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

Caros Binancers,

Binance Loans is excited to introduce Fixed Rate Loans, providing users with more options for borrowing stablecoins with predictable rates. This innovative service offers a fixed-term loan with a fixed personalized APR for the entire term of your order, ensuring a smooth and straightforward financial experience for both providers and borrowers.

How Binance Fixed Rate Loans Work:

To get a Fixed Rate Loan:

1. Create an order: Click [Create an order] - [I want to apply for a loan] to create an order to set up the loan information, or click [Loan] next to your preferred order in "Loan Market".

2. Configure 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, click [Confirm].

4. Order Matched: After the order is matched, your borrowed funds minus the pre-calculated interest will be transferred to your Spot Wallet. Check the order status in [My Orders] - [Orders in Progress].

5. Payment: Pay the loan in full before the due date to avoid late fees.

For provision of Fixed Rate Loans:

1. Create an order: Click [Create an order] - [I want to offer a loan] to create an order to set up the supply information, or click [Supply] next to the preferred order in Supply Market.

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

3. Order Matched: After the order is matched, your provided funds will be transferred from your Spot Wallet and the principal amount will be protected by Binance during the order period. Return Interest starts accruing after the order is matched. Check the order status in [My Orders] - [Ongoing Orders].

4. Payout: After the loan expires, your borrowed assets and interest return will be delivered to your Spot Wallet within 24 hours after the due date. Check your assets in your Spot Wallet.

Get started with Binance Fixed Rate Lending today!

Binance Loans Products:

For more information, see the Fixed Rate Loans, Flexible Loans and VIP Loans FAQs.

About Binance Fixed Rate Loans:

Binance Fixed Rate Lending aims to build a stable and easy-to-use financial environment. This feature allows users to customize their interest rate and offers predictable costs/returns for users, specifically for stablecoins. The platform effectively matches the needs of both providers and borrowers. Fixed Rate Lending is overcollateralized, supporting multi-asset collateralization to reduce liquidation risk. It also features an efficient automated process with auto-payout and auto-renewal options. Managed by Binance, it ensures a smooth and straightforward experience for all users.

Notes:

• Please refer to the Binance Fixed Rate Lending Terms and Conditions before placing any order on the lending platform.

• For the borrower:

  • Once the borrowing order is placed, the borrower’s collateral assets will be frozen in their Spot Wallet and cannot be transferred or traded. If the borrower wants to release them, they must cancel the unmatched order. Once the order is matched, their collateral assets will be automatically transferred out of their Spot Wallet and held by Binance until the loan is repaid in full.

  • Loan interest is charged in advance at the time of transfer of loan assets. The actual amount the borrower receives is the amount borrowed minus the pre-calculated loan interest. If the borrower pays off the loan early or the loan is paid off before the loan term expires, the amount of loan interest payable will remain unchanged and will not be refunded to the borrower.

  • Borrowers are responsible for monitoring and adjusting the LTV (loan-to-value ratio). If the borrower's order reaches the Liquidation LTV, the system will immediately execute forced liquidation. A liquidation fee of 2% of the loaned amount will be charged.

  • Please make the payment on time. The late fee, which is 3 times the loan interest rate, will be automatically accrued hourly when the borrower fails to repay the loan on the agreed loan due date.

• For the supplier:

  • Once the supply order is created, the supplier's matching assets will be frozen in their Spot wallet, and cannot be transferred or traded. If the supplier wants to release them, they must cancel the unmatched order.

  • Once the order is matched, the loan supply assets will be transferred from the supplier’s Spot wallet and the principal amount will be protected by Binance for the duration of the order. The supplier will not be able to redeem the borrowed assets before the maturity date or request early repayment.

  • No interest will accrue until the order is matched. The accrued interest return will be distributed along with the return of the provided assets within 24 hours after the due date.

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

• There may be discrepancies in the translated version of this original English article. Please refer to the original version for the most recent or accurate information where discrepancies may arise.

Thank you for your support!

Binance Team

05/09/2024