Binance Lending Eleventh Phase – How To Lend On Binance?
Binance Lending Eleventh Phase
Binance will launch the eleventh phase of Binance Lending Products at 2020/01/20 12:00 PM (UTC), where 30-day fixed term lending products will be made available. Further details are below:
- Subscription Format: First-come-first-served basis.
- Subscription Period: From 2020/01/20 12:00 PM (UTC) to 2020/01/21 12:00 PM (UTC).
- Interest Calculation Period: 2020/01/21 12:00 PM (UTC) to 2020/02/20 12:00 PM (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||30 days||30,000,000 USDT||1,000,000 USDT||6%||100 USDT||0.49315 USDT|
|ERD||30 days||500,000,000 ERD||25,000,000 ERD||15%||50,000 ERD||616.4383 ERD|
How To Lend On Binance?
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 USDT into Your Binance account.
Step 2: Join Binance Lending Tenth Phase
– Login Your Binance account: Press on ‘Earn’ at top of page then select ‘Lending’ 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
- 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.