Binance Will Launch Lending Products Third Phase – Interest Rates Up To 10% – How To Join?

Binance Will Launch Lending Products Third Phase - Interest Rates Up To 10% - How To Join?

Binance Will Launch Lending Products Third Phase – Interest Rates Up To 10% – How To Join?

Binance Will Launch Lending Products Third Phase 

Binance will launch the third phase of Binance Lending Products at 2019/09/11 6:00 AM (UTC), where 14-day fixed term lending products will be made available. Further details are below:

  • Subscription Format: First-come-first-served basis.
  • Subscription Period: From 2019/09/11 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 

Digital Asset

Term to MaturityTotal Subscription CapIndividual CapAnnualized Interest RateLot Size

Interest Per Lot at Maturity

BNB14 days200,000 BNB500 BNB10%10 BNB0.038356 BNB
ETC14 days30,000 ETC1,500 ETC7%1 ETC0.002684 ETC
LTC14 days6000 LTC300 LTC7%1 LTC0.002684 LTC
XRP14 days1,000,000 XRP50,000 XRP7%100 XRP0.268493 XRP
USDC14 days2,000,000 USDC500,000 USDC7%100 USDC0.268493 USDC
USDT14 days20,000,000 USDT5,000,000 USDT10%100 USDT0.383561 USDT

Example:

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.

For More Other Tutorial Of Binance Exchange, Click – HERE

Good luck,

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