Interest Account: New Features and Updates

Our Interest Account has always been an excellent solution for those who want to store their assets in a smart way. Now we have one more important milestone to share — in addition to our usual Interest Account service, we offer you an option to get higher interest rates by using Fixed Account.

What is Fixed Account

With Fixed Account capabilities, you can choose the most convenient holding period which corresponds to your goals and needs with a higher, predictable yield.

Note: From now on,our Interest Account service, which lets you withdraw funds at any time and brings you daily accruals and monthly payout, is called Flexible Account.

New interest rates

We have been hard at work delivering the best service to our users and keeping our interest rates unchangeable in the last few years despite multiple turmoils. Yet, we are one of the last to change our Flexible rates to match the market climate. However, we did our best to make up the difference with Fixed rates. Our current rates are adjusted to the market situation and are one of the best among the alternatives: they will let us continue further developing while avoiding some frustrating measures in future like significant reduction of withdrawal limits.

Why Fixed Account is so important

The Fixed Account functionality and new interest rates are a part of our strategy to manage current and future market challenges, which we have been handling more than well in the past few months. This will help us to balance liquidity: we will have better-projected cash flow and planned releases of assets.

With that said, we continue following our development trajectory and working on the new features, as keeping our platform the best all-in-one crypto solution is always our priority. Even more exciting updates are coming in the future. Stay tuned!

How Fixed Account works

  • You can’t withdraw your funds fully or partially until the holding period ends.
  • When the period ends, you get your initial deposit and earned interest automatically credited to your Wallet.
  • You can’t top up your existing Fixed Account. If you want to add funds, create a new Fixed Account instead.
  • Higher rates.
  • There are no daily accruals or monthly compound interest.
  • You can make up to 50 deposits in one asset.

How to open Fixed Account

  1. Go to the Interest Account menu.
  2. Navigate to the Fixed tab and press the Start Earning button.
Fixed tab — Web platform
Fixed tab — Mobile app

3. In the new window, indicate the asset and its amount, choose the desired conditions, and press Continue.

Create Account — Web platform
Create Account — Mobile app

4. In the confirmation window, check the box saying you know your funds are locked up and press Create.

Confirmation — Web platform
Confirmation — Mobile app

5. All done! Your Fixed Account has been successfully created.

Account Created — Web platform
Account Created — Mobile app

What to do if I want to transfer funds from Flexible to Fixed Account

You can deposit funds to Fixed and Flexible accounts from your Wallet only. That is why you should request a withdrawal from your Flexible Account. When your funds are credited to your Wallet, create a Fixed Account with the desired conditions.

Try the feature yourself and share your experience with us! If you have any questions, please contact our support team at support@coinloan.io. We are there for you 24/7.

We have updated our Terms and Conditions respectively.

Originally published at https://coinloan.io on December 22, 2022.

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CoinLoan is a Crypto Lending Platform

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