When we issue the first tranche to a new borrower, we give the borrower's responsible person access to our back office.
You can add a new employee to BO at any time by sending request to Head of Financial Operations, Yulia Gribkova.
BO allows you
- Review tranche details and monitor subscriptions in real time;
- Check your platform wallet balance and how it is calculated;
- Check your repayment schedule;
- Initiate withdrawal requests and currency conversion requests.
New borrower BO onboarding
Initiating a new borrower account in Kilde BO:
- We kindly ask you to provide your deal manager with the name and email of the person(s) you want added to BO before the first tranche issuance;
- Once we receive this information, we create the account for the person(s);
- An automatic email with login instructions is then sent to the person(s);
- We follow up to confirm that the instructions have been sent and received;
- The person(s) must follow the instructions, create their account, and log in to BO - https://bo.kilde.sg/ using their new credentials.
- After creating an account on Kilde, the borrower must set up two-factor authentication (2FA) to enhance account security and avoid losing login access.
Adding bank account details:
For you to withdraw from the platform, we need to add your bank account details.
- By default, we will add the bank account specified in your loan agreement/service agreement;
- We accept multiple accounts, so you can add a new bank account or different currency bank details;
- to add a bank account, you must provide a confirmation from the bank confirming that you are the holder of the bank account (this can usually be downloaded from the bank app), or a signed letter from an authorized person (the same person who signed the loan agreement), as well as the bank account information to be added to our system;
- Once we receive the signed request, we will update the bank details in BO, allowing the borrower to initiate withdrawals from the newly added account.
Tranche details check
Move to the right to check out more information.
Target principal (1) - the entire amount of the tranche (you can find it in the Loan agreement, Annexe №1, Principal amount of the Loan);
Principal available (2) - the amount unsubscribed at the current moment;
Principal outstanding (3) - the amount subscribed by investors and transferred to your wallet at the current moment;
Principal subscribed (4) - the amount subscribed by investors but not yet transferred to your wallet.
Target principal = Principal available + Principal outstanding + Principal subscribed.
What is the difference between Principal outstanding and Principal subscribed?
Our system distinguishes between the subscription moment (at this moment, funds are transferred from the investor's wallet) and the settlement moment (at this moment, funds are added to the borrower's wallet).
The settlement moment depends on the terms of your agreement. In 90% of cases, settlement takes place every business day at 6pm SGT.
You can check the Principal subscribed to before initiating a withdrawal request.
Your wallet balance reconciliation
Account statement is presented in available currencies (USD, EUR and SGD).
You can switch between currencies. You can choose the statement period.
If you download the statement in Excel, you can also access summary information.
Please note that the principal amount does not equal the available balance even in case of full subscription due to Kilde`s fee, which is automatically deducted at the moment of settlement, and accrued interest, if any.
You can find the terms of Kilde`s fee in your Service agreement.
Accrued interest concept
Our system continuously calculates the coupon payment for the whole month/quarter.
This means that on your first coupon payment date, you must pay the coupon for the whole period. Not all investors subscribe on the first day of the coupon period; some subscribe later. When investors subscribe in the middle of the payment period, they will remit to the borrower the interest from the beginning of the interest period until they subscribe. This is called Accrued interest.
Repayment schedule check
Here you can find the schedule of your past and future payments and their status.
During the subscription, these amounts are recalculated at every settlement moment.
In the Principal column, you can find total principal repayment (always in the last row) and capital calls
Coupon payments
Coupons and capital calls are processed automatically after midnight on the coupon payment date, provided the borrower's wallet has a sufficient balance.
No coupon payment will be processed if the available balance is lower even by S$0.1.
Investors expect to receive their coupons early in the morning and may become anxious if they do not receive their coupon payment at the scheduled time. This can lead to further capital call requests and difficulties with subsequent subscriptions.
Therefore, we recommend that you top up on the day before coupon payment to avoid this.
How to top up the balance
You can initiate the payment using our escrow account bank details.
Bank: DBS Bank Singapore
Beneficiary Name: PERPETUAL (ASIA) LIMITED KILDE AC
Beneficiary Bank Account Number: 072-127069-2
Beneficiary Bank SWIFT/BIC Code: DBSSSGSG
Beneficiary Bank Address: 12 Marina Boulevard, DBS Asia Central, Marina Bay Financial Centre Tower 3, Singapore 018982
Beneficiary Address: 38 Beach road #23-11 South Beach Tower Singapore 189767
Your balance will only be topped up on weekdays if you use non-Singapore banks (we will notify you of any Singapore public holidays if that may affect top-up time).
If you use Singaporean banks, your balance will be topped up any day. However, we still need to manually allocate your payment to your wallet, so if you make a payment over the weekend, please let us know so we can allocate it in a timely manner.
Please check DBS bank charges for incoming and outgoing transfers below.
What else do you need to consider?
Kilde`s monthly fee is automatically deducted from your balance when you top up. You must take this into account when sending coupon payments.
For example, you pay a coupon quarterly in February, May, August, and November. Your coupon is $1,000. Your monthly fee is $200. You paid the coupon in February, and your platform balance is 0, so your monthly fee is not charged (no available balance).
You top up your wallet on May 31 with $1,000 (your coupon payment). At the moment of the top-up, the monthly fee (3*200) is deducted automatically, leaving your balance at $400, which is not enough for coupon payment processing.
Withdrawals requests
You can initiate withdrawal requests at any time. However, to have them processed by our bank on the same day, you must send them before 3pm SGT. If you send your request after 3pm, it will be processed by our bank on the next business day.
Please note that the amount you receive may vary due to bank charges. Information about bank charges is available below.
Currency conversion requests
You can initiate the SGD, EUR and USD conversion on the platform.
Currently, the system does not allow you to check the rate before initiating a request.
If you need to verify the exchange rate, please contact [email protected]
If your tranche is in SGD but want to receive USD, you can do the principal conversion on the platform.
You can also send your coupon payment in USD and we will convert it to SGD on the platform.
In this case, we advise you to keep a small balance on your wallet to avoid the risk of unfavourable exchange rate fluctuation between the time you send the payment and the time we receive it and initiate the conversion.
DBS Bank charges
Incoming
- Local Bank transfers between SGD - no charges
- Cross-border - TT (remitter bank/intermediary fee will be charged separately)
Outgoing
- Local SGD DBS - no charges
- Non DBS Banks SGD - Fast charges, S$0.5
- Cross Border - TT
