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How can I get a discount on the interest rate (Nexo Prime rate of 5.9%)?

In order to receive the full 50% Credit Line Interest Discount, clients must stake a sufficient number of NEXO Tokens in their Nexo Wallet to cover the interest for the entire period from the moment of withdrawing funds from the credit line up to their desired moment of repayment. To calculate the amount of staked NEXO Tokens you will need for the first month, simply multiply your loan balance by 1% (11.9% / 12 = ±1%).

Clients who have staked NEXO Tokens in their Nexo Wallet for only part of the duration of their loan will receive a Credit Line Interest Discount proportional to the number of days out of the entire period, for which they had a sufficient amount of NEXO Tokens staked in their wallet to cover the interest.

With these improvements to our policy clients looking to take advantage of the Credit Line Interest Discount will now be able to make repayments using all assets available on the Nexo Platform including USD, EUR, GBP, AUD, as well as Bitcoin, Ether, NEXO, Litecoin, XRP, Stellar, Bitcoin Cash, EOS, all major stablecoins, and more assets coming soon.

All interest accumulated on our platform is calculated by the state-of-the-art and fully-automated Nexo Oracle. The Oracle determines the interest and respective discount for every client’s wallet daily with no effort required of our clients.

Example:

Let’s say you are planning to withdraw a 1,000 USD loan for a period of one year. In one year’s time, your loan would generate outstanding interest in the amount of ±119.00 USD (1,000 x 11.9% = 119). Therefore, to ensure that you qualify for the 50% Credit Line Interest Discount you would need to stake at least ±119.00 USD worth of NEXO Tokens throughout the whole year.

If at a certain point in time your outstanding interests exceeded the value of your NEXO tokens your daily interest would be adjusted accordingly from that moment onwards.

Using the same example as above, if you deposited NEXO Tokens worth ±60 USD, then the daily interest after six months would be less than 50%. Тhen, the discount you will receive by the end of the one-year term will be approximately 40% instead of 50%.

 

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