Does MoolahSense charge a fee to Investors who invest on the platform?
Yes, an investor who has made investments on our platform will be charged an Investor Servicing Fee.
The Investor Servicing Fee is a payment made by investors in consideration of MoolahSense’s role in administrating and facilitating the issue of Promissory Notes.
Additionally, beginning 01 APRIL 2020, MoolahSense will be implementing a Dormant Payee Annual Service Fee of S$50/year (inclusive of GST). This is to cover the operational costs of maintaining investors accounts with no activity over an extended period of time. Payees (Investors) who have (a) no active promissory notes (i.e. either no investments in any notes or invested notes have all matured; and (b) no new investments in the last 12 months will be considered as Dormant. For avoidance of doubt, on 01 APRIL 2020, Payees with no active notes and where the last investment predates 31 MARCH 2019 will be classified as Dormant and the Annual Service Fee of S$50/year will be applied.