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Binance launches Binance Loans service with 20% off interest rate promotion

Image by Binance from Twitter

Sat, 04 Apr 2020, 07:25 am UTC

Binance announced the launch of Binance Loans service.

On Tuesday, Binance introduced Binance Loans service which will help users leverage existing crypto assets as collateral for loans, borrow from a large range of crypto assets, select from a range of varying loan periods, get low-interest rates and receive instant approval.

From now until April 14, 2020, 0:00 AM (UTC), all Binance Loans service users across any of the loan periods in the table below will receive a 20% discount on the daily interest rate with the lowest interest rate being 0.0224%.

Based on the table one can loan either Binance USD (BUSD) or Tether (USDT). The standard interest for BUSD for 7 days is 0.028%, but it will be reduced to 0.0024% with the 20% off interest rate promotion.

Binance Loans will continue to be flexible and actively provide a varying range of options for supported crypto assets, interest rates, collateral assets, and maximum loanable limits based on market conditions and its internal risk management. The daily interest rate will return to the standard rage after the promo period ends.

Meanwhile, Binance has also added more fiat currencies to buy crypto using its credit and debit cards without international currency conversion fees. Among the new currencies added are Israeli Shekel (ILS), Argentine Peso (ARS), Malaysian Ringgit (MYR), New Taiwan Dollar (TWD), Swiss Franc (CHF), Singapore Dollar (SGD), and the Philippine Peso (PHP).

The said currencies can now be used to purchase the following cryptocurrencies Bitcoin (BTC), Ripple (XRP), Ethereum (ETH), BNB, Binance USD (BUSD), and Tether (USDT). Users can go to the Buy Crypto page and select “Pay with Credit/Debit Card” to enjoy the service.

Also, Binance just launched Binance Card, which is issued by Visa and is accepted by over 46 million merchants offline and online in 200 regions and territories. With Binance Card, one can go shopping and pay it with crypto.

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