Question 1

What is Premier Loans?

Accepted Answer

Premier Loans is a customized crypto loan service for institutional and VIP users, allowing you to borrow cryptocurrencies using your HODLed assets as collateral.,This service allows users to leverage their existing assets to quickly access funds when market opportunities arise, improving capital efficiency.

Question 2

What are the requirements for Premier Loans?

Accepted Answer

Users with a VIP level of 3 or higher can enjoy Premier Loans services and privileges.,If you are not a VIP user, or if your VIP level is below 3 and you are interested in Premier Loans, please contact customer service with your application details and Bitget user ID.,Your Premier Loans order must be at least $250,000, and the total asset value in your Bitget account must meet a minimum LTV requirement of 70%.

Question 3

What are the terms for supported loan?

Accepted Answer

It currently supports loan terms of 30, 60, 90, 180, and 365 days.

Question 4

How is interest calculated

Accepted Answer

Interest accrues hourly, with any period less than one hour counted as a full hour.,Interest = principal × (daily interest rate ÷ 24) × loan duration (accruing interest on an hourly basis).

Question 5

What is LTV?

Accepted Answer

LTV = (loan amount to be repaid + interest to be repaid) ÷ total collateral,We set three LTV ratio levels for better risk control:,Initial LTV: The initial LTV ratio determines the maximum loan a user can receive based on their collateral amount.,Margin call LTV: When the LTV ratio reaches this level, it indicates high risk for the loan order. Users will be notified to add more collateral.,Liquidation LTV: When the LTV ratio reaches this level, the order will be liquidated. The collateral will be sold to repay the debt, and the user will be notified.

Question 6

Can I repay in advance?

Accepted Answer

You may repay at any time. The system will charge a service fee based on a percentage of the estimated interest on the repayment principal for the remaining borrowing period.

Question 7

What happens if I fail to repay on time?

Accepted Answer

In the event of late repayment, the overdue portion will incur a penalty interest rate of 200% of the loan's original interest rate, and the penalty will accrue according to the interest calculation formula.

Question 8

What are the consequences of liquidation or inadequate collateral?

Accepted Answer

The order will be liquidated when the LTV ratio reaches the liquidation threshold, and the collateral will be sold to repay the loan.,If the collateral is insufficient (i.e., the value of the collateral is less than the total debt), the loss will be covered by the Crypto Loans' insurance fund.

Premier Loans

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