This is a general notice. The products and services mentioned here may not be available in your area.

Dear Binance Community,

Binance Loans is excited to introduce Fixed Rate Loans, providing users with the option to borrow and lend stablecoins at predictable interest rates. This innovative service offers fixed-term loans with a customizable APR that stays fixed for the entire duration of the user’s order, ensuring a smooth and simple financial experience for both lenders and borrowers.

How Fixed Rate Loans Work on Binance:

To borrow on Fixed Rate Loans:

1. Place an order: Click [Place an order] - [I want to borrow] to place an order to set up the borrowing information or click [Borrow] next to your desired order in the "Borrow Market" section.

2. Set up collateral: Select eligible assets from your Spot Wallet as collateral to meet the initial LTV (Loan-to-Value Ratio) requirement.

3. Confirm Order: Review and confirm the order details and Terms and Conditions, then click [Confirm].

4. Order Filled: Once the order is filled, the borrowed amount minus the pre-calculated interest will be transferred to your Spot Wallet. Check the order status in [My Orders] - [Orders in Progress].

5. Repayment: Repay the entire loan by the due date to avoid Late Fees.

To lend on a Fixed Rate Loan:

1. Place an order: Click [Place an order] - [I want to mortgage] to place an order to set up loan information or click [Lend] next to your desired order in the "Mortgage Market" section.

2. Confirm Order: Review and confirm the order details and Terms and Conditions, then click [Confirm].

3. Order Filled: Once the order is filled, the amount you lent will be transferred from your Spot Wallet and your principal will be protected by Binance for the duration of the order. The interest will start accruing once filled. Check the order status in [My Orders] - [Orders in Progress].

4. Repayment: Once the loan matures, the assets you lent and the Repaid Interest will be transferred to your Spot Wallet within 24 hours after the maturity date. Check your assets in your Spot Wallet.

Start Using Fixed Rate Loans on Binance Today!

Binance Loans Products:

For more information, please refer to Fixed Rate Loan FAQ, Flexible Loan FAQ and VIP Loan FAQ.

About Binance Fixed Rate Loans:

Binance Fixed Rate Loan aims to build a stable and user-friendly financial environment by allowing them to customize their interest rates, providing predictable costs/returns for users, especially for stablecoins. The platform effectively matches the needs of lenders and borrowers. Fixed rate loans are overcollateralized, supporting multi-asset collateral to reduce liquidation risk. The product also adopts an efficient automated process with auto-repayment and auto-renewal options. Managed by Binance, ensuring a smooth and simple experience for all users.

Note:

• Please refer to Binance Fixed Rate Loan Terms and Conditions before placing any orders on the Binance Fixed Rate Loan platform.

• For Borrowers:

  • After placing a Borrow Order, the Borrower's collateral will be frozen in their Spot Wallet and cannot be transferred or traded. If the Borrower wishes to unfreeze the order, they must cancel the order in its unfilled state. Once the order is filled, their collateral will be automatically transferred out of the Spot Wallet and held by Binance until the loan is fully repaid.

  • Lending Interest is pre-calculated at the time of transfer of the loaned assets. The actual amount received by the Borrower is the borrowed amount minus the pre-calculated Lending Interest. If the Borrower prepays the loan or Binance liquidates the loan before the end of the loan term, the Lending Interest payable on the loan will not change and will not be refunded to the Borrower.

  • It is the borrower's responsibility to monitor and adjust the LTV (Loan to Value Ratio). If the borrower's order reaches the liquidation LTV, the system will immediately initiate a forced liquidation. The system will charge a liquidation fee of 2% of the loan amount.

  • Please repay on time. Late fees of 3 times the Loan Interest will be automatically accrued hourly when the Borrower fails to repay the loan on the agreed loan due date.

• For Lenders:

  • After placing a Loan Order, the Lender's corresponding loan assets will be frozen in their Spot Wallet, they will not be able to transfer or trade these assets. If the Lender wants to unfreeze, they must cancel the order in the unfilled state.

  • Once the order is matched, the Lender's lent assets will be transferred from their Spot Wallet and will be protected by Binance for the duration of the order. Lenders cannot withdraw the lent assets before the maturity date or request early repayment.

  • Interest will not accrue before the order is filled. The accrued interest will be distributed upon return of the assets you lent within 24 hours of the Maturity Date.

• Users can view their orders by going to Fixed Rate Loan Orders > Orders in Progress.

• The translation of the article and the original English version may have differences. Please refer to the original for the latest or most accurate information if there are any differences.

Thanks for your support!

Binance Team

05/09/2024