There are two ways to repay debts: manually or automatically. This article will show you how to repay your debts on Binance manually. If you want to automate your debt repayment, please click here to learn how to use Auto-Repay.
1. Log in to your Binance account, click [Wallet], and select [Margin] from the drop-down menu.
2. Select the coin you want to repay, click [Borrow/Repay], or select [Repay] at the top of the dashboard.
3. Enter the amount directly, or click on the percentages you wish to repay. Regardless of the repayment amount, any repayment will be applied to the outstanding interest first before being used to reduce the outstanding principal. For further information on the interest rates for each asset, please click here.
- Your repayment needs to be the same cryptocurrency as the one you borrowed. For example, if you borrowed ETH, your account must have ETH when you repay.
- If you want to use other cryptocurrencies for repayment, you may use the Auto-Repay function. See the detailed guide on how to use the Auto-Repay function here.
- You can repay your debt over separate repayments. However, every time you make a repayment, you must repay the interest first.
1. Go to [Wallets] - [Margin] and select [Repay].
2. You can enter the amount directly or click on the percentage you wish to repay.
- Repayment needs to be in the same cryptocurrency as the one you borrowed. For example, if you borrowed BTC, your account must have BTC when you repay.
- If you want to use another crypto for repayment, you may use the Auto-Repay function. See the detailed guide on how to use the Auto-Repay function here.
- You can repay your debt in separate repayments. However, any repayment will be first applied to the outstanding interest before reducing the outstanding principal.