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How to Use Binance Loans

Binance
2020-06-17 05:35
Video tutorial

How to borrow?

1. Click [Finance] - [Crypto Loans]. To start borrowing:
  • Select the asset you want to borrow and enter the borrowing amount.
  • Choose the collateral asset and enter the collateral amount.
  • Choose a loan term.
  • After confirming the borrowable amount, collateral, interest, repayment, and more, click [Start Borrowing Now].
2. Confirm all the information on the Order Confirmation pop-up. Read carefully and agree to the Binance Loans Service Agreement and click [Confirm].

How to adjust Loan-To-Value (LTV)?

1. Click [Ongoing Orders] - [Adjust LTV].
2. You can move the LTV bar to adjust LTV, or manually add/remove the collateral amount to do so.
3. Click [Add Collateral] or [Remove Collateral] to confirm the LTV adjustment.

How to repay?

1. Click [Ongoing Orders] - [Repay].
2. You can enter [Repayment Amount] directly or select a repayment ratio.
3. Review the details and click [Confirm repayment].
4. You will see a confirmation message after the repayment has been successfully processed.

How to repay with collateral

1. Click [Repay] on the Loan Orders page.

2. Enter the repayment amount, and choose [Repay With Collateral]. Check the “interest repaid”, “principal repaid”, “total repayment”, “LTV after repayment” and “returned collateral amount”. Click [Confirm repayment].

How to renew loan orders?

Users can renew loan orders within 24 hours before the loan order expires. Before renewing the loan order, interest must be paid on the original order before renewing it.
1. On the [Ongoing Orders] page, select the order that needs to be renewed, and then click [Renew].
2. Check and confirm all the terms and conditions, then click [Pay & Renew] to renew the loan order.

How to check my loan orders and history?

1. Click [Orders] - [Loan History].
2. You can click to open the [Loan History] tab to check your:
  • Loan Orders
  • Repayment History
  • LTV Adjustment History
  • Liquidation History
  • Loan History

Liquidation fee

If liquidation happens, you will be charged a 2% liquidation fee from the total borrowed amount.
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