Binance Will Launch Lending Products Third Phase – Interest Rates Up To 10% – How To Join?
Binance Will Launch Lending Products Third Phase
- Subscription Format: First-come-first-served basis.
- Subscription Period: From 2019/09/11 6:00 AM (UTC) to 2019/09/12 0:00 AM (UTC).
- Interest Calculation Period: 2019/09/11 6:00 AM (UTC) to 2019/09/25 6:00 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
|BNB||14 days||200,000 BNB||500 BNB||10%||10 BNB||0.038356 BNB|
|ETC||14 days||30,000 ETC||1,500 ETC||7%||1 ETC||0.002684 ETC|
|LTC||14 days||6000 LTC||300 LTC||7%||1 LTC||0.002684 LTC|
|XRP||14 days||1,000,000 XRP||50,000 XRP||7%||100 XRP||0.268493 XRP|
|USDC||14 days||2,000,000 USDC||500,000 USDC||7%||100 USDC||0.268493 USDC|
|USDT||14 days||20,000,000 USDT||5,000,000 USDT||10%||100 USDT||0.383561 USDT|
If User A subscribes to 10 lots of BNB (14 days) Lending (total lend of 100 BNB), the interest earned at maturity date will be 0.038356 BNB * 10 = 0.38356 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.