What are Flexible Deposits Lending Products?
Lending is a financial product that Binance provides for his users to lend and earn interests. Users can lend his/her idle crypto assets to Binance Margin, and get interests.
Flexible Deposits is your Crypto savings account. Subscribe your crypto to earn interest, with the flexibility to redeem your funds at any time and convenience of daily interest and real-time funds credit.
What are the terms of Flexible deposits products?
Average annual return: The average annual return (APR) uses the average daily interest rate from the past 7 days, multiplied by 365. It is a reference to the daily interest you are entitled to, but not exactly the same as the actual interests.
Interest per thousand: The daily interest of per thousand crypto assets based on the latest daily interest rate.
About Subscription and redemption
- Flexible Lending can be subscribed and redeemed at any time with funds being credited in real-time.
- Subscription and redemption will be opened between 00:10-23:50(UTC) everyday.
- Interest will be calculated from the day after subscription day, not counted on subscription day, and distributed on the second day after subscription day.
- On subscription day, you can choose fast or standard redemption to redeem assets.
- For standard redemptions, you will only receive the full amount back on the second day after redeeming, at 00:00 AM (UTC) with the earned interest included. The funds credited delay may due to the interest calculation process where the redemption day is included in the interest calculation period.
- For fast redemptions, you will receive the full amount of your digital assets back on the redemption day without interest.
About automatic subscription (new function)
- You can activate the automatic subscription function in the Flexible Lending page.
- If the function is turned on, the system will transfer total available assets from spot wallet to lending wallet automatically since 01:00 AM (UTC).
- In automatic subscription, system will estimate whether total flexible products quota has exceeded individual cap. Subscription of exceeding parts will be cancelled automatically.
- Digital Asset/Individual Cap/Fast Redemption Limit and Total Lending Quota will be adjusted according to market condition and risk level.
- If the total flexible lending quota of one digital asset has exceeded upper limit, it is not allowed to subscribed until total quota less than individual cap.
The interests of Binance Lending comes from the income of Margin. Binance will calculate and distribute the income according to the platform’s rules.
Binance lending calculates and distributes the interests of flexible deposits products hat accrued the previous day to your exchange wallet.
Total interest daily = the distributable income/ total subscribed today
Minimum accountable interests
Interest earned is distributed daily. The amount is based on the number of redeemable tokens. The interest amount is rounded down and goes to 8 decimal places.
Total interest earned and today’s interest earned
The total interest earned on the Assets page is the cumulative interest you have earned by lending.
Today’s interest earned is the interest you receive today.