This is a general announcement. Products and services referred to here may not be available in your region.
Fellow Binancians,
To optimize user experiences, Binance Loans (Flexible Rate) now allows users to repay Loan orders with collateral assets. Users can choose to repay Binance Loans (Flexible Rate) orders with either the borrowed tokens or the collateral assets.
Liquidation fee does not apply when users choose to repay loans with collateral assets from the user interface. The collateral repayment amount will be based on the exchange rate at the time of repayment.
Please Note:
Users may access the upgraded repayment function via the Binance Loans website or the Binance App only after they upgrade the App to iOS v2.93 or Android v2.93, or later. Older app versions don't support this function.
Binance Loans will support Flexible Loan repayment with collateral assets via SAPI after 2024-12-20 08:00 (UTC). For more information, please refer to the API Change Log, as well as the full API documentation about Binance Loans (Flexible Rate).
Liquidation fee does not apply when users choose to repay loans with collateral assets from the user interface. However, if a user is unable to repay from their user interface and requests Binance to proceed with liquidation, a 2% liquidation fee will apply.
Users may refer to Loan Data for the latest interest rates and a complete list of loanable and collateral assets.
This upgrade does not apply to VIP Loan orders.
There may be discrepancies between this original content in English and any translated versions. Please refer to the original English version for the most accurate information, in case any discrepancies arise.
Binance Loans (Flexible Rate) is an open-term loan product that allows users to complete loan orders while collateralizing cryptocurrencies in existing Simple Earn Flexible Product subscriptions. Users may enjoy greater flexibility without committing to a specific loan term when borrowing cryptocurrencies on Binance Loans (Flexible Rate), and earn Real-Time APR rewards via Simple Earn Flexible Products at the same time. Loan rates are refreshed every minute, and users may place a loan order with a minimum of 1 USDT equivalent.
For More Information:
Thank you for your support!
Binance Team
2024-12-10
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Binance reserves the right in its sole discretion to amend or cancel this announcement at any time and for any reasons without prior notice.
Disclaimer: Digital asset prices can be volatile. The value of your investment may go down or up and you may not get back the amount invested. You are solely responsible for your investment decisions and Binance is not liable for any losses you may incur. APR is an estimate of rewards you will earn in cryptocurrency over the selected timeframe. It does not display the actual or predicted returns/yield in any fiat currency. APR is adjusted daily and the estimated rewards may differ from the actual rewards generated. Not financial advice. For more information, see our Terms of Use and Risk Warning.
