When it comes to private credit income investments in Singapore, two platforms stand out: Kilde and Endowus. Kilde is a MAS-licensed alternative investments platform offering senior-secured private credit bonds to accredited investors, with target yields of 11–15% per annum and fixed monthly interest payouts. Endowus, by contrast, offers multi-asset Income portfolios (e.g. Stable, Higher, and Future Income portfolios) that deliver monthly income through diversified funds of bonds and equities, with targeted yields up to ~6.5% p.a.. Both aim to provide a stable monthly income investment solution but differ greatly in yield, asset backing, liquidity, and risk. Below, we present a detailed comparison of Kilde vs Endowus to determine which platform can deliver higher and safer monthly income for your needs.
TL;DR – Quick Comparison Highlights
- Yield: Kilde’s private credit deals target ~11–15% p.a. net returns (fixed coupon interest), far exceeding Endowus Income portfolios’ ~3.5–6.5% p.a. targeted yield range. In other words, Kilde offers roughly 2–3× higher yield than Endowus’s multi-asset income funds.
- Asset Backing: Kilde’s investments are asset-backed. You invest in senior-secured bonds (debentures) collateralized by borrowers’ loan portfolios (typically with ~160% cash coverage). Endowus Income portfolios hold diversified unit trusts of bonds and equities; there is no specific collateral for Endowus investors, as your capital is subject to market fluctuations across the underlying funds.
- Payout Frequency: Kilde pays interest income monthly (some deals pay quarterly) to investors’ accounts. Endowus also delivers monthly income distributions—all funds in the Endowus Income portfolios distribute every month (except one equity fund, which pays quarterly), so investors can generally expect payouts every month.
- Liquidity: Kilde’s private bonds have fixed terms (typically 3–36 months) and are not on-demand liquid – you normally hold to maturity, though most deals offer early exit windows every 3–6 months for withdrawals if needed. Endowus portfolios have no lock-up; you can redeem anytime, with withdrawal of funds usually completed in ~3–5 business days (T+4). In short, Endowus offers much higher liquidity and flexibility for early exit, whereas Kilde requires a committed investment period (with limited early redemption opportunities).
- Regulation & Custody: Both platforms are MAS-licensed and employ secure third-party custody for client assets. Kilde holds a MAS Capital Markets Services Licence (CMS101016) and is exclusive to accredited investors; client funds are held in a DBS Bank trust account (segregated from Kilde’s own assets). Endowus is MAS-licensed (CMS License 101051) and regulated as a digital financial adviser; when you invest, your assets are held in your own name via UOB Kay Hian, a MAS-regulated brokerage. It means neither platform ever directly holds your investments – they act as advisors/ intermediaries with robust custodial arrangements for safety.
Kilde vs Endowus – Feature Comparison Table
Table Notes: Both platforms are MAS-regulated and designed for passive income, but their offerings differ significantly. Kilde’s secured private credit bonds provide higher fixed returns with collateral and a short-term tenure, which is suitable for investors who can commit funds for a few months or years. Endowus’s Income portfolios offer a lower-yield but highly liquid option, blending global bond and equity funds to balance income and growth. The right choice depends on your required yield, liquidity needs, and investor accreditation status (Kilde is for Accredited Investors only, whereas Endowus is open to retail investors).
Business Model & Underlying Assets
Kilde – Private Credit & Asset-Backed Lending: Kilde operates as a private credit investment platform, connecting investors to high-yield loans made to non-bank financial institutions (NBFIs) like consumer lenders and fintech firms. Essentially, Kilde curates private bonds (debenture notes) that fund these lending institutions’ loan portfolios. Each deal is typically a senior-secured loan to an NBFI, backed by a pool of receivables (e.g. consumer loans) which generate cash flow. The collateral value usually covers ~150–160% of the investment amount, providing a substantial buffer. This asset-backed model means that if a borrower fails to pay, Kilde (as the debenture issuer/trustee) can enforce the collateral (such as liquidating the underlying loan portfolio) to recover investors’ money By acting as a direct lender (through debentures) with only one intermediary (Kilde) in the chain, costs are kept low and more interest passes to investors. Kilde’s Investment Team uses stringent credit selection, reportedly approving only ~9% of potential borrowing institutions after risk assessment. Kilde’s underlying assets are private debt obligations that generate high fixed interest, a niche asset class offering contractual income uncorrelated with public markets. Investors become bondholders receiving a fixed coupon of ~1% per month, secured by collateral and legal contracts, rather than owning a slice of a mutual fund or stock.
Endowus – Multi-Asset Income Funds: Endowus’s Income portfolios take a very different approach – they are essentially fund-of-funds portfolios composed of unit trusts (mutual funds) focusing on dividends and interest. Endowus offers three main Income portfolios (Stable, Higher, Future Income), each with a preset asset allocation. For example, the Stable Income portfolio invests in 100% fixed income funds, aiming for capital preservation and steady coupons (~4–5% p.a. payout targeted). The Higher Income portfolio holds ~80% in fixed income funds (including some higher-yield bonds) and ~20% in equity income funds, to target a higher payout (~5.5–6.5% p.a.) while taking on more risk The Future Income portfolio adds even more equities (~40%) for long-term growth, with a lower current yield (~3.5–4.5% p.a. target). Under the hood, these portfolios invest in dozens of institutional-class funds managed by top fund houses – e.g. global bond funds (PIMCO, JPMorgan, etc.), dividend equity funds, REIT funds, etc. – providing broad diversification across hundreds of underlying securities. Unlike Kilde’s direct loans, Endowus does not lend directly or hold specific collateral; instead, your money is spread across public bond markets and stock markets worldwide via the funds. The business model is that Endowus acts as a fee-based advisor/aggregator: it selects best-in-class income funds, packages them into a portfolio, and manages/rebalances as needed. It yields a convenient one-stop solution for passive income, but with market-driven returns. In summary, Kilde gives you exposure to private debt deals (earning interest from borrowers), whereas Endowus gives you exposure to mutual funds (earning dividends/coupons from global markets).
Income Predictability vs Volatility
Predictability of Income: One major difference is how predictable and stable the income stream is. Kilde offers a fixed income – when you invest in a Kilde deal, the interest rate is contractually agreed (e.g. 1% per month), so barring a borrower default, you’ll receive a steady coupon at a fixed rate each period. It means your income is pre-defined and does not fluctuate with market conditions. Kilde emphasises delivering “consistent monthly cash income” instead of relying on capital gains. Investors know exactly what interest they’ll earn (e.g. a 12% annual rate paid monthly), providing a high degree of cash flow predictability. The only variability might be if a deal pays quarterly instead of monthly, but the rate itself is fixed. Endowus’s income payouts are variable – the portfolios aim for a target range (e.g. ~5.5–6.5% p.a.), but distributions are not guaranteed or fixed. The actual dividends received depend on the underlying funds’ performance and distribution policies. Endowus’ team sets an expected “payout rate” for each portfolio, and they endeavour to keep it stable, but it can be revised over time as interest rates and market yields change. For instance, Endowus recently maintained its payout targets (e.g. up to 6.5% for Higher Income) even after rebalancing the portfolio. Still, they caution that “payouts are not fixed, with changes in market conditions inevitably leading to changes in payout levels”. Additionally, payout timing can vary slightly: while essentially monthly, the actual deposit dates in a given month may differ since each fund pays on different schedules. Overall, Kilde’s income stream is more predictable (fixed interest payments like clockwork), whereas Endowus’s payouts can fluctuate year to year or month to month (though within a range).
Volatility of Principal: Another aspect of stability is what happens to your principal value over time. With Kilde, your investment principal remains at par value throughout the term (it’s a loan, not marked-to-market daily). You receive interest, and at maturity the full principal is returned (assuming no default). There’s no daily price volatility on your account – the only risk to principal is if a borrower defaults and collateral recovery fails (which has not happened so far). In contrast, Endowus’s portfolios are subject to market volatility: since you hold mutual funds, the NAV (net asset value) fluctuates daily with bond prices and stock prices. If markets decline, the value of your portfolio can drop. For example, during market downturns, the Income portfolios have seen drawdowns; historically, the worst-case 3-year return was about –22% (annualised) for the higher-risk portfolio, indicating that an investor could see double-digit percentage dips in portfolio value in bad markets (e.g. rising interest rates or equity bear markets). The trade-off is that Endowus portfolios also have some growth potential (from equity appreciation), whereas Kilde’s return is purely interest with no upside beyond the coupon. If markets perform well, Endowus’s portfolio NAV can rise (delivering capital gains on top of income). Still, if markets perform poorly, one might even experience a period where payouts partially come from capital or get reduced and principal value declines. Endowus designed the Stable Income to “not eat into capital” for payouts, meaning it tries to pay out only the interest earned, but in extremely low-yield environments, even bond funds could dip into capital for distributions. In summary, Kilde provides a stable, predetermined income and principal stability (apart from credit risk), whereas Endowus provides a variable income with underlying principal volatility, balancing income and growth. Investors who cannot tolerate seeing their account value fluctuate might prefer Kilde’s steady-value approach. At the same time, those okay with some ups and downs for long-term growth may find Endowus acceptable.
Risk Management & Collateral Controls
Kilde’s Risk Management: Managing credit risk is paramount for Kilde, given the high yields. Kilde employs a multi-layered risk management and collateral control strategy. First, Kilde’s team uses proprietary AI-driven credit analytics to vet potential borrowers rigorously – only ~9% of borrowers pass their strict criteria and due diligence. They analyse each NBFI’s loan book performance, financial health, and require that the loans being funded are of good quality. Second, Kilde structures each deal with robust collateral: the debentures are senior-secured obligations, meaning Kilde’s investors rank first in claim on the borrower’s assets/receivables. The underlying loan receivables (the collateral) typically have a Loan-to-Value (LTV) of ~70%, or in other words, the collateral value is around 1.4–1.6× the investment amount – this over-collateralization provides a cushion against losses. If a borrower were to default on payments, Kilde could seize and liquidate these receivables; the excess collateralization would increase the likelihood of full recovery for investors. To date, this model has worked with 0% defaults and 0% losses on Kilde’s platform. Kilde also monitors the borrowers continuously – it receives regular data on the underlying loan portfolio (hundreds of thousands of micro-loans) and can spot any deterioration early. In addition, many Kilde deals incorporate reserve accounts or cash buffers, and interest collections pass through Kilde before going to the borrower, ensuring investors get paid first. Lastly, diversification: while each deal is one borrower’s portfolio, Kilde often suggests investors spread across multiple deals, and each deal itself is diversified into thousands of end-borrowers (reducing idiosyncratic risk). The end result is a heavily secured lending structure: as Kilde describes, “our senior-secured debentures, backed by loan portfolios, are typically supported by 1.6× the value of the investment”, making investors first in line for repayment. Of course, private credit isn’t risk-free – a severe downturn could cause many underlying loans to go bad – but Kilde’s controls (selection, collateral, oversight) are designed to mitigate risk to a level where high yields can be achieved without any defaults so far.
Endowus’s Risk Management: Endowus approaches risk differently, focusing on market risk and portfolio construction. As an MAS-licensed fund advisor, Endowus’s role is to choose and manage a portfolio that balances income and risk. Key risk management elements include: broad diversification (each Income portfolio holds 10–20+ funds, each fund holding hundreds of securities globally, so there is no single-credit risk concentration), and asset allocation aligned to risk level (e.g. Stable Income 100% high-quality bonds for minimal volatility, Higher Income adding some risk assets for higher return). Endowus’s investment office regularly reviews and rebalances the portfolios. In 2023–2024, for instance, they implemented a “recommended portfolio change” to de-risk the Income portfolios given the higher interest rate environment. This involved reducing exposure to higher-risk assets – e.g. cutting emerging market and high-yield bond allocations – while introducing more investment-grade funds and diversifying fund managers. The result was a reduction in portfolio volatility without sacrificing payout targets. Unlike Kilde, Endowus does not have collateral for downside protection; instead, risk is controlled by quality and quantity: quality of funds (only reputable fund houses and typically diversified, income-oriented funds) and quantity of holdings (so that no single default or event materially hurts the portfolio). The Income portfolios are designed to withstand market swings by being multi-asset: when equities fall, bonds might buffer and vice versa. Still, investors bear market risk – for example, in 2022, when both stocks and bonds fell, the Income portfolios saw negative total returns (even though payouts continued). Endowus does not promise a fixed payout to manage sequence risk; they can adjust the monthly distribution if the underlying yield drops to avoid depleting capital. Importantly, Endowus clients’ assets are held in custody under their own name, which eliminates the counterparty risk of Endowus itself (if Endowus were to fail, your funds would be intact at the custodian). In summary, Endowus relies on diversification, prudent fund selection, and periodic rebalancing to manage risks, whereas Kilde relies on strict credit underwriting and collateralisation to control risk. Both have strong records so far – Endowus’s approach has delivered the targeted income with manageable volatility, and Kilde has maintained a perfect record with no losses.
Regulatory Oversight & Custody
Regulatory Oversight: Both Kilde and Endowus are Singapore-based and regulated by the Monetary Authority of Singapore (MAS), but under different licenses due to the nature of their businesses. Kilde holds a Capital Markets Services (CMS) Licence (License No. CMS101016) issued by MAS. This license (under the Securities and Futures Act) permits Kilde to deal in capital market products (e.g. securities/debentures) and operate an investment platform for accredited investors. Kilde is also an Exempt Financial Adviser, meaning it can provide advice incidentally to its business regarding deal arrangements. MAS oversight ensures Kilde meets capital requirements, compliance standards, risk management, and audit standards. Notably, Kilde’s offerings are only open to Accredited Investors as defined by MAS, part of the regulatory framework to protect retail investors from high-risk products. Endowus is licensed slightly differently: Endowus operates under a MAS Financial Adviser’s license and/or CMS license for fund management (Endowus has CMS Licence No. 101051). In practice, Endowus is often described as a digital financial advisor/wealth manager. It advises on and manages portfolios of collective investment schemes (unit trusts) for clients, including CPF and SRS money, and is held to MAS standards for advisers (e.g. fit and proper management, disclosure requirements, etc.). Both companies being MAS-licensed means they undergo regulatory audits and must segregate client assets properly. One advantage of regulated platforms is investor recourse and trust – for example, unlike unregulated private schemes, Kilde operates under Singapore’s strict financial laws, providing compliance and investor protection assurances. Likewise, Endowus’s MAS license reassures that it’s not a fly-by-night operation; it’s subject to the same laws as banks/brokers in handling client money.
Custody of Funds: A critical aspect is who holds your money and assets. Neither Kilde nor Endowus actually hold client assets on their own balance sheet; they use third-party custodians/trust accounts for safety. Kilde: When you invest via Kilde, your money typically goes into a trust account at DBS Bank (Singapore’s largest bank) under a trust arrangement. From there, funds are channelled to the specific investment (the debenture issuance). Any interest payments from borrowers flow back into the DBS trust account and then to you as the investor. This structure ensures that even if Kilde (the company) encounters issues, investor funds are ring-fenced and safe at the bank, not accessible to Kilde’s creditors. Kilde explicitly notes that “Customer funds [are] safeguarded by DBS Bank” and that the platform would continue operating until all investments are paid out in a hypothetical cessation of Kilde's business. Endowus: When creating an Endowus account, a personal securities account is opened in your name at UOB Kay Hian (UOBKH). UOBKH is a MAS-regulated brokerage that serves as custodian for Endowus clients. All your fund holdings (whether unit trusts, cash management products, etc.) are recorded in that UOBKH account. Endowus executes transactions on your behalf, but your assets are held in a segregated account under your name at the custodian. It means even if Endowus were to shut down, you still legally own those funds and could access them via UOBKH. Additionally, any cash you hold with Endowus (uninvested monies) is kept in a trust account with a licensed bank as well (for example, cash may also be held with UOBKH or a designated bank trust). Both platforms thus adhere to the principle of separating client assets from company assets, a key safeguard.
Regarding investor protection schemes, note that these are investments, not bank deposits, so Singapore’s deposit insurance doesn’t apply. However, MAS regulation and the custody setup provide strong protection. It is also worth noting that Endowus caters to retail investors, so it has to comply with stricter advertising and business conduct rules for retail products. At the same time, Kilde’s accredited-only focus allows it to offer higher-risk/reward products not registered for public distribution. Each platform clearly discloses the risks and prominently displays their MAS license details and disclaimers (e.g., Kilde’s website footer shows its CMS license and states offerings are for accredited investors ). In short, both Kilde and Endowus operate under MAS oversight, with robust custody arrangements ensuring that your investments are held safely in your name (UOBKH for Endowus) or a client trust (DBS for Kilde). It significantly reduces operational risks – you need only focus on the investment risks (credit or market risk) when choosing between them, rather than worrying about fraud or misappropriation of assets.
Fees & Net-of-Fee Returns
Kilde’s Fees: Kilde keeps its fee structure simple: it charges a flat annual platform fee of 0.5% on invested capital. It is essentially an annual management fee for administering the deal, significantly lower than typical private credit funds or other intermediated products. There are no upfront fees (no entry or origination fee charged to investors) and no performance fee – you get the stated interest rate, and Kilde’s 0.5% is already accounted for in that rate. For example, if a deal offers investors a 13% p.a. coupon, that is net of Kilde’s cut (Kilde might have arranged it at ~13.5% from the borrower and keeps 0.5%). Kilde highlights that its investors have realised ~12.6% net annual returns since launch, underscoring that the advertised yields are after fees. There are also no fees to withdraw or exit a Kilde investment (aside from any potential early redemption discounting of interest, if that applies on certain deals). The transparency is high – Kilde earns 0.5% and nothing more, aligning its success with the investors’ success (if the investor doesn’t get paid, Kilde doesn’t earn its fee either).
Additionally, there are no hidden fees: no platform subscription cost and no custody fee charged to the investor (the custodian cost is built into the 0.5%). Overall, Kilde’s fee is low given the double-digit returns—for instance, private credit funds often charge a 1–2% management fee plus performance fee, and even retail bond funds charge ~1 %+ in expense ratio. Still, Kilde operates more efficiently using technology and focusing on a niche.
Endowus’s Fees: Endowus charges an “Access Fee” (advisory/management fee) for its services. The fee ranges from 0.25% to 0.60% per annum, depending on your total assets with Endowus (and the portfolio type). The typical fee for cash investments in the Income portfolios is 0.60% p.a. for amounts up to S$200k, dropping to 0.50% for larger amounts, and as low as 0.25% for very large portfolios (above S$5M). It is an all-in wrap fee for Endowus’s advice, platform, and custody. In addition, the underlying funds have their own fund manager fees, but Endowus rebates all trailer commissions and has selected low-cost institutional share classes. In practice, the fund-level fees for the Income portfolio might be around ~0.5–0.6% p.a., but Endowus returns any trailer fee portion to the client, effectively reducing the net fund cost. For example, Endowus states that it provides 100% cashback on trailer fees 0% sales charges and no transaction fees. You don’t pay any front-load or back-end load that traditional brokers might charge for unit trusts. The net result: if the underlying funds have an expense ratio of say 1.2% but include a 0.6% trailer, Endowus rebates that 0.6% to you, so your effective fund cost is 0.6%, plus Endowus’s Access Fee of 0.6%, totalling ~1.2% all-in. Importantly, the quoted yield figures (e.g. 5–6.5% p.a.) for Endowus Income portfolios are before deducting Endowus’s fee. The site explicitly notes that “Figures do not include… Endowus Fee”. So if you’re targeting a 6% gross yield and you pay a 0.6% fee, your net yield would be around 5.4%. Endowus’s philosophy is transparency in this fee-only model (no hidden commissions). Compared to other managed solutions (like traditional wealth managers or robo-advisors), a ~0.6% fee is quite competitive for an actively managed income portfolio. However, it does eat into the thinner yields. Net-of-fee returns: Historically, if the Income portfolio delivered ~5% net of fund fees and you paid ~0.6% to Endowus, you’d get ~4.4% net. With today’s higher yields (target up to 6.5%), the net might be ~6% after fees for a typical investor, still less than half of Kilde’s net returns. One could argue Kilde’s higher returns more than compensate for its fee, whereas Endowus’s lower returns still have a fee drag. However, one should also consider risk-adjusted returns and convenience. Endowus provides liquidity and broad diversification for that fee, and handles all rebalancing automatically. Also, note that Endowus has no separate custodian fee or other charges; everything is included in the one Access Fee. There are no withdrawal penalties (aside from selling funds, possibly crystallising any market loss/gain). In summary, Kilde charges 0.5% for potentially ~12 %+ net returns, and Endowus charges ~0.6% for ~5–6% gross returns, making Kilde’s fee-to-return ratio very attractive. However, Endowus’s absolute fees are low in the context of retail investing, and you get professional portfolio construction for that cost. Depending on your investment size, Endowus’s fee may drop (e.g. 0.5% if >S$200k). For accredited investors who qualify for Kilde, the fees are likely not the deciding factor – yields and risk are – but it’s clear that both platforms adopt a transparent, relatively low-cost fee model compared to industry norms (no hidden fees, no performance fees, and clear disclosure).
Liquidity & Early-Exit Mechanics
Kilde – Tenors and Early Redemptions: Liquidity is the key trade-off for Kilde’s high returns. When you invest in a Kilde private credit deal, you are committing funds for a fixed term – the typical tenor ranges from 3 months up to 36 months. Many deals fall in the 6–18-month range. During this period, you cannot freely trade or redeem your investment on demand like a mutual fund. However, Kilde offers early-exit options in most deals: often, there are predefined early redemption windows every few months. According to Kilde, “most KILDE investments offer early withdrawal options every 3–6 months”. In practice, this means, for example, a 12-month note might allow investors the option to exit at the 6-month mark (with notice), or a 24-month note might have exit windows at month 6, 12, 18, etc. If you exit at one of those windows, the borrower will repay that portion of the notes (or Kilde will find other investors to take over). It provides some flexibility for investors who might need liquidity before final maturity – it’s more flexible than many other private credit funds, which lock you in entirely. That said, early exits are not instantaneous or guaranteed at arbitrary times. You generally have to inform Kilde of your intent before an exit window, and you can only withdraw at those intervals. If you suddenly need cash at a non-window time, you may not be able to get it until the next window or maturity. There is no public secondary market for Kilde debentures, so you can’t just sell anytime (though Kilde as a platform might sometimes facilitate matching an exiting investor with a new investor off-record). It’s wise to treat Kilde investments as illiquid for the full term despite the potential early withdrawals.
Regarding withdrawal mechanics, when an early redemption is executed, your principal (and any accrued interest) is paid back into your account (DBS trust) and then to your bank. If the investment goes to maturity, the principal is paid at maturity. Kilde’s platform updates your balance accordingly, and you could then reinvest or withdraw to your bank. The shortest tenure (3 months) is fairly short in investment terms – e.g. some Kilde notes might be bridging loans that repay after 3 months – so in those cases, liquidity is quick. But for the longer ones, assume up to 3 years lock-in with limited exit opportunities. Kilde requires a commitment; you trade liquidity for a higher yield. They mitigate this by offering some early withdrawal options and having relatively short maximum tenors (3 years is shorter than a 5-7 year private equity fund lock-in). The platform also suggests maintaining a diversified ladder of different maturities to have periodic cash flows and not tie up all your money in one long deal.
Endowus – Redemption Process: Endowus’s Income portfolios are built on open-ended funds, so they are highly liquid in comparison. There is no lock-up period – you are free to sell your investments whenever you choose. The process to redeem (withdraw) from Endowus involves instructing a redemption of your fund units, which Endowus handles through UOB Kay Hian. Typically, redemptions take about 3–5 business days to complete (trade date to settlement). After that, the cash appears in your Endowus cash account and can be transferred to your bank (which takes another 1–2 days for the bank transfer). You might expect roughly 1 week from selling to seeing the cash in your bank. This timeframe can be a bit longer if redemption falls near weekends/holidays or if dealing with certain funds with longer settlements (some specific funds might take slightly longer, though Endowus notes most are 3-4 days). Importantly, there are no specified intervals or penalties – you can redeem any day. Endowus does not charge any exit fee or transaction fee for redemption. The only “cost” of withdrawing could be if the market moved against you (capital loss) between your purchase and sale. Endowus even allows partial redemptions; you can withdraw a portion and leave the rest invested. No lock-ups is a big selling point Endowus advertises. This liquidity makes Endowus suitable if you need the flexibility to raise cash or reallocate quickly. You could invest, receive a couple of months of payouts, and if something happens (say you need money for an emergency or a better opportunity arises), you can exit relatively quickly. With Kilde, that wouldn’t be so straightforward if outside an exit window.
On the other hand, Endowus’s liquidity means you’re exposed to daily price risk – if you happen to need to withdraw during a market downturn, you might realise a loss. Being held to maturity, Kilde's investments don’t fluctuate in price, so if no default, you get full principal back regardless of interim market conditions. It’s a different paradigm: Endowus = liquidity with market volatility; Kilde = illiquidity but no mark-to-market volatility. One final note: income payout frequency differs slightly too – Kilde pays interest typically at the end of each month (cash comes into your account monthly), whereas Endowus payouts from funds might arrive on various dates within the month. Over a year, both deliver 12 months of income, but Endowus’s payout schedule can be staggered (fund A pays 15th, fund B on 25th, etc.). That’s a minor timing issue; practically, both provide monthly cash flow. To summarise, if you require high liquidity, Endowus has the advantage. If you can lock in funds for a higher yield, Kilde rewards you for that patience. Many investors use them complementarily: e.g., keeping some money in Endowus for flexibility while putting some in Kilde for higher fixed returns, which essentially barbells the liquidity.
Ideal Investor Profile
Who is Kilde best for? Kilde’s product is aimed squarely at Accredited Investors in Singapore seeking higher income yields and are comfortable with an alternative investment that is not immediately liquid. The ideal Kilde investor likely has a moderate to high net worth (meeting accredited investor criteria) and is looking to diversify their portfolio with private credit. If you have primarily stocks, bonds, and deposits, Kilde adds a new asset class that can deliver ~12% steady returns largely independent of stock market swings. Investors approaching retirement or semi-retirement might appreciate the fixed monthly payout to supplement income. Indeed, Kilde’s predictable coupons can function much like a high-yield “annuity” for income-focused accredited investors. It’s also suitable for experienced investors who understand credit risk and want to earn higher interest on a portion of their capital instead of the low single-digit yields from traditional bonds or savings. Those who are not afraid of illiquidity (i.e. can lock away money for 6–12+ months) and who prioritise capital preservation with higher returns are a good fit – Kilde emphasises that it “prioritises capital safety over speculative gains” by lending against diversified collateral, so it appeals to the risk-conscious yet yield-hungry investor. On the flip side, Kilde is not suitable for everyone: if you are not accredited (don’t meet the wealth/income criteria), you can’t invest. Also, Kilde wouldn't be ideal if you need the ability to pull out money at any moment or have only a small pool of savings (such that you cannot comfortably tie money up). The minimum suggested investment of ~$10k and the private nature mean it’s for people with a stable financial base. In short, Kilde’s typical investor is an accredited, financially savvy individual who desires high monthly income, values the security of collateral and MAS oversight, and can accept low liquidity and some credit risk in exchange for double-digit returns.
Who is Endowus best for? Endowus Income portfolios are designed for a broad range of investors (including retail) who want a hassle-free, moderate-risk income investment. The ideal Endowus investor could be a working professional or retiree with at least S$10k to invest and prefers not to manage a complex portfolio. If you want exposure to global markets with an income tilt – for example, to get a better yield than bank deposits but without going into very risky territory – Endowus is suitable. The Stable Income portfolio might attract conservative investors or retirees who primarily want capital preservation with stable monthly payouts (and are okay with ~4–5% returns), whereas the Higher Income portfolio might suit middle-aged investors who can take a bit more volatility for a higher ~6% payout (these could be folks in their 40s-50s looking to generate passive income for expenses). Because Endowus is fully liquid and has no lockup, it’s also good for people who may need to access funds, for example, someone saving for a near-term goal but wanting better returns than a pure savings account might use Endowus (with the understanding that value can fluctuate). Investors new to investing or those not qualifying as accredited can use Endowus as a relatively safe entry into managed investing – the platform provides advice. It has an easy interface, so you don’t need to pick stocks or time the market. It’s for anyone who likes the idea of a “monthly paycheck” from investments but doesn’t demand an extremely high yield and wants the comfort of withdrawing anytime. Another potential profile is the CPF or SRS investor – Endowus uniquely allows using CPF Ordinary Account or SRS funds to invest in certain portfolios (though the Income portfolio with monthly cash payouts might be cash-only; CPF investors often choose accumulation portfolios due to CPF rules). In any case, Endowus, being MAS-licensed and partnered with UOBKayHian, will appeal to those who trust regulated financial institutions and prefer an online advisory platform rather than DIY. Endowus could fit those with lower risk tolerance than what Kilde requires. Suppose you cannot stomach the idea of potential default (even if the probability is low) or the higher risk of a concentrated private loan. In that case, you might lean toward Endowus’s broadly diversified approach. Summarising, Endowus is ideal for non-accredited or accredited investors alike who want a moderate, stable income (up to ~6%), high liquidity, and a hands-off investing experience, and who are comfortable with some market fluctuation in exchange for convenience and lower risk than private credit. It’s less suitable if you insist on very high returns (then the 6% cap might disappoint) or want total control over fund selection (though you could use Endowus Fund Smart to pick funds yourself).
There’s no rule that one must choose strictly one platform; indeed, many Accredited Investors in Singapore use both – for instance, keeping their core/liquid assets with Endowus or other diversified funds, and allocating a portion to Kilde for enhanced yield on the side. The two can complement each other in a portfolio: Kilde provides alpha in fixed income (excess return), and Endowus provides beta and liquidity. Ultimately, your circumstances (liquidity needs, accreditation status, return target, and risk appetite) will determine more appropriate.
Why Singapore Accredited Investors Choose Kilde
Higher Returns & Monthly Income: Accredited investors often choose Kilde for its market-beating yields – a chance to earn 11–15% p.a. in steady, monthly income payouts, far above the 3–6% offered by traditional income funds. This high passive income can significantly boost cash flow for those looking to preserve capital while living off interest.
Asset-Backed Security: Kilde’s investments are senior-secured and collateralised, giving peace of mind that real assets back investments. With an average 160% collateral coverage and a 0% default track record so far, investors gain confidence that their capital is well-protected even while earning high returns. This capital preservation focus—“loans… backed by cash-generating receivables, ensuring strong collateral protection”—appeals to savvy investors prioritising risk management.
Regulated & Trusted Platform: Kilde operates under an MAS licence (CMS101016) and adheres to strict regulatory standards. Client funds are held securely in DBS Bank, and the company is audited and compliant—a level of professionalism often lacking in higher-yield “alternative” investments. Knowing that Kilde is MAS-regulated and externally custodied gives investors the trust to commit larger sums, making it a go-to for accredited individuals seeking MAS-licensed alternative investments in fixed income.
Low Fees, No Hidden Costs: With a simple 0.5% annual fee and no sales charges, Kilde ensures that more returns flow to the investor. Investors appreciate that the double-digit yields quoted are net of fees and that no performance fees eat into gains. This transparent, low-cost structure aligns with investor success (Kilde only earns its small fee as the investor earns interest) and compares favourably to traditional private funds.
Short Commitment & Flexibility: Unlike private equity or property investments that lock money for 5–10 years, Kilde’s deals are short-term (3–36 months). Accredited investors value this flexibility—they can commit to a 6—or 12-month deal and see results quickly, and many deals offer early exit options if needed. This makes Kilde’s private credit a more agile allocation in an investor’s portfolio.
Finally, Kilde’s platform convenience (fully digital onboarding in minutes, SingPass integration, and an intuitive dashboard to track monthly coupons) and expert support add to the appeal. It enables busy high-net-worth individuals to deploy cash into a high-yield, low-volatility asset class without fuss. With accredited investors in Singapore increasingly seeking yield and diversification, it’s clear why many are turning to Kilde as a preferred source of stable monthly income in their portfolios. Start your journey via our How Kilde Works page to learn more, or sign up to see live deals and begin earning passive income.Investors who have made the switch cite the “best of both worlds” – bank-like safety with bond-beating returns – as the reason why Kilde is a standout choice for alternative income.
