Service fee
Service fee on interest earned is only chargeable on a success basis (e.g. we do not charge you service fees if the Issuer does not pay). This is done to align our earnings to successful repayment for you. Please do also note that service fee is only charged on interest earned and not principal.
Service Fees covers our operational costs such as customer support and collections.
E.g. If you've invested $1,000 into a one month note of 12% p.a., service fees are at 18% of the $10 interests earned. So you will receive $8.20 of interests and $1.80 will be charged as service fees.
GST
We absorb the prevailing government Goods and Services Tax (“GST) imposed by Inland Revenue Authority of Singapore (“IRAS”)