Early repayment does not always put time back
A Locked product should not be judged only by its completion date. You need to read the early repayment scenario too.
In the rules of certain Binance Simple Earn Locked offers, it states that in the event of early redemption, the already distributed reward may be deducted from the returned amount, and the assets may take up to 72 hours to be credited. The exact terms must be checked on the specific product page.
Before locking, I would answer three questions:
• whether early redemption is available;
• what will happen to the reward already received;
• how long the return of assets might take.
A high APR does not offset the problem if the funds are needed earlier than planned.
Choose the term not by the maximum rate, but by your actual liquidity needs.
#BinanceEarn
A Locked product should not be judged only by its completion date. You need to read the early repayment scenario too.
In the rules of certain Binance Simple Earn Locked offers, it states that in the event of early redemption, the already distributed reward may be deducted from the returned amount, and the assets may take up to 72 hours to be credited. The exact terms must be checked on the specific product page.
Before locking, I would answer three questions:
• whether early redemption is available;
• what will happen to the reward already received;
• how long the return of assets might take.
A high APR does not offset the problem if the funds are needed earlier than planned.
Choose the term not by the maximum rate, but by your actual liquidity needs.
#BinanceEarn