,300

RM10,000 + RM4,400
= RM14,400

RM10,000 + RM5,500
= RM15,500

Instalment per Month

RM11,100 /12M
= RM925

RM12,200 /24M
= RM508.33

RM13,300 /36M
= RM369.44

RM14,400 /48M
= RM300

RM15,500 /60M
= RM258.33