Flexible Loan Introduction
Flexible Loan is a loan product with no fixed term and floating interest rate. Currently, it supports collateral of 20+ digital currencies. After the application for the loan is successful, the funds will be quickly credited to the account. The loan can be borrowed and repaid at any time, and the interest is incurred on time. During the loan period, the user's collateralized assets will be locked, and the platform promises not to lend your collateral or use it for any other purpose.
Annual Interest Rate and Service Fee Rate Explanation
HPX is a platform for providing loan services, and funds are provided by third parties. The Annual Interest Rate of the loan changes in real time according to the loan ratio of the marketplace capital pool. The Service Fee Rate is set according to the currency pool, service fee = repayment amount * service fee rate, and the service fee is charged at one time when repayment.
Currently, the service fee rate for the "Flexible Loan" product is 0%.
How to Use Flexible Loan?
1. Open the mobile App and log into your personal account. You can access Flexible Loan in two ways:
Method 1: Swipe to the functional area on the App homepage, then click to enter the "Flexible Loan" product (if not visible, click "More" -> "Investment" -> "Flexible Loan").
Method 2: Click the "Earn" tab on the bottom navigation bar, then click to enter the "Flexible Loan" product.
2. Click "I Want to Borrow", enter the "Loan Amount". The required "Collateral Amount" will be displayed automatically after selecting the pledge currency.
3. Click "Submit Application". Upon success, you can view your "Borrowed", "To be Repaid", and "Repayment Record" on the product page.
4. When the order's collateral rate is greater than or equal to the automatic buy-in limit, the automatic buy-in will be executed. It is recommended to open it for the safety of your funds.(default setting is OFF).
5. The total available borrowing amount in the market is limited. If the total requested loan amount exceeds the market's available supply, your loan application may fail. We appreciate your understanding.