To choose the borrowing fee option, you need to select the "Origination Fee Type" in the Instant Loan application form.
The CoinLoan platform provides two options for paying borrowing fees:
CoinLoan Tokens (CLT) – 50% discount.
Borrowing fees are calculated as 1% of the overall loan principal amount.
Paying in CLT, you get a 50% discount. The discount is deducted from the loan currency fees' amount (the calculation is based on the CLT market value).
Borrowing fees estimated in your loan's currency (1% of the overall loan principal amount).
This amount is reduced by half.
The resulting amount is converted into CLT (according to its current market value).
If CLT has been selected as an origination fee for a loan and your CLT wallet balance is not enough to pay the fee, the platform will automatically deduct the equivalent amount in loan currency from the loan principal.
Deposits in cryptocurrencies are free.
Deposits in fiat currencies are free.
We take over withdrawal fees. However, there is a withdrawal limit of $500k per 24 hours rolling period.
The liquidation fee is equal to 7% of the liquidated loan collateral.