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:
- Loan Currency;
- CoinLoan Tokens (CLT) – 50% discount.
In Loan Currency
Borrowing fees are calculated as 1% of the overall loan principal amount.
In CoinLoan Tokens
Paying in CLT, you get a 50% discount. The discount deducts from the amount of the fee in the loan's currency (the calculation is based on the CLT market value).
How is the discount calculated?
- 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 for paying 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.
Deposits by Visa / MasterCard: 2 EUR + 4.2% (from deposit amount).
Withdrawals in fiat and virtual currencies are free.
The liquidation fee is charged in the amount of 7% of the liquidated loan collateral.