Frequently Asked Questions
Ask away. We don’t mind!
At BigFundr, our work enriches the lives of both our investors and property developers, by helping them meet their financial objectives and needs. Backed by Maxi-Cash*, we harbor big, bold ambitions to disrupt and reshape the savings industry, by introducing class-leading financial instruments that serve as meaningful alternatives to the traditional bank deposits. Being the first and only MAS-licensed Fintech lending platform that focuses on guaranteed, real estate-backed investments in Singapore, our investors will have peace of mind knowing that their principal and interest are fully guaranteed by Maxi-Cash*.
BigFundr holds dearly the belief that one does not need an abundance of wealth to create wealth. We seek to bring exclusive opportunities into the reach of ANYONE seeking secured investments. Through BigFundr, we hope to empower our customers with choice, and to work towards a more inclusive society.
The company stands by a set of core principles, which guide us in the way we conduct our business:
- Risk management
- Performance and value-creation
- Safeguarding clients’ interests
BigFundr believes that delivering superior risk-adjusted returns is more important than trying to attain the highest absolute returns. This requires us to primarily protect and mitigate our downside risks in all our investments by:
- Carrying out thorough due diligence and adhering to a strict set of investment criteria
- Exercising prudence in both our assessment of the market and our underwriting, to manage our downside risks appropriately
- Sticking to our core principles and rejecting deals that are not in line with our values
BigFundr offers investors exclusive guaranteed & real estate-backed investment notes.
- Full guarantee provision on your investment capital (principal and interest) by Maxi-Cash*
- Property as collateral (security)
- BigFundr has the first claim over the property (1st charge on the property)
- Loan-to-value ratio capped at 70%
- Borrower performance guaranteed by Maxi-Cash* (similar to point 1)
- Maxi-Cash* co-invests with you
Principal and interests are guaranteed by Maxi-Cash Capital Management Pte Ltd (Maxi-Cash*), a wholly owned subsidiary of Maxi-Cash Financial Services Corporation Ltd, the first publicly listed pawnbroker in Singapore. In addition, Maxi-Cash Financial Services Ltd is a subsidiary of Aspial Corporation Limited, an entity listed on the Official List of the Singapore Exchange Securities Trading Limited (the “SGX-ST”), with its main business in jewellery, property and financial services.
Financial information for both Maxi-Cash Financial Services Ltd and Aspial Corporation Limited are available on their website as well as on SGX-ST.
As BigFundr’s strategic partner and shareholder, Maxi-Cash* brings along a depth of understanding of the retail financing market, and a strong physical presence (48 outlets) in Singapore and its region. A well-regarded brand, Maxi-Cash* stands as the first public-listed (22 Jun 2012) pawnbroker in Singapore, and provides financial services in the form of pawnbroking, and retails gold, preloved branded timepieces, bags and jewellery. It is a subsidiary of Aspial Corporation Limited, an entity listed on the Official List of the Singapore Exchange Securities Trading Limited (the “SGX-ST”), with its main business in jewellery, property development and financial services. As the leader and innovator in the pawnbroking industry in Singapore, Maxi-Cash* is instrumental in changing the overall image of pawnbroking by allowing customers to enjoy modern, professional and “bank-like” pawning experiences.
Principal (or sometimes referred to as Capital) refers to the original sum of money put into the investment.
Interest refers to the cost of borrowing money or the reward for saving.
For all deals on BigFundr, you are guaranteed to receive your monthly (regular / periodic) interest payments for the length of the tenure as well as your principal at the date of maturity. This occurs “come rain or shine”, regardless of property damage or borrower default. This makes our product especially suitable for investors with a low-risk appetite, who want to maximise their savings, as we offer superior risk-adjusted returns compared to fixed deposits or leaving your money in savings accounts.
This means that BigFundr (on behalf of our investors) would be the first to be paid back upon sale of the property or if the property goes into default. Having the 1st charge security allows for the priority recovery of capital, the interest accrued, the payment of recovery fees and for the control of the recovery process.
BigFundr lends to a maximum of 70% of the property’s value. This is known as maximum Loan-To-Value (“LTV”). This provides a buffer for any changes in the property value on the market that could result in asset devaluation.
For all deals on BigFundr, Maxi-Cash* co-invests with our investors! This means that their money is also in the deal, and they share the same risks and interests as our investors. This means that their “skin is in the game” so all deals undergo comprehensive due diligence to ensure a win-win situation for everyone. In fact, the risk for Maxi-Cash* is even greater as they are guaranteeing your principal and interests as well.
In the unlikely event that the borrower misses out on their repayments, Maxi-Cash* will immediately step in to repay investors their due interest payments and principal at maturity.
You are right. We will qualify and onboard you as an account holder with BigFundr in accordance with regulations as stipulated by the Monetary Authority of Singapore (MAS), and you can proceed to choose an appropriate deal and invest.
Kindly note that:
- The minimum initial investment in any one deal is SGD 1,000
- The rate of return and tenure may differ from each deal
- You must commit your money to the full term of the investment ie. you will have to hold your investment till its maturity
You will be pleased to know that your monies will be kept secured in a dedicated Cash Administrator (independent third party) account until legal disbursement, and that your investment (principal + interest) are fully guaranteed by Maxi-Cash*.
All monies are held in a separate Trust account with DBS, and managed by Vistra, an independent third party Cash Administrator.
Our trustee, DBS Bank, ensures that all monies deposited in the escrow account are held on trust for BigFundr’s investors, and that the account must be distinguished and maintained separately from any other account which BigFundr owns and operates. DBS also cannot exercise any right of set-off against monies for any debt that BigFundr owes to DBS Bank.
A cash administrator is an independent 3rd party person/entity that administers property or money on behalf of someone while a transaction is being finalised. In the case of BigFundr, the appointed cash administrator (independent third party), Vistra, administers the investors’ money on their behalf, before these investors participate or invest in a deal. In addition, it will also administer money on behalf of investors when the loans are repaid.
The rate of return of an investment is dependent on the nature and tenure of the deal, as well as the quality of developer-borrowers. You can expect to earn interest returns of around Net 4% per annum (after admin fees) for a typical 3-12 month note.
You will earn interest income from the investments that you make on our platform. Interest income earned from such investments are currently non-taxable under the laws of Singapore. To be prudent, you should consult your tax adviser if you are unclear about your tax obligations. If you are a non-resident, you may also be subject to withholding tax on the interest.
Unless otherwise stated, BigFundr charges an administration fee of 15% from your interests earned (e.g. If your interest pay-out is S$100, our administration fee will be S$15.)
The contractual investment returns (Interest) we offer to you is around Net 3% (after admin fees) per annum.
You are not required to place any deposits until you are ready to invest. The minimum investment amount per deal is S$1,000, unless otherwise stated. Thereafter, incremental investments are in multiples of S$100.
Our team of in-market analysts and partners continuously source and run due diligence assessments over scores of projects that seek funding.
BigFundr’s Credit Assessment team and Investment Committee will make the call on which viable projects to commit to, and to offer to you, using a safe, conservative approach like we always do.
As a guide, we will only invest in developers with ongoing projects with proper permits and actual building works in progress. BigFundr does not engage in land banking or similar activities. Each project will be monitored through progressive reports issued by independent Quantity Surveyors on the ground, acting for the interest of Lenders.
Our term-loans to developers usually range from 3 months to 12 months with varying rates of interest charged, and the various repayment schemes as follows:
Note: The type of repayment scheme for each loan will be stated clearly in each loan deal published on BigFundr.
|Bullet||A single lump sum payment of interest & principal at the end of the term.|
|Monthly||Monthly payment of interest, with the final month's interest & principal paid at the end of the term.|
|Quarterly||Quarterly payment of interest, with the final quarter's interest & principal paid at the end of the term.
|Semi Annually||Half yearly payment of interest, with the final half yearly's interest & principal paid at the end of the term.
|Annually||Yearly payment of interest, with the final year's interest & principal paid at the end of the term.
Certainly! We encourage you to spread your investments across a few deals of varying returns and terms, to diversify your investments and risks. We also encourage you to reinvest the interest received and realise the power of compounding returns (you may refer to our wealth calculator).
Yes you may, as long as the deal is still open to receive funding on our website. Your interest pay-out will still enjoy our promised simple rate-of-return, albeit only for the remaining months till maturity of the note. Alternatively, there will always be new deals available for you to consider.
Once your funds have been invested in a deal, we would need your commitment to hold the investment till the maturity.
Diversification ensures that the risks you hold are spread out across multiple investments, forming a portfolio. With BigFundr, all principals and interest returns are guaranteed by Maxi-Cash*, so there may be no compelling need for diversification. However, investors may want to invest in multiple deals to average out the rate of investment returns.
Of course you can! Upon the maturity of a deal which also marks the end of a contract, your principal sum will be returned and reflected in your “My Balance” in your BigFundr account where you can again choose the next deal to invest in!
BigFundr operates as an online platform, where you will be able to enjoy 24/7 seamless access into your BigFundr account, statements and transaction records -- all at your finger- tips!
However, we will assign you a dedicated relationship manager when you register yourself as an Accredited Investor with a minimum investment sum per deal of S$200,000 or more.
According to the Monetary Authority of Singapore (MAS), to be an accredited investor, one must be:
- An individual with an income of not less than $300,000 in the past 12 months; or
- An individual with a personal net asset in excess of $2 million (or its equivalent in foreign currency), of which no more than $1 million can be contributed from the individual’s primary residence; or
- An individual with net financial assets exceeding SGD1 million (or its equivalent in a foreign currency) in value;
As an Accredited Investor* with BigFundr, you will have access to a wider suite of specifically curated wealth solutions and services not available to the Retail Investors. With a minimum investment of S$200,000 per deal, you will get to enjoy:
- Privileged access to a wider range of financial products
- Simplified investment / trading processes
- Exclusive / Preferred rates
- Access to a dedicated BigFundr Client Advisor
- Invitations to exclusive events, seminars and publications
We’re afraid not. In order to provide you with higher investment returns, we need your commitment to remain invested through the full term of each deal.
You will invest and receive your proceeds in SGD, so you will not be exposed to currency risks unnecessarily.
No. BigFundr only puts up carefully-assessed projects from developer-borrowers (or at times through professional and institutional debt fund managers) onto the platform.
In cases where we fund projects through any of our partners, BigFundr will always highlight this in the factsheet.
Loans which have cleared the Investment Committee will be fully funded. We may raise funds from retail, accredited or institutional investors. Maxi-Cash* may co-invest together with the investors.
All verified BigFundr users are eligible to participate in BigFundr's referral programme. Find out more about our referral programme.
Under normal circumstances, the Borrower will transfer BigFundr your principal (in foreign currency) 1 business day after the maturity date. Upon receiving the sum, BigFundr will then send this amount to our currency changer for conversion back to Singapore Dollars. Your balance will only be updated after the process is complete. This may take up to 5 business days after the Deal maturity date. However, BigFundr will always strive to return your principals as soon as possible if the situation permits.
(Please note that this process will generally apply to all Deals, however there may be unique circumstances that are Deal-dependent, so kindly allow for variation of +/- 3 days.)
Early redemption of a Deal occurs when the borrower repays the loan before the loan's maturity date. This can occur for a variety of reasons such as construction works finishing ahead of schedule, or the borrower securing alternative funding and thus no longer requiring their loan with BigFundr.
When this happens, your principal and prorated net interest will be paid back to you ahead of schedule. Prorated interest means that instead of receiving full interest based on the original Deal tenure, interest will only be paid up to the date of redemption.
For example, if the Deal you invested in has a tenure of 12 months but early repayment is made on the 15th day of the 8th month, you will in total receive your principal and the additional interest of 1) monthly net interest for 7 months and 2) prorated 15 days of interest in the 8th month.
BigFundr operates as a small and lean team; we conscientiously strive to manage our cost of operations – we just work hard and earn enough to cover costs. It helps greatly by partnering Maxi-Cash to provide capital and interest guarantees on our deals, so that we don’t have to pay unsustainable rates to our investors.
Yes, BigFundr’s investors will be informed. Being incensed and regulated by MAS, we are required to do so and file a report to MAS too!
In an unlikely scenario that the developer-borrower misses or delays on the interest or principal repayments, Maxi-Cash* will step-in and take over the repayment obligations promptly.
In the unlikely event that the borrower defaults, BigFundr has the right to liquidate the property to recover the funds. Regardless of the property liquidation outcome, Maxi-Cash* will step-in and take over the repayment obligations promptly; investors will receive their principal and remaining interest payments as scheduled.
NO. Maxi-Cash* provides full guarantee on your interests every month, and your principal upon maturity, as stated in the contract. In an unforeseen scenario that a developer-borrower defaults, Maxi-Cash* will immediately step-in and take over the repayment obligations as stipulated.
At BigFundr, our Credit Assessment Team Investment Committee performs stringent and robust credit risk assessment checks on the developer-borrowers, such as an in-depth review on the financial and bank statements, as well as the credit ratings (individuals and directors). The results of such reviews will be made available to all investors on the deal’s factsheet provided.
All our projects will have to pass through a strict set of investment criteria and assessments as set out by our Credit and Investment Committee, after which they will then be put through full legal and property due diligence. This is carried out by independent lawyers in the home jurisdiction of the projects.
Only when all these are cleared and satisfied that BigFundr will put the deals on our platform for our investors to invest.
You may be pleased to know that all your investment monies will sit in a dedicated deal cash administrator (independent third party) account until legal disbursement, so your money is always secure. All retail investors’ monies are also fully guaranteed by our partner-shareholder, Maxi-Cash*.
Both Bigfundr and Maxi-Cash have our respective independent Credit Assessment committees to evaluate and assess every single deal proposal, in addition to those performed by our external loan managers. At Bigfundr, we have a robust credit scoring process that comprises evaluation components such as country, tax, screening, structural and operational risks.
Some of the perimeters that BigFundr takes into consideration are location, complexity of construction, construction stage of the project, affordability of the end project and the credibility of the borrower and sponsors. It’s only when all boxes are ticked, then we will present the proposed deal to the Investment Committee for further evaluation.
BigFundr operates under the strict purview of the Monetary Authority of Singapore (MAS), and we abide by the codes of practice prescribed, to the highest level.
Every new entrant in the market has to pass the rigorous licensing and operational accreditation set out by MAS to protect you, the Retail Investor.
We hold a Capital Market Services(CMS) licence. (CMS101098)
All your monies are transacted directly with the borrowers, through our appointed cash administrator (independent third party), so nobody in BigFundr will get access to your monies invested!
Our partner-shareholder, Maxi-Cash*, provides full guarantee on all investors’ principals and interests.
All investments will be transacted and repaid in SGD; your investment will NOT be exposed to any currency exchange risks.
BigFundr subscribes to, and maintains our back-end IT systems with industrial best-practice grade solutions, as used by banks and financial institutions. We also subject our platform to regular security checks by external IT Specialists, as well as audits by independent auditors.
When you close your BigFundr account, we note the withdrawal of your consent to collect, use or disclose your personal data.
Please be assured that BigFundr complies with Section 25 of the Personal Data Protection Act 2012 and will cease to retain personal data when retention is no longer necessary for legal or business purposes.
The typical construction period is around 24 months. BigFundr prefers to take a conservative approach, and fund the projects only towards the later stages of construction. We prefer to keep the tenures short, when the developments are already at the late stage of construction, and that we can witness them on-site by our representatives. At this stage, considerable units may have been sold or rented out, minimising any potential default risks. Once the construction is completed, the borrower will then proceed to refinance the loan with the big banks, and we will return the proceeds to our investors.
To start, simply register an investor account with BigFundr on our platform and complete the registration form:
- Via “MyInfo”, if you are a registered user with Singpass
- Manually (You will need to submit your identification documents)
Under normal circumstances, your account should be activated in no longer than 3 business days. Upon activation of your account, you can view & invest the available deals on the platform. Should you like to participate in any deal, you can transfer the funds to the BigFundr’s cash administrator (independent third party) account as listed on the platform.
To begin, click here to sign up.
You do not need to place an initial deposit to open an account with BigFundr. When you are ready, the minimum amount to invest in a deal is S$1,000.
If you are registered with Singpass, you may choose to complete the sign up process via MyInfo. With this option, it is unlikely that any additional supporting documents will need to be submitted as your information will be retrieved from your Singpass account.
If you choose to complete the sign up manually, you will need to submit the following documents:
- Proof of identity
- Front and back of your National Registration Identity Card; or
- Front and back of your Work Pass (e.g. Employment Pass, EntrePass, S Pass, Work Permit); or
- Passport (biometric page) with a minimum validity of 6 months
If you are a non-Singaporean, you will also need to submit:
- Proof of residency
- Document must be issued and dated within the past 3 months;
- Document must display both your registered full name and your registered address as indicated on your BigFundr account;
- Examples of acceptable documents include utility bill, bank statement, telecommunications bill, other statements from relevant government authorities (e.g. Central Provident Fund, Housing & Development Board, Inland Revenue Authority of Singapore)
To fund your BigFundr account, you can make your deposit using the following 3 methods:
- Online Bank Transfer
- Over The Counter (at your bank physically)
Do follow the instructions in the “Deposit” page after you login.
IMPORTANT! Please remember to use your “DEPOSIT REFERENCE CODE” in each transaction, otherwise we will be unable to match your deposits to your BigFundr account.
Under normal circumstances, you should be able to view your transferred funds in your BigFundr “My Balance” within 2 business days upon successful verification.
You may initiate a withdrawal (subject to a minimum of S$20 for each request) through the “Withdrawal” tab under your account. Kindly follow the “Withdrawal Instruction” as stated. Under normal circumstances, your withdrawal amount will be reflected in your bank account within 3-5 business days after initiating a withdrawal request. BigFundr does not impose any withdrawal costs on you.
Any withdrawal initiated between 0000 hours and 1700 hours will be taken in on the same day, followed by another 3-5 business days for processing. The 3-5 business days exclude weekends and public holidays. For withdrawals initiated after 1700 hours, the withdrawal request will be taken in on the following business day.
The minimum withdrawal limit per withdrawal is S$ 20.
We only require a screenshot of your bank statement when you decide to withdraw your funds, to make sure your funds are transferred to your correct and designated bank account in your name.
The withdrawn amount will be transferred to your bank account within 3-5 business days.
The minimum investment amount for every Deal is stated on each Deal page. The majority of BigFundr's Deals have a minimum investment amount of S$1,000.
There is, however, no minimum deposit, i.e. funds transferred to BigFundr. Deposited funds sit in your BigFundr account balance until you invest the funds in a Deal.
The monthly statements are generated and made available online, month-to-date on demand. Eg: Today's date is 16 Jan, upon request, January's monthly statement will be generated from 1 to 16 Jan.
All statements can be accessed online.
You may do so by referring to your “My Portfolio” section on the BigFundr platform for your monthly online statements. If you require additional help, please contact us at [email protected], and we will be happy to assist you.
You can check your particulars under the “Profile” section of your account. If you require additional help, please contact us at [email protected], and we will gladly assist you.
You may update your particulars under the “Profile” section of your account. However, if you intend to change the bank account linked to your BigFundr account, the account must still be in your name. Please contact us at [email protected], and we will be happy to assist you.
Simply reset your password on the login page. Click on the “Forget Password?” link, which will bring you to a separate webpage prompting your email address. Enter your email address and wait for an email with instructions on how to change your password.
Yes, you may update your Suitability Assessment type anytime in the “My Profile” section, and as part of MAS regulations, all investors are required to update their Suitability Assessment type; BigFundr will send all the investors a reminder to do this annually.
Definitely! All your details are kept private and will not be disclosed to developer-borrowers or any third parties. However, as the cash administrator (independent third party) needs to perform “know-your-customer” (KYC) checks before managing your funds, your details will only be shared with them.
All personal details will be kept in accordance with the Personal Data Protection Act (PDPA).
Each deal includes a factsheet that contains information on the developer-borrower.
Unfortunately, investors cannot contact the developer-borrowers. However, you can approach us with any concerns you might have regarding a particular deal, and we will do our best to answer them, while seeking the borrowers’ input where required.
You may withdraw all your available balances from your “My Balance” and email us @ [email protected] to close your account if you are no longer participating in any active deal.
No, every account is exclusive.
We will close and assign the monies in your account to your nominee in accordance with the prevailing laws and regulations (Intestate Succession Act). Next of Kin information facilitates the assignment process, and it is optional.