Binance Will Launch Lending Products Second Phase – Interest Rates Up To 8.25% – How To Join?

Binance Will Launch Lending Products Second Phase - Interest Rates Up To 8.25% - How To Join?

Binance Will Launch Lending Products Second Phase – Interest Rates Up To 8.25% – How To Join?

Binance Will Launch Lending Products Second Phase

Binance will launch the second phase of Binance Lending Products at 2019/09/04 6:00 AM (UTC) where 14-day and 28-day fixed term lending products will be made available. Further details are below:

  • 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:

DigitalAsset

Term to MaturityTotal Subscription CapIndividual CapAnnualized Interest RateLot Size

Interest Per Lot at Maturity

USDT14 days20,000,000 USDT1,000,000 USDT8%100 USDT0.306849 USDT
ETC14 days20,000 ETC1,000 ETC7%1 ETC0.002684 ETC
ADA14 days10,000,000 ADA500,000 ADA6%1,000 ADA2.301369 ADA
ETH14 days10,000 ETH100 ETH6%1 ETH0.002301 ETH
BTC14 days1,000 BTC10 BTC3%0.01BTC0.00001151 BTC
BNB28 days200,000 BNB100 BNB10%10 BNB0.076712 BNB
USDT28 days10,000,000 USDT500,000 USDT8.25%100 USDT0.632876 USDT
BTC28 days500 BTC5 BTC3.25%0.01BTC0.00002493 BTC

Example:

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.

For More Other Tutorial Of Binance Exchange, Click – HERE

Good luck,

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