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How to secure Your Credit Line with the Unlock Fixed Terms Opt-in?

 

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With the Unlock Fixed Terms Opt-in Nexo gives you another option to secure your open credit line. Should your Loan-to-Value (LTV) reach 83.3% and the assets in your Flex terms have already been transferred out of the Savings wallet, the system will go on to unlock your Fixed-term/s and transfer the original amount of locked assets to the Credit Line wallet thus preventing automatic repayments.

 

Please follow the steps below to activate the option:

 

Web platform:

1. Log on to your Nexo account and click on ‘My Profile’ > ‘Settings’

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2. Click ‘Enable’ under ‘Unlock Fixed Terms’ 

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Mobile application:

1. Open the app and tap on ‘More’ > ‘Settings

2. Tap on the toggle button next to ‘Unlock Fixed terms’

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Key points:

  • All the assets in each Fixed Term deposit will be unlocked at once should the system need to collateralize part or all of the funds locked in this account.
  • Fixed terms will be unlocked only if ‘Unlock Fixed Terms’ is opted in and all Flex terms have already been transferred.
  • If you have multiple Fixed terms of various sizes, the prioritization is aimed at reducing the loss of interest in your account. 

  • If the assets in a Fixed-term are not enough to stabilize your Loan-to-Value (LTV), the system will go on to unlock more assets if available. 
  • Fixed terms in FiatX currencies are not affected by this option since FiatX assets do not serve as collateral.

 

Important:

Nexo Earn Product is not available for citizens or residents of certain jurisdictions, including where restrictions may apply, such as Bulgaria, Estonia and the USA

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