fbpx

What are the Loan Broker Fees in 2021?

Published by Handy Work on

For loan application in Singapore, there is no loan broker fee charged by the banks. However, for borrowers who wish to apply for loans from banks outside Singapore, a loan application fee is usually charged by the bank.

The fee may vary depending on which bank you choose to apply for the loan and it usually ranges from S$50 to S$100 depending on the amount of loan you are applying for.

For borrowers who wish to apply for a loan from banks outside Singapore and Malaysia, they may be subjects to an intermediary fee or a brokerage fee that varies depending on each lender.

Some lenders will charge the borrower an up-front fee while others will charge a percentage of the total amount of the loan.

Malaysia

In Malaysia, there is no broker or intermediary fees when applying for a personal consumer loan. All lenders in Malaysia follow uniform pricing structure as mandated by Bank Negara Malaysia (BNM).

However, there might be some slight difference in interest rates among different lenders because of each lender’s risk appetite. We know this as pricing differentiation.

What are the Loan Broker Fees in 2021?
Photo by Kenny Eliason on Unsplash.

Indonesia

In Indonesia, there is no broker or intermediary fees when applying for personal consumer loans in the case that you receive approval from one of the Indonesian banks that offer pesonal loans.

Philippines

In the Philippines, there is no broker or intermediary fees when applying for a personal loan in the case that you receive approval from one of the bank that offers pesonal loans.

Get the Best Loan Deal Now

For borrowers who wish to apply for a loan from banks outside Singapore, they may be subject to an intermediary fee or a brokerage fee that varies depending on each lender.

To ensure that you get the best deal, it is best to research online and compare the different loan application fees and find the most suitable bank for your needs.

Our blog, HandyWork, will guide you through finding the best loan for your needs.

To find out more about Loan Broker Fees in Singapore, you can check out our blog now!


0 Comments

Leave a Reply

Avatar placeholder

Your email address will not be published. Required fields are marked *