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How to Repay a Loan

2020-02-05 02:57
Binance’s loans service can satisfy your funding requirements. By taking out a loan, you are required to pledge the corresponding cryptocurrencies as collateral. These loans support the borrowing of a number of different cryptos, including BTC, ETH, BNB, USDT, and BUSD. For more information, please refer to Binance Loans.
You can repay in advance without having to pay a commission fee. When the principal is returned, interest is charged according to the actual number of days borrowed.
Currently, there are two ways to repay a Binance Loan:
  1. Regular USDT repayment (please refer to the step-to-step guide below)
  2. Repay with Collateral

How to repay Binance Loan?

1. Go to [Wallet] - [Futures] after logging into your Binance account.
2. Scroll down and click [Collaterals].
3. Click [Repay] next to the collateral you want to repay.
4. Enter or select the amount you would like to repay. Click [Confirm repayment].
5. You have successfully repaid the loan.

How to remove collateral after repayment?

In case you returned a loan in advance but the system did not automatically refund the corresponding collateral deposit, please remove the collateral deposit manually as follows.
1. Click [Adjust LTV] next to the collateral you want to remove.
2. Select [Remove] and enter the collateral amount to be removed. Click [Remove collateral] to confirm.