Binance Introduces Lite Loan with No Liquidation for 30 Days

Binance has launched Lite Loan, a new borrowing product that allows users to obtain up to 1,000 USDT against their eligible BTC collateral. The initial 30-day term comes with no price-triggered liquidation, giving borrowers some breathing room during market fluctuations.

The service fee for this promotion is 0.5%, which will revert back to 1% after September 3rd. This means that users can borrow USDT immediately and use it both on and off the Binance platform without worrying about price drops affecting their collateral.

Collateralized crypto lending allows users to retain exposure to their pledged digital assets, as they continue earning yield in Binance Simple Earn during the loan term. However, users should be aware that overdue balances will face a 36% annual penalty interest and liquidation risks.