What conditions need to be met to apply for a loan?

1: Must be a registered user of the platform. Lending mainly supports users’ contract transactions in the exchange.

2: Borrowing users must provide a registered user of the platform as (guarantor)

3: Guarantor qualifications: (The platform’s funds must reach twice the borrower’s borrowing amount before it can serve as a guarantee for lending users)

What is the loan term for the loan?

The loan cycle is flexible: 7 days to 14 days, and the loan can be renewed upon maturity.

What are the fees for borrowing money?

When you apply for a loan to the platform for the first time, no interest will be charged on the loan within 14 days.

(Basic 7-day loan interest is 3.5%) (Basic 14-day loan interest is 5%)

Can I repay my loan in advance?

Early repayment is possible but repayment conditions must be met. Users can add new loans during the loan period and repay the loan within the maturity period without incurring any additional fees or penalties for early repayment of the loan.

Borrowing extension

Each loan can only be extended once for a period of 7 days. A late fee of 5% of the total loan amount incurred during the extension must be paid for each day of extension.

If the loan amount is not paid on the date of extension, we will freeze all funds in your and guaranteed users' trading accounts.

How is late payment interest calculated?

Interest is calculated on a daily basis. If repayment is overdue, 5% of the total loan assets will be charged as interest every day.

How to deal with default during the loan period?

If the late payment fee cannot be paid as scheduled during the extension period or the loan cannot be repaid after 3 days, it will be deemed as a breach of contract and the agreement will be terminated, and the user will be required to return the principal and remaining interest and freeze all funds of the guaranteed user.

Can the borrowed assets be withdrawn?

Yes, within 24 hours of applying for withdrawal, we will review whether the loan assets in the trading account meet the requirements for margin and withdrawal qualifications.

Guarantor conditions and precautions:

1: The platform’s funds must reach twice the amount borrowed by the lender before it can serve as a guarantee for loan users.

2: Guaranteed users who need to withdraw account funds during the guarantee period must pass the platform review (other funds that need to be withheld from the guarantee can be withdrawn and transferred out normally)

3: If the loan user repays overdue, all funds in the guaranteed user’s trading account will be frozen.

If you need to apply, please contact BAICION customer service