What are Flexible Deposits Lending Products?
Lending is a financial product that Binance provides for his users to lend and earn interests. Users can lend his/her idle crypto assets to Binance Margin, and get interests.
Flexible Deposits is your Crypto savings account. Subscribe your crypto to earn interest, with the flexibility to redeem your funds at any time.
What are the terms of Flexible deposits products?
Average annual return: The average annual return (APR) uses the average daily interest rate from the past 7 days, multiplied by 365. It is a reference to the daily interest you are entitled to, but not exactly the same as the actual interests.
Interest per thousand: The daily interest of per thousand crypto assets based on the latest daily interest rate.
Daily individual max: The maximum amount that an individual can subscribe in one day. The number may vary from day to day, and is refreshed at 00:00 (UTC+0). If you subscribe to the maximum amount today, you can still subscribe on the next day.
Subscribed today: The total amount of the product that has been subscribed.
Daily quota: The maximum amount subscribable today.
About daily individual max
Binance Lending will adjust the daily maximum amount an individual is allowed to subscribe or redeem, and also the total amount of each product.
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The interests of Binance Lending comes from the income of Margin. Binance will calculate and distribute the income according to the platform’s rules.
Binance lending calculates and distributes the interests of flexible deposits products hat accrued the previous day to your exchange wallet.
Total interest daily = the distributable income/ total subscribed today
Minimum accountable interests
Interest earned is distributed daily. The amount is based on the number of redeemable tokens. The interest amount is rounded down and goes to 8 decimal places.
The subscription of flexible deposits products
Flexible deposit products are closed for subscription during 23:50-00:10 (UTC). On the date of your subscription, the flexible deposit products you get are locked. Locked products do not accrue interests and can not be redeemed. They will be unlocked the next day. And the interests will be distributed on the next day of unlocking.
The redemption of flexible deposits products
Flexible deposits are closed for redemption during 23:50-00:10 (UTC).
After the initial first day period that your funds are locked, you may redeem your funds at any time using either the standard redemption or fast redemption methods.
- Using the standard redemption method, you can redeem your funds the next day and still accrue interest for the period in between.
- Using the fast redemption method, you may redeem your funds the same day. But you are not entitled to the interest accrued today.
Total interest earned and today’s interest earned
The total interest earned on the Assets page is the cumulative interest you have earned by lending.
Today’s interest earned is the interest you receive today.