Exchange
Blockchain and crypto asset exchange
Academy
Blockchain and crypto education
Broker
Trading terminal solutions
Charity
Blockchain charity foundation
Cloud
Enterprise exchange solutions
DEX
Fast and secure decentralized digital asset exchange
Labs
Incubator for top blockchain projects
Launchpad
Token Launch Platform
Research
Institutional-grade analysis and reports
Trust Wallet
Binance's official crypto wallet
Buy Crypto
Markets
App StoreGoogle PlayAndroid
Scan to Download
Desktop
English/USD
Support Center
FAQ
Crypto Derivatives
Futures Contracts
Cross Collateral
Interest Charge and Interest-Free Period
Binance
2020-09-16 03:45
Note:
• This interest charge is only subject to those who borrowed after 00:00:00 AM UTC on September 21st, 2020. No interest will be charged on existing borrowings before the date;
• If a user fails to repay within the 14 days of interest-free period, daily interest will be charged. Users can borrow indefinitely as long as interest can be paid.
• Users will enjoy different borrowing limits and daily interest rates at different VIP levels, Please refer to Cross Collateral Interest Rate for more details.
Interest-free period
Each order of cross collateral loan will enjoy a 14-day interest-free period, starting from the day of borrowing, i.e. the first 14 UTC+0 natural days of the borrowing are interest-free (including the day of borrowing).
Interest Charge
After the interest-free period, a daily interest rate will be charged at 0.0216%, and the interest is calculated once a day at 00:00 UTC+0.
The system will update the accumulated interest of each order according to the formula (remaining loan amount* the latest interest rate), and refresh the LTV at the same time.
The calculation method is: Borrowing time dd+N 00:00 UTC+0.
Example 1: User borrowing time = 2020-07-01 00:00:00 UTC, interest-free period = 14 days, will start to record user’s interest at 2020-07-15 00:00:00 UTC.
Example 2: User borrowing time = 2020-07-01 07:02:55 UTC, interest-free period = 14 days, will start to record user’s interest at 2020-07-15 00:00:00 UTC.
Example 3: User borrowing time=2020-07-01 07:02:55 UTC, Principal=500USDT, interest-free period=14 days. The user repays 200USDT on 2020-07-14 23:00:00 UTC, will start to record user’s interest based on 300USDT at 2020-07-15 00:00:00 UTC.

Interest history

You can view the details on the Transaction history, Interest history page. This page updates at 00:00 UTC+0 every day according to the amount of your loan amount.
How to repay interests
When you make a repayment, interest will always be repaid before any principal, according to the order time it is generated i.e. the first order is paid first; once all interests have been repaid in full, you will then start repaying principal, the LTV will be refreshed at completion.
For details about how to replay a loan and ways to repay, please view below help pages:
  1. How to Repay a Loan
  2. Repay with Collateral
You can also view historical details on the repayment history interface:

Have more questions?submit a request
Related Articles
How to Borrow Funds Using Cross Collateral