Please note that certain fees will be deducted from the requested financing amount before it is disbursed to you. These include the Upfront Processing Fee, Wakalah Fee, and Stamp Duty.
Let’s break it down:
If you request for MYR 800, here’s how the fees will look:
Upfront Processing Fee: This fee varies based on the billing period you select. Here's how it works:
- For a billing period of 1, 2, or 3 months: 2.5% of the financing amount plus 8% SST on the fee.
- For a billing period of 6, 9, or 12 months: 3% of the financing amount plus 8% SST on the fee.
Upfront Processing Fee: MYR 21.60 (for a 1-3 month period: 2.5% of the disbursed amount + 8% SST on the fee)
Wakalah Fee: MYR 10.80 (inclusive of 8% SST)
Stamp Duty: MYR 10 (0.5% of the financing amount, rounded to the next thousand, or a minimum of MYR 10, whichever is higher)
After these deductions, the final amount you’ll receive is MYR 757.60.
These upfront fees won't affect your given profit rate—they are one-time deductions. Do keep in mind that, unfortunately, we can't refund or waive these fees once the financing amount has been approved and disbursed. We recommend reviewing the terms and conditions before proceeding with your application.