1. After you have subscribed Binance Fixed Deposit Lending products, you can choose to transfer part of the Fixed Deposit funds (minimum transfer amount is 1 lot) to Flexible Deposit funds (on condition that the fund is supported by Flexible Deposit Lending service) to redeem the fixed deposits in advance, improving the liquidity of your funds.
2. You can complete this operation through [Lending] - [Assets] - [Operation] - [Transfer]
- After the transfer, the entire amount of the fixed deposit interests which belong to the part of assets switched to flexible deposit will not be distributed anymore.
- After the operation, the assets switched will be transferred to your flexible deposit lending account, however, this part of assets will be frozen. The redemption will be unlocked only starting from the next day.
- After the transfer, the flexible deposit interests will also be calculated starting from the next day and will be distributed starting from the third day.
a. 1st January 2020: the user subscribed 10,000 USDT of Fixed Deposit Lending products;
b. 5th January 2020: the user needs these funds, and asks to switch 5,000 USDT to Flexible Deposits. The funds are transferred to the user’s Flexible Deposit account on the same day, and are temporarily frozen;
c. 6th January 2020: the flexible deposit assets of 5,000 USDT are unlocked and begin to generate interests, the redemption function is opened;
d. 7th January 2020: the user receives the flexible deposit interest from this asset of 5,000 USDT.