This is a general announcement. Products and services referred to here may not be available in your region.
Fellow Binancians,
Binance Fixed Rate Loans is excited to announce our latest feature which allows users to convert their Fixed-Rate Loans to Flexible-Rate Loans* on the expiry date of their Fixed Rate Loans, without requiring immediate repayment upon conversion**.
Upon expiry of a Fixed Rate Loan borrow order, users can now choose to repay manually, auto-repay, or convert the Fixed Rate Loan borrow order to Flexible Rate*.
Where a user requests for conversion, the Fixed Rate Loan will be converted to a Flexible Rate Loan at maturity of the Fixed Rate Loan* with a renewed term. This feature may assist users in avoiding liquidation due to timing issues with the original Fixed Rate Loan repayment deadline, offering a more flexible borrowing experience.
There are two methods to enable the Flexible Rate conversion feature:
Click on [Convert to Flexible Rate] to set the repayment method preference while placing a new Fixed Rate Loan Borrow order.
Go to [Ongoing Orders], edit the repayment method of the borrow order to [Convert to Flexible Rate] to enable this feature.
*For the avoidance of doubt, the Flexible Rate Loan Services offered to users as part of any conversion of a user’s Fixed Rate Loan to a Flexible Rate Loan, are entirely separate and independent of Binance’s Flexible Loan product as further detailed here. The Flexible Rate Loan Services offered to users as part of any conversion of a user’s Fixed Rate Loan to a Flexible Rate Loan are strictly governed by the terms of use of Binance Fixed Rate Loans.
**Conversion to a Flexible Rate Loan is at Binance’s sole and absolute discretion and not automatic. If Binance declines to convert a Fixed Rate Loan to a Flexible Rate Loan, users should be aware that they are still required to repay their Fixed Rate Loan in full on the original maturity date and it is entirely up to the user to monitor whether their conversion request is accepted. Binance bears no responsibility for users’ failure to repay their Fixed Rate Loan in full in the event that their request is not accepted.
Please check for more detailed information here: What is Binance Fixed Rate Loans
Binance Fixed Rate Loans aims to build a stable and user-friendly financial environment by allowing users to customize their interest rate and offering predictable costs/returns. The platform effectively matches the needs of suppliers and borrowers. Fixed Rate Loan is over-collateralized, supporting multi-asset collateral to reduce liquidation risk. It also features an efficient automated process with auto-repay and auto-renew options. Managed by Binance, it ensures a smooth and straightforward experience for all users.
Please refer to Binance Fixed Rate Loans Terms and Conditions prior to placing any orders on the Binance Fixed Rate Loan platform.
Binance is under no obligation to convert Fixed Rate Loan to a Flexible Rate Loan. The conversion to a Flexible Rate Loan is subject to the availability of assets to Binance to allow Binance to make a Flexible Rate Loan.
Interest Rate Update: The Flexible Rate is subject to change every minute
Interest Accrual: Interest for Flexible Rate loans accrues on an hourly basis. The interest for each full hour is added to the total liability of the Flexible Rate loan order starting from the first minute of the following hour. Binance applies the average interest rate of the previous hour to calculate the interest rate of the next hour. Interest accrual begins immediately once the loan order is successfully converted to Flexible Rate. Please note that even if the order is repaid within minutes, interest will still incur for the entire hour.
Loan-to-Value: If the LTV reaches the margin call level, the borrow order will be ineligible to selection of FlexibleRate conversion. To enable this feature, please lower the LTV by adding more collateral.
Repayment: Flexible Rate Loans can only be repaid in full. Partial repayment of a Flexible Rate Loan is not available.
Once the Flexible Rate conversion feature is enabled, and subject to Binance approving the request for conversion, Binance will automatically initiate the conversion to a Flexible Rate Loan upon the expiry of the Fixed Rate Loan. However, if the Flexible Rate Loan is unavailable at that time, or alternatively, not satisfying the required conditions for the conversion at the point of expiry of, the borrower will still be required to repay the Fixed Rate Loan on its original maturity date.
There may be discrepancies between this original content in English and any translated versions. Please refer to the original English version for the most accurate information, in case any discrepancies arise.
Thank you for your support!
Binance Team
2025-06-24
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Binance reserves the right in its sole discretion to amend or cancel this announcement at any time and for any reasons without prior notice.
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