12. How to Use Binance Loan

 

1. Log in to Binance ➡︎ Click [Finance] ➡︎ [Crypto Loans]

 

 

 

2. Select Assets ➡︎ Enter Amount(I want to borrow) ➡︎ Select [Loan Term]

 

Select the asset you want to borrow and enter the borrowing amount. Then choose the collateral asset and enter the collateral amount and select a loan term.

 

 

4. Check details ➡︎ Click [Start Borrowing Now]

After confirming the borrowable amount, collateral, interest, repayment, and more, click [Start Borrowing Now]

 

 

 

5. Confirm Order

Review the loan details on the Order Confirmation pop-up. Read carefully and agree to the Binance Loans Service Agreement and click [Confirm]

 

 

 

FAQ Binance Loans

 

Q. What crypto can I borrow on Binance Crypto Loans?

Binance Crypto Loans offers a wide range of crypto as loanable assets and collateral, including BUSD, USDT, BTC, and ETH.

 

Q. What are the Loan Terms?

Loan terms are available from 7, 14, 30, 90, and 180 days. You can always repay in advance and the interest is calculated based on the hours borrowed.

There is no penalty for early repayment.

Q. How is the interest calculated?

Interest is calculated hourly, in which less than one hour is calculated as one hour. The interest rate starts to accrue at the time of borrowing.

 

Q. What is LTV?

LTV stands for Loan-to-Value. It’s the total value of your loan plus interest, if any, to the value of your collateral. The value is determined by the index price.

LTV = Loan Value / Collateral Value