Binance Will Launch Lending Products Second Phase – Interest Rates Up To 8.25% – How To Join?
Binance Will Launch Lending Products Second Phase
- Subscription Format: First-come-first-served basis.
- Subscription Period: From 2019/09/04 6:00 AM (UTC) to 2019/09/05 0:00 AM (UTC).
- Interest Calculation Period: Starting from 2019/09/05 0:00 AM (UTC).
- Interest Payout Time: Immediately after loan term matures.
Lending Product Details:
|Term to Maturity||Total Subscription Cap||Individual Cap||Annualized Interest Rate||Lot Size|
Interest Per Lot at Maturity
|USDT||14 days||20,000,000 USDT||1,000,000 USDT||8%||100 USDT||0.306849 USDT|
|ETC||14 days||20,000 ETC||1,000 ETC||7%||1 ETC||0.002684 ETC|
|ADA||14 days||10,000,000 ADA||500,000 ADA||6%||1,000 ADA||2.301369 ADA|
|ETH||14 days||10,000 ETH||100 ETH||6%||1 ETH||0.002301 ETH|
|BTC||14 days||1,000 BTC||10 BTC||3%||0.01BTC||0.00001151 BTC|
|BNB||28 days||200,000 BNB||100 BNB||10%||10 BNB||0.076712 BNB|
|USDT||28 days||10,000,000 USDT||500,000 USDT||8.25%||100 USDT||0.632876 USDT|
|BTC||28 days||500 BTC||5 BTC||3.25%||0.01BTC||0.00002493 BTC|
If User A subscribes to 10 lots of BNB (28 days) Lending (total lend of 100 BNB), the interest earned at maturity date will be 0.076712 BNB * 10 = 0.76712 BNB.
How To Join?
Step 1: Register Binance Exchange Account
– To register Binance Exchange account, please read this Tutorial: Tutorial Of Binance Registration
– After register Binance account successfully: You need to Deposit (Bitcoin, ETH, USDT,…) into Your Binance account.
Step 2: Join Binance Lending Service
– Login Your Binance account: Press on ‘Lending’ at top of page or go to this page: https://www.binance.com/en/lending
– Select the available item to purchase
– There will be a detailed description in the product page;
- Lot Size: Price per lot
- Maximum Subscription: Maximum lots You can purchase
- Coupon Per Lot: Interest you will receive per lot after redemption
- Value date: The day Binance start to calculate interest.
- Redemption Date: The day Binance distribute the interest and the equity
– When Product Lending services is open, You must press on ‘Subscribe’ button
– Note: Please make sure that there are enough assets in Your Binance exchange account (Assets in pending order and Margin account are not eligible)
– Enter amount, You wish to purchase and tick in box ‘I have read…’ then press on ‘Confirm Purchase’ button
– After a successful purchase, system will deduct the corresponding amount in Your balance, You can check the detail in the ‘Successful Purchase’ Page
– When it reaches due date, redemption will happen automatically. The Equity and interest will be distributed to Your account at once, You can see them in your ‘Balance’ page.