📢 #BinanceLoans is excited to introduce Fixed Rate Loans, providing users with more options for #stablecoin borrowing and lending with predictable rates.This innovative service offers a fixed-term loan with a custom #APRfixed for their entire order period, ensuring a smooth and straightforward financial experience for both suppliers and borrowers.

How Binance Fixed Rate Loans Work:

◾To Borrow on Fixed Rate Loans:

⭕Place an Order: Click [Place an order] - [I want to Borrow] to place an order to set up borrow information or click [Borrow] next to your preferred order under “Borrow Market”.

⭕Set up Collateral: Select eligible assets from your Spot Wallet as collateral to meet the Initial LTV (Loan-to-Value) requirement. 

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

⭕Order Matched: After the order has been matched, your borrowed funds minus the pre-calculated interests will be transferred to your Spot Wallet. Check the order status in [My Order] - [Ongoing Order].

⭕Repayment: Repay the loan in full before the expiry date to avoid the Late Fee.

◾To Supply on Fixed Rate Loans:

⭕Place an Order: Click [Place an order] - [I want to Supply] to place an order to set up supply information or click [Supply] next to your preferred order under Supply Market.

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

⭕Order Matched: After the order has been matched, your supplied funds will be transferred from your Spot Wallet and will be principally protected by #Binance for the duration of the order. Return Interest starts accruing on matching. Check the order status in [My Order] - [Ongoing Order].

⭕Repayment: After the loan expires, your loaned assets and Return Interest will be delivered to your Spot Wallet within 24 hours following the expiry date. Check your assets in your #Spotwallet .

Get Started With Binance Fixed Rate Loans Today

(via: Binance Announcement )