A User may choose to repay the loan after he/she has completed the trade. The interest rate is charged on a percentage of the amount borrowed and is calculated on a per second basis. The system will stop charging interest when the loan is fully paid.
If a user has taken more than one loan, the repayment of the loans will be one for each loan taken for every individual order.
4.1) In the Cross Margin page, click ‘Loan/Repay’ and select “Repay’.
4.2) If you have more than one loan, identify the loan you wish to repay and click the ‘Repay’ button. Select ‘Repay Principal’ or ‘Repay coin and interest’ and enter the amount you wish to repay. Verify your repayment and click the "REPAY" button to proceed. When the available balance is not enough for the repayment, please top-up the difference in your margin account.
Note: When a borrowed asset is sitting idle in the account, please close the loan to avoid interest charges.
To learn more about the rules of margin trading, please refer to "Business Rules for Cross Margin Trading" guide.
Alternate ways to make repayment:
In the Cross Margin trading page, click the menu icon and select 'Transfer' or click ‘Loan/Repay’ and select ‘Transfer’ shown in screenshot2.