When it comes to interest rate, Shopee has set it at 1.5% per month which is equivalent to 18% per annum. Customers also should take note of other costs that are associated with this service including the stamping fee which is 0.5% of the loan amount, and the RM5 attestation fee for each loan withdrawal. More importantly, there is also the late payment which was listed at 8% per annum on the overdue monthly instalment. Not only that, this penalty is being charged on daily basis. As mentioned earlier, Shopee Malaysia is currently providing the SLoan service only to selected users for the time being. If you are one of them, you should be able to see the option just underneath the My Wallet section of your profile within the Shopee mobile app. [Thanks to anon for the tips!]
