Interest Account works as a bank deposit and enables users to earn up to 12.3% annual interest just for depositing supported assets.
Interest Account is available to anyone. No matter where you live*, no matter what is your role on the platform. Both lenders and borrowers can use our Interest Account, as well as every person or company that registers an account and verifies their identity, following the KYC/AML requirements.
It is guaranteed. That's why users shouldn't care about what we're doing with deposited money. Whether we successfully invest your money or not, you watch your interests accrued to your account every day. Currently, the fixed interest rate ranges from 3% to 8.3% for base rates and 5% to 12.3% for rates with bonuses for staking.
How Does Interest Account Work?
You can find Interest Account tab in the left sidebar on CoinLoan platform. See Figure #1 below. Here, you can deposit and withdraw your funds with one click. The minimal deposit balance is ~ $100, with no maximum limits.
Figure #1. CoinLoan Interest Account tab.
Please note that all the operations at the Interest Account are executed daily at 14:00 UTC. It means that your request for withdrawal will remain in a pending status until processed in due time. You can have only one pending deposit/withdrawal request in the same currency. However, you can always cancel the pending request and create a new one.
All the pending and complete deposits are available in the Transactions section of the Interest Account tab, as shown in Figure #2.
Figure #2. Transactions section of Interest Account.
Interest is accrued daily at 14:00 UTC. Compound interest will be credited to your account on the first day of the month at 15:00 UTC.