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Binance Loans Adds Borrowable Asset CAKE and Launches Interest Rate Reduction Promotion

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www.binance.com 27 June 2022 03:42, UTC
  
Reading time: ~2 m

Fellow Binancians,
Binance has added CAKE as a borrowable asset on the Binance Loans platform, and launched a promotion to reduce interest rates for all cryptocurrencies on the platform, such as BTC, BUSD and ETH.
Interest Rate Reduction Promotion
Promotion Period: 2022-06-27 11:00 AM (UTC) to 2022-07-27 11:00 AM (UTC)
Please refer to the Loan Data page for more details on the adjusted interest rates during the promotion. For example, the discounted interest rates for borrowing BUSD on the Binance Loans platform during the promotion period are as follows:
VIP Level
Previous Int. Rate
New Tiered Int. Rate
Regular User
Hourly Int. Rate: 0.001%
Daily Int. Rate: 0.025%
Hourly Int. Rate: 0.0004%
Daily Int. Rate: 0.0100%
VIP 1
Hourly Int. Rate: 0.001%
Daily Int. Rate: 0.0238%
Hourly Int. Rate: 0.0004%
Daily Int. Rate: 0.0095%
VIP 2
Hourly Int. Rate: 0.0009%
Daily Int. Rate: 0.0225%
Hourly Int. Rate: 0.0004%
Daily Int. Rate: 0.0090%
VIP 3
Hourly Int. Rate: 0.0009%
Daily Int. Rate: 0.0213%
Hourly Int. Rate: 0.0004%
Daily Int. Rate: 0.0085%
VIP 4
Hourly Int. Rate: 0.0008%
Daily Int. Rate: 0.0200%
Hourly Int. Rate: 0.0003%
Daily Int. Rate: 0.0080%
VIP 5
Hourly Int. Rate: 0.0008%
Daily Int. Rate: 0.0188%
Hourly Int. Rate: 0.0003%
Daily Int. Rate: 0.0075%
VIP 6
Hourly Int. Rate: 0.0007%
Daily Int. Rate: 0.0175%
Hourly Int. Rate: 0.0003%
Daily Int. Rate: 0.0070%
VIP 7
Hourly Int. Rate: 0.0007%
Daily Int. Rate: 0.0163%
Hourly Int. Rate: 0.0003%
Daily Int. Rate: 0.0065%
VIP 8
Hourly Int. Rate: 0.0006%
Daily Int. Rate: 0.0150%
Hourly Int. Rate: 0.0003%
Daily Int. Rate: 0.0060%
VIP 9
Hourly Int. Rate: 0.0006%
Daily Int. Rate: 0.0138%
Hourly Int. Rate: 0.0002%
Daily Int. Rate: 0.0055%
Binance Loans provides a large range of options for supported crypto assets, interest rates, collateral assets, and maximum loanable limits based on market conditions and internal risk management. Binance reserves the right in its sole discretion to amend or change the interest rates without prior notice.
If you are not yet familiar with Binance Loans, here are some useful resources for you to get started:
  • What Is Binance Loans
  • How to Use Binance Loans
  • Binance Loans Service Agreement

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