FarmOn and Why You Should Start Investing Through It
Disclaimer: I am not paid to blog about this. I am just a registered FarmOn-er who's been reaping the benefits of investing with them. So I would want to share this to friends and readers as much as I can cos I believe this is for a good cause, a win-win situation. You can earn while you are helping our farmers out.
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Photo from www.FarmOn.ph
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What is FarmOn?
"FarmOn.ph is a crowdfunding community where people can help farmers on their financial needs and at the same time reap rewards for their contributions. FarmOn.ph was developed by Sproads, a web publishing company based in Manila."This is the old "patanim, pa-ani" method where you fund the farmers' seedlings so they can grow the crops, sell them, and return your fund plus interest.
You can read more about FarmOn here.
Why FarmOn and Not Mutual Funds or the Stock Market?
It won't hurt if you do those two plus FarmOn. As long as you have the funds to invest, why not right? Diversification of assets is still the best solution to minimise risks. But in my case, I've tried investing in mutual funds, bonds, and the stock market and I just think...
My mutual funds had a verrrrry slow return. I've already been investing for two years and still nada! I got tired already. The stock market, on the other hand, is too volatile, risky, and complicated for my liking. Sure, I got a lot of friends who are into it - day trading and all that jazz. And it works for them, earning thousands and investing again the next day. It just isn't for me. I don't have time to read and log in everyday before the market opens and check again when the market closes. I just don't.
So yes, FarmOn is my next best bet. I just purchase crops and livestock now, then check it back after 3 months or more (depending on the length specified for each crop or stock), and wait for the farmers to sell my harvests on my behalf before they put the earnings back to my account. So millennial ano? But it's good since you are funding them and helping out! Better than not doing anything at all. And your money grows on a faster rate than what saving through a bank could offer.
Pics or It Didn't Happen!
Here you go! Look at those profit rates!
Nice! But I Got Questions...
I reminded my FarmOn-er friends today about the opening of the 13th cycle and some other friends got interested to register. Here are your most common questions, answered!
1. What are the minimum and maximum investments?
1500php min and 300,000php max.
2. How do you know which crop or livestock to buy?
I do a quick research and then select from what's still available in the crops list. For example the next cycle will fall on a typhoon-season, you then search for crops that can withstand or can tolerate flooding more. The same goes for summer or the season for drought.
This open cycle though I was only able to choose red chilli and green pepper cause the available crops are already limited and selling out quick.
Edit: As of 15th cycle, the referral system has been abolished. You may now register without a referrer. See screenshot below. And follow FarmOn's official Facebook page (FarmOn Agri-Community Corp.) as well for future announcements.
4. What happens when your crops got destroyed by typhoon or drought?
They'll replace it, for free! No extra costs on you. Downside though is it will lengthen your supposed investment cycle. It's ok, shit happens. Remember: you are helping the farmers.
5. What happens when the crops and livestock are ready for harvest?
They will harvest it for you AND sell them for you in the market. Or you have the option to get them from their farm and sell them by yourself. That is, if you have the truck and time to get them. The farms are located in Isabela and if you funded pigs and cows, good luck taking them to Manila. Hehe.
6. How can you get your earnings?
Through bank deposit. They will deposit your earnings directly to the bank account you specified. Just check with them if there are specific banks they only allow and the transaction fees.
I've never withdrawn my earnings though. I just re-invest and add more funds so I can invest on more crops and livestock.
7. How to start?
Go to their website (www.farmon.ph) and look for the JOIN NOW button. Just follow the instructions, you'll get a notification on your email after several days (say 3 to 5) with your new account information.
That's it. Thanks for reading and I really hope you invest and help our farmers out. The Philippines is still primarily an agricultural country. 🌿
37 comments
What is the maximum investment allowed?
ReplyDelete300,000 :)
DeleteIs this per cycle? Or can I invest another 300,000 for a new cycle even if I haven't received profit from the previous cycle?
DeleteWhat is the purpose of referrer? Is there a referral fee for this? I can't seem to find some threads about the referral process. What will happen if I want to register but I don't have a referrer? Do referrer have extra benefits? Hope you can answer this. And also when will be the next registration be open? :) I want to register naaaa! :D thanks in advance!!!! :)
ReplyDeleteHi! Referrers get 1% of the referral's net profit. In my case, I got 15 pesos when my friend's crops have been harvested and sold during the 8th cycle. She received 1500php profit.
DeleteIf you are really interested to join, email me at allenatzeng[at]gmail so I can send you details about registration. I'll refer you na lang.
last time nakapag invest ako ng 400K. ang profit ay 104K.
ReplyDeletewow good for you! congrats!
DeleteHi Ma'am. Kelan po mag open next cycle? Need po ba ng referral bago makapg join? Thanks
ReplyDeleteHi! Good news! Interested investors dont need referrers anymore. See post again above for the updates. :)
DeleteHi, Ma'am need na talaga ng referrer pag mag reregister? Legit po ba? nalilito kasi ako sa advisory ng SEC regarding sa 2nd license nila and nka state na hindi sila qualified for investment or mag solicit since hindi sila isang investment company?
ReplyDeleteCan you please enlighten me regarding this matter since gusto ko talaga mag invest. Thanks and more power on your blog.
Hi! Good news! Interested investors dont need referrers anymore. See post again above for the updates. :)
DeleteHi Ms. Daria,
ReplyDeleteNag email po ako sa inyo. Sana mag reply po kayo. Thanks and God bless.
Hi! Good news! Interested investors dont need referrers anymore. See post again above for the updates. :)
DeleteHi Ms. Kriezel. I saw it in the internet and upon doing some research I find it interesting to invest in FarmOn. Yesterday, when I am about to invest, I find it difficult to access their website I also tried calling their numbers but it is always out of coverage area. What other methods can I try so I can invest at FarmOn? Thanks
ReplyDeleteHi there! Just keep calling them. Yesterday was a national holiday and their offices take holidays off too.
DeleteLets say i will invest for rice 7500 for 500sqm how much will the propit for that? Magkano po kikitain ko doon salamat po
ReplyDeleteIf what the other investors say is true, you would probably get a profit of 3750php more or less. Sabi kasi nila 150% daw ang Return of Investment (ROI). But I haven't had previous investment record for rice kaya di ko maconfirm. We'll find out pag bumalik naani na ang palay ko. :)
DeleteHi Ma'am Kriezel! How was your investment sa palay po? I just recently invested for hybrid rice sa farmon. :D
DeleteHi! Wala pa rin eh. October last year lang kasi ako nag-invest sa rice. Screenshot: http://prntscr.com/i6zp17
Delete6-8 months are palay.
Hi Ma'am Kriezel! This is a different user po pero interested sa farmon.ph
Deletemay update na po ba kayo sa ROI ng rice?
Hello! Meron na reflected ROI ang rice (inbred) ko. 11.2% :( Medyo maliit. Pero ang ROI lang pala ng rice ay 11-18% pag Inbred, at 15-18% pag Hybrid.
Deletehi there.. i would like to ask, if my choose kana na i fund, panu ka makapag bigay ng pera? it is auto debit ba sa account mo? need to deposit it to their account? how they could verify confirm na nag deposit kana?
ReplyDelete1. Select crops to invest.
Delete2. Wait for your contract on your FarmOn website inbox.
3. Deposit exact payment at BDO. Keep the deposit slip.
4. Print the contract and sign.
5. Reply to the inbox message the scanned signed contract and deposit slip.
6. Wait for the confirmation from FarmOn.
7. Wait for harvest.
That's it.
Hi question, pano malalaman kung kelan ung next cycle? kapag ba nagopen na ung new cycle tsaka ka lang pede magplace ng investment? or anytime kahit mid of the cycle pede ka pa rin magdeposit for investment?
ReplyDeleteKelangan mo sundan 'yung Facebook page ng FarmOn (FarmOn Agri-Community Corp.) kasi nilalagay nila dun ang schedule. Hindi ka makakabili ng crops kapag sarado ang registration cycle. Hindi rin pwede basta basta magbayad. Kelangan ng kontrata at nakalagay dun ilang days ka lang pwede magbayad after mo mareceive ang kontrata.
DeleteTanong lang po. Pano mag deposit ng pera para maka invest sa farm on. TIA!
ReplyDeleteCash deposit sa BDO. Pwede rin yung online transfer sa BDO app kung meron ka. Basta send deposit slip or screenshot sa FarmOn after payment.
DeleteHi bes, nagregister na ako sa FarmOn.ph. Pero bakit ganun wala man lang nagkoconfirm ng contract na sinend back ko sa kanila. Nagsend na rin ako ng bank slip ko. Usually, gaano ba katagal ka nila sasabihan na nareceive na nila yung contract and okay na yung investment mo? Salamat, tia!
ReplyDeleteMadalas one week, pero may instance na umaabot ng halos o lagpas two weeks. (Sample: https://prnt.sc/i6pfse) Patience lang, may mageemail yan. Medyo matagal lang kasi kulang sila sa tao.
DeleteHi, thanks to your very informative article. Just wanna ask kung this has to be declared on my ITR. lol. Or all taxes has been deducted once you receive the payments. Thanks.
ReplyDeleteHi! Naku wala rin akong idea pa. I never declared my investment returns sa ITR ko. Tanong ko sa accountant friend ko. Balikan ko 'tong comment mo. :)
DeleteHi kriezel. Sorry nabasa ko kasi na 11% ang profit mo sa inbred rice for 1 plot magkano halos yun? Di kasi ako magaling sa math hahahaha. Nag invest din kasi ako 1st timer nag aantay pa ako ng contract nasaraduhan ako ng ibang products banana at rice nalang ang natira. Grabe itoh unahan.
ReplyDelete7500 yung capital. 8362.5 yung bumalik. so Php862.50 yung profit.
DeleteHi Kriezel Daria
ReplyDeleteThank you sa information. Very helpful
Hi, are you still investing at FarmOn? I think they revamped their website. I can no longer see approx profit returns, etc. Would you know how much is the estimats profits for the crops? Also, were you able to withdraw funds recently? Kamusta ang experience if ever?
ReplyDeleteYes, still investing :) I actually just signed the contract for the new cycle. I don't think they ever posted the profit returns. Did they? Anyway, if you want, you can always ask them for the particular products you're interested in. I asked them for an estimate for rice in the past, and they answered me naman.
DeleteAs for withdrawal, yes I was able to withdraw last year, through wire transfer nga lang and not BDO. Once pa lang ako nakawithdraw cause I just reinvest my earnings.
Overall experience so far, ok naman. May konting mga tanong lang ako about transparency and stuff kasi wala akong makitang financial reports, pero naisip ko, kesa naman nasa bangko lang ang pera, ok na rin siguro dito sa FarmOn.
Hi, i hope active pa tong blog na to.
ReplyDeletei registered at farm on today.
at meron kasama pagcheckout option kung magbabayad ng notary sa contract or hindi. ask ko lang, required ba ang notary? pwede ba kahit i-tick off ko na yun? para bawas na sa babayaran?
Leave a comment, bes. ♥